Retirement Savings Calculator
Estimate a retirement balance from a starting amount, monthly contributions, expected return and years to go. A year-by-year table shows how growth…
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Estimate a retirement balance from a starting amount, monthly contributions, expected return and years to go. A year-by-year table shows how growth builds over time.
General information only, not financial advice. Results are estimates; fees, tax and future rate changes may affect outcomes.
Worked example
Example calculated from the starting values. Enter your own values and press Calculate to get your result.
With the default inputs (starting amount = $20,000, monthly contribution = $800, annual return = %7, years = 30), the results are: final balance $1,138,306.75; total contributed $308,000.00; growth earned $830,306.75.
Growth over time at 7% a year
Reference table based on the example values; it is not your calculation result.
| Year | Contributed | Growth | Balance |
|---|---|---|---|
| 1 | $29,600.00 | $1,759.87 | $31,359.87 |
| 2 | $39,200.00 | $4,340.95 | $43,540.95 |
| 3 | $48,800.00 | $7,802.59 | $56,602.59 |
| 4 | $58,400.00 | $12,208.47 | $70,608.47 |
| 5 | $68,000.00 | $17,626.83 | $85,626.83 |
| 6 | $77,600.00 | $24,130.86 | $101,730.86 |
| 7 | $87,200.00 | $31,799.07 | $118,999.07 |
| 8 | $96,800.00 | $40,715.59 | $137,515.59 |
| 9 | $106,400.00 | $50,970.67 | $157,370.67 |
| 10 | $116,000.00 | $62,661.07 | $178,661.07 |
| 11 | $125,600.00 | $75,890.57 | $201,490.57 |
| 12 | $135,200.00 | $90,770.40 | $225,970.40 |
| 13 | $144,800.00 | $107,419.89 | $252,219.89 |
| 14 | $154,400.00 | $125,966.95 | $280,366.95 |
| 15 | $164,000.00 | $146,548.77 | $310,548.77 |
| 16 | $173,600.00 | $169,312.44 | $342,912.44 |
| 17 | $183,200.00 | $194,415.67 | $377,615.67 |
| 18 | $192,800.00 | $222,027.61 | $414,827.61 |
| 19 | $202,400.00 | $252,329.60 | $454,729.60 |
| 20 | $212,000.00 | $285,516.10 | $497,516.10 |
| 21 | $221,600.00 | $321,795.65 | $543,395.65 |
| 22 | $231,200.00 | $361,391.84 | $592,591.84 |
| 23 | $240,800.00 | $404,544.42 | $645,344.42 |
| 24 | $250,400.00 | $451,510.48 | $701,910.48 |
| 25 | $260,000.00 | $502,565.72 | $762,565.72 |
| 26 | $269,600.00 | $558,005.72 | $827,605.72 |
| 27 | $279,200.00 | $618,147.48 | $897,347.48 |
| 28 | $288,800.00 | $683,330.87 | $972,130.87 |
| 29 | $298,400.00 | $753,920.35 | $1,052,320.35 |
| 30 | $308,000.00 | $830,306.75 | $1,138,306.75 |
Frequently asked questions
How is the final balance calculated?
Balance = P × (1 + r)^n + C × ((1 + r)^n − 1) ÷ r, where r is the monthly rate (annual rate ÷ 12), n the number of months, P the starting amount and C the monthly contribution paid at month end.
What does the default example show?
Starting with $20,000.00 and adding $800.00 a month at 7% for 30 years grows to about $1,138,306.75.
Are returns guaranteed?
No. Real returns vary year to year, and fees, inflation and tax are not included. Treat the result as an illustration only.
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