Retirement Catch-Up Contribution Calculator

Find the monthly contribution required to grow your current savings to a retirement target by a certain number of years, at an assumed rate of return. Educational estimate, not financial advice.

Current Savings ($)

Retirement Target ($)

Years Remaining

Expected Annual Return (%)

Working backwards to a monthly figure

The tool grows what you already hold, subtracts that from the target, and asks what monthly deposit fills the gap over the months you have left:

r = annual return / 100 / 12        n = years × 12
grown savings = current × (1 + r)^n
annuity factor = ((1 + r)^n - 1) / r
required monthly = (target - grown savings) / annuity factor

Run the defaults: $50,000 now, $1,000,000 wanted, 25 years, 7%. Then (1 + r)^n is 5.7254, so your existing savings become $286,271 on their own and the annuity factor is 810.07. The shortfall of $713,729 divided by 810.07 gives $881.07 a month. Start from nothing instead and it takes $1,234.46.

Reading the result

Time is worth more than effort. Cut the runway from 25 years to 15 and the same target needs $2,705.54 a month - three times as much for ten fewer years.
The return assumption is doing heavy lifting. Drop 7% to 5% and the requirement rises to $1,386.94, because both your existing balance and every future deposit grow more slowly.
Everything here is nominal. A $1,000,000 target 25 years out buys noticeably less than $1,000,000 does now; use a real return, nearer 4%, if you want the answer in today's money.
"Already on track" appears when your existing savings alone are projected past the target.

Despite the name, this does not model the extra allowance savers aged 50 and over may be able to add to a retirement account. Those limits change yearly and depend on the account and country; the tool applies no cap.

Frequently asked questions

How much a month do I need to save to reach $1 million in 25 years?

$881.07 if you already hold $50,000 and earn 7% a year. Starting from zero the same target needs $1,234.46 a month.

Is it too late to start saving at 50?

Fifteen years still compounds. The tool shows what the shorter runway costs: reaching $1,000,000 from $50,000 in 15 years asks $2,705.54 a month rather than $881.07 over 25.

Does the calculator include employer matching?

No. Enter the total that actually lands in the account each month - your own deposits plus any match.