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Retirement calculator: are you saving enough?

Enter your age, what you've saved and what you add each month. See your money grow with compound interest in a steady case and an optimistic case based on S&P 500 history, measured against the nest egg your retirement needs.

Retirement savings calculator

Today.

The age you plan to stop working.

401(k), IRA and other retirement savings.

Include any employer match.

In today's dollars, after Social Security or a pension.

On track only if markets match S&P 500 history

With S&P 500-like returns you reach $1,205,257 at 65, past your $1,000,000 goal. At a steady 4% you'd have $676,123, 67% of it. Saving $1,223 a month gets you there without counting on strong markets.

Steady at 65
$676,123
Pays about $27,045 a year
Optimistic (S&P 500) at 65
$1,205,257
Pays about $48,210 a year
Your goal
$1,000,000
25 × $40,000 a year
Monthly saving needed
$1,223
Steady case · you save $750 now
Projected savings by age · today's dollarsSteadyOptimistic (S&P 500)Goal
Year-by-year table
AgeSteadyOptimistic (S&P 500)
35$50,000$50,000
36$61,164$62,677
37$72,774$76,216
38$84,849$90,676
39$97,407$106,119
40$110,467$122,613
41$124,049$140,228
42$138,175$159,040
43$152,866$179,132
44$168,145$200,590
45$184,034$223,508
46$200,559$247,983
47$217,746$274,123
48$235,619$302,041
49$254,208$331,857
50$273,540$363,700
51$293,645$397,709
52$314,555$434,030
53$336,301$472,822
54$358,917$514,251
55$382,437$558,497
56$406,899$605,752
57$432,339$656,220
58$458,796$710,120
59$486,312$767,686
60$514,928$829,165
61$544,689$894,826
62$575,640$964,951
63$607,830$1,039,845
64$641,307$1,119,831
65$676,123$1,205,257

All figures are in today's dollars and assume your monthly saving rises with inflation. Taxes and fees are not included. An educational estimate, not financial advice.

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Am I saving enough for retirement?

Compare where your savings are heading with what your retirement needs. A common target is 25 times the yearly income you want from savings, so $40,000 a year needs about $1,000,000. This calculator grows what you have saved and what you add each month to your retirement age, in today's dollars, and checks it against that goal in a steady case and an optimistic S&P 500 case.

The verdict comes in three shades. On track means even modest growth gets you there. On track only if markets match S&P 500 history means you are relying on strong returns, and the calculator tells you the monthly saving that removes that reliance. Behind means neither case reaches your goal, with the extra saving each case would need.

How much should you have saved by age?

Fidelity's retirement savings guideline sets milestones as a multiple of your salary. They assume you save 15% of your pay from 25 and retire at 67, so treat them as a checkpoint rather than a pass or fail.

Retirement savings milestones by age, as a multiple of salary
By ageSavedOn a $60,000 salary
301× salary$60,000
403× salary$180,000
506× salary$360,000
608× salary$480,000
6710× salary$600,000

What compound interest does with $500 a month

The same $500 a month, starting from nothing, ends in very different places depending on when it starts. Figures are at 65, in today's dollars.

Savings at 65 from $500 a month, by starting age and scenario
Start atYou put inSteady (4%)Optimistic (6.8%)
25$240,000$580,532$1,172,810
35$180,000$342,635$563,612
45$120,000$181,921$248,079
55$60,000$73,348$84,649

Starting at 25 instead of 45 puts in twice as much money but, in the optimistic case, ends with more than 4 times as much. That gap is compounding: returns earn their own returns for longer.

How much do you need to retire?

Start from the yearly income you want your savings to provide, after Social Security and any pension, and multiply it by 25. That follows the 4% rule: a first-year withdrawal of 4% of savings, raised with inflation each year, lasted at least 30 years in US market history.

Retirement savings goal by yearly income wanted
Yearly income from savingsSavings goal (25×)
$30,000$750,000
$40,000$1,000,000
$60,000$1,500,000
$80,000$2,000,000
$100,000$2,500,000

The optimistic scenario: S&P 500 returns

From 1957 to 2026 the S&P 500 returned about 10.7% a year with dividends reinvested, or about 6.8% a year after inflation, according to Robert Shiller's market data. The optimistic case assumes your savings earn that 6.8% every year until you retire, as they would in a low-cost S&P 500 index fund that matched its history.

It is optimistic for good reasons. The average hides rough stretches: the index fell 18.1% in 2022, and someone who invested at the start of 2000 had less at the end of 2009, even with dividends. Fund fees, taxes and selling in a downturn all pull a real investor below the index. A portfolio that mixes in bonds is steadier but usually grows more slowly, which is what the steady 4% case reflects.

How the calculator works

  • Your savings compound monthly at the scenario's yearly rate after inflation: 4% steady, 6.8% optimistic.
  • Each month's saving is added at the end of the month and rises with inflation, so it stays the same in today's dollars.
  • Your goal is 25 times the yearly income you want from savings. The “pays about” figure is 4% of the projected balance.
  • The monthly saving to reach your goal is the amount that makes the projection land exactly on it at your retirement age.

Retirement savings questions

How do I know if I'm saving enough for retirement?

Compare where your savings are heading with what your retirement needs. A common target is 25 times the yearly income you want from savings, so $40,000 a year needs about $1,000,000. This calculator grows what you have saved and what you add each month to your retirement age, in today's dollars, and checks it against that goal in a steady case and an optimistic S&P 500 case.

How much should I have saved for retirement by my age?

A widely used benchmark from Fidelity is savings equal to your salary by 30, three times your salary by 40, six times by 50, eight times by 60 and ten times by 67. It assumes you save 15% of your pay and retire at 67. Your own target depends on the income you'll want, so this calculator measures against that instead.

What is the average return of the S&P 500?

From 1957 to 2026, the S&P 500 returned about 10.7% a year with dividends reinvested, or about 6.8% a year after inflation. Single years and even decades vary widely: it fell 18.1% in 2022, and an investor who bought at the start of 2000 had less money at the end of 2009, even with dividends.

How does compound interest help retirement savings?

Growth earns growth. At 6.8% a year after inflation, money doubles about every 11 years, so $10,000 invested at 25 grows to about $138,947 in today's dollars by 65. The same $10,000 invested at 45 grows to about $37,276. Starting early matters more than any other input.

What is the 4% rule?

A retirement rule of thumb from financial planner William Bengen's 1994 research: withdraw 4% of your savings in your first year of retirement, then raise that amount with inflation each year. In US market history it lasted at least 30 years for a portfolio of stocks and bonds. It means you need about 25 times the yearly income you want your savings to provide.

Why does the calculator show today's dollars?

Prices rise over time, so a million dollars in 30 years buys much less than a million dollars now. The calculator uses returns after inflation and assumes your monthly saving rises with prices, so every figure shows what your savings would buy today and can be compared directly with your goal.

Is this retirement calculator financial advice?

No. It is an educational estimate. It leaves out taxes, investment fees, changes in your income and the timing of Social Security, and markets can return less than either scenario. For a plan built around your situation, talk with a fee-only fiduciary financial planner.