Planning for retirement is crucial, and a retirement savings calculator can help you estimate how much you need to save to achieve your financial goals. This calculator helps you project your future savings based on your current savings, expected contributions, investment growth rate, and desired retirement age.
.calculator-container {
font-family: Arial, sans-serif;
max-width: 600px;
margin: 20px auto;
padding: 20px;
border: 1px solid #ccc;
border-radius: 8px;
box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);
}
.calculator-inputs {
margin-bottom: 20px;
}
.input-row {
margin-bottom: 15px;
display: flex;
justify-content: space-between;
align-items: center;
}
.input-row label {
display: inline-block;
width: 200px; /* Adjust as needed */
font-weight: bold;
}
.input-row input {
padding: 8px;
border: 1px solid #ccc;
border-radius: 4px;
width: 150px; /* Adjust as needed */
}
button {
padding: 10px 20px;
background-color: #007bff;
color: white;
border: none;
border-radius: 4px;
cursor: pointer;
font-size: 16px;
}
button:hover {
background-color: #0056b3;
}
.calculator-result {
margin-top: 20px;
padding: 15px;
background-color: #f8f9fa;
border: 1px solid #e9ecef;
border-radius: 4px;
font-size: 18px;
text-align: center;
}
function calculateRetirementSavings() {
var currentSavings = parseFloat(document.getElementById("currentSavings").value);
var annualContribution = parseFloat(document.getElementById("annualContribution").value);
var expectedReturnRate = parseFloat(document.getElementById("expectedReturnRate").value) / 100; // Convert percentage to decimal
var retirementAge = parseInt(document.getElementById("retirementAge").value);
var currentAge = parseInt(document.getElementById("currentAge").value);
var resultDiv = document.getElementById("result");
// Input validation
if (isNaN(currentSavings) || isNaN(annualContribution) || isNaN(expectedReturnRate) || isNaN(retirementAge) || isNaN(currentAge)) {
resultDiv.innerHTML = "Please enter valid numbers for all fields.";
return;
}
if (currentSavings < 0 || annualContribution < 0 || expectedReturnRate < 0 || retirementAge <= currentAge) {
resultDiv.innerHTML = "Please enter valid positive numbers and ensure retirement age is greater than current age.";
return;
}
var yearsToRetirement = retirementAge – currentAge;
var futureValue = currentSavings;
for (var i = 0; i < yearsToRetirement; i++) {
futureValue += annualContribution; // Add annual contribution first
futureValue *= (1 + expectedReturnRate); // Apply growth rate
}
resultDiv.innerHTML = "Estimated Retirement Savings: $" + futureValue.toFixed(2);
}