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Retirement savings calculator: Figure out how much money you need to retire

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Twenty/20

The idea of becoming a millionaire may seem daunting, but based on Grow calculations, a million dollars or more is what most 25-year-olds today may need to retire comfortably.

The good news is, getting there may be easier than you think, especially if you start saving and investing in your 20s.

The sooner you begin, the easier it is to build wealth for the future. That's thanks to the power of compound interest, which means your money grows at a faster rate because you earn interest on your savings as well as interest on the interest you've earned.

If you haven't already begun saving and investing for retirement, the time to start working toward on your nest egg is now. Because of the power of compounding, putting away even a small amount each month can have a large impact over time.

We've put together a tool that can help you estimate how much you'll need to be comfortable later on and can help you get started on a plan.

Follow along and enter your information below to get a personalized retirement savings goal. If you are planning for yourself and a partner, you may want to input household numbers rather than individual ones.