Retirement Savings Calculator
Estimate how your current savings and monthly contributions could grow by retirement, for savers in the US and Canada. Adjust the assumptions and compare outcomes instantly.
Model a scenario
Use a whole number from 18 through 80.
Must be later than your current age, up to 100.
Total saved so far, up to $1 trillion.
Added monthly, up to $1 billion per month.
Hypothetical annual rate from -20% through 30%.
Over 35 years (age 30 to 65), contributions and modeled growth combine to reach this projection.
On track for your $1,000,000.00 target — based on the 25x rule of thumb, not personalized advice.
- Total contributed
- $230,000.00
- Total interest earned
- $900,650.34
- Years to retirement
- 35
What if the return changes?
How retirement savings growth is calculated
This calculator applies the same compound-growth-with- contributions math used by the Compound Interest Calculator, run monthly from your current age through your retirement age. Your current savings compound monthly at the expected annual return, and your monthly contribution is added as an annuity at the end of each month.
FV = P(1 + r/12)12t + PMT × (((1 + r/12)12t − 1) / (r/12))- FV
- Projected balance at retirement
- P
- Current retirement savings
- r
- Expected annual rate of return
- t
- Years until retirement
- PMT
- Monthly contribution
If you enter a desired annual retirement spending amount, the calculator also shows a suggested nest egg using the widely cited “25x rule” (also known as the 4% rule): a target balance of 25 times your annual spending. This is a general rule of thumb popularized in retirement-planning literature, not a personalized recommendation, and it does not account for your specific circumstances, investment mix, or risk tolerance.
$20,000 today plus $500 per month from age 30 to 65
A 30-year-old with $20,000 in current retirement savings, contributing $500 per month at a hypothetical 7% annual return until age 65 (35 years), reaches a projected balance of $1,130,650.34. Of that, $230,000 comes from contributions and the remaining $900,650.34 is modeled interest.
With a desired annual retirement spending of $40,000, the 25x rule suggests a nest egg of $1,000,000. Since the projected balance exceeds that target, this scenario is shown as on track — a neutral, rule-of-thumb comparison, not a guarantee or personalized recommendation.
This is an educational projection. Actual savings and investment returns can change, and taxes, fees, inflation, and market volatility are not included unless explicitly modeled.
What this calculator assumes
- The monthly contribution and expected annual return stay constant for the full period, from current age to retirement age.
- Contributions are made at the end of each month and compound monthly.
- No Social Security, CPP, pension, or other retirement income is modeled — this tool only projects your own savings.
- Taxes, fees, withdrawals, and inflation are excluded.
- The 25x nest-egg figure is a general heuristic only, not a personalized recommendation, and is shown solely when you provide a desired annual retirement spending amount.
Understanding the Retirement Savings Calculator
Retirement is the longest-term financial goal most people ever have, and its size can feel paralyzing. This calculator makes it concrete: it projects what your current savings and monthly contributions could grow into by the age you plan to stop working, and compares that projected nest egg against a simple rule-of-thumb target based on the income you want in retirement.
The point is not a single magic number but a sense of direction — whether your current pace lands you comfortably, roughly on track, or short — and which levers (saving more, working a little longer, or a different return) move the outcome most. It works for savers in both the US and Canada, whatever tax-advantaged accounts you use.
Who this calculator is for
- Early-career saverswho want proof that starting now, even with modest amounts, matters more than a bigger contribution later.
- Mid-career professionalschecking whether their current contribution rate is on pace for the retirement lifestyle they have in mind.
- Anyone with an employer matchseeing how much faster the balance grows once matched 401(k) or group-RRSP contributions are included.
- Savers over 50modeling the impact of catch-up contributions in the final stretch before retirement.
- US and Canadian householdstranslating 401(k)/IRA or RRSP/TFSA balances and contributions into a projected retirement pot.
Why it matters
- It turns an abstract, decades-away goal into a projected dollar figure you can actually react to, instead of a vague worry.
- It makes the power of time visible — for a young saver, the majority of the final balance is typically growth, not contributions, which is the strongest argument for starting early.
- It lets you weigh contribution rate against expected return, and shows that the amount you save is the lever you control, while the return is one you can only assume.
- It benchmarks your projection against the widely cited 25x rule of thumb, giving a quick, neutral read on whether the pace looks adequate for your desired spending.
- It rewards small, permanent increases: nudging the monthly contribution up — for instance to capture a full employer match — compounds into a materially larger nest egg over the years.
How to use this calculator
- Enter your current age and the age you plan to retire — the gap between them is your growth runway.
- Add your current retirement savings — the combined balance of your 401(k), IRA, RRSP, TFSA, or other retirement accounts.
- Set your monthly contribution. If you have an employer match, include both your contribution and the match, since both compound for you.
- Choose an expected annual rate of return. Many people model a conservative long-run figure for a diversified portfolio and treat it as hypothetical, not guaranteed.
- Optionally enter your desired annual retirement spending to see the 25x rule-of-thumb nest-egg target alongside your projection, then compare the two.
How to read your result
The headline is your projected balance at retirement, split into what you contributed and what growth added on top. For a long horizon, the growth portion usually dwarfs contributions — a direct illustration of why decades in the market matter. If you entered a desired spending figure, the 25x target sits beside it: a projected balance at or above 25 times your annual spending reads as on track under that rule of thumb, while a shortfall is a prompt to adjust.
Treat the comparison as a compass, not a verdict. The 25x rule is a general heuristic, and the projection assumes a steady return every year — reality is bumpier. Use the gap between your projection and target to test changes: a slightly higher contribution, a couple more working years, or capturing an employer match you are leaving on the table. Small, sustainable adjustments made early tend to outperform dramatic ones made late.
- The projection is in nominal dollars — it does not adjust for inflation. A million dollars decades from now buys less than a million today, so a future balance can look larger than its real purchasing power. Consider modeling a return net of inflation to see the result in today's dollars.
- A constant annual return hides sequence-of-returns risk. Real markets deliver good and bad years in an unpredictable order, and a run of poor returns near retirement can matter far more than the average suggests.
- No Social Security, CPP, Old Age Security, or employer pension is included — this tool projects only the savings you enter. Those income sources can meaningfully reduce the nest egg you personally need.
- The 25x rule of thumb is a general guideline, not a personalized recommendation. Your real number depends on your investment mix, tax situation, longevity, and how flexible your spending is.
- Taxes on withdrawals differ sharply by account. A traditional 401(k) or RRSP is taxed on withdrawal, while a Roth IRA or TFSA generally is not — so equal balances can fund very different after-tax incomes.
- Always contribute at least enough to capture your full employer match — in a 401(k) or group RRSP, it is an immediate, guaranteed addition to your savings that the calculator will compound for decades.
- If you are 50 or older, model catch-up contributions: US 401(k) and IRA rules allow higher annual limits, and boosting contributions in the final decade can close a surprising amount of a gap.
- Coordinate account types — many savers use a mix (e.g. traditional plus Roth, or RRSP plus TFSA) to balance a tax deduction today against tax-free income later; re-run the projection as your contributions shift between them.
Frequently asked questions
What is the 25x / 4% rule?
It is a widely cited rule of thumb suggesting that a portfolio of about 25 times your annual spending (equivalent to withdrawing roughly 4% in the first year) may sustain a typical retirement. It comes from historical market studies, not personalized advice, and real outcomes vary with market conditions, spending changes, taxes, and how long you live.
Should I include my employer match in the monthly contribution?
Yes. An employer match — whether in a US 401(k) or a Canadian group RRSP — is money added to your account that compounds alongside your own contributions. Including it gives a truer picture of your savings pace, and capturing the full match is usually the highest-return move available to you.
How should US 401(k)/IRA and Canadian RRSP/TFSA balances be entered?
Combine the balances of whichever retirement accounts you hold into the current-savings field, and enter your total monthly contribution across them. The calculator projects growth regardless of account type; the accounts differ mainly in their tax treatment and contribution limits, which affect how much you can add and how withdrawals are taxed.
Why isn't inflation included?
To keep the projection transparent, figures are shown in nominal (today's-dollar) terms without an inflation adjustment. Inflation erodes future purchasing power, so a large future balance is worth less than the same amount today. To approximate real growth, enter a return net of your expected inflation rate.
Does this account for Social Security, CPP, or a pension?
No. The tool projects only the savings and contributions you enter. Social Security (US), the Canada Pension Plan and Old Age Security (Canada), and employer pensions are separate income streams that can reduce how large a personal nest egg you need — factor them in when judging whether your projection is enough.
How much should I be contributing?
There is no universal figure, but a common guideline is to save around 10-15% of income toward retirement, including any employer match, adjusting up if you started late. Rather than anchoring on a rule, use the calculator to find the contribution that closes the gap between your projection and your desired-spending target.
Sources and review notes
- Consumer Financial Protection Bureau — Retirement
- Government of Canada — Canadian Retirement Income Calculator
Methodology last checked Jul 14, 2026. Formula implementation is covered by deterministic unit tests. No financial professional review is claimed yet.