Are You On Track for Retirement?

How to Use This Calculator

Step 1: Enter your current position

Your current age and retirement age define your time horizon — the most important variable in the calculation. Even small differences (retiring at 62 vs 67) dramatically change your projected balance. Your current savings is the total of all retirement accounts: 401k, IRA, Roth IRA, pension, and any other accounts you are saving for retirement.

Step 2: Enter your monthly contribution

This is how much you are adding to retirement savings each month across all accounts. Include your own contributions and any employer match you receive. If contributions vary, use a conservative monthly average.

Step 3: Set your retirement goal

A common rule of thumb is 25 times your expected annual retirement spending (the 4% rule). If you expect to spend $50,000 per year in retirement, your goal is $1,250,000. Adjust for expected pension or social security income: if these cover $20,000 of your $50,000 annual need, your portfolio only needs to fund the remaining $30,000 — requiring $750,000.

Step 4: Choose your expected return

7% is a commonly used long-run estimate for a balanced portfolio after fees, consistent with historical equity market returns. Use 5–6% for a conservative or bond-heavy portfolio, and 8–9% for an aggressive equity-heavy allocation.

Understanding the gap

If your projected balance exceeds your goal, you are on track. If it falls short, the calculator shows you exactly how much extra you need to save monthly to close the gap — assuming the same return rate and time horizon. Small monthly increases compounded over decades have a much larger impact than most investors expect.