Retirement Calculator
Check whether you are on track for retirement and how much extra to save each month.
How to use: Enter your age, retirement age, savings and monthly contribution to see if you are on track.
How to use the Retirement Calculator
This calculator answers two questions: how much will you have at retirement, and how much do you need? It first grows your current savings and monthly contributions until your retirement age using the return you expect.
Next it converts your desired monthly income from today’s money into future money using inflation, because prices will probably be higher when you retire. It then calculates the lump sum required so that, after retirement, your investments can pay that growing income until the age you choose to plan for.
If the projected savings fall short, the tool shows the shortfall and the extra monthly amount you would need to save from now on. If you are ahead, it shows your surplus. The 4% guideline figure gives a second opinion: it is the income you could withdraw in the first year if you spent 4% of your final balance.
Treat every number as an estimate. Investment returns vary, and the calculator does not include taxes, pensions, social security or one-off costs such as healthcare. Run a few scenarios with lower returns and later retirement ages to see how sensitive your plan is.
Frequently asked questions
What is the 4% rule?
It is a guideline suggesting you can withdraw about 4% of your portfolio in the first year of retirement, then adjust for inflation, with a good chance the money lasts around 30 years.
What return should I assume?
Many planners use conservative long-term figures, often between 4% and 7% before inflation. Lower assumptions give a safer plan.
Does this include pensions or government benefits?
No. Subtract expected pension or benefit income from your desired monthly income to see what your own savings must cover.