Retirement Calculator
Plan your retirement savings and see if you're on track
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Fill in your details to see projections
What is the Retirement Calculator?
Planning for retirement feels abstract until you actually run the numbers. This calculator tells you whether you're on track — or how far off you might be — based on what you've saved so far, how much you're putting away each month, and when you want to stop working. It's useful for anyone from a 25-year-old opening their first 401(k) to a 55-year-old wondering if they can retire in 10 years. CalciHub's version lets you factor in your current savings, monthly contributions, expected annual return, and target retirement age, then shows you a projected nest egg alongside an estimated monthly income in retirement.
How Does It Work?
The math here is compound interest applied over time. Your current balance grows each year at your expected rate of return, and your regular contributions keep adding fuel. The formula is:
FV = PV × (1 + r)ⁿ + PMT × [((1 + r)ⁿ − 1) / r]
FV = Future value of your retirement savings
PV = Present value (what you have saved right now)
r = Annual rate of return divided by 12 (monthly rate)
n = Total number of months until retirement
PMT = Monthly contribution amount
How to Use CalciHub's Retirement Calculator
1. Enter your current age and the age you plan to retire.
2. Input your current retirement savings balance.
3. Add your monthly contribution amount.
4. Set an expected annual return (historically, a diversified stock portfolio has averaged around 7% after inflation).
5. Hit Calculate to see your projected balance and estimated monthly income.
Tip: Run the calculator twice — once with your current contribution and once with a slightly higher amount. The difference is often bigger than you'd expect.
A Quick Example
Sarah is 32, lives in Chicago, and has $18,000 saved in her 401(k). She contributes $400 a month and hopes to retire at 65. She uses CalciHub with a 7% annual return.
Current savings: $18,000
Monthly contribution: $400
Years to retirement: 33
Expected return: 7%
Projected balance at 65: approximately $742,000
Estimated monthly income (30-year retirement): around $3,900/month
Sarah's current savings rate gets her close to a comfortable retirement, but bumping her contribution to $500/month would push her projected balance above $900,000.
Frequently Asked Questions
The old rule of thumb was 25x your annual expenses, sometimes called the 4% rule. So if you spend $60,000 a year, you'd want around $1.5 million saved. That's a starting point, not a hard rule — your actual number depends on your lifestyle, health, Social Security income, and whether you have a pension or other sources of income.