ConvertOnlineRetirement Calculator for Savings and Spending
Report source: https://convertonline.org/calculators/retirement-calculator
Compare the savings you may have at retirement with the amount needed to fund an estimated spending gap through your life expectancy.
Private calculation. Your entries and results stay in this browser and are not uploaded to ConvertOnline.
Retirement Calculator
Projected retirement balance
Annual schedule
| Year | Age or phase | Salary | Starting balance | User contribution | Employer contribution | Withdrawals | Growth | Ending balance |
|---|
Retirement Calculator formula
Savings grow with end-of-month contributions until retirement. After retirement, the portfolio funds the positive difference between desired spending and other income, with both amounts increasing for inflation.
The calculator solves for the balance required at retirement and the monthly spending the projected balance could support through the entered life expectancy.
Assumptions and limitations
- Annual returns are nominal rates compounded monthly and remain constant within each phase.
- Monthly contributions are made at month end until retirement.
- Spending and other retirement income rise at the entered inflation rate.
- Taxes, fees, Social Security calculations, pensions, required minimum distributions, and sequence-of-returns risk are excluded.
Worked example
Example: comparing projected and required savings
A 35-year-old plans to retire at 67 with $75,000 saved, $750 monthly contributions, 7% growth before retirement, and 5% during retirement.
The calculator compares that projection with the balance needed for $5,000 monthly spending and $2,000 of other monthly income in today’s dollars through age 90.
Frequently asked questions
Are the results shown in today’s dollars?
The page shows both future-dollar savings at retirement and an inflation-adjusted value in today’s dollars, with each result labeled.
Does this calculator estimate Social Security?
No. Enter your own estimated Social Security, pension, annuity, or other recurring income in the other monthly income field.
What does a retirement shortfall mean?
It is the estimated difference between projected savings at retirement and the balance required for the entered spending and income assumptions.
This calculator provides an estimate for planning and education. Actual returns, rates, plan terms, taxes, fees, and future rules may differ.