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Retirement Savings Calculator

A retirement savings calculator projects what your account could be worth on the day you stop working. It needs five things: your age now, your retirement age, your balance, your monthly saving and a yearly return.

The starting figures are age 40, retirement at 67, $25,000 already saved, $800 a month and a 6 percent return.

years
years
$
$
%
Balance at retirement
$771,056
Total you put in
$284,200
Growth
$486,856
Years of saving
27
Year by year
YearTotal put inBalance
41$34,600$36,410
42$44,200$48,525
43$53,800$61,386
44$63,400$75,040
45$73,000$89,537
46$82,600$104,928
47$92,200$121,268
48$101,800$138,616
49$111,400$157,034
50$121,000$176,588
51$130,600$197,348
52$140,200$219,389
53$149,800$242,789
54$159,400$267,632
55$169,000$294,007
56$178,600$322,009
57$188,200$351,739
58$197,800$383,302
59$207,400$416,811
60$217,000$452,388
61$226,600$490,159
62$236,200$530,259
63$245,800$572,833
64$255,400$618,032
65$265,000$666,019
66$274,600$716,966
67$284,200$771,056
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How the balance is worked out

The calculator counts 324 months from age 40 to age 67. Each month your balance grows by one twelfth of the 6 percent yearly return and then your $800 deposit goes in. The final balance is what is left after the last month.

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Worked example

A saver aged 40 who puts $800 a month into a retirement account until 67 makes 324 deposits of $800. At 6 percent the balance reaches $771,056.

Growth contributes $486,856. That is 63 percent of the balance.

Questions about this calculator

What is $771,056 worth after 27 years of inflation?

At 2.5 percent a year prices rise by a factor of 1.95. The $771,056 would then buy about as much as $395,860 does at the start.

What if you retired 3 years earlier, at 64, when saving $800 a month from age 40 to 67 at 6 percent?

The balance would be $618,032 instead of $771,056. That is $153,024 less.

What if you worked 3 years longer, to 70, when saving $800 a month from age 40 to 67 at 6 percent?

The balance would reach $954,176 instead of $771,056. That is $183,121 more.

What would an extra $100 a month add when saving $800 a month from age 40 to 67 at 6 percent?

The balance at 67 would be $851,711 instead of $771,056. The extra deposits total $32,400.

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This page is for education only and is not financial or tax advice.