Retirement Contribution Calculator
Find out how much to save each month to hit your retirement goal, with inflation adjustment.
Disclosure: Some links on this page are affiliate links. We may earn a commission at no extra cost to you. Full disclosure →
Inputs
How much should I save each month to retire with my target?
Total saved for retirement so far (401k, IRA, etc.)
How much you want saved by retirement
Stock/bond portfolio average: ~6-8% is typical
How fast prices rise — ~3% is the US long-term average
Required Monthly Savings
$236
/monthTo reach $1,000,000 by age 65 at 7% return
Inflation-Adjusted Target
$355,383
Total Contributions
$149,037
Total Interest Earned
$850,963
Start saving for retirement
Betterment
Best for automated savingAutomated investing with no minimum balance
We may earn a commission. Capital at risk — the value of investments can go down as well as up. Disclosure
Savings Projection
Projection Summary
| Age | Nominal |
|---|---|
| 35 | $87,763 |
| 40 | $141,297 |
| 45 | $217,188 |
| 50 | $324,773 |
| 55 | $477,287 |
| 60 | $693,497 |
| 65 | $1,000,000 |
Get financial tips
Strategies and insights to help you make better financial decisions — no spam.
No spam. Unsubscribe anytime. Privacy policy
Take the Next Step
Start your retirement savings with a free account
Automated investing with no minimum balance
Automated investing and tax-loss harvesting
We may earn a commission if you open an account through these links. Capital at risk — the value of investments can go down as well as up. We recommend partners based on relevance to the calculator you're using, not on commission rates. Full disclosure
How it works
What Is a Retirement Contribution Calculator?
This calculator answers the specific question: “How much do I need to save each month to reach my retirement goal?” You set your target balance, timeline, and expected returns, and it solves for the monthly savings required.
Most people know they should save for retirement. The harder question is how much. Too little and you fall short. Too much and you sacrifice quality of life now for no reason. This calculator finds the right number.
Key takeaway: The required monthly amount is almost always lower than people expect — if they start early enough. A 25-year-old needs roughly half the monthly savings of a 35-year-old to reach the same goal. That’s compound interest doing the heavy lifting.
How the Calculation Works
The calculator uses the inverse of the compound interest formula. Instead of computing the future balance from a known contribution, it works backward: given a target balance, it solves for the contribution that produces exactly that amount.
The formula accounts for:
- Growth of existing savings — your current balance compounds over the full period
- Growth of each contribution — earlier contributions compound longer
- Inflation adjustment — shows what your target is actually worth in today’s dollars
How Much Is Enough?
The most commonly cited benchmarks:
| Savings rate | Who it’s for |
|---|---|
| 10-15% of gross | Minimum recommended by most financial planners |
| 15-20% of gross | Comfortable retirement target |
| 25-50% of gross | FIRE (Financial Independence, Retire Early) |
These percentages include employer matching. If your employer matches 3%, you only need to contribute 12% yourself to hit the 15% total target.
The Cost of Waiting
Every year you delay starting costs you more than you’d expect:
| Starting age | Monthly savings needed for $1M at 65 (7% return) |
|---|---|
| 25 | $381 |
| 30 | $555 |
| 35 | $820 |
| 40 | $1,234 |
| 45 | $1,920 |
The difference between starting at 25 and 45 is 5x the monthly amount. That’s not linear — it’s the exponential cost of lost compounding time.
What to Do Next
Run your numbers with your actual current savings and a realistic return rate (7% is a good default). If the required monthly amount feels too high, try adjusting your target downward or extending your retirement age by a few years. Even small changes to the timeline can dramatically reduce the monthly requirement.
Real-World Examples
30-year-old targeting $1 million
Starting from scratch at 30, you'd need to save about $555/month to reach $1 million by 65 at 7% returns. That's $6,660/year — roughly 13% of a $50,000 salary. Total contributions: $233,100. The other $766,900 comes from compound growth.
40-year-old with $100K saved targeting $1.5 million
With $100,000 already saved and 25 years to go, you'd need about $1,145/month. Your existing savings grow to about $543,000 on their own — your contributions cover the remaining $957,000 needed. Total out-of-pocket: $443,500.
25-year-old targeting $2 million for early retirement at 55
Aggressive goal: $2 million by 55 starting with $10,000 at 8% returns. You'd need about $1,340/month. That's a high savings rate, but compound growth does most of the work — your $492,400 in contributions grows to $2 million.
Frequently Asked Questions
How much should I save for retirement each month?
What is a good retirement savings target?
How does inflation affect how much I need to save?
Should I increase my contributions over time?
What return rate should I use?
Does this include employer matching?
Sources & Methodology
How this is calculated
Pre-Calculated
Popular Scenarios
See results for common scenarios, then customize with your own numbers.
Related Calculators
Retirement Savings Calculator
Plan your retirement savings with inflation-adjusted projections.
Retirement Age Calculator
Find out when you can afford to retire based on your savings.
Compound Interest Calculator
See how your money grows over time with compound interest.
Investment Return Calculator
Calculate your portfolio growth with dividend reinvestment.
Savings Goal Calculator
Find out how much to save each month to reach your goal.
Net Worth Calculator
Track your total assets minus liabilities in one place.