Free calculator
Retirement savings calculator
Model savings to retirement with a constant monthly contribution, a nominal expected return, and the compounding you choose. Project a nest egg at a target retirement age, or set a goal balance and read off the monthly that reaches it. Optional inflation shows one common “today’s dollars” deflation of the result—an illustration, not a market forecast. Copy FV/PMT into Google Sheets or Excel when you promote the same logic into a file.
When to use this calculator
A transparent toy cash-flow model (save monthly at a constant rate) before you build scenarios in a spreadsheet or template.
- Ballpark how a balance and monthly saving might compound to a retirement date (useful for founder or household planning conversations).
- Ask “what if I need $X in the account on my retirement date?” and read the constant monthly that matches that goal under the same assumptions (not the same as any government benefit statement).
- Sanity-check a row you will copy into a larger model, after you set inflation and return in one place the team can explain.
- Teach end-of-month
FV/PMTsign conventions with numbers on the page next to a short methodology.
We turn your current and retirement ages into a horizon in months (round half-years like a spreadsheet might). The engine is the same as our compound interest tool: a lump sum and end-of-month monthly contributions, with a nominal annual return and a compounding frequency that sets the month growth factor.
Ages to months
We use retirement age − current age as a decimal years value, then a month count that matches the compound-interest page’s rounding to whole months. If retirement is not after current age, we stop with an error.
Project mode (future balance)
We apply the same closed form you see on the compound calculator: starting balance and each monthly inflow, with a growth factor from your nominal rate and compounding pick.
Target mode (PMT to a goal)
We ask what monthly closes the gap between the lump sum future value and your target balance, keeping the same rate and horizon. When the starting balance already exceeds the goal in that model, the page shows a $0 required add-on; when the rate is 0%, the solution is a straight line—save (goal − start) / months.
Optional inflation deflates only the displayed “today’s dollars” number by (1 + expected inflation)^years—a common textbook shortcut; it is not the same as modeling variable inflation year by year in a real plan.
Public pension systems, 401(k)/IRA rules, and PER/Ü tax helpers live outside this page—see the FAQ. For abstract n‑period annuity factors (same PMT / PV / FV family, age‑agnostic), see the annuity calculator.
Google Sheets & Excel (FV, PMT)
This page uses end-of-month saving. In Sheets/Excel, outflows are negative inside FV / PMT when you use the same convention as the compound calculator. Replace the names with your cell layout.
=FV(annualRate/12, months, -monthly, -savings, 0)Use years×12 for months when the horizon comes from your ages. Savings = starting balance, negated; monthly = your contribution, negated. Last 0 = end of period, matching this page.
=PMT(annualRate/12, months, -savings, -goal, 0)Solves the level monthly to reach goal after months with rate annualRate/12 and a starting balance savings (as present value, negated in the function).
Frequently asked questions
Is this a Social Security, Medicare, 401(k), or government-pension number?
No. In the U.S. this is not a SSA benefit, RMD, or plan-administrator figure. In the European sense it is not a Deutsche Rentenversicherung-style benefit or a French pension retraite from your career record. It is a private savings model with the numbers you type in.
What is “in today’s dollars” here?
When you set an inflation percent, we divide the nominal balance at retirement by (1+inflation)^years—one simple deflation to interpret saving power in a familiar way. Your true life costs and returns will not follow a straight line; use a full model when stakes are high.
How do I do this in Google Sheets or Excel?
=FV(annualRate/12, nMonths, -monthly, -start, 0) for the same end timing; =PMT(annualRate/12, nMonths, -start, -goal, 0) to back-solve a level monthly. Keep annualRate as a decimal (0.05 for 5%) or divide your percent by 100 inside the function.
Why might this differ from NerdWallet, my bank, or a robo app?
Those products may add time-varying returns, fees, auto-escalation, employer match, SS cash flows, or their own default assumptions. This page shows one transparent story with the fields you set—compare outputs with care.
Can I treat a 401(k) balance as “current savings”?
You *can* type a round 401(k) or IRA balance as a starting number for a toy illustration, but the real plan has limits, match, Roth vs pre-tax, vesting, and RMDs that this page does not model. Use a dedicated plan tool or advisor for policy-grade answers.
Do you support couples or “two people retiring”?
Not in v1. Run your own numbers; combine results only in the sense of two separate one-person models unless you build a joint sheet in a template.
Is this investment or tax advice?
No. The numbers are a simplified illustration for learning and top-of-funnel spreadsheet checks—not a fiduciary recommendation, tax position, or product pitch.