Introduction
When you retire or stop working, you need to know how long your savings will last. This How Long Will My Money Last calculator helps you find out. Enter your total savings, how much you plan to take out each month, your expected investment return, and your tax bracket. The calculator will show you how many years and months your money can support you.
You can also switch modes. Instead of asking how long your money will last, you can ask how much you can safely withdraw each period to make your savings last a set number of years. This is useful when you want to plan your retirement withdrawals around a specific goal, like making your nest egg last 25 or 30 years.
The tool accounts for taxes on your investment gains and lets you add a yearly increase to your withdrawals to keep up with inflation. You will see a full breakdown of your balance over time, a chart, and a step-by-step explanation of the math behind the results. Use it to build a clearer picture of your retirement spending plan and make smarter choices with your money.
How to Use Our How Long Will My Money Last Calculator
Enter details about your savings, withdrawals, and expected returns below. The calculator will show you how long your money will last or how much you can safely withdraw each period.
Calculation Mode: Pick "How long will it last?" to find out when your savings run out. Pick "How much can I withdraw?" to find the most you can take out over a set time frame.
Current Savings Balance: Enter the total amount of money you have saved right now. This is your starting balance.
Withdrawal Amount: In duration mode, enter how much money you plan to take out each period. This can be monthly, quarterly, or annually based on the frequency you choose.
Desired Duration: In withdrawal mode, enter how many years and months you want your money to last. The calculator will then solve for the right withdrawal amount.
Withdrawal Frequency: Choose how often you plan to take money out: monthly, quarterly, or annually.
Before-Tax Annual Return: Enter the yearly return you expect your savings to earn before taxes. You can set this from −12% to 12%. Use a negative number to test how your money holds up in a bad market.
Federal Marginal Tax Bracket: Enter your tax rate. The calculator uses this to figure out your after-tax return, which gives you a more realistic result.
Annual Withdrawal Increase: Enter the percentage by which your withdrawal grows each year. This helps account for inflation or rising cost of living over time.
How Long Will My Money Last?
When you stop working, your savings become your paycheck. Every month you pull money out, and that pile gets smaller. The big question is: will your money last as long as you need it to? This calculator helps you find the answer.
How Retirement Savings Run Out
Your savings don't just sit still. While you take money out, the balance left behind can still earn interest. Your money lasts longer when your investments grow faster than you spend. It runs out sooner when you withdraw too much or earn too little.
Three things control how long your money lasts:
- How much you have saved. A bigger starting balance gives you more runway. Accounts like a 401(k), Roth IRA, or traditional IRA all contribute to this total.
- How much you take out. Smaller withdrawals stretch your money further.
- What your money earns. A higher return on your investments helps your balance last longer. But taxes eat into that return, so what matters is your after-tax return, the growth you actually keep.
Why Withdrawal Increases Matter
Prices go up over time. This is called inflation. A gallon of milk that costs $4 today might cost $5 in a few years. To keep up, most retirees need to pull out a little more each year. This calculator lets you add a yearly increase to your withdrawals so your plan stays realistic.
Two Ways to Use This Calculator
You can use it in two modes. In duration mode, you enter how much you plan to withdraw and the calculator tells you how many years and months your savings will last. In withdrawal mode, you enter how long you want your money to last and the calculator tells you the most you can safely take out each period.
What Is a Safe Withdrawal Rate?
A safe withdrawal rate is the amount you can pull from your savings each year without running out of money too soon. Many financial planners use the 4% rule as a starting point. This rule says you can withdraw about 4% of your savings in the first year of retirement, then adjust for inflation each year after that.1 In the historical test behind it, a first-year withdrawal of 4 percent never exhausted a portfolio in under 33 years.1 However, the right rate for you depends on your actual returns, tax bracket, and how long you need the money to last. This calculator does that math for you using your own numbers.