Retirement savings
Project how your retirement savings will grow with regular contributions and compound interest.
Retirement savings
Project how your retirement savings will grow with regular contributions and compound interest.
Small, regular contributions can grow into a surprisingly large balance over a long enough time, thanks to compound interest — your returns start earning their own returns. This calculator projects where your current savings, plus what you keep contributing, could land by the time you retire.
It can help you answer questions like:
- Am I on track for the retirement balance I want?
- How much difference would contributing a bit more each month really make?
- What happens to my projected balance if I retire a few years earlier or later?
What you’ll need to enter:
- Current savings — what you’ve already got saved towards retirement. (Example: $20,000.)
- Monthly contribution — how much you add each month. (Example: $500.)
- Years until retirement — how long you plan to keep contributing. (Example: 25 years.)
- Expected annual return — depends on how the savings are invested; more conservative options tend to average lower returns, growth-focused options higher but with more ups and downs year to year. If you’re unsure, 6-8% is a commonly used long-term assumption, not a guarantee. (Example: 7%.)
How it works
We grow your current savings and every monthly contribution forward using your expected return, compounding month by month over the years you enter.
What the result tells you
With the example numbers, $20,000 today plus $500 a month for 25 years at a 7% return projects to roughly $519,500 by the time you retire.
A few things worth exploring with this calculator:
- Test a small increase in your contribution. Because of compounding, even an extra $50-$100 a month can make a meaningfully bigger difference the earlier you start it.
- See what starting earlier is worth. Try adding a few extra years to see how much more time in the market changes the projected balance — it’s often more powerful than people expect.
- Be realistic about returns. A higher assumed return looks better on paper, but it should reflect how your savings are actually invested, not just a hopeful number.
- Revisit this yearly. Update your current savings and contribution amount each year to keep the projection accurate as your situation changes.
In short: this isn’t a guarantee — it’s a projection to help you judge whether your current plan is roughly on track, or needs adjusting.
Figures and results from these calculators are a general guide only and are not financial or professional advice. Consider getting professional advice, such as from a bookkeeper or accountant, before making decisions based on these results.