How much should I save for retirement each month?

Save 10-15% of your income including employer matches. Starting at 25, saving 10% should provide a comfortable retirement. Starting later requires higher percentages. Use our calculator to find your specific target based on goals.

Withdraw 4% of your retirement savings the first year, then adjust for inflation annually. This strategy historically provides income for 30 years without depleting savings. More conservative planners use 3-3.5% for longer retirements.

You can retire when investments generate enough income to cover expenses. Social Security starts at 62 (reduced) or 67 (full). Medicare begins at 65. Use our calculator to determine when your savings will support your desired lifestyle.

What is the difference between 401k and IRA?

401k is employer-sponsored with higher limits ($23,000 in 2024) and potential employer match. IRAs are individual accounts with lower limits ($7,000) but more investment options. Both offer tax advantages; Roth versions provide tax-free withdrawals.

How do I catch up on retirement savings?

After 50, contribute catch-up amounts ($7,500 extra to 401k, $1,000 extra to IRA in 2024). Maximize employer matches, reduce expenses, delay retirement, or plan for part-time work. Even a few extra years of saving and growth helps significantly.

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Retirement Calculator

Plan 401k, IRA, and retirement income needs

0 calculations

Last verified: February 2026Accuracy tested

Calculated in your browser — we never store your dataIndustry-standard financial formulas

Current Age

Retirement Age

Current Savings

Contribution Amount

Expected Annual Return

Withdrawal Rate

Advanced Options

Adjust for Inflation

Show values in today's dollars

Include Social Security

Estimate based on income

Calculation Result

$1,481,088 at retirement

Years until retirement: 35

Total contributions: $260,000

Investment growth: $1,221,088

Monthly income from savings: $4,937

This calculator provides estimates for informational purposes only. Actual results may vary based on lender terms, fees, and tax situations. Consult a financial advisor for personalized advice.

Portfolio Composition at Retirement$1,481,088

18%

82%

Contributions: ${amount}Growth: ${amount}

Starting Savings

$50,000

Monthly Contribution

$500

Investment Growth

$1,221,088

Monthly Retirement Income

$4,937

Retirement Readiness

Nest Egg at Age {age}$1,481,088

Safe Withdrawal ({rate}% rule)$59,244/yr

Monthly Income from Savings$4,937/mo

Note: This calculator is for illustrative purposes only and does not constitute financial advice.Actual returns may vary based on market conditions. Social Security estimates are simplified andactual benefits depend on your complete earnings history. The {rate}% withdrawal rate is based on the Trinity Study but may need adjustment based on your circumstances.

Sources & Methodology

Formula: FV = PV(1+r)ⁿ + PMT×[((1+r)ⁿ-1)/r]

Future value with periodic contributions

Source: Time value of money formula

View full methodology & accuracy testing

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How to Use the Retirement Calculator

Plan for your financial future by projecting how much you'll have saved at retirement. Enter your current age, savings, monthly contributions, and expected return to see your projected retirement nest egg and potential monthly income.

Key Assumptions

Expected Return: Historical stock market average is 7-10% annually
Withdrawal Rate: The 4% rule suggests withdrawing 4% annually for a 30-year retirement
Inflation: Consider that purchasing power decreases over time

The Power of Compound Interest

Starting early is crucial. Money invested in your 20s has decades to compound, potentially growing to many times the original amount. Use our compound interest calculator to visualize growth over different time periods. Learn proven strategies in our Guide to Maximizing Compound Interest.

Related Financial Tools

Calculate your take-home pay to determine how much you can contribute. If you have debt, use our debt payoff calculator to balance savings with debt reduction. For budgeting guidance, read Smart Budgeting with Financial Calculators.

Retirement Savings Guidelines

Aim to save 10-15% of income for retirement
Maximize employer 401(k) matches—it's free money
Consider tax-advantaged accounts (401k, IRA, Roth IRA)
Increase contributions whenever you get a raise

Frequently Asked Questions

A common rule is 25x your annual expenses for a 30-year retirement (the 4% rule). If you spend $50,000/year, aim for $1.25 million. Adjust for desired lifestyle, healthcare costs, and expected Social Security income.