Retirement Calculator — Plan Your Retirement Savings
Use this free retirement calculator to project how much your retirement savings will grow, estimate your monthly retirement income, or find out exactly how much you need to save each month to reach your retirement goals. Includes year by year projections and milestone tracking.
Retirement Calculator
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How to Use the Retirement Calculator
Choose your mode — How Much Will I Have or How Much Do I Need. Enter your current age, retirement age, savings details and expected return. The calculator projects your retirement balance, estimated monthly income and how long your money will last.
How Much Do I Need to Retire?
A common guideline is the 25x rule — multiply your desired annual retirement income by 25 to find your target retirement pot. For example if you want $40,000 per year in retirement you need approximately $1,000,000 saved.
Another popular rule is the 4% rule — withdrawing 4% of your retirement pot per year. A $1,000,000 pot at 4% withdrawal gives $40,000 per year or $3,333 per month.
How Early Should I Start Saving for Retirement?
The earlier the better — compound interest means starting at 25 instead of 35 can more than double your final balance. Here’s an example saving $500 per month at 7% annual return:
Starting at age 25 — $1,444,969 by age 65
Starting at age 35 — $606,438 by age 65
Starting at age 45 — $227,478 by age 65
Starting 10 years earlier more than doubles your retirement pot. Starting 20 years earlier gives you more than six times as much.
What Return Should I Expect?
Expected returns vary by investment type. General guidelines for long term averages:
Cash savings accounts — 2-5% in 2026
Bonds — 3-5%
Balanced portfolio (stocks + bonds) — 5-7%
Stock market index funds — 7-10% long term average
Property — varies significantly by location
Most retirement calculators use 6-7% as a reasonable assumption for a diversified long term portfolio. Always use a conservative estimate to avoid over-optimism.
Important Information
This calculator provides estimates for informational purposes only and should not be considered financial advice. Results are based on the information you enter and may not reflect real-world outcomes.
Investment returns, inflation, and retirement income needs can change over time. Always consult a qualified financial advisor before making financial decisions.
FAQs
How much should I have saved for retirement by age?
A common benchmark is to have 1x your annual salary saved by age 30, 3x by 40, 6x by 50 and 10x by retirement age. These are guidelines not rules — use the calculator above to work out your personal target.
What is the 4% rule?
The 4% rule suggests withdrawing 4% of your retirement savings per year. Research suggests this rate gives a high probability of your savings lasting 30 years. On a $500,000 pot that’s $20,000 per year or $1,667 per month.
Does inflation affect my retirement savings?
Yes significantly. £100,000 today will be worth much less in 20-30 years due to inflation. The calculator accounts for inflation to show you the real purchasing power of your projected savings in today’s money.
Can I retire early?
Early retirement is possible with aggressive saving and investing. The FIRE movement (Financial Independence Retire Early) typically targets saving 50-70% of income. Use the How Much Do I Need mode to calculate what’s required for your target retirement age.
What is a good monthly retirement income?
This depends entirely on your lifestyle and location. A common target is 70-80% of your pre-retirement income. Use the calculator to work backwards from your desired monthly income to find your savings target.
Is this calculator free?
Yes completely free with no sign-up needed.