See how your retirement savings could grow by the time you retire, based on your age, contributions, employer match, and expected investment return.
Leave employer match at 0 if you don't have one. 7% a year is a commonly used long-run average for a diversified stock portfolio.
This tool projects your retirement savings using the standard future-value-of-an-annuity formula that banks and retirement plan providers use. It combines two growth sources: the compounding of the balance you already have saved, and the compounding of every future monthly contribution (yours plus any employer match) from the month it's made until you retire.
The math behind this is the same compounding principle used in our Compound Interest Calculator - the only difference here is that new money is added every month instead of a single lump sum.
Someone who is 30 years old today, planning to retire at 65 (35 years, or 420 months), with $15,000 already saved, contributing $500 a month plus a $150 monthly employer match, at an assumed 7% average annual return, would contribute $273,000 out of pocket and employer combined over that time. With compounding at 7% a year, that grows to a projected balance of approximately $1,343,278 at retirement - meaning roughly $1,055,278 of that final balance comes purely from investment growth, not from money put in directly.
How accurate is this retirement calculator?
It's a planning estimate, not a guarantee. It assumes a constant annual return every year, but real markets go up and down - some years will beat 7%, others will lose money. Over decades the average tends to smooth out, but your actual balance at any given date will differ from a straight-line projection.
What rate of return should I use?
A common assumption for a diversified U.S. stock portfolio held over 20-40 years is around 7% per year after inflation. If your 401(k) is more conservative (a mix of stocks and bonds), a lower number like 4-5% may be more realistic. Try the calculator with a couple of different rates to see a range of outcomes.
Is this the same as an official 401(k) calculator from my plan provider?
It uses the same underlying compound-growth math, but your actual 401(k) provider's tool may also factor in plan-specific fees, vesting schedules for the employer match, contribution limits, and your specific fund choices. Use this calculator for a quick, provider-independent estimate.
Does this account for inflation?
Not directly - it shows the raw dollar amount your account could reach. If you use a return rate that's already adjusted for inflation (like the ~7% real return figure), the projected balance is a rough estimate in today's purchasing power. If you use a nominal (non-inflation-adjusted) return instead, the number will look bigger but buy less by the time you retire.
What if my employer match has a cap or a vesting schedule?
Enter your actual expected monthly match amount, not your full salary percentage, if it's capped. If your match vests gradually (you only keep it after working there a certain number of years), the projection will be optimistic for the portion that hasn't vested yet - adjust the match field down if you expect to leave before it's fully vested.
How much should I actually be saving for retirement?
A widely used rule of thumb is to aim for 15% of your income (including any employer match) going toward retirement each year, starting as early as possible. There's no single right answer - it depends on your target retirement age, expected expenses, and other income like Social Security.
Does this include Social Security or pension income?
No - this calculator only projects your personal retirement account balance (like a 401(k), IRA, or similar). Social Security and any pension would be separate, additional income on top of whatever this account grows to.
Can I use this if I'm self-employed or don't have a 401(k)?
Yes - the math works the same way for an IRA, SEP-IRA, Solo 401(k), or even a regular taxable brokerage account. Just set the employer match field to 0 if there isn't one.