Retirement Calculator
Will you have enough money when you retire? Project your retirement savings, estimate income from all sources, and find the gap. Works with any currency.
Try another scenario
Calculate for your country ▼
How to Use This Calculator
Tab "Retirement Projection"
Enter your current age, retirement age, current savings, monthly contribution, and expected annual return. The calculator projects your total nest egg at retirement, showing year-by-year growth in a detailed table.
Tab "Income Streams"
Enter your projected nest egg at retirement, a withdrawal rate (default 4%), your estimated government pension (monthly), and any other income. The result shows your total annual and monthly retirement income from all sources combined.
Tab "Gap Analysis"
Enter your desired annual retirement income and your projected annual income (from the Income Streams tab). The calculator shows the income gap, the additional nest egg needed to close it, and the extra monthly savings required to bridge the gap before you retire.
The Formulas
FV = PV(1+r)n + PMT × [(1+r)n − 1] / r
where PV = current savings, r = monthly rate, n = months, PMT = monthly contribution
Annual withdrawal:
Annual Withdrawal = Nest Egg × Withdrawal Rate (default 4%)
Total retirement income:
Total Income = Annual Withdrawal + Government Pension × 12 + Other Income × 12
Retirement income gap:
Gap = Desired Annual Income − Projected Annual Income
Extra monthly savings to close the gap:
Additional Nest Egg = Gap / Withdrawal Rate
Extra Monthly = Additional Nest Egg × r / [(1+r)n − 1]
All calculations use standard time-value-of-money formulas with monthly compounding. No country-specific tax rates or pension rules are applied. Results are pre-tax estimates.
Worked Examples
Example 1 — Young Saver: Age 30, retire at 65, $50K saved, $800/mo, 7% return
A 30-year-old has $50,000 in retirement savings and contributes $800 per month. They expect a 7% average annual return over 35 years.
After 35 years of consistent saving and compounding growth, the nest egg reaches approximately $1.45 million. The majority of this comes from investment growth, not contributions alone.
Example 2 — Income Streams: $1.45M nest egg + $1,500/mo pension
Using the projected nest egg from Example 1, plus a government pension of $1,500/month and a 4% withdrawal rate.
The combined retirement income from portfolio withdrawals and government pension totals approximately $76,000 per year, or about $6,333 per month.
Example 3 — Gap Analysis: Want $90K/yr, have $76K projected
The retiree wants $90,000 per year in retirement but projects only $76,000. The gap is $14,000 per year.
To close the $14,000/year gap, an additional $350,000 in retirement savings is needed. At 7% annual return over 35 years, that requires approximately $280 extra per month starting today.
Understanding Retirement Planning
Why Start Early?
Compound interest rewards time. A 25-year-old saving $500/month at 7% will have more at 65 than a 35-year-old saving $1,000/month at the same rate. The earlier you start, the more time your money has to grow exponentially. Even small contributions in your 20s can compound into substantial sums by retirement.
The 4% Rule
The 4% rule is a retirement planning guideline suggesting you can withdraw 4% of your portfolio each year for at least 30 years without running out of money. It was derived from historical US market data. While widely used, it is not guaranteed — actual safe withdrawal rates depend on market conditions, portfolio composition, and retirement duration.
Government Pensions
This calculator lets you enter your government pension as a manual monthly amount. Examples include Social Security (US), State Pension (UK), or any national pension system. Check your country’s pension authority for estimates. Government pensions typically replace only a portion of pre-retirement income, which is why personal savings are essential.
Limitations
This calculator assumes constant returns, steady contributions, and no taxes. In reality, returns fluctuate year to year, contributions may change with life events, and taxes will reduce your actual income. Use these projections as a planning tool, not a guarantee. Consult a qualified financial adviser for personalised retirement planning.