Retirement Income Calculator
Estimate your monthly retirement income based on current savings, annual contributions, expected return rate, and retirement age.
Published by:
isCalculator Editorial Team
Was this calculator helpful?
How to use this tool?
How to Use the Retirement Income Calculator
- Enter your financial details in the left column:
- Current Savings – total amount you have saved so far (in dollars).
- Annual Contribution – how much you add each year (in dollars).
- Expected Annual Return – average yearly return on investments (as a percentage, e.g., 7 for 7%).
- Enter your time horizon in the right column:
- Current Age – your age now (must be 18–100).
- Retirement Age – when you plan to retire (must be greater than current age).
- Retirement Duration – how many years you expect to need income after retiring (1–100).
- Click "Calculate" – the button will validate all inputs. If any field is invalid, it will highlight in red.
- Read the result – below the button, you’ll see:
- Estimated Monthly Income – the amount you could withdraw each month during retirement.
- How it works – a brief explanation of the math (compound growth then annuity payout).
Note: All monetary values are in dollars. The calculator assumes constant annual contributions and a fixed return rate. Adjust inputs to test different scenarios.
Previous Results
| Result | Inputs | Date |
|---|
Frequently Asked Questions
The calculator first computes the future value of your current savings and annual contributions at retirement using compound interest. Then it uses the annuity formula to convert that lump sum into a monthly income stream over your specified retirement duration.
It assumes a constant annual return rate, constant annual contributions, and that you withdraw the entire balance over the retirement duration. Inflation and taxes are not considered.
Ensure all inputs are positive numbers and that retirement age is greater than current age. Also check that the return rate is between 0 and 100.
