Lifetime Earnings Calculator
Calculate your total career earnings potential with salary growth projections and retirement planning
Calculate Your Lifetime Earnings
Your current age in years
Age when you plan to retire
Select your preferred currency
Your gross annual salary before taxes
Average percentage increase per year (typically 2-5%)
Lifetime Earnings Projection
Career Overview
Earnings Summary
Formula & Calculation
Formula: Lifetime Earnings = Salary × [1 - (1 + Increase)^Years] / [1 - (1 + Increase)]
Input Values: Current Salary: $0, Increase: 0%, Years: 0
Financial Planning Insights
Example Calculation
Dr. Sarah - 25-Year-Old Physician
Current Age: 25 years
Retirement Age: 65 years
Working Years Left: 40 years
Current Salary: $200,000
Expected Annual Increase: 4%
Lifetime Earnings Calculation
Using the compound growth formula:
$200,000 × [1 - (1.04)^40] / [1 - 1.04]
Total Lifetime Earnings: $19,564,513
Average Annual Salary: $489,113
Final Year Salary: $960,563
Career Financial Milestones
Early Career (20s-30s)
Focus on skill building and debt reduction
Save 10-15% of income
Mid Career (30s-40s)
Peak earning years and wealth accumulation
Save 15-20% of income
Late Career (50s-60s)
Retirement preparation and catch-up contributions
Save 20%+ of income
Factors Affecting Lifetime Earnings
Education Level: Higher education typically leads to higher earnings
Industry Choice: Some sectors offer higher growth potential
Geographic Location: Cost of living and market demand vary
Skills Development: Continuous learning increases earning potential
Economic Conditions: Market trends affect salary growth
Understanding Lifetime Earnings
What are Lifetime Earnings?
Lifetime earnings represent the total amount of money you can expect to earn throughout your entire working career. This calculation takes into account your current salary, expected annual increases, and the number of working years remaining until retirement.
Why Calculate Lifetime Earnings?
- •Make informed financial decisions and career choices
- •Plan for retirement and set savings goals
- •Determine appropriate life insurance coverage
- •Understand the value of education and skill development
Calculation Formula
Lifetime Earnings = Salary × [1 - (1 + Increase)^Years] / [1 - (1 + Increase)]
- Salary: Current annual salary
- Increase: Annual salary increase rate (as decimal)
- Years: Number of working years remaining
Note: This formula accounts for compound growth in salary over time, providing a more accurate projection than simple multiplication.