How does the retirement calculator estimate my future retirement savings?

A retirement calculator estimates your future retirement savings based on a variety of factors, including your current age, desired retirement age, current income, expected retirement income, and expected rate of return on your investments. It also takes into account any existing retirement savings or investments you may have, as well as any expected changes in your income or expenses over time.

The calculator typically uses these factors to create a projection of your future retirement savings, based on assumptions about how your investments will perform over time. It can then help you determine how much you should be saving each month in order to meet your retirement goals.

It's important to keep in mind that retirement calculators are only estimates and may not reflect the actual amount of savings you will have at retirement. They can, however, be a useful tool for helping you set goals and develop a savings plan.