Calculate retirement savings and future value. Free online retirement calculator with formula, examples, and FAQ to plan your retirement.
Retirement planning is one of the most important financial decisions you will make. The retirement calculator helps you estimate how much you will have saved by the time you retire, based on your current savings, monthly contributions, and expected investment returns. Starting early and contributing consistently are the keys to building a substantial retirement fund.
Future Savings = Current Savings × (1 + r)^n + Monthly Contribution × [((1 + r)^n - 1) / r]Where r is the monthly rate of return (annual rate / 12 / 100) and n is the total number of months until retirement. The formula combines the compound growth of existing savings with the future value of monthly contributions (an ordinary annuity). Both components grow through compounding.
| Input | Output |
|---|---|
| Age 30, retire at 60, savings: $50,000, contribution: $500/month, 8% return | Future Savings: $796,341.44, Contributions: $180,000, Returns: $566,341.44 |
| Age 40, retire at 65, savings: $100,000, contribution: $1,000/month, 7% return | Future Savings: $856,421.30, Contributions: $300,000, Returns: $456,421.30 |
| Age 25, retire at 55, savings: $20,000, contribution: $300/month, 10% return | Future Savings: $652,649.81, Contributions: $108,000, Returns: $524,649.81 |