Formula
Retirement projection 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.
Retirement Calculator
Use this retirement calculator to project future savings and estimate whether current contributions are on track for a target amount.
Planning estimate
Live calculator
Retirement projection
Projected balance$819,968.51
300 monthly compounding periods.
Projected gap$180,031.49
Compared with a $1,000,000 target.
Needed per month$959.79
Estimated monthly contribution needed to reach the target.
What the retirement projection means
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.
Projection checkpoints
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.
How to use
Steps
- Enter current retirement savings.
- Enter monthly contribution and annual return assumption.
- Choose years to invest.
- Compare the projected balance with a retirement target.
Example
Sample calculation
Current savings$75,000
Monthly contribution$700
25 years at 6%$819,969
Target gap$180,031 below $1M
Calculator use
Best for
- Estimating savings, budget, debt, tax, interest, retirement, or net-worth scenarios before changing a money plan.
- Comparing monthly contributions, withdrawals, balances, interest rates, payoff order, or tax assumptions with the math visible.
Before relying on it
Check first
- Treating an estimate as tax filing advice, investment advice, guaranteed return, or an official account balance.
- Leaving out fees, taxes, inflation, irregular bills, employer benefits, penalties, changing rates, or timing differences.
- Comparing scenarios with different time horizons, compounding assumptions, or gross versus after-tax amounts.
Details
What to know before using the result
Projection onlyNot a forecast
The balance is projected from the return you enter. Real investment returns, inflation, taxes, and fees can change the outcome materially.
Contribution timingMonthly deposits
The estimate assumes steady monthly contributions. Lump sums, employer matches, and skipped contributions should be modeled separately.
Target gapAction planning
A gap is a prompt to test higher contributions, a longer horizon, a different target, or a lower return case.
Benchmarks
How to read the result
Short horizon: Contribution-driven.
When retirement is closer, savings rate usually matters more than compounding.
Long horizon: More compounding.
Return assumptions can strongly affect projections over multi-decade timelines.
Target gap: Action signal.
A gap means contribution, return, time, or target assumptions may need adjustment.
Calculator accuracy
Methodology and assumptions
Formula, inputs, limitations and review record
Formula
Future balance = current savings x (1 + r)^n + monthly contribution x (((1 + r)^n - 1) / r)
Inputs used
Current savings, Monthly contribution, Annual return, Years to invest, Target amount
Limitations
Money results are planning estimates. Actual taxes, account terms, rates, fees, timing, local rules, and provider policies can change the real-world result.
Review record
Catalog QA baseline on June 6, 2026. This date marks the catalog-wide automated and editorial QA baseline, not a tool-specific expert review.
Cite this page
Toolkit Shelf. Retirement Calculator. https://toolkitshelf.com/tools/retirement-calculator
FAQ
Common questions
Is this retirement projection guaranteed?
No. It is a projection based on the return and contribution assumptions you enter.
What return should I assume?
Use a conservative long-term return assumption and test several scenarios because future returns are uncertain.
Does this include taxes or inflation?
No. It projects account balance from contributions and returns only. Taxes, fees, and inflation should be considered separately.
Why should I test multiple retirement scenarios?
Small changes to return, contribution, or timeline can create large differences over decades, so conservative and optimistic cases are both useful.
Leave passwords, account numbers, and private medical or tax information out of your report.