Wondering when you can retire and how much you can spend once you do? Small changes to what you save today can add years of income later. Use the free calculator below to see how long your savings could last and how much you could draw each year and each month.
Retirement & Savings Drawdown Calculator »
How the calculator helps
Enter your age, the age you want to retire, your current savings, and what you add each month. Then set the yearly income you would like in today's dollars and any other income you expect, like Social Security or a pension. The calculator shows your years to retirement, your projected savings at retirement, and the yearly and monthly income your savings can support. A year-by-year table shows how your balance changes, so you can see whether your money lasts to the age you choose.
Ways to make your retirement savings last longer
- Save a little more each month. Extra contributions early on have the most time to grow, so even a small increase matters.
- Work a year or two longer. Retiring later means more years of saving, fewer years of withdrawals, and often a larger Social Security check.
- Plan for inflation. Prices rise over time, so the income you need in 20 years is higher than today. Turn on inflation-adjusted withdrawals in the calculator to see the effect.
- Count your other income. Social Security, a pension, or part-time work lowers how much you need to take from savings each year.
- Be flexible with spending. Trying a slightly lower yearly income in the calculator can show how much longer your savings would last.
Before you rely on the numbers
The calculator uses steady average returns and inflation, but real markets rise and fall, and a weak market early in retirement can hurt more than the same drop later. Taxes, fees, and health care costs are not included. Try a lower return, a higher inflation rate, and a longer life expectancy to see how your plan holds up.
Try it now
Run a few scenarios and see what fits your goals:
This calculator and article are for general information only and are not financial advice. Talk with a financial professional about your specific situation.
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