MillionCalc - Pension Calculatorhow soon will your pension reach a million?


Enter your Age Now
Enter your Retirement Age
What is your Starting Pot?

How much do you currently have in your pension?

Starting Year is
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Compound Frequency
Scenario

What should be your MONTHLY PENSION PAYMENTS, when you know your retirement age and desired pot size

7% growth would already have 3% deducted to account for inflation. So actual pot growth would be 10% - 3% = 7% overall

Short Timeframe Medium Timeframe Longest Timeframe
Interest Rate %
Best show
Medium show
Worst show
Best Pot
Medium Pot
Worst Pot
Dire Pot
Best Pot
Medium Pot
Worst Pot
Dire Pot
Best Pot
Medium Pot
Worst Pot
Dire Pot

Withdrawal per Year

Actual interest rate would be eg. 7% but you need to subtract 3% for inflation & 1% for pot growth = leaving 3% for withdrawal which you specify below.

(Excludes state pension)

Interest Rate %
Pot Size £
 Duduct tax @ %

Withdrawal per Month

Interest Rate %
Pot Size £

Calculate what a pot will be worth over 100 years depending on deposits and interest rates

Instructions:

Click the ⬇ to copy the Monthly Deposit to the years below

Click on any line to view more detailed information.

 

# Year Age Monthly Pot @ % Pot @ % Pot @ %
Deposit Include Deposits Include Deposits Include Deposits

Compare two savings pots with different monthly deposits and/or interest rates (for example Pension & ISA).

Click on any line to view more detailed information.

 

Pot 1 Pot 2 Diff of
# Year Age Monthly Interest Starting Pot Yearly Monthly Interest Starting Pot Yearly Pot 1
Deposit % Gain £ Deposit % Gain £ & Pot 2

Interest % Year / Month Year / Month
 Duduct tax @ %

Calculate making a regular payment into a savings account (for a child, etc).

Top tips to maximise your savings to achieve the largest pension pot in the future.

  1. The stock market rises over time as more people are paying into their pension than withdrawing their pension money.
  2. The stock market has outperformed other assets over the last 100 years (property, gold).
  3. It is easy and quick to sell stocks, as opposed to other investments which can take a long time.
  4. Work backwards from when you think you might die... what percent do you think you'll get, inflation%, what % will you withdraw. how many years.
regressive tax
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