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Free Retirement Savings Calculator

Project how large your retirement nest egg could grow from your current savings, your monthly contributions, an expected annual return, and the number of years left until you retire. The calculator separates how much you put in from how much compound growth adds, so you can see exactly what your money does over time.

Projected balance at retirement
$691,150.47
Total contributed
$190,000.00
Total growth
$501,150.47

Estimate only. Assumes a constant return and end-of-month contributions; excludes fees, taxes, and inflation.

Year-by-year projection

YearContributedBalance
1$16,000.00$16,919.19
2$22,000.00$24,338.58
3$28,000.00$32,294.31
4$34,000.00$40,825.16
5$40,000.00$49,972.70
6$46,000.00$59,781.53
7$52,000.00$70,299.43
8$58,000.00$81,577.68
9$64,000.00$93,671.22
10$70,000.00$106,639.02
11$76,000.00$120,544.25
12$82,000.00$135,454.70
13$88,000.00$151,443.02
14$94,000.00$168,587.14
15$100,000.00$186,970.62
16$106,000.00$206,683.03
17$112,000.00$227,820.45
18$118,000.00$250,485.91
19$124,000.00$274,789.85
20$130,000.00$300,850.72
21$136,000.00$328,795.53
22$142,000.00$358,760.48
23$148,000.00$390,891.60
24$154,000.00$425,345.48
25$160,000.00$462,290.03
26$166,000.00$501,905.30
27$172,000.00$544,384.37
28$178,000.00$589,934.26
29$184,000.00$638,776.94
30$190,000.00$691,150.47

Estimate only. This calculator provides estimates based on the values you enter and the formula shown. It is not financial advice and may not reflect every fee, tax, or lender requirement. Check figures with a qualified professional before making financial decisions.

Quick answer

Your projected balance is FV = PV·(1 + i)^N + PMT·[((1 + i)^N − 1) ÷ i], where PV is your current savings, PMT is the monthly contribution, i is the monthly return (annual rate ÷ 100 ÷ 12), and N is the number of months (years × 12). If the return is 0%, FV is simply PV + PMT·N. The total you contribute is PV + PMT·N, and everything above that is compound growth.

Formula & method

The calculator converts your annual expected return to a monthly rate, i = r ÷ 100 ÷ 12, and the years until retirement to a number of months, N = years × 12. It grows your current savings by the compound factor (1 + i)^N, then adds the future value of an ordinary annuity for your level monthly contributions: PMT × [((1 + i)^N − 1) ÷ i], which assumes each contribution is made at the end of the month. When the return is exactly 0%, it uses the no-growth form PV + PMT × N to avoid dividing by zero. It then reports three figures: the projected balance, the total you actually contributed (PV + PMT × N), and the growth, which is the projected balance minus what you contributed. A year-by-year table shows the running balance. All math runs in your browser; nothing is sent anywhere.

Examples

Example 1: $10,000 saved, $500/month, 7% for 30 years
Input
PV=$10,000, PMT=$500, r=7%, Y=30
Result
≈ $691,150.47 projected balance
Why
i = 7/100/12 = 0.00583333, N = 360. (1+i)^360 ≈ 8.11650. Balance = 10,000 × 8.11650 + 500 × ((8.11650 − 1) ÷ 0.00583333) ≈ 81,165 + 609,985 ≈ $691,150.47. You contributed 10,000 + 500 × 360 = $190,000, so growth is about $501,150.
Example 2: Starting from $0, $300/month, 6% for 25 years
Input
PV=$0, PMT=$300, r=6%, Y=25
Result
≈ $207,898.19 projected balance
Why
i = 0.005, N = 300, (1+i)^300 ≈ 4.46497. Balance = 0 + 300 × ((4.46497 − 1) ÷ 0.005) ≈ $207,898.19. Contributed = 300 × 300 = $90,000, so compound growth adds about $117,898.
Example 3: $50,000 saved, $1,000/month, 5% for 20 years
Input
PV=$50,000, PMT=$1,000, r=5%, Y=20
Result
≈ $546,665.68 projected balance
Why
i ≈ 0.00416667, N = 240, (1+i)^240 ≈ 2.71264. Balance = 50,000 × 2.71264 + 1,000 × ((2.71264 − 1) ÷ 0.00416667) ≈ 135,632 + 411,034 ≈ $546,665.68. Contributed = 50,000 + 1,000 × 240 = $290,000.
Example 4: Zero-return case: $20,000, $400/month, 0% for 10 years
Input
PV=$20,000, PMT=$400, r=0%, Y=10
Result
= $68,000.00 projected balance
Why
With i = 0 there is no compounding, so FV = PV + PMT × N = 20,000 + 400 × 120 = $68,000. Growth is exactly $0 — every dollar of the balance was contributed.

When to use this tool

  • Estimating roughly how big your retirement nest egg could become at your current saving pace.
  • Seeing how much a higher monthly contribution or a few extra working years changes the final balance.
  • Comparing optimistic and conservative return assumptions to understand the range of possible outcomes.
  • Separating how much of your future balance comes from your own contributions versus compound growth.
  • Setting a savings target by adjusting inputs until the projected balance reaches a goal you have in mind.

Common mistakes

  • Entering the annual return as a monthly rate. Type the yearly percentage (for example 7); the calculator divides by 12 for you.
  • Treating the expected return as guaranteed. Real markets fluctuate, so the projection is an estimate, not a promise — try a lower rate to see a conservative case.
  • Ignoring inflation. A balance decades from now buys less than the same dollar amount today, so a $1,000,000 projection is not $1,000,000 of today's purchasing power.
  • Forgetting that this model assumes a steady contribution and a constant return every month, while real contributions, raises, fees, and taxes vary over time.
  • Confusing total contributed with total balance. The contributed figure is only the money you added; the rest of the balance is compound growth.

Frequently asked questions

What return rate should I assume?

There is no single correct number — it depends on your investment mix and is never guaranteed. Many people model a diversified long-term portfolio somewhere in the mid-single digits after fees, and lower for bond-heavy or conservative allocations. Try a few rates, including a pessimistic one, to see the range rather than relying on a single optimistic figure.

Does this account for inflation?

No. The projected balance is in future dollars, which buy less than today's dollars. To approximate purchasing power, you can subtract an inflation estimate from your return rate before entering it — for example, use 4% instead of 7% to roughly reflect a 3% inflation drag.

Are taxes and fees included?

No. The model ignores investment fees, taxes on growth or withdrawals, and account-specific rules. Fees in particular compound against you over decades, so a real after-fee result is usually somewhat lower than the gross projection shown here.

When are contributions assumed to be made?

At the end of each month — this is the standard ordinary-annuity assumption. If you contribute at the start of each month, your real balance would be slightly higher, by roughly one extra month of growth on each deposit.

What does the 'total contributed' figure mean?

It is the money you personally put in: your starting savings plus every monthly contribution, or PV + PMT × N. The difference between the projected balance and this number is compound growth — the part your money earned on its own.

Why does an extra five years make such a big difference?

Compound growth accelerates over time because earnings themselves earn returns. The last years before retirement act on the largest balance, so extending the timeline — or starting earlier — adds disproportionately more than the same years would add early on.

Is this calculator financial advice?

No. It is an educational tool that shows the math of compound growth for the numbers you enter. Your actual results depend on markets, fees, taxes, and your personal situation. Consult a qualified financial professional before making retirement decisions.

Sources & references

External references open in a new tab. We are independent and not affiliated with these organizations.

Disclaimer

This calculator provides estimates based on the values you enter and the formula shown. It is not financial advice and may not reflect every fee, tax, or lender requirement. Check figures with a qualified professional before making financial decisions.

  • ✓ Free to use
  • ✓ No sign-up required
  • ✓ Runs entirely in your browser — nothing is uploaded.
  • ✓ Formula and method shown above
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Provided “as is” for general information only — results may be inaccurate, so verify before you rely on them. No warranty; use at your own risk.

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