Retirement savings projection
Retirement savings projection: use current savings, monthly contribution, nominal annual return. Review the formula, worked example and calculation steps.
Inputs
Use the units shown—
Enter your values and select Calculate.
Formula & explanation
FV = P(1+r)ⁿ + d[(1+r)ⁿ−1]/r; n = 12(retirement age−age)
Variables & units
- Current savings
- currency · minimum 0, maximum 1000000000000
- Monthly contribution
- currency · minimum 0, maximum 1000000000000
- Nominal annual return
- % · minimum 0, maximum 100
- Current age
- years · minimum 18, maximum 99
- Retirement age
- years · minimum 19, maximum 100
Worked example
50,000 plus 500 monthly for 30 years at 0% accumulates 230,000.
Assumptions
A savings projection, not a pension entitlement, 401(k), IRA or Social Security benefit estimator. No contribution limits, employer matching, tax or inflation.
Formula version 1.0.0. JavaScript floating-point arithmetic applies. Results display up to 6 decimal places; stored values retain available precision. Use the units shown.
Practice with an example
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