Money Calculators
Use this retirement calculator to project future savings and estimate whether current contributions are on track for a target amount.
Live calculator
300 monthly compounding periods.
Compared with a $1,000,000 target.
Estimated monthly contribution needed to reach the target.
At the current contribution rate, the projected balance is $819,968.51. To target $1,000,000.00 in 25 years, the calculator estimates $959.79 per month.
Year-end balances using monthly contributions and monthly compounding.
| Year | Contributions | Growth | Balance |
|---|---|---|---|
| Year 1 | $83,400.00 | $4,860.73 | $88,260.73 |
| Year 2 | $91,800.00 | $10,539.35 | $102,339.35 |
| Year 3 | $100,200.00 | $17,086.31 | $117,286.31 |
| Year 4 | $108,600.00 | $24,555.17 | $133,155.17 |
| Year 5 | $117,000.00 | $33,002.78 | $150,002.78 |
| Year 25 | $285,000.00 | $534,968.51 | $819,968.51 |
Use this as a planning estimate. Taxes, fees, rates, account terms, provider policies, local rules, and timing can change real-world results.
Quick answer
Retirement Calculator calculates projected retirement balance from current savings, monthly contribution, annual return, years to invest, and target amount. The visible formula is Future balance = current savings x (1 + r)^n + monthly contribution x (((1 + r)^n - 1) / r).
Formula
Future balance = current savings x (1 + r)^n + monthly contribution x (((1 + r)^n - 1) / r)This estimate assumes monthly compounding, steady monthly contributions, and no withdrawals before the target date.
How to use
Example
Calculator use
Before relying on it
Details
These notes make the assumptions explicit, especially where the same search query can mean slightly different things.
The balance is projected from the return you enter. Real investment returns, inflation, taxes, and fees can change the outcome materially.
The estimate assumes steady monthly contributions. Lump sums, employer matches, and skipped contributions should be modeled separately.
A gap is a prompt to test higher contributions, a longer horizon, a different target, or a lower return case.
Benchmarks
The calculator is a decision aid, not a fixed rule. Use the output to compare scenarios and document your assumptions. Benchmark ranges are broad planning heuristics unless this page names a specific source for the range.
When retirement is closer, savings rate usually matters more than compounding.
Return assumptions can strongly affect projections over multi-decade timelines.
A gap means contribution, return, time, or target assumptions may need adjustment.
Calculator accuracy
The formula, inputs, example, and limitations are shown so the result is checkable, not just a number in a box.
Future balance = current savings x (1 + r)^n + monthly contribution x (((1 + r)^n - 1) / r)
Current savings, Monthly contribution, Annual return, Years to invest, Target amount
Money results are planning estimates. Actual taxes, account terms, rates, fees, timing, local rules, and provider policies can change the real-world result.
June 6, 2026
Toolkit Shelf. Retirement Calculator. Last reviewed June 6, 2026. https://toolkitshelf.com/tools/retirement-calculator
FAQ
No. It is a projection based on the return and contribution assumptions you enter.
Use a conservative long-term return assumption and test several scenarios because future returns are uncertain.
No. It projects account balance from contributions and returns only. Taxes, fees, and inflation should be considered separately.
Small changes to return, contribution, or timeline can create large differences over decades, so conservative and optimistic cases are both useful.
No. Use it for planning and comparison. Real decisions can change after exact rates, balances, fees, taxes, account terms, timing, and personal details are verified.
Small changes in rates, payment timing, taxes, fees, balances, or income can materially change the result, so the assumptions need to stay visible.