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Retirement Savings Calculator
Find out how much to save each month to reach your retirement goal. Enter your target, what you have saved and your timeline, then press Calculate to see the plan and your progress.
Written by TopicDrill Editorial Team·Updated June 2026
Path to your goal
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How the retirement savings calculator works
Reaching a retirement goal comes down to three levers: how much you have already saved, how much you add each month, and how long that money compounds. This tool fixes your goal and timeline, then solves for the monthly saving that gets you there, while also projecting where your current habit would leave you.
The chart draws two lines. The shaded path climbs to your goal at the required saving rate, and the dashed line shows the trajectory of your current monthly amount. A thin green marker sits at the goal so you can see whether the two lines meet it or fall short.
A worked example
Say your goal is one million dollars in 30 years, you already hold $50,000, and you earn 7 percent a year. The starting balance alone grows to roughly $380,000, leaving about $620,000 to cover with contributions. Filling that gap takes a little over $500 a month. If you currently save $600 a month you finish with a surplus, while saving $300 leaves you well behind the goal line.
Things to keep in mind
The figure assumes steady contributions and a constant return, but real markets zig-zag, so treat it as a target to revisit rather than a fixed promise. Raising your saving early matters far more than chasing a higher return later. For tax-advantaged accounts worth using first, see Investor.gov. To pressure-test the goal itself, try our retirement corpus calculator.
Frequently asked questions
What does this calculator tell me?
It answers two questions at once. First, the monthly amount you need to save to reach your nest egg goal by your retirement date. Second, where your current monthly saving rate would actually land you, so you can see at a glance whether you are on track or behind.
How is the required monthly saving worked out?
The tool grows your existing savings forward to retirement at your expected return, subtracts that from your goal, then solves the future value of an annuity formula for the level monthly payment that fills the remaining gap. Every contribution is assumed to keep compounding until you retire.
Why is my projection different from the required amount?
The required figure is what it takes to hit the goal exactly. The projection uses the amount you say you save now. If your current saving is below the required level you will see a shortfall, and if it is above you will see a surplus on the results panel and the chart.
What return should I assume?
Use a long-run figure you are comfortable defending rather than a recent hot streak. A diversified stock and bond mix has historically returned somewhere in the mid single digits after inflation, but lower is safer for planning. Try a few values to see how sensitive the answer is.
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