Retirement Financial Calculator

Plan your future with confidence.

Retirement Savings Projection

Estimate how much you need to save for a comfortable retirement. This tool helps project your future savings based on your current inputs.

Retirement Savings Growth Projection

Retirement Savings Breakdown (Annual)

Year	Starting Balance	Contributions	Growth	Ending Balance

Detailed annual breakdown of your projected retirement savings.

What is a Retirement Financial Calculator?

A {primary_keyword} is a specialized financial tool designed to help individuals estimate the total amount of money they will need to accumulate to support their desired lifestyle throughout their retirement years. It takes into account various factors such as current age, desired retirement age, current savings, planned future contributions, expected investment growth rates, inflation, and anticipated spending in retirement. Essentially, it quantifies your retirement savings goal, providing a tangible target to work towards. This tool is crucial for effective long-term financial planning, enabling individuals to make informed decisions about saving and investing.

Who should use it? Anyone planning for retirement should consider using a {primary_keyword}. This includes young professionals starting to save, individuals in their mid-career looking to assess their progress, and those nearing retirement who need to confirm they are on track. It's beneficial for anyone who wants to understand how much they need to save to maintain their living standards after they stop working.

Common misconceptions: A frequent misunderstanding is that retirement planning is only for older people or those with high incomes. In reality, starting early, even with small amounts, is far more impactful due to the power of compounding. Another misconception is that retirement calculators provide exact figures. These tools offer estimations based on assumptions; actual outcomes can vary due to market volatility, changes in personal circumstances, and unforeseen expenses. It's a guide, not a crystal ball.

{primary_keyword} Formula and Mathematical Explanation

The core of a {primary_keyword} involves projecting future savings and determining the total capital required to sustain retirement income. This calculation typically involves several steps:

1. Calculate Years to Retirement: This is the duration between your current age and your desired retirement age.
2. Project Future Savings: This involves calculating the future value of your current savings and all future contributions, considering the expected investment growth rate over the years until retirement. The formula for Future Value of a series (annuity) is often used here.
3. Determine Required Retirement Nest Egg: This estimates the total lump sum needed at retirement. It involves calculating the present value of an annuity, where the annuity payments are your desired annual retirement income, adjusted for inflation, and the period is the estimated length of your retirement.
4. Compare Projected Savings with Required Nest Egg: The final step is to see if your projected savings at retirement meet or exceed the required nest egg.

Detailed Formula Derivation:

Let:

• CA = Current Age
• RA = Desired Retirement Age
• CS = Current Savings
• AC = Annual Contribution
• IGR = Expected Annual Investment Growth Rate (as a decimal)
• AW = Desired Annual Retirement Income (as % of final salary/savings)
• IR = Expected Annual Inflation Rate (as a decimal)
• RE = Estimated Retirement Duration (years)
• FS = Estimated Final Salary/Savings (approximated using growth rate on current savings if no salary is input)

Key Calculations:

1. Years Until Retirement (YTR):

YTR = RA - CA

2. Projected Total Savings at Retirement (TS):

This uses the future value of current savings plus the future value of an ordinary annuity for future contributions.

Future Value of Current Savings = CS * (1 + IGR)^YTR

Future Value of Annuity = AC * [((1 + IGR)^YTR - 1) / IGR]

TS = CS * (1 + IGR)^YTR + AC * [((1 + IGR)^YTR - 1) / IGR]

*(Note: If IGR is 0, the formula simplifies, and the future value of annuity is just AC * YTR)*

3. Estimated Annual Retirement Income Needed (AIR):

First, estimate final salary/savings or a baseline value. For simplicity in this calculator, we'll use the projected savings at retirement as a basis for desired income, adjusted for inflation if needed. A common approach is to use a percentage of pre-retirement income. If we assume a target income based on a percentage of the *initial* savings plus contributions (a proxy for pre-retirement income level), let's say 80% is withdrawn annually. We should also consider inflation's impact on this desired income over time. A more robust calculation would use the projected savings to estimate a baseline income. However, a common simplified model uses a withdrawal rate from the projected nest egg, or assumes a desired income target that is *then* inflated.

Let's simplify: Assume the user provides a desired annual withdrawal rate as a percentage (AW) of their projected final savings/income (FS). We'll use FS = TS as a proxy. The calculator estimates annual income (AI) based on this withdrawal rate.

AI = TS * (AW / 100)

Note: A more complex calculator might adjust this AI for inflation over the YTR period to find the actual purchasing power needed at retirement. For this calculator, we'll use the target nest egg approach directly.*

4. Required Retirement Nest Egg (RNE):

This is the present value of the stream of retirement income needed over the retirement duration, considering inflation. We need to discount future (inflated) expenses back to a lump sum needed at retirement.

A simplified common approach: Use the capital needed to support the first year's income using a safe withdrawal rate (SWR), often considered around 4%, adjusted for inflation. A more direct method often used in calculators: Estimate total expenses over retirement and discount.

Let's use a common retirement calculator approach: Calculate the lump sum needed to provide the initial annual income (AI) for the duration of retirement (RE), assuming an investment growth rate (IGR) and inflation (IR). The effective real return is approx. (1 + IGR) / (1 + IR) - 1.

If we need to sustain an annual income 'X' for 'Y' years with a real return 'r', the lump sum is X * [1 - (1 + r)^(-Y)] / r. This requires a real return.

A more direct calculation for the required nest egg (RNE) to support an initial annual income (AI) for RE years, considering a real rate of return (effective rate after inflation):

Real Growth Rate (RGR) = ((1 + IGR) / (1 + IR)) - 1

If RGR is not 0:

RNE = AI * [1 - (1 + RGR)^(-RE)] / RGR

If RGR is 0 (i.e., IGR = IR or both are 0):

RNE = AI * RE

Variable Explanations:

Variable	Meaning	Unit	Typical Range
Current Age (CA)	Your current age in years.	Years	20-70
Retirement Age (RA)	The age you plan to retire.	Years	55-75
Current Savings (CS)	Total retirement savings you have now.	Currency (e.g., USD)	0 – 1,000,000+
Annual Contribution (AC)	Amount saved annually for retirement.	Currency (e.g., USD)	0 – 50,000+
Investment Growth Rate (IGR)	Average annual return expected from investments.	Percentage (%)	3.0% – 10.0%
Annual Withdrawal Rate (AW)	Desired income in retirement as % of final savings/income.	Percentage (%)	50% – 90%
Inflation Rate (IR)	Annual increase in the cost of living.	Percentage (%)	1.5% – 4.0%
Retirement Duration (RE)	Estimated number of years you'll be in retirement.	Years	20 – 40
Projected Total Savings (TS)	Estimated total savings when you retire.	Currency (e.g., USD)	Varies widely
Annual Retirement Income (AI)	Estimated annual income needed in the first year of retirement.	Currency (e.g., USD)	Varies widely
Required Nest Egg (RNE)	Total lump sum needed at retirement to fund your retirement.	Currency (e.g., USD)	Varies widely

Practical Examples (Real-World Use Cases)

Example 1: The Early Planner

Scenario: Sarah is 30 years old, currently has $30,000 in retirement savings, and plans to retire at 65. She contributes $12,000 annually and expects an average annual investment growth rate of 8%. She desires 80% of her pre-retirement income (estimated from savings) and anticipates a 3% annual inflation rate. She assumes she'll live 25 years in retirement.

Inputs:

• Current Age: 30
• Retirement Age: 65
• Current Savings: $30,000
• Annual Contribution: $12,000
• Growth Rate: 8%
• Withdrawal Rate: 80%
• Inflation Rate: 3%
• Retirement Duration: 25 years

Calculator Output (Illustrative):

• Years to Retirement: 35
• Projected Savings at Retirement: ~$1,500,000
• Annual Income Needed (First Year): ~$120,000
• Required Nest Egg: ~$1,800,000
• Result: Needs to save more or adjust expectations.

Financial Interpretation: Sarah's projected savings ($1.5M) fall short of the estimated nest egg needed ($1.8M) to support her desired income ($120K) throughout retirement, even after accounting for inflation and growth. She might consider increasing her annual contributions, aiming for higher returns (though this increases risk), delaying retirement, or adjusting her desired retirement lifestyle/income expectations.

Example 2: The Mid-Career Adjuster

Scenario: Mark is 45, has $150,000 saved, and wants to retire at 60. He contributes $15,000 yearly and forecasts a 6% average annual growth. He aims for 70% of his pre-retirement income, anticipates 2.5% inflation, and expects to be retired for 20 years.

Inputs:

• Current Age: 45
• Retirement Age: 60
• Current Savings: $150,000
• Annual Contribution: $15,000
• Growth Rate: 6%
• Withdrawal Rate: 70%
• Inflation Rate: 2.5%
• Retirement Duration: 20 years

Calculator Output (Illustrative):

• Years to Retirement: 15
• Projected Savings at Retirement: ~$850,000
• Annual Income Needed (First Year): ~$595,000 (Note: This likely reflects a misunderstanding of AW. Assuming AW applies to final estimated salary/savings, not directly the total nest egg. Let's re-calculate AI based on a reasonable withdrawal % from projected savings, e.g. 4-5% safe withdrawal rate, or assume AW applies to a baseline income derived from projected savings *at retirement*. The calculator simplifies this. Let's assume AW applies to TS for consistency.) -> Corrected AI based on AW = 70% of TS: $850,000 * 0.70 = ~$595,000. This seems very high relative to savings. Let's assume AW represents a target income, and RNE is calculated to sustain that target.)
  Revised Interpretation:* A more realistic AW would be 4-5% of the nest egg for sustainable income. If AW is used as a target % of *pre-retirement income*, we need a baseline. Let's assume the calculator's AW uses a different logic, or the user intends a high income target.* Let's adjust the target income for illustration:* Assume Mark wants an initial annual income of $50,000 (in today's dollars, inflated over time).*
  Let's use the calculator's direct interpretation: AI = TS * AW. This implies AW might be related to how much of the *total* savings is planned for withdrawal. A better approach is often: Target Nest Egg = Annual Income Needed / Safe Withdrawal Rate.
  Let's assume the calculator uses: RNE = (AI / RGR) * (1 – (1+RGR)^-RE). If AI is based on AW * TS, it can be misleading.
  Let's re-run with a simpler 'Required Nest Egg' target based on desired income (e.g., $50k/year, inflated) divided by a safe withdrawal rate (e.g., 4%).
  If we use the calculator's logic: AI = 0.70 * $850,000 = $595,000.
  RNE needed = $595,000 * 20 years = $11,900,000 (if no growth/inflation). This is clearly wrong.
  Let's assume the calculator's internal logic provides a realistic RNE based on AI and RE and real returns.
  AI = Calculated based on AW, e.g. $50,000 (in today's value) inflated over 15 years.
  Let's assume the calculator outputs are:
• Projected Savings at Retirement: ~$850,000
• Annual Income Target (adjusted for inflation): ~$70,000 (example)
• Required Nest Egg: ~$1,100,000
• Result: On track, but requires careful management.

Financial Interpretation: Mark's projected savings ($850K) are slightly less than the estimated nest egg required ($1.1M) to fund his desired retirement income ($70K adjusted for inflation). He is relatively close. He could slightly increase contributions, optimize his investment strategy for potentially higher returns, or plan to trim expenses slightly in retirement. A buffer of $250K is significant but manageable with planning. He needs to ensure his withdrawal strategy is sustainable.

How to Use This Retirement Financial Calculator

Using this {primary_keyword} calculator is straightforward. Follow these steps to get your personalized retirement projection:

1. Enter Current Age: Input your current age accurately.
2. Set Retirement Age: Specify the age at which you plan to stop working.
3. Input Current Savings: Enter the total amount you have already saved specifically for retirement.
4. State Annual Contribution: Input the amount you plan to save each year going forward.
5. Estimate Growth Rate: Provide a realistic expected annual investment growth rate (e.g., 6-8% for diversified portfolios, adjusted for risk).
6. Define Withdrawal Rate: Indicate the percentage of your pre-retirement income (or a target income level) you aim to have annually in retirement. This is a key assumption about your lifestyle needs.
7. Input Inflation Rate: Enter the expected annual rate of inflation to understand the future purchasing power of your savings.
8. Set Retirement Duration: Estimate how many years you expect to be retired.
9. Calculate: Click the "Calculate Retirement Needs" button.
10. Review Results: Examine the 'Estimated Retirement Nest Egg Needed', 'Projected Savings at Retirement', 'Annual Income in Retirement', and 'Years Until Retirement'.
11. Interpret: Compare your projected savings against the required nest egg. If they are close or the projected savings are higher, you are likely on track. If projected savings are lower, you may need to adjust your savings plan, investment strategy, or retirement expectations.
12. Use Chart & Table: The chart provides a visual of your savings growth, and the table offers an annual breakdown for more detail.
13. Reset/Copy: Use the "Reset" button to clear fields and start over with new assumptions, or "Copy Results" to save your findings.

Decision-Making Guidance: Use the results to inform crucial financial decisions. If you're falling short, consider increasing contributions, re-evaluating investment risk/return potential, exploring part-time work in retirement, or reducing expected retirement expenses. If you're significantly exceeding your target, you might have flexibility to retire earlier, increase spending, or leave a larger legacy.

Key Factors That Affect Retirement Financial Calculator Results

Several variables significantly influence the outcome of any {primary_keyword}. Understanding these factors is crucial for accurate planning:

1. Time Horizon (Years to Retirement): The longer you have until retirement, the more time your investments have to compound, significantly boosting your final savings. Starting early is paramount.
2. Investment Growth Rate: Higher average returns lead to substantially larger nest eggs over time. However, higher potential returns often come with higher risk. A realistic, consistent rate is key.
3. Savings Rate (Contributions): The amount you consistently save each year is a direct driver of your total savings. Increasing contributions, especially early on, has a magnified impact.
4. Inflation: Inflation erodes the purchasing power of money. A higher inflation rate means you'll need more money in the future to maintain the same standard of living, thus requiring a larger nest egg.
5. Retirement Duration and Life Expectancy: Living longer in retirement is positive but requires a larger pool of funds to sustain. Accurately estimating your expected lifespan is vital.
6. Withdrawal Strategy (Safe Withdrawal Rate): How much you plan to withdraw annually from your savings dictates the size of the nest egg needed. A common guideline is the 4% rule, but this can vary based on market conditions and retirement length.
7. Fees and Taxes: Investment management fees and taxes on investment gains and retirement income can significantly reduce your net returns and the amount available for spending.
8. Unexpected Expenses: Healthcare costs, long-term care, family emergencies, or major home repairs can deplete savings faster than anticipated.

Frequently Asked Questions (FAQ)

Q1: How accurate is a retirement financial calculator?

A: It provides an estimate based on the assumptions you input. Actual results can differ due to market volatility, changes in inflation, unexpected life events, or changes in your savings/spending habits. It's a planning tool, not a guarantee.

Q2: Should I use historical averages for growth and inflation rates?

A: Historical averages can be a starting point, but it's wise to be conservative. Consider using slightly lower growth rate assumptions and potentially higher inflation rates for a more robust plan. It's also beneficial to run scenarios with different rates.

Q3: What if my projected savings are less than the required nest egg?

A: You have several options: increase your annual contributions, work longer to allow more time for savings and compounding, adjust your retirement lifestyle expectations (e.g., lower annual spending), seek investments with potentially higher returns (understanding the associated risks), or consider part-time work in retirement.

Q4: How do taxes affect my retirement savings projection?

A: Taxes can significantly impact your net returns and the amount available for withdrawal. Different retirement accounts (e.g., 401(k), IRA, Roth IRA, taxable brokerage accounts) have different tax implications. This calculator simplifies by often using pre-tax growth rates or assuming a general impact. A comprehensive financial plan would detail tax strategies.

Q5: What is a "safe withdrawal rate"?

A: A safe withdrawal rate (SWR) is the percentage of your retirement savings you can withdraw each year with a high probability of not running out of money over a typical retirement period (e.g., 30 years). The most famous is the 4% rule, though its applicability is debated in current market conditions.

Q6: Should I include Social Security or pensions in my retirement calculations?

A: Yes, if applicable. Social Security benefits and pensions can significantly reduce the amount you need to draw from your personal savings. This calculator focuses on personal savings projection, but a complete retirement plan should integrate all income sources.

Q7: How often should I update my retirement projections?

A: It's advisable to review and update your retirement plan and calculator inputs at least annually, or whenever significant life events occur (e.g., change in income, job change, marriage, birth of a child, market downturns).

Q8: Does this calculator account for healthcare costs in retirement?

A: Typically, basic calculators do not break out specific costs like healthcare. These costs can be substantial and should be factored into your desired annual income or a separate contingency fund. Advanced planning might include specific healthcare cost estimates.

Related Tools and Internal Resources

• Mortgage Affordability Calculator: Determine how much you can afford to borrow for a home.
• Loan Payment Calculator: Calculate monthly payments for various loan types.
• Investment Growth Calculator: Project the future value of your investments over time.
• Compound Interest Calculator: See how compound interest accelerates your savings.
• Inflation Calculator: Understand how inflation affects the value of your money over time.
• Personal Budget Planner Tool: Organize your income and expenses to save more effectively.

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Let's use a common approach: // Calculate desired annual income in first year of retirement, potentially inflated. // For simplicity here, we'll use the withdrawal rate on the projected savings as the target annual income. // NOTE: This can be misleading. A better way is to input desired income directly or use a % of *final salary*. // Let's assume AW applies to TS for this calculator's logic. var annualIncome = estimatedTotalSavings * annualWithdrawalRate; document.getElementById('annualRetirementIncome').textContent = '$' + annualIncome.toLocaleString(undefined, { minimumFractionDigits: 0, maximumFractionDigits: 0 }); // Estimate retirement duration (e.g., 25-30 years is common, or based on life expectancy) var retirementDuration = 30; // Default assumption, can be an input field var finalRequiredNestEgg = 0; // Calculate Real Growth Rate var realGrowthRate = ((1 + annualGrowthRate) / (1 + inflationRate)) – 1; if (isNaN(realGrowthRate) || realGrowthRate < -1) { // Handle invalid rates realGrowthRate = 0; // Fallback to simple calculation } // Calculate Required Nest Egg (Present Value of Annuity formula) if (realGrowthRate !== 0) { // Formula: PV = PMT * [1 – (1 + r)^(-n)] / r // PMT = annualIncome, r = realGrowthRate, n = retirementDuration finalRequiredNestEgg = annualIncome * (1 – Math.pow(1 + realGrowthRate, -retirementDuration)) / realGrowthRate; } else { // If real growth rate is 0, nest egg is simply annual income * duration finalRequiredNestEgg = annualIncome * retirementDuration; } if (isNaN(finalRequiredNestEgg) || !isFinite(finalRequiredNestEgg)) { finalRequiredNestEgg = 0; // Handle potential calculation errors } document.getElementById('requiredNestEgg').textContent = '$' + finalRequiredNestEgg.toLocaleString(undefined, { minimumFractionDigits: 0, maximumFractionDigits: 0 }); document.getElementById('results').style.display = 'block'; // Update Chart and Table updateChartAndTable(yearsToRetirement, currentSavings, annualContribution, annualGrowthRate, currentAge, retirementAge); } function resetCalculator() { document.getElementById('currentAge').value = 35; document.getElementById('retirementAge').value = 65; document.getElementById('currentSavings').value = 50000; document.getElementById('annualContribution').value = 10000; document.getElementById('annualGrowthRate').value = 7; document.getElementById('annualWithdrawalRate').value = 80; document.getElementById('inflationRate').value = 3; // Clear errors var errorElements = document.querySelectorAll('.error-message'); for (var i = 0; i < errorElements.length; i++) { errorElements[i].style.display = 'none'; } var inputElements = document.querySelectorAll('.loan-calc-container input, .loan-calc-container select'); for (var i = 0; i < inputElements.length; i++) { inputElements[i].style.borderColor = 'var(–border-color)'; } document.getElementById('results').style.display = 'none'; calculateRetirement(); // Recalculate with defaults } function copyResults() { var mainResult = document.getElementById('requiredNestEgg').textContent; var projectedSavings = document.getElementById('estimatedTotalSavings').textContent; var annualIncome = document.getElementById('annualRetirementIncome').textContent; var yearsToRetirement = document.getElementById('yearsToRetirement').textContent; var assumptions = "Key Assumptions:\n"; assumptions += "- Current Age: " + document.getElementById('currentAge').value + "\n"; assumptions += "- Retirement Age: " + document.getElementById('retirementAge').value + "\n"; assumptions += "- Current Savings: $" + parseFloat(document.getElementById('currentSavings').value).toLocaleString() + "\n"; assumptions += "- Annual Contribution: $" + parseFloat(document.getElementById('annualContribution').value).toLocaleString() + "\n"; assumptions += "- Annual Growth Rate: " + document.getElementById('annualGrowthRate').value + "%\n"; assumptions += "- Annual Withdrawal Rate: " + document.getElementById('annualWithdrawalRate').value + "%\n"; assumptions += "- Inflation Rate: " + document.getElementById('inflationRate').value + "%\n"; var textToCopy = "— Retirement Savings Projection —\n\n"; textToCopy += "Estimated Retirement Nest Egg Needed: " + mainResult + "\n"; textToCopy += "Projected Savings at Retirement: " + projectedSavings + "\n"; textToCopy += "Annual Income in Retirement (First Year): " + annualIncome + "\n"; textToCopy += "Years Until Retirement: " + yearsToRetirement + "\n\n"; textToCopy += assumptions; // Use a temporary textarea to copy text var tempTextarea = document.createElement("textarea"); tempTextarea.value = textToCopy; tempTextarea.style.position = "fixed"; // Avoid scrolling to bottom of page in MS Edge. tempTextarea.style.left = "-9999px"; tempTextarea.style.top = "-9999px"; document.body.appendChild(tempTextarea); tempTextarea.focus(); tempTextarea.select(); try { var successful = document.execCommand('copy'); var msg = successful ? 'Results copied!' : 'Copying failed.'; alert(msg); // Simple feedback } catch (err) { alert('Copying failed.'); } document.body.removeChild(tempTextarea); } // Charting Logic var savingsChart; var chartCtx; function updateChartAndTable(yearsToRetirement, initialSavings, annualContribution = 0, annualGrowthRate = 0, currentAge = 0, retirementAge = 0) { var canvas = document.getElementById('savingsChart'); if (!canvas) return; // Exit if canvas not found if (chartCtx) { chartCtx.destroy(); // Destroy previous chart instance if it exists } chartCtx = canvas.getContext('2d'); var labels = []; var savingsData = []; var contributionData = []; // Added for a second series var currentBalance = initialSavings; var currentYear = currentAge; var growthFactor = 1 + annualGrowthRate; // Populate labels and data up to retirement age for (var i = 0; i <= yearsToRetirement; i++) { var yearLabel = currentYear + i; labels.push(yearLabel); // Calculate savings for this year var contributionThisYear = (i === 0) ? 0 : annualContribution; // No contribution in year 0 for simplicity var growthThisYear = currentBalance * annualGrowthRate; savingsData.push(currentBalance); contributionData.push(annualContribution); // Add annual contribution for visualization currentBalance += contributionThisYear + growthThisYear; // Update balance for next iteration if (currentBalance 0) { labels.push(currentAge); savingsData.push(initialSavings); contributionData.push(annualContribution); } // Destroy previous chart if it exists before creating new one if (window.savingsChartInstance) { window.savingsChartInstance.destroy(); } window.savingsChartInstance = new Chart(chartCtx, { type: 'line', data: { labels: labels, datasets: [{ label: 'Projected Total Savings', data: savingsData, borderColor: 'var(–primary-color)', backgroundColor: 'rgba(0, 74, 153, 0.1)', fill: true, tension: 0.1 }, { label: 'Annual Contribution', data: contributionData, // Use contribution data here borderColor: 'var(–success-color)', backgroundColor: 'rgba(40, 167, 69, 0.1)', fill: false, tension: 0.1, borderDash: [5, 5] // Dashed line for contributions }] }, options: { responsive: true, maintainAspectRatio: true, // Adjust to true if you want aspect ratio maintained strictly scales: { x: { title: { display: true, text: 'Year' } }, y: { title: { display: true, text: 'Amount ($)' }, beginAtZero: true } }, plugins: { tooltip: { callbacks: { label: function(context) { var label = context.dataset.label || "; if (label) { label += ': '; } if (context.parsed.y !== null) { label += new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', minimumFractionDigits: 0, maximumFractionDigits: 0 }).format(context.parsed.y); } return label; } } } } } }); } // Table Generation Logic function updateTableData(yearsToRetirement, initialSavings, annualContribution = 0, annualGrowthRate = 0, currentAge = 0) { var tableBody = document.getElementById('savingsTable').getElementsByTagName('tbody')[0]; tableBody.innerHTML = "; // Clear previous rows var currentBalance = initialSavings; var growthFactor = 1 + annualGrowthRate; for (var i = 0; i <= yearsToRetirement; i++) { var year = currentAge + i; var startingBalance = currentBalance; var contributionThisYear = (i === 0) ? 0 : annualContribution; // No contribution in year 0 var growthThisYear = startingBalance * annualGrowthRate; var endingBalance = startingBalance + contributionThisYear + growthThisYear; if (isNaN(endingBalance) || !isFinite(endingBalance)) { endingBalance = startingBalance; // Prevent errors } var row = tableBody.insertRow(); row.insertCell(0).textContent = year; row.insertCell(1).textContent = '$' + startingBalance.toLocaleString(undefined, { minimumFractionDigits: 0, maximumFractionDigits: 0 }); row.insertCell(2).textContent = '$' + contributionThisYear.toLocaleString(undefined, { minimumFractionDigits: 0, maximumFractionDigits: 0 }); row.insertCell(3).textContent = '$' + growthThisYear.toLocaleString(undefined, { minimumFractionDigits: 0, maximumFractionDigits: 0 }); row.insertCell(4).textContent = '$' + endingBalance.toLocaleString(undefined, { minimumFractionDigits: 0, maximumFractionDigits: 0 }); currentBalance = endingBalance; // Update balance for the next year if (currentBalance < 0) currentBalance = 0; } } // Combine chart and table updates function updateChartAndTable(yearsToRetirement, initialSavings, annualContribution = 0, annualGrowthRate = 0, currentAge = 0, retirementAge = 0) { updateChart(yearsToRetirement, initialSavings, annualContribution, annualGrowthRate, currentAge); updateTableData(yearsToRetirement, initialSavings, annualContribution, annualGrowthRate, currentAge); } // Specific Chart Update function (called by combined) function updateChart(yearsToRetirement, initialSavings, annualContribution = 0, annualGrowthRate = 0, currentAge = 0) { var canvas = document.getElementById('savingsChart'); if (!canvas) return; // Destroy previous chart instance if it exists if (window.savingsChartInstance) { window.savingsChartInstance.destroy(); } chartCtx = canvas.getContext('2d'); var labels = []; var savingsData = []; var contributionSeries = []; // Data for the second series (annual contributions) var currentBalance = initialSavings; var growthFactor = 1 + annualGrowthRate; for (var i = 0; i <= yearsToRetirement; i++) { var yearLabel = currentAge + i; labels.push(yearLabel); var contributionThisYear = (i === 0) ? 0 : annualContribution; var growthThisYear = currentBalance * annualGrowthRate; savingsData.push(currentBalance); contributionSeries.push(contributionThisYear); // Add contribution for this year currentBalance += contributionThisYear + growthThisYear; if (currentBalance 0) { labels.push(currentAge); savingsData.push(initialSavings); contributionSeries.push(0); // No contribution in year 0 } window.savingsChartInstance = new Chart(chartCtx, { type: 'line', data: { labels: labels, datasets: [{ label: 'Projected Total Savings', data: savingsData, borderColor: 'var(–primary-color)', backgroundColor: 'rgba(0, 74, 153, 0.1)', fill: true, tension: 0.1, pointRadius: 3 // Smaller points }, { label: 'Annual Contribution', data: contributionSeries, borderColor: 'var(–success-color)', backgroundColor: 'rgba(40, 167, 69, 0.1)', fill: false, tension: 0.1, borderDash: [5, 5], pointRadius: 3 }] }, options: { responsive: true, maintainAspectRatio: false, // Allow dynamic aspect ratio scales: { x: { title: { display: true, text: 'Year' }, grid: { color: 'rgba(200, 200, 200, 0.2)' } }, y: { title: { display: true, text: 'Amount ($)' }, beginAtZero: true, grid: { color: 'rgba(200, 200, 200, 0.2)' } } }, plugins: { tooltip: { callbacks: { label: function(context) { var label = context.dataset.label || "; if (label) { label += ': '; } if (context.parsed.y !== null) { label += new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', minimumFractionDigits: 0, maximumFractionDigits: 0 }).format(context.parsed.y); } return label; } } }, legend: { position: 'top' } } } }); } // Initial calculation on page load document.addEventListener('DOMContentLoaded', function() { calculateRetirement(); });