Estimate your total savings at retirement based on your current savings, monthly contributions, expected annual return, and years until retirement using our simplified Retirement Savings Calculator. Input the required values to see the result – created by Mr. Dhananjoy Ghosh.
How is total savings calculated?
Total savings are calculated using the formula for future value of a series of cash flows, taking into account the current savings, monthly contributions, and expected return rate.
What is a good annual return rate to use?
A common estimate for long-term investments is around 5-7%, but this can vary based on market conditions.
Can I use this calculator for other savings goals?
Yes, this calculator can be used for any savings goal as long as you have the necessary inputs.
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