Will You Have Enough to Retire?
This retirement calculator projects how much your 401(k), 403(b) or IRA could grow by the time you retire. Enter your age, current savings, salary, contribution rate, employer match, expected raises and investment return. It shows your projected balance, that balance in today's dollars, how much came from you, your employer and investment growth, plus a year-by-year table.
How the Projection Works
Each year your balance grows by the expected return, then that year's contributions are added. Your salary rises by your annual raise, so contributions grow too. The employer match is calculated on the part of your contribution up to the match limit; for example, "50% up to 6%" means the employer adds 3% of your salary if you contribute at least 6%.
Example: a 30-year-old earning $70,000 with $25,000 saved, contributing 10% with a 50% match up to 6%, 3% raises and a 7% return, could have about $2.41 million at 67. That is about $965,000 in today's dollars with 2.5% inflation. Using the 4% rule, it could support about $96,000 a year of retirement income.
Tips to Boost Your Retirement Savings
- Contribute at least enough to get the full employer match, which is free money.
- Increase your contribution by 1% each year or whenever you get a raise.
- Keep investment fees low, since high fees compound against you for decades.
- People 50 and older can make extra catch-up contributions to 401(k)s and IRAs.
Frequently Asked Questions
What is the 4% rule?
The 4% rule suggests you can withdraw about 4% of your savings in the first year of retirement and adjust for inflation afterward, with a good chance your money lasts 30 years. It is a rule of thumb, not a guarantee.
What rate of return should I use?
Many planners use 5–7% per year for a diversified stock and bond portfolio over long periods. Use a lower rate for a more conservative estimate. Actual returns vary from year to year.
Why show the balance in today's dollars?
Inflation reduces what money can buy over time. The today's-dollars figure shows what your future balance would be worth at current prices, which makes it easier to judge whether it is enough.