PLANNING · ON YOUR DEVICE
Retirement calculator
Enter your ages, savings, contributions and the monthly income you want. Inflation is built in.
EXAMPLE ESTIMATE
Your estimate
Enter your values and select Calculate.
Estimates use your assumptions. Calculations use unrounded values; displayed figures are rounded.
HOW IT WORKS
A useful estimate starts with clear inputs.
- Step 1
Enter your age, the age you want to retire and how long the money should last.
- Step 2
Add your savings, monthly contribution, expected returns and inflation.
- Step 3
Enter the monthly income you want and any pension or benefit income. Calculate to see if you are on track.
At 0% returns and 0% inflation, saving 1,000 a month for 25 years gives 300,000 before any starting savings.
Calculation assumptions and limits
Constant returns and inflation, monthly compounding, contributions that stay level and withdrawals that rise with inflation every year. The income you want is the amount needed from savings after the other income you enter. Taxes, investment fees, changes in spending and sequence-of-returns risk are excluded. Real returns vary, so treat the result as a range to test, not a forecast.
Can I use this with my local currency?
Yes. All inputs in one calculation must use the same currency. The currency selector changes number formatting and labels; it does not look up exchange rates or convert your amounts. Local loan rules and products may calculate costs differently.
Are my numbers saved?
No. Your inputs and results stay in this page’s memory. Reloading or leaving clears them. Download the CSV or print the result if you want a copy.
Learn more: SSA: Retirement Estimator. WORDMIO calculates locally using the assumptions above.
Test whether your savings can fund the retirement you want
Enter your age, the age you want to retire and how long you want the money to last. Add your current savings, what you save each month, expected returns before and after retirement, and inflation. Then enter the monthly income you would like in today’s money, and any pension or benefits you expect.
The calculator projects your balance at retirement, estimates the amount you need to fund the income you want, and shows any shortfall or surplus. If there is a gap it estimates the extra monthly saving that would close it. A chart shows your balance by age, including the drawdown years.
Free to use. No sign-up required.
How to use this tool
- Enter your age, retirement age and the age you want the money to last until.
- Add your savings, monthly contribution, returns and inflation.
- Enter the monthly income you want and any pension, then calculate.
A practical example
At 0% returns and 0% inflation, saving 1,000 a month for 25 years gives 300,000 before any starting savings.
Before you finish
Returns are not guaranteed. Try a lower return and a later retirement age to see how sensitive the result is.
The two phases the calculator models
In the saving phase, your balance grows with your return and your monthly contributions until the age you retire. In the spending phase, you withdraw an income every month that rises with inflation each year, while the remaining balance keeps earning the retirement return. The chart joins both phases so you can see the peak and what happens afterwards.
How the amount needed is calculated
The calculator adds up every planned withdrawal from retirement to your plan-to age, each discounted back to the day you retire at the return you expect in retirement. That total is the amount you need on day one to fund the income you asked for. Comparing it with your projected savings gives the gap or surplus.
Ways to close a gap
You can close a gap by saving more each month, retiring later, accepting a lower income or earning a higher return. The calculator shows the extra monthly saving needed. Try retiring a few years later: it adds contribution years and removes withdrawal years, so it often has the largest effect.
What the result does not include
Taxes on withdrawals, investment fees, healthcare costs that rise faster than inflation, one-off expenses and the order in which returns arrive are not modelled. Bad returns early in retirement hurt more than the same returns later. Use a cautious return and a plan-to age beyond what you expect, and revisit the plan every year.
Frequently asked questions
What does in today’s money mean?
It means the income you want is measured at today’s prices. The calculator raises it with inflation so the amount you withdraw keeps its buying power in later years.
Why is the return after retirement lower?
Many people move toward safer investments as they retire, which usually lowers expected returns. You can enter any value, including the same rate as before retirement.
Can I include a pension or state benefit?
Yes. Enter it as other monthly income in today’s money. Only the part of your wanted income that is not covered by it is taken from your savings.
What happens if my money runs out?
The result shows the age at which the balance reaches zero and the extra monthly saving that would have closed the gap. You can also test a later retirement age.
Is this a forecast?
No. Returns and inflation vary every year. Treat the result as a way to test assumptions, and try a cautious and an optimistic case.
How much should I save each month?
There is no single answer. Enter your own targets and use the extra monthly saving shown in a shortfall as a guide. The compound interest and savings goal calculators can help you test contributions.