Utilz
Retirement Calculator
Plan your retirement savings and see projected growth
Want to learn more? Read our guide: Retirement Planning & Interest Growth
Why Use This Tool?
- Visualize your retirement savings growth over time
- Understand the impact of inflation on your future purchasing power
- Adjust contributions and see updated projections instantly
Calculation Formula
FV = PV × (1+r)^n + PMT × [(1+r)^n - 1] / r, where FV = future value, PV = present value, PMT = monthly contribution, r = monthly return rate, n = months.
How to Use
- Enter your current age and target retirement age
- Enter your current savings balance
- Enter your monthly contribution amount
- Set the expected annual return rate and inflation rate
- View projected savings and estimated monthly withdrawals
FAQ
How is retirement savings projected?
The calculator compounds your current savings and monthly contributions at the expected return rate until your retirement age, then estimates monthly withdrawals over a 25-year retirement period.
What return rate should I use?
A commonly used estimate is 7% for stock-heavy portfolios or 5% for balanced portfolios. Conservative estimates use 4-5%. The actual rate depends on your investment strategy and market conditions.
Why does inflation matter for retirement planning?
Inflation reduces the purchasing power of your savings over time. A 3% inflation rate means $100 today will only buy about $48 worth of goods in 25 years. The calculator adjusts for this.
How much should I save for retirement?
A common guideline is to save 10-15% of your gross income. The exact amount depends on your retirement age, expected lifestyle, and other income sources like Social Security or pensions.
How much should I save for retirement?
A common guideline is to save 10-15% of your pre-tax income for retirement. The 4% rule suggests you need 25 times your annual expenses saved to retire comfortably.