Retirement Cost Calculator

Planning for retirement is a crucial financial step that requires careful consideration. One of the key aspects of retirement planning is determining how much you need to save to maintain your desired lifestyle after you retire. To help you with this, we’ve developed a Retirement Cost Calculator.


The Retirement Cost Calculator uses a basic future value formula to estimate your retirement savings:

Future Value = Current Savings × (1 + Annual Return)^Years + (Annual Contribution × ((1 + Annual Return)^Years – 1) / Annual Return)


  • Current Savings: The amount of money you already have saved for retirement.
  • Annual Contribution: The amount you plan to contribute to your retirement savings each year.
  • Annual Return on Investment: The expected annual return on your investments, in percentage form.
  • Years: The number of years until your retirement.

How to Use

  1. Enter your Current Savings, Annual Contribution, Annual Return on Investment, and the number of Years you have until retirement in the respective fields.
  2. Click the “Calculate” button to obtain an estimate of your Retirement Cost.


Let’s say you currently have $50,000 in savings, plan to contribute $5,000 annually, expect an annual return of 6%, and have 20 years until retirement. Using the calculator, you would find your estimated Retirement Cost.


Q1: How accurate is the Retirement Cost Calculator? A1: The calculator provides a rough estimate based on the information you provide. For more precise results, consult with a financial advisor.

Q2: Should I include my pension or Social Security in the Current Savings field? A2: No, the calculator assumes that the Current Savings field only includes your existing retirement savings, not future income sources like pensions or Social Security.

Q3: Can I change the currency symbol for the result? A3: The calculator uses the “$” symbol by default, but you can modify the script to use a different currency symbol.

Q4: What if I don’t know my expected Annual Return on Investment? A4: It’s essential to make a reasonable estimate based on your investment portfolio. Consult with a financial advisor for guidance.

Q5: Can I use this calculator for short-term savings goals? A5: While it’s primarily designed for retirement planning, you can adapt it for other savings goals by adjusting the inputs.


The Retirement Cost Calculator is a valuable tool to kickstart your retirement planning journey. However, remember that it’s just an estimate. Consult with a financial advisor to develop a comprehensive retirement strategy tailored to your unique needs and goals. Start planning for your future today!

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