OmniCalcsRetirement Calculator
Estimate your nest egg at retirement and the monthly income it can provide.
How to Use This Retirement Calculator
Enter your age, target retirement age, current savings, monthly contributions and expected annual return. Add a life expectancy to see how much monthly income your nest egg can support, and compare it with a target income to find your shortfall or surplus.
- Savings period โ the years between your current age and retirement age.
- Withdrawal period โ the years between retirement and life expectancy.
- Monthly income โ the amount you can withdraw each month to exhaust the nest egg exactly at life expectancy.
- Shortfall โ a negative difference means you need to save more, retire later or expect a lower income.
Practical Example
Suppose you're 35, saving $500/month, with $20,000 saved, assuming 6% annual return, retiring at 65 and living to 85:
- Nest egg at 65 โ $560,000
- Sustainable monthly income โ $3,900
- If you need $5,000/month, the shortfall is $1,100/month
Increasing contributions to $800/month closes most of that gap.
What Your Results Mean
- Nest egg โ your projected savings at retirement, compounding over your working years.
- Monthly income โ the sustainable withdrawal that makes your savings last to life expectancy.
- Shortfall โ the gap between your target income and what your savings can support.
Frequently Asked Questions
What return should I assume for retirement savings?
Many planners use 5-7% before inflation for a balanced portfolio. Using a lower, more conservative return reduces the risk of overestimating your retirement income.
Does this include Social Security or pensions?
No. Enter only your personal savings and contributions. If you expect Social Security or a pension, add it to your target income or treat it as part of the monthly income you plan for.
What does the monthly income figure mean?
It is the maximum amount you can withdraw each month so that your nest egg, still earning interest, lasts exactly until your life expectancy. Withdrawing more risks running out of money.
Why is my shortfall important?
A shortfall means your planned savings will not support the income you want. You can close the gap by increasing monthly contributions, saving longer or adjusting your target.
What if I retire later than planned?
Retiring later shortens the savings-to-income gap twice: you contribute for more years and need to support fewer retirement years, so both the nest egg and the monthly income improve.
Learn More
Read our in-depth guide: Compound Interest, Explained Simply โ the engine behind your nest egg's growth.