Check out our handy Millionaire Retirement Savings Calculator below which will show you exactly what you need to save to become a millionaire. There are also a few useful functions such as a savings schedule and charts that I hope will be of benefit to you.
This calculator easily answers the question "Given the value of my current investments how much do I need to save each month to reach my retirement goal?"
The user enters their "Current Age", there expected "Retirement Age", the "Annual Interest Rate (ROI)" (annualized Return on Investment one expects to earn) and "Amount Desired At Retirement".
The calculator quickly calculates the required monthly investment amount and creates an investment schedule plus a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
If you need a more advanced "Retirement Calculator" - one that calculates many more unknowns and one that calculates assuming retirement income and not a final lump sum then try the calculator located here: https:/financial-calculators.com/retirement-calculator
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.