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Retirement Calculator

Estimate how much you will have saved by retirement.

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Include any employer contribution.

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The share of your savings you take out each year. 4% is a common rule of thumb.

Savings at retirement

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In today's money (after inflation)
Monthly income it could provide
In today's money
You contribute
Investment growth

Results are estimates for general information only and are not financial advice. Check important figures with a qualified professional or your lender. Read our disclaimer.

When to use it

The retirement calculator estimates how much you could have saved by the time you retire, what that’s worth in today’s money, and the monthly income it might provide. Use it to check whether you’re on track, see how much difference saving a little more makes, decide when you could retire, or start planning if you haven’t saved yet.

How to estimate your retirement savings

  1. Choose your Currency.
  2. Enter Your age and your planned Retirement age.
  3. Enter your Retirement savings today and how much You save each month.
  4. Set the Investment return / year, Inflation / year and the Yearly withdrawal rate in retirement.
  5. Read your Savings at retirement, its value In today’s money, the Monthly income it could provide (also in today’s money), and how much comes from your contributions versus Investment growth.

A worked example

You’re 30, have $20,000 saved and put away $500 a month. With a 6% return, 2.5% inflation and a 4% withdrawal rate, you’d have about $840,524 at 65. In today’s money that’s about $354,172. It could provide around $2,802 a month, or $1,181 a month in today’s money. You’d contribute $230,000 yourself; $610,524 would come from investment growth.

The power of starting early

In that example, about two-thirds of the final pot builds up in the last 15 years, because returns build on earlier returns. Starting five years earlier often makes a bigger difference than saving much more later. If you’re starting late, increasing contributions and working a little longer both help significantly.

Tips

  • Use employer matching if your workplace offers it; it’s free money.
  • Increase savings with each pay rise, even by 1%.
  • Check fees: a 1% yearly fee can reduce your final pot by about a fifth over 35 years.
  • Revisit the plan yearly with your actual savings.

Testing scenarios

Try the same plan with returns of 4%, 6% and 8% to see a cautious, middle and hopeful outcome. Then change one thing at a time, such as saving $100 more a month or retiring two years later, to see which makes the biggest difference for you.

Common mistakes

  • Ignoring inflation, which makes the future pot look bigger than it really is.
  • Using a very high return that markets may not deliver.
  • Forgetting other income, such as state pensions, or other costs, such as healthcare.

See how money grows with the Compound Interest Calculator, set nearer-term targets with the Savings Goal Calculator, or check rising prices with the Inflation Calculator.

Frequently asked questions

What investment return should I use?

Many people use 5 to 7% a year for a mixed portfolio of shares and bonds over the long term, and lower figures for cautious investments. Returns vary a lot from year to year, so test a cautious and an optimistic rate.

What does "in today's money" mean?

Prices rise over time, so $840,000 in 35 years will buy much less than $840,000 today. The calculator adjusts for your inflation rate to show what the result would be worth now.

What is the withdrawal rate?

The share of your savings you take out each year in retirement. 4% is a widely used rule of thumb for savings lasting around 30 years, though the right rate depends on your situation.

Does it include pensions or Social Security?

No. It covers your own savings. Add state pensions, workplace pensions or Social Security separately to see your total retirement income.

Is this financial advice?

No. It's a long-term estimate. For important decisions, speak to a qualified financial adviser.

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