Retirement Calculator

Estimate the balance at a later age from savings and monthly contributions, plus an optional match. An estimate. Taxes and inflation are not included.

Current Age *

Retirement Age *

Current Savings ($) *

Monthly Contribution ($) *

Annual Return (%) *

Employer Match (%)

Smart Tips

• Retirement age has to be a later whole-year age than current age. Months equal that difference times 12.

• Current savings compound every month. The employer match is not applied to current savings.

• A blank employer match means zero. 50 adds half of each monthly contribution at the end of the month.

• An annual return of 0 leaves the balance equal to savings plus deposits, so growth is zero.

• The balance is an estimate. Taxes, required minimum distributions, and inflation are not included.

The Formula

n = (retirement age − current age) × 12
i = annual return ÷ 100 ÷ 12
D = contribution × (1 + match ÷ 100)
Balance = P × (1 + i)^n + D × [((1 + i)^n − 1) ÷ i]

n = Months
Whole years until retirement, times 12

i = Monthly rate
Annual return divided by 100, then by 12

P = Current savings
Compounds for every month. The match is not applied to P

D = End-of-month deposit
Contribution plus the match on that contribution

If the annual return is 0, the deposit term is D × n instead of the fraction. Contributions = P + D × n. Growth = balance − contributions. The last deposit does not earn another month of return. Taxes, required minimum distributions, and inflation are not included.

Key Insights

Monthly Compounding

The annual return is divided by 12 and applied every month to the balance already saved.

End of the Month

Contributions and the match are added after that month's growth. The last deposit earns no further return in this estimate.

Match Is a Deposit

Employer match increases the monthly deposit. It is counted in contributions, not in growth.

Left Out on Purpose

Taxes, required minimum distributions, and inflation are not in this estimate. There is no input for them.

Frequently Asked Questions

The balance is an estimate. Months n = (retirement age − current age) × 12. Monthly rate i = annual return ÷ 100 ÷ 12. Deposit D = monthly contribution × (1 + match percent ÷ 100). Current savings P compound as P × (1 + i)^n. End-of-month deposits, including the match, have future value D × [((1 + i)^n − 1) ÷ i]. If the annual return is 0, that deposit term is D × n. Balance = compounded savings + the future value of the deposits. Contributions = P + D × n. Growth = balance − contributions.

Contributions are current savings, plus every monthly contribution, plus the employer match on those contributions. Growth is the balance minus contributions. Growth can be negative when the annual return is negative. The match is money added with each contribution, so it is part of contributions.

The match is an optional percent of the monthly contribution. A 50% match on a $200 contribution adds $100 at the end of that month. It is not a percent of pay, and there is no salary cap. Leave the field blank for no match. The match is not applied to current savings.

No. Taxes, required minimum distributions, and inflation are not included. The annual return is compounded monthly as entered. It is not adjusted for inflation.

Current age and retirement age are whole years. Retirement age must be greater than current age. Current savings and the monthly contribution may be zero. The annual return may be zero or negative. An annual return of −1,200% or lower is rejected because the monthly balance would not stay positive.

No. This is an estimate from the ages, savings, contribution, return, and match on this form. It is not a retirement plan.

The formulas in the formula section on this page are the ones this calculator runs. No outside rate table is used unless the page says otherwise. Source: SEC Investor.gov retirement toolkit: https://www.investor.gov/additional-resources/retirement-toolkit.

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Balance at Retirement

Enter values to calculate

Contributions

Growth

Note:Estimate only. The annual return is divided by 12 and applied each month. Contributions and the employer match are added at the end of the month. Taxes, required minimum distributions, and inflation are not included.