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<meta charset="utf-8">
<meta http-equiv="X-UA-Compatible" content="IE=edge">
<meta name="viewport" content="width=device-width,initial-scale=1">
<title>Retirement Savings Calculator</title>
<meta name="description" content="Calculate the future value of a Traditional IRA or 401k after taxes at retirement.">
<meta name="keywords" content="retirement, savings, calculator, IRA, 401k, future value, tax, growth">
<script src="https://ajax.googleapis.com/ajax/libs/jquery/3.6.0/jquery.min.js"></script>
<link href="https://cdn.jsdelivr.net/npm/bootstrap@5.0.2/dist/css/bootstrap.min.css" rel="stylesheet"
integrity="sha384-EVSTQN3/azprG1Anm3QDgpJLIm9Nao0Yz1ztcQTwFspd3yD65VohhpuuCOmLASjC" crossorigin="anonymous">
<link href="https://stackpath.bootstrapcdn.com/font-awesome/4.7.0/css/font-awesome.min.css" rel="stylesheet">
<script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
<script src="https://fonts.googleapis.com/css?family=Roboto:300,400,500,700&display=swap" rel="stylesheet">
<script type="text/javascript">
try {
console.log('Calculator is working.');
function calculateRetirement() {
// Inputs
const currentAge = parseInt($('#currentAge').val());
const retirementAge = parseInt($('#retirementAge').val());
const growthRate = parseFloat($('#growthRate').val()) / 100;
const inflationRate = parseFloat($('#inflationRate').val()) / 100;
const annualContributions = parseFloat($('#annualContributions').val());
const estimatedTaxRate = parseFloat($('#estimatedTaxRate').val()) / 100;
const contributionIncreaseRate = parseFloat($('#contributionIncreaseRate').val()) / 100;
const initialBalance = parseFloat($('#initialBalance').val());
let yearsToGrow = retirementAge - currentAge;
let balance = initialBalance;
let totalContributions = 0;
let totalGrowth = 0;
let yearlyContribution = annualContributions;
let chartData = {
labels: [],
data: []
};
for (let i = 0; i <= yearsToGrow; i++) {
balance += yearlyContribution;
let growth = balance * growthRate;
balance += growth;
totalGrowth += growth;
totalContributions += yearlyContribution;
yearlyContribution *= (1 + contributionIncreaseRate);
balance *= (1 - estimatedTaxRate);
balance /= (1 + inflationRate);
chartData.labels.push(currentAge + i);
chartData.data.push(balance);
}
let taxes = totalGrowth * estimatedTaxRate;
let afterTaxBalance = balance - taxes;
$('#totalContributions').text(`$${totalContributions.toFixed(2)}`);
$('#totalGrowth').text(`$${totalGrowth.toFixed(2)}`);
$('#accountBalance').text(`$${balance.toFixed(2)}`);
$('#taxesOnBalance').text(`$${taxes.toFixed(2)}`);
$('#afterTaxBalance').text(`$${afterTaxBalance.toFixed(2)}`);
drawChart(chartData);
}
function drawChart(data) {
const ctx = document.getElementById('growthChart').getContext('2d');
if (window.bar != undefined)
window.bar.destroy();
window.bar = new Chart(ctx, {
type: 'line',
data: {
labels: data.labels,
datasets: [{
label: 'Account Balance Over Time',
data: data.data,
backgroundColor: 'rgba(54, 162, 235, 0.2)',
borderColor: 'rgba(54, 162, 235, 1)',
borderWidth: 1
}]
},
options: {
scales: {
y: {
beginAtZero: true
}
}
}
});
}
$(document).ready(function() {
$('#calculate').click(calculateRetirement);
});
} catch (error) {
throw error;
}
</script>
<style>
body {
font-family: 'Roboto', sans-serif;
}
#main-container {
margin-top: 30px;
}
#growthChart {
max-height: 400px;
max-width: 100%;
margin-top: 20px;
}
.result-table {
margin-top: 20px;
background-color: #f7f7f7;
padding: 20px;
border-radius: 10px;
}
.result-table th, .result-table td {
padding: 5px 10px;
}
.input-group-text {
background: linear-gradient(60deg, #ab47bc, #8e24aa);
border: none;
color: white !important;
}
.btn-primary {
background-color: #8e24aa;
border-color: #8e24aa;
}
.btn-primary:hover {
background-color: #9c27b0;
border-color: #9c27b0;
}
</style>
<link rel="canonical" href="https://calculator.tools/app/retirement-savings-calculator-728/">
<meta charset="utf-8">
</head>
<body>
<div id="main-container" class="container">
<h2>Retirement Savings Calculator 📈</h2>
<div class="input-group mb-3">
<span class="input-group-text">Current Age</span>
<input type="number" id="currentAge" class="form-control" placeholder="Current Age">
</div>
<div class="input-group mb-3">
<span class="input-group-text">Retirement Age</span>
<input type="number" id="retirementAge" class="form-control" placeholder="Retirement Age">
</div>
<div class="input-group mb-3">
<span class="input-group-text">Growth Rate %</span>
<input type="number" id="growthRate" class="form-control" placeholder="Growth Rate %">
</div>
<div class="input-group mb-3">
<span class="input-group-text">Inflation Rate %</span>
<input type="number" id="inflationRate" class="form-control" placeholder="Inflation Rate %">
</div>
<div class="input-group mb-3">
<span class="input-group-text">Annual Contributions $</span>
<input type="number" id="annualContributions" class="form-control" placeholder="Annual Contributions $">
</div>
<div class="input-group mb-3">
<span class="input-group-text">Estimated Tax Rate %</span>
<input type="number" id="estimatedTaxRate" class="form-control" placeholder="Estimated Tax Rate %">
</div>
<div class="input-group mb-3">
<span class="input-group-text">Contribution Increase Rate %</span>
<input type="number" id="contributionIncreaseRate" class="form-control" placeholder="Contribution Increase Rate %">
</div>
<div class="input-group mb-3">
<span class="input-group-text">Initial Balance $</span>
<input type="number" id="initialBalance" class="form-control" placeholder="Initial Balance $">
</div>
<button id="calculate" class="btn btn-primary mb-3">Calculate</button>
<table class="table result-table">
<thead>
<tr>
<th scope="col">Description</th>
<th scope="col">Amount</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Contributions $/year</td>
<td id="totalContributions">$0.00</td>
</tr>
<tr>
<td>Total Growth Amount $</td>
<td id="totalGrowth">$0.00</td>
</tr>
<tr>
<td>Account Balance at Retirement $</td>
<td id="accountBalance">$0.00</td>
</tr>
<tr>
<td>Taxes on Balance $</td>
<td id="taxesOnBalance">$0.00</td>
</tr>
<tr>
<td>After Tax Balance $</td>
<td id="afterTaxBalance">$0.00</td>
</tr>
</tbody>
</table>
<canvas id="growthChart"></canvas>
</div>
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