Estimate how your retirement savings could grow over time based on your current balance, contributions, expected rate of return, and years until retirement.
Plan ahead with the right savings calculator.
Whether you’re building an emergency fund, saving for college, or preparing for retirement, a savings calculator can help you understand how your current contributions, timeline, and expected returns may affect your progress.
Use the calculators below to explore different scenarios and make more informed decisions about your savings goals.
Turn your estimate into a savings plan
Calculators can provide a useful starting point, but your goals, timeline, and financial situation are unique. Explore Michigan First savings and retirement account options to find the right place for the money you’re setting aside.
Retirement Savings Calculator
Best if you are looking to: See whether your current retirement savings strategy may be enough to support your long-term goals.
Savings Goal Calculator
Best if you are looking to: Build a savings plan for a vacation, major purchase, emergency fund, or another future expense.
Find out how much you may need to save each month to reach a specific financial goal by your target date.
College Savings Calculator
Best if you are looking to: Create a long-term savings strategy for a child’s or family member’s education.
Estimate how much you may need to save for future college costs and see how regular contributions could help you prepare.
Retirement Income Calculator
Best if you are looking to: Understand how your accumulated retirement savings could translate into income after you stop working.
Estimate how much income your retirement savings may provide and how long those funds could last based on your assumptions.
Roth vs. Traditional IRA Calculator
Best if you are looking to: Explore which IRA approach may better fit your current tax situation and retirement strategy.
Compare the potential tax impact and long-term value of contributing to a Roth IRA versus a Traditional IRA.