Retirement Calculator

Plan for retirement with your current age, retirement age, life expectancy, savings, contributions, expected returns and inflation. Tell it the monthly income you want in today's money and it estimates the savings needed at retirement, compares that with your projected savings, and suggests how much more to save each month to close any gap.

How to use the Retirement Calculator

1. Enter your current age, planned retirement age and a life expectancy to plan for.
2. Enter current retirement savings and your monthly contribution.
3. Set expected returns before and during retirement and an inflation rate.
4. Enter the monthly income you want from savings, in today's money.
5. Press Calculate to see projected versus required savings, the gap and a chart.

Features

• Separate return assumptions before and during retirement
• Income target that rises with inflation every month
• Shortfall or surplus plus extra monthly saving needed
• Balance-by-age chart, estimated depletion age and CSV export

Benefits

• Find out early whether your current saving rate is enough
• Test retiring earlier or later, or changing your income goal

Frequently asked questions

How is the required amount calculated?

It is the present value, at retirement, of monthly withdrawals that start at your desired income adjusted for inflation and keep rising with inflation until your life expectancy, discounted at the post-retirement return.

Should I include pensions or state benefits?

Subtract any guaranteed pension or benefit income from your desired monthly income, because the calculator assumes all income comes from savings.

How reliable is this projection?

It assumes constant returns and inflation, while real markets fluctuate. Results are estimates for planning and education, not financial advice. Consider speaking to a qualified adviser.

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