Retirement Savings Calculator

Project your retirement nest egg and compare it with what you need for the income you want, adjusted for inflation.

Quick answer

A retirement calculator projects your savings at retirement and compares them with the nest egg needed for your target income. It inflates today's income to future dollars and divides by a withdrawal rate, often 4%. Saving $500 a month for 35 years at 7% grows to about $900,527.

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$
%
$
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Projected savings at 65
$1,381,802
Savings needed
$3,640,894
Shortfall
$2,259,092
Sustainable yearly income
$55,272
In 30 years, your savings could reach $1,381,802. Your target income of $60,000 in today's money becomes $145,636 after 3% inflation, so at a 4% withdrawal rate you need about $3,640,894. You are short by $2,259,092 — saving more, retiring later, or a lower withdrawal target would close the gap.

Key takeaways

  • Inflation raises the income you will need.
  • The 4% rule sizes a portfolio at 25× annual spending.
  • Starting earlier matters more than saving more later.
Safe withdrawal rate — The share of a portfolio you can withdraw in year one, then adjust for inflation, with a low risk of running out.

How the retirement calculator works

We grow your current savings and monthly contributions until retirement. Then we inflate your desired income to future dollars and divide by your withdrawal rate (the 4% rule by default) to find the portfolio that can sustain it.

Formula

Nest egg = S(1 + i)^n + PMT × ((1 + i)^n − 1) ÷ i Needed = income × (1 + inflation)^years ÷ withdrawal rate

Standard formula. Further reading: Social Security Administration – Retirement benefits · Investor.gov (U.S. SEC) – Compound interest calculator

Worked example

$500 a month for 35 years at 7%: 500 × ((1 + 0.07/12)^420 − 1) ÷ (0.07/12) = $900,527. At a 4% withdrawal rate that supports about $36,000 a year.

Change any number above and the plain-English explanation updates instantly with your own figures.

Frequently asked questions

What is the 4% rule?

A guideline that withdrawing 4% of your portfolio in the first year, then adjusting for inflation, has historically lasted about 30 years.

Does this include Social Security or pensions?

No. Subtract expected Social Security or pension income from your desired income for a more accurate target.

What return should I use?

Many planners use 5–7% for a diversified portfolio. Use a lower rate to be conservative.

Why adjust for inflation?

$60,000 buys much less in 30 years. At 3% inflation, you would need about $146,000 to match it.

How can I close a shortfall?

Save more, invest for a higher long-run return, retire later, or plan to spend less in retirement.

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Results are estimates for educational purposes and are not financial advice.

Written and reviewed by Muhammad Asif, founder of CalcPane · Formulas verified by automated tests · Updated