Retirement Savings Calculator
Estimate how much you will have saved by retirement age.
Updated April 2026 · CalcFlow Editorial
What is a Retirement Savings? A retirement savings calculator projects how much money you will accumulate by retirement age, using the future value formula FV = PV x (1+r)^n + PMT x [((1+r)^n - 1) / r], accounting for your current savings, regular contributions, assumed rate of return, and years until retirement.
Rule of Thumb
Save at least 15% of gross income for retirement, including any employer 401(k) match. The 4% rule states you can safely withdraw 4% of your nest egg annually in retirement without running out of money over a 30-year horizon (based on the Trinity Study, updated 2024).
Example Calculation
Starting at age 30 with $20,000 saved, contributing $500/month at a 7% average annual return: by age 65 you would have approximately $932,000. Starting at 40 with the same inputs yields only $432,000 — a $500,000 cost of waiting a decade.
Key Facts
- •The 2024 IRS 401(k) contribution limit is $23,000 per year ($30,500 if age 50+), plus employer match.
- •Only 56% of American workers have access to a workplace retirement plan; of those, 83% participate (U.S. Department of Labor, 2023).
- •The median retirement savings for Americans aged 55-64 is $134,000 — far short of the $1M+ typically recommended (Federal Reserve SCF, 2022).
- •Social Security replaces approximately 40% of pre-retirement income for average earners; financial planners target 70-90% total replacement rate.
How to Use
- Enter your current retirement savings.
- Enter your monthly contribution amount.
- Set your current and target retirement ages.
- Adjust the expected return and inflation rate.
- Click Calculate to see your projected balance.
Formula
Future Value = PV x (1+r)^n + PMT x [((1+r)^n - 1) / r]