Retirement Calculator
Use this retirement calculator to project your savings, estimate monthly retirement income, and see a year-by-year growth breakdown.
For informational purposes only. Not financial advice. Calculations are estimates and may not reflect your exact situation. Consult a qualified financial adviser for personalised guidance.
About Retirement Calculator
This retirement calculator helps you estimate how much you could have saved by the time you stop working. Enter your current age, savings, and monthly contributions to see projected growth over time, along with the monthly income your savings could generate in retirement.
How It Works
The calculator compounds your contributions monthly at the expected annual return rate. It also applies an annual increase to your contributions, modelling salary raises or gradual savings growth. The result is a year-by-year projection showing how your balance builds over time.
Retirement Income Estimate
Using the widely-referenced 4% rule, the calculator estimates your sustainable monthly income in retirement. This rule suggests withdrawing 4% of your portfolio per year, which historically has a strong chance of lasting 30+ years without running out.
Growth Visualisation
A bar chart shows how your savings grow each year, with separate colours for contributions and investment growth. Milestone markers highlight when you reach key amounts like 100K, 500K, or 1M. A collapsible table shows the full year-by-year breakdown.
For shorter-term savings targets, try the savings goal calculator. If you want to model a specific investment's return without the retirement framing, the investment return calculator is a good fit.
All calculations run in your browser. No personal or financial data leaves your device.
Frequently Asked Questions
What is the 4% rule?
The 4% rule is a guideline suggesting you can withdraw 4% of your retirement portfolio in the first year and adjust for inflation each year after. Based on historical market data, this approach has a high probability of making your money last at least 30 years.
What annual return should I use?
A common assumption for a diversified stock portfolio is 7% annually before inflation, or about 4-5% after inflation. More conservative portfolios with bonds might assume 4-6%. The right number depends on your investment mix and risk tolerance.
Does this account for inflation?
The calculator uses nominal returns, not inflation-adjusted returns. To approximate real returns, subtract the expected inflation rate (roughly 2-3%) from your expected annual return. For example, a 7% nominal return with 3% inflation is roughly 4% real growth.
How does the annual contribution increase work?
This models annual raises or increases to your savings rate. If you set it to 2%, your monthly contribution grows by 2% each year. This reflects a common pattern where people save more as their salary increases over their career.
Can I rely on these projections for retirement planning?
These projections are estimates based on steady returns and consistent contributions. Real markets fluctuate, and taxes, fees, and life events all affect outcomes. Use this as a starting point and consult a financial advisor for a comprehensive retirement plan.