Retirement Calculator
Retirement savings grow by compounding your current balance monthly and adding every monthly contribution until retirement age.
Worked example
| Current age | 30 |
|---|---|
| Retirement age | 65 |
| Current savings | $20,000 |
| Monthly contribution | $500 |
| Estimated annual return | 6% |
| Estimated Retirement Savings | $874,826 |
| Total Contributions | $230,000 |
| Total Interest Earned | $644,826 |
How it is calculated
Months = (retirement age - current age) x 12 and monthly rate = annual return / 100 / 12.
Estimated savings = current savings x (1+r)^months + contribution x (((1+r)^months - 1) / r). Total contributions = current savings + contribution x months.
Assumptions and limits
- Assumes a constant return and a fixed contribution; inflation, taxes and withdrawals are not modelled.
- The result is an illustration for planning, not investment advice.
Educational estimate only; not financial, tax, legal or investment advice.
FAQ
How much will I have at retirement?
With $20,000 saved, $500 a month and a 6% return from age 30 to 65, the estimate is $874,826.
How much of that is my own money?
Contributions total $230,000; the remaining $644,826 is estimated growth.
Does the estimate adjust for inflation?
No. Figures are nominal, so future amounts buy less than the same amount today.