How to use the retirement calculator
- Enter your age now and the age you plan to stop working.
- Add the total already saved in retirement accounts, such as a 401(k), IRA, workplace pension, SIPP or RRSP.
- Enter what goes in each month, including any employer match, and an optional yearly increase if you plan to raise contributions with your pay.
- Choose an expected return and an inflation rate. Try more than one return to see a range.
- Set a withdrawal rate to turn the balance into an estimated yearly income.
How the projection is calculated
Contributions go in at the end of each month and the whole balance grows at a monthly rate derived from the annual return, so twelve months of growth equal exactly the return you entered:
Worked example
At 30 you have $25,000 saved and add $600 a month until 65. That is 35 years and $277,000 of your own money. With a 7% annual return, the account grows to $1,293,762.72.
Prices also rise. At 2.5% inflation, $1 in 35 years buys what about 42 cents buys now, so the balance is worth $545,154.18 in today’s money. A 4% withdrawal rate turns that into $21,806.17 a year of income at today’s prices.
Why the “today’s money” figure matters most
Seeing a seven-figure balance can make a plan look finished when it is not. In the example, inflation removes more than half the headline number. Always compare the real figure with what you spend today. If the yearly income is short, the levers are the same four inputs: save more, start earlier, retire later, or accept more investment risk.
The 4% withdrawal rate comes from US research on 30-year retirements using historical stock and bond returns. It is a starting point, not a guarantee. A longer retirement or a cautious portfolio may call for 3% to 3.5%.
Key features
- Shows results in both future and today’s money.
- Optional yearly increase in contributions.
- Income estimate from your chosen withdrawal rate.
- Year-by-year table by age, with chart and CSV export.
Practical use cases
United States. For 2026 the 401(k) employee limit is $24,500, with an extra $8,000 catch-up from age 50 and $11,250 for ages 60 to 63. The IRA limit is $7,500, plus a $1,100 catch-up from age 50. Check that your monthly figure stays within them.
United Kingdom. Workplace pension contributions get tax relief, and you can add up to £20,000 a year to ISAs. From 6 April 2027, savers under 65 can put at most £12,000 of that into cash ISAs; the £20,000 total stays the same. Set the currency to pounds and include your employer’s share. The State Pension is paid on top and is not part of this projection.
Canada. RRSP room is 18% of last year’s earned income, up to $33,810 for 2026, and the TFSA limit is $7,000. CPP and OAS benefits are separate from these savings.