Retirement & Planning

Retirement Shortfall Calculator

Running out of your retirement savings too soon is one of the biggest risks to a comfortable retirement. Use this calculator to find a potential shortfall in your current retirement savings plan.

Inputs

Current age

Retirement age

Current savings

Annual contributions

Annual return

Retirement savings goal

Estimates only. Adjust any value to recalculate instantly.

Results

Projected shortfall $389,041 save $480.25/mo more to close it

Projected savings $1,110,959

Your goal $1,500,000

Shortfall $389,041

Extra monthly needed $480.25

Goal coverage

Projected $1.1M
Shortfall $389k

You are projected to fall $389,041 short of your $1,500,000 goal. Saving an extra $480.25 a month would close the gap — and starting now means compounding does much of the work.

Projected balance by yearView table

Year	Balance
1	$96,300
2	$113,741
3	$132,403
4	$152,371
5	$173,737
6	$196,599
7	$221,061
8	$247,235
9	$275,241
10	$305,208
11	$337,273
12	$371,582
13	$408,292
14	$447,573
15	$489,603
16	$534,575
17	$582,696
18	$634,184
19	$689,277
20	$748,227
21	$811,302
22	$878,794
23	$951,009
24	$1,028,280
25	$1,110,959

How the retirement shortfall calculator works

It projects your savings to retirement, subtracts that from your goal to find any shortfall, and solves for the extra monthly saving that would close the gap by your retirement date.

Worked example

Worked example: with current age of 40, retirement age of 65 and current savings of $80,000, the retirement shortfall calculator shows projected shortfall of $389,041.

Projected savings: $1,110,959
Your goal: $1,500,000
Shortfall: $389,041
Extra monthly needed: $480.25

The formula

Shortfall = goal − projected balance. Extra monthly = the contribution that grows to the shortfall over the years remaining at your return.

Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.

Frequently asked

Questions about the retirement shortfall calculator

How do I know if I’m behind on retirement?

Compare your projected savings to your goal. If projected savings fall short, you have a shortfall — and the calculator shows the extra monthly saving needed to fix it.

How much extra should I save?

Enough that the additional contributions, compounded to retirement, cover the gap. Starting now means compounding does much of the work, so the required amount is smaller the earlier you act.

What if I can’t save the full amount?

Close part of the gap, and combine it with working slightly longer or trimming your target income. Every extra dollar saved reduces the shortfall.

Is the Retirement Shortfall Calculator free to use?

Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.

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