Retirement Savings Calculator
Project savings from a balance and recurring monthly contributions. Your work stays on this device whenever possible.
How to use Retirement Savings Calculator
- Enter Current Age and Retirement Age; retirement must be later than today's age.
- Fill Current Retirement Savings ($) and Current Annual Salary ($).
- Set Employee Contribution (% of salary), then Employer 401(k) Match Rate (%) and Employer Match Cap (% of salary) exactly as your plan states.
- Adjust Annual Investment Return (%), Annual Inflation Rate (%), Annual Salary Growth (%) and Safe Withdrawal Rate (%).
- Press "Project Retirement Savings" and read the nest egg, contribution split, income estimate and five-year milestones.
Worked example
Age 40 to 45, savings 20,000, salary 60,000, contribute 10%, match 100% up to 4%, return 6%, inflation 2%, salary growth 3%, withdrawal 4%. Year one adds 6,000 plus 2,400 match, and (20,000 + 8,400) × 1.06 = 30,104. After five years the nest egg is 79,877.32, or 72,347.35 in today's money, giving 3,195.09 a year and 266.26 a month.
When to use this tool
- Seeing how much a higher employer match cap changes the final balance.
- Testing whether retiring at 62 rather than 67 leaves a workable income.
- Checking a projected nest egg in today's money rather than future dollars.
Important limitations
Projections assume constant annualized returns and steady inflation rates. Actual market volatility, tax treatment (Roth vs Traditional 401(k)), and healthcare expenses in retirement will vary over decades.
Frequently asked questions
How is the employer match calculated?
The smaller of your contribution rate and the match cap is multiplied by the match rate, then applied to salary. With 10% contributed, a 4% cap and a 100% match, the employer adds 4% of salary each year.
What does the safe withdrawal rate do?
It multiplies the final balance to estimate annual income, so a 4% rate on 500,000 gives 20,000 a year, following the safe withdrawal framework referenced by SEC Investor.gov (investor.gov/financial-tools-calculators/calculators/compound-interest-calculator) and SSA guidelines (ssa.gov/benefits/retirement/planner/). Projections are an estimate, not financial advice.
Does it apply annual contribution limits?
No. Your contribution and match are calculated from the percentages entered, without any statutory cap. Check your own plan's limits, because the result could overstate what you are allowed to save.
Why are there two nest egg figures?
The nominal figure is the future balance in future dollars. The real one divides by inflation over the years to show today's purchasing power, which is the better guide to living costs.
Are Social Security, pensions or taxes included?
No. The projection covers only your own contributions, the match and investment growth. Withdrawals are shown before tax, and other income sources need to be added separately.