Retirement Savings Calculator

Whether you’re 20 years from retirement or two years, you need to plan how much to save for retirement. By calculating how much your retirement savings will grow, you can adjust your plan for your savings and investments.

Whether you have a 401(k) plan, deposits like retirement money market accounts, an individual retirement account (IRA), a diversified investment portfolio or other funds, you can determine the average retirement savings you will need to build per year before you reach retirement age so you get to your desired level of retirement income.

How Much Do You Need to Save for Retirement?

To see how much your retirement savings will be worth after your set number of years to save, you’ll need to know:

  • how much you’ve already saved (in taxable and tax-deferred accounts)
  • how much you plan to save per month or per year
  • your tax rate
  • how many years you will save
  • your expected annual gain

When you click “recalculate,” the retirement savings calculator provides the amount to which your current savings will grow given the parameters you selected. It will also tell you the inflation-adjusted amount you will have in the future so you can see if you’re actually saving enough as you’re planning for retirement.

Use the retirement savings calculator below to find out how your savings will grow.

What to Do with This Information

If your results show that you will have a shortfall during retirement, you may want to use the retirement savings calculator to explore different assumptions so you can see how various decisions could affect the outcome.

Perhaps you could reconsider your budget and find room to save more per month. You may want to think about saving for more years or moving to a state with a lower tax rate. Play with the parameters and then notice how the results differ. It may show you a better route to reaching the level of retirement income you decide will be comfortable in retirement.

Taxable Accounts

Tax-Deferred Accounts

Projected Rate of Return/Time Frame

Your current savings will grow to
Inflation adjusted:
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