About the Annuity Calculator
See how an annuity grows while you save and the monthly income it can pay in retirement. This tool is free, works in your browser and needs no sign-up.
How to use the Annuity Calculator
Enter the starting balance, monthly contribution, interest rate, years of saving and the years of payouts after that.
Formula used
Balance = Start × (1 + r)^n + Contribution × ((1 + r)^n − 1) ÷ r. Payout = Balance × r × (1 + r)^m ÷ ((1 + r)^m − 1).
Example
With Starting balance 20000, Monthly contribution 500, Interest rate (% per year) 5, Years of saving 20, Years of payouts after that 20, the calculator shows: Balance after saving = 259,769.64; Total you paid in = 140,000.00; Interest earned while saving = 119,769.64.
Frequently asked questions
What are the two phases of an annuity?
The accumulation phase is when you pay in and the balance grows. The payout phase is when the annuity pays you regular income.
Is the Annuity Calculator free to use?
Yes. It is completely free and you can use it as many times as you like.
How accurate is the Annuity Calculator?
The calculator uses standard formulas, so the maths is exact. Real life results can differ because of fees, taxes, rounding or personal factors, so treat the answer as an estimate.
Do you store the numbers I enter?
No. All calculations run in your browser. The values you type are not sent to our server.
Disclaimer: results are estimates for information only. They are not financial, medical or professional advice.