Retirement Savings Calculator
Project how much your current retirement nest egg will grow by the time you retire, based on your age, target retirement age, and expected annual return. Use it to identify savings gaps early and adjust your plan accordingly.
About this calculator
This calculator applies the compound interest formula to your existing savings balance, projecting its future value at retirement without additional contributions. The formula is: Future Value = Current Savings × (1 + Expected Return / 100)^(Retirement Age − Current Age). The exponent represents the number of years your money has to compound. Even small differences in the expected return or the number of years can have a dramatic impact on the final balance, thanks to exponential growth. Note that this formula models the growth of existing savings only — it does not factor in additional monthly or annual contributions. Use it alongside a broader retirement planning tool for a complete picture.
How to use
Imagine you are 35 years old, plan to retire at 65, have $50,000 saved, and expect a 7% average annual return. Enter those values: Future Value = $50,000 × (1 + 7/100)^(65−35) = $50,000 × (1.07)^30 = $50,000 × 7.6123 ≈ $380,613. Without adding another dollar, your current $50,000 nest egg would grow to roughly $380,613 by age 65 at a 7% annual return, demonstrating the powerful effect of long-term compounding.
Frequently asked questions
What expected annual return should I use for retirement projections?
A commonly used benchmark for a diversified stock-and-bond portfolio is 6–7% per year after inflation, based on long-run historical averages for the U.S. stock market. Conservative planners often use 5–6% to build in a margin of safety. If your portfolio is heavily weighted toward bonds or cash, a lower rate of 3–4% may be more realistic. Always stress-test your projection with both an optimistic and a pessimistic return assumption to understand the range of possible outcomes.
Why does this calculator not include monthly contributions?
This calculator isolates the growth of your existing savings balance to show the power of compounding on money you already have. Adding monthly contributions requires the future value of an annuity formula, which is a separate calculation. For a complete retirement projection that includes ongoing contributions, you should combine this result with a savings contribution calculator. Separating the two components helps you understand exactly how much of your future balance comes from your current savings versus future deposits.
How does starting age affect retirement savings growth?
Starting earlier is one of the most powerful levers in retirement planning because it maximizes the number of compounding periods. For example, $10,000 invested at 7% for 40 years grows to about $149,745, but the same amount invested for only 20 years reaches just $38,697. That 20-year head start produces nearly four times more wealth. This is why financial advisors consistently emphasize starting retirement savings as early as possible, even with small amounts.