Retirement Calculator
Plan retirement saving, income, withdrawals, and savings longevity.
Estimate the retirement balance needed to fund an inflation-adjusted income gap.
Result
Your projected savings are $255,963.60 below the modeled retirement target. The target depends on your income needs, lifespan, return and inflation assumptions.
The entered income gap is the first retirement-year withdrawal, paid at that year’s end; inflation increases subsequent yearly withdrawals. A dollar income target is an annual amount at retirement; a percentage applies to projected final working income. Monthly savings are paid at month end; annual savings at year end; salary-percentage deposits are paid monthly and increase with the entered annual income increase. Other income is treated as inflation-indexed throughout retirement. Returns and inflation remain constant.
How to use this calculator
Estimate the retirement balance needed to fund an inflation-adjusted income gap. Enter amounts in the units shown, select the applicable options, and click Calculate. Use Reset to restore the starting values.
Calculation formula
Target = sum of first-year income gap × (1 + inflation)^(year − 1) / (1 + return)^year; required monthly saving funds target less future current savings.
Assumptions and accuracy
Review timing, rates, fees and result notes when comparing scenarios. Future returns and rates are assumptions rather than guaranteed outcomes. Monetary display follows the currency’s precision; intermediate calculations retain additional digits.
Choose what to calculate
Retirement income calculator
Estimate monthly withdrawals over a selected retirement horizon. Use Savings Longevity to explore how long an entered withdrawal can last.
Related searches: Retirement withdrawal calculator · Retirement calculator with inflation
Open this calculationRetirement savings calculator
Find how much you need to save each month to reach a retirement target. The assumed return is not a guarantee.
Open this calculationHow long will my retirement savings last
Estimate how long savings last with constant effective annual return and month-end withdrawals. The final withdrawal is capped at the remaining balance.
Open this calculationRetirement calculator with social security
Find how much you need to save each month to reach a retirement target. The assumed return is not a guarantee.
Related searches: How much do i need to retire calculator
Open this calculationUnderstanding this calculation
Retirement planning separates the target fund, future saving and retirement withdrawals. Select the mode that answers your question and read its return, inflation and payment-timing assumptions.
Reading your result
- Required savings at retirement
- The target balance for the modeled inflation-adjusted retirement income gap.
- Projected surplus / shortfall
- Projected retirement savings minus the target; a negative amount is a modeled funding shortfall.
- Initial monthly withdrawal
- The first retirement-month payment in Monthly Withdrawal; subsequent payments grow with the entered inflation assumption.
Compare two scenarios
- Compare lifespans with the same balance and return to see how a longer withdrawal period changes income.
- Test a lower return separately, leaving contributions and inflation unchanged, before changing the saving plan.
Check before comparing
- Do not add a monthly contribution and an annual contribution if they describe the same deposits.
- In Required Savings, other retirement income is entered as a monthly retirement amount and modeled as inflation-indexed.
- Savings Longevity uses fixed withdrawals; Monthly Withdrawal models inflation increases. These are different scenarios.
Result explanations checked against this calculator’s local model. Model scope and sources appear below.
Worked examples
Keep annual deposits separate from monthly savings
Age 65; retire at 67; no current balance or monthly deposits; add $1,000 at each year end; effective annual return 6%.
- First year-end deposit grows for one year: 1000 × 1.06 = 1060.
- Second year-end deposit adds 1000 at retirement: 1060 + 1000 = 2060.
The balance at retirement is $2,060. Annual deposits are additional to monthly deposits, not an alternative way to enter the same money.
Try these inputsSave from age 35 to 67 toward 600,000
Age 35; retirement age 67; target $600,000; current savings $30,000; effective annual return 6%.
- Saving horizon = 32 years = 384 monthly deposits.
- Convert the 6% effective annual return to a monthly rate: 1.06^(1/12) − 1.
- Current savings grow to $193,601.60. End-of-month deposits fund the remaining target.
Required monthly saving is $362.74. Twelve monthly deposits total $4,352.89 per year; the alternative single year-end deposit is $4,471.33.
Try these inputsFind an immediate shortfall when retirement starts now
Retire now at age 67; lifespan 69; annual retirement need $12,000; savings $5,000; other income, return and inflation zero.
- Two year-end withdrawals of $12,000 require $24,000.
- There is no remaining saving period.
- Immediate shortfall = 24000 − 5000 = 19000.
Additional savings needed now is $19,000, rather than a monthly saving plan.
Try these inputsCount the smaller final retirement withdrawal
Savings $1,000, withdrawal $300 per month and zero return.
- The first three withdrawals total $900.
- The fourth withdrawal is capped at the remaining $100.
- Actual withdrawals are 300, 300, 300 and 100.
There are four withdrawals totaling $1,000; the final withdrawal is $100.
Try these inputsCommon questions
How do annual and monthly contributions differ?
In Monthly Withdrawal, monthly deposits are made at each month end and the separate annual amount is deposited at each year end before retirement. Enter only genuinely additional annual deposits to avoid double counting.
Should I pay both the monthly and annual plan?
No. The monthly plan and single year-end annual deposit are alternatives. The annual total of monthly savings merely adds twelve monthly payments.
What does an inflation-adjusted balance mean?
It expresses a future nominal amount in the purchasing power of the reference date, using the entered constant inflation assumption.
What if I am already at my retirement age?
In Required Savings, set current age equal to retirement age. There is no remaining saving period, so the result shows Additional savings needed now rather than a zero monthly saving requirement. A shortfall is the target retirement balance minus existing savings, with a minimum of zero.
Scope and assumptions
The saving-plan example uses an effective annual return and end-of-month deposits. Future returns are uncertain; the selected model’s inflation and withdrawal timing are stated separately.
Sources
Calculation notes checked . Examples are mathematical checks under the stated assumptions.
Calculation methods and formulas
Required Savings
Estimate the retirement balance needed to fund an inflation-adjusted income gap.
Target = sum of first-year income gap × (1 + inflation)^(year − 1) / (1 + return)^year; required monthly saving funds target less future current savings.
Saving Plan
Find the periodic saving needed to reach a retirement target.
Monthly saving = (target − future current savings)/annuity accumulation factor.
Monthly Withdrawal
Estimate the initial sustainable monthly withdrawal with subsequent inflation increases.
Retirement balance includes current savings, month-end deposits and additional year-end deposits. Initial monthly withdrawal = retirement balance × (1 + monthly inflation) / real-rate monthly annuity present-value factor.
Savings Longevity
Find how long a retirement balance supports fixed monthly withdrawals.
N = −ln(1 − PV×i/PMT)/ln(1+i); actual month-end withdrawals use ceil(N), with the last withdrawal capped at the available balance.
See our calculation methodology and review status for data versions, rounding and validation limitations.