Estimate how long retirement savings may last—or the monthly budget they could cover. Compare returns, inflation and other income.
Free retirement withdrawal calculator
Your projection
Illustrative estimateInputs changed. Calculate again to update this result.
Preparing the example projection…
Savings over time
Future dollars show the modeled account balance before adjusting for inflation.
These are constant-return scenarios, not probabilities or guarantees. Market volatility and RMDs are not modeled.
Year-by-year withdrawal schedule
| Year | Age at year end | Spending target | Net other income | Gross portfolio withdrawals | Tax allowance | Ending savings | Unfunded spending |
|---|
Monthly retirement withdrawal calculator: read your results
Your monthly spending target is the amount you want available to spend. Social Security, a pension or other income can cover part of it. The calculator estimates the remainder your savings need to provide.
For example, a $5,000 spending target with $2,000 of net monthly income leaves a $3,000 monthly gap. If you add a tax allowance, the gross portfolio withdrawal needed to cover that gap will be higher.
- How long will my savings last? Test your own monthly spending target over the chosen retirement period.
- What monthly budget could they cover? Estimate a starting spending amount that uses nearly all the modeled savings by the end of that period.
“30 years covered” means the target is met within a 30-year model. It does not mean the savings will last indefinitely.
Retirement withdrawal calculator with taxes: use a clear assumption
Tax treatment can change the amount you have available to spend. Traditional IRA distributions are generally taxable, with exceptions such as a return of nondeductible contributions. Qualified Roth IRA distributions can be tax-free when the IRS requirements are met. See IRS Publication 590-B for the rules that apply to your account.
This calculator offers an optional, simplified tax allowance. You choose an effective tax rate and the share of each portfolio withdrawal you expect to be taxable. It then increases the gross withdrawal enough to cover your spending gap after that allowance.
| Monthly spending gap | Tax assumption | Gross withdrawal needed |
|---|---|---|
| $3,000 | No tax allowance | $3,000 |
| $3,000 | 20% rate; 100% taxable | $3,750 |
| $3,000 | 20% rate; 50% taxable | About $3,333 |
Enter other income after its expected taxes so it is not taxed twice in this model. The allowance is a constant estimate; it does not calculate federal or state brackets, filing status, deductions, capital gains, Social Security taxation, penalties or an account-by-account withdrawal order. An actual tax-aware retirement plan needs those details.
Simple retirement withdrawal calculator: how the model works
The calculator follows your retirement plan month by month. It first subtracts any savings you want to keep outside the plan. At the start of each month it uses other income to reduce your spending gap, withdraws the remaining amount from the portfolio and then applies a monthly investment return.
Monthly portfolio withdrawal before tax
Spending gap ÷ [1 − (effective tax rate × taxable share)]
The annual return is converted into an effective monthly rate, so twelve months of growth match your chosen annual rate. Spending and income increases occur on each retirement anniversary. If income starts later, its first payment equals the amount you entered; its own annual increases begin after that.
See the assumptions and limits
All starting amounts are in dollars at the beginning of retirement. This is a withdrawal-phase model: it does not project savings or contributions before retirement. Returns are nominal and should be entered after investment fees. Each scenario keeps its return constant. Excess other income is not added to the portfolio. The excluded reserve earns no modeled return. The model reports the first month when withdrawals cannot cover the full spending gap; balances then remain at zero unless sufficient other income covers later costs. It does not simulate market volatility, account-specific taxes, RMDs or changing healthcare expenses.
In monthly-budget mode, the calculator searches for the starting spending target the modeled portfolio and other income can cover for your chosen period. This is a planning estimate, not a recommended or guaranteed “safe withdrawal rate.”
Choosing the best retirement withdrawal calculator for your situation
A useful calculator should answer your question and make its assumptions easy to inspect. A quick monthly projection can help you understand a spending gap. A detailed account and tax plan requires a different level of modeling.
Here, Lower return uses two percentage points below your selected annual return; Higher return uses two points above it. Your inflation, income and timing assumptions stay the same. These are comparisons, not predictions or probabilities.
In savings-duration mode, compare the same spending target under all three returns. In monthly-budget mode, each return has its own estimated budget. Then try increasing inflation or lowering spending to see how the plan changes.
A constant average return cannot show the effect of poor returns early in retirement. Use a model with documented variable-return assumptions if you want to investigate that risk further.
Inflation changes the meaning of a monthly withdrawal
A fixed dollar payment may buy less over time. The spending-inflation setting raises your target once a year. Set it to 0% to test a constant dollar budget, or use your own assumption to model increasing costs.
Other income may rise at a different rate. A pension with no annual adjustment can cover a smaller share of a growing budget, while Social Security's actual cost-of-living adjustments vary. The income-growth fields are assumptions you can change; they do not predict future adjustments.
Switch the chart between Future $ and Starting-year $. The latter discounts balances using your spending-inflation assumption so you can compare their buying power with the start of retirement. See BLS consumer price information and the Social Security COLA explanation for background.
A retirement withdrawal example you can test
The calculator opens with these illustrative inputs. They are example amounts, not recommended settings for your situation.
| Age and planning period | 65; 30 years, through age 95 |
| Starting retirement savings | $900,000 |
| Monthly spending target | $5,000 |
| Net Social Security and pension | $1,800 + $200 per month |
| Starting portfolio withdrawal | $3,000 per month; $36,000 per year |
| Starting withdrawal rate | 4% of the initial savings |
| Annual return and spending inflation | 5% after fees; 2.5% inflation |
| Income growth | Social Security 2.5%; pension 0% |
| Tax allowance and excluded reserve | Off; $0 reserve |
The initial $36,000 withdrawal is 4% of $900,000. That arithmetic alone does not establish that the plan is safe. Later withdrawals depend on inflation, income growth and the chosen returns. Turn on a 20% allowance with 100% taxable withdrawals and the initial gross draw becomes $45,000 a year, or 5% of the starting savings.
Return to the calculator and use Reset example to restore these figures. Open the year-by-year schedule to see withdrawals, the tax allowance and any unfunded spending. The CSV download includes your assumptions and annual results.
Withdrawal strategies and rules to consider separately
A fixed dollar budget
Set spending inflation to 0%. The target stays constant, although its buying power may decline. Portfolio withdrawals can still change as other income changes.
An increasing budget
Set a positive inflation assumption. Spending rises annually, while each income source follows its own increase rate.
Flexible strategies
Percentage-of-balance withdrawals, guardrails, bucket strategies and asset-allocation changes are not modeled here. They require rules for changing withdrawals or investments.
Required minimum distributions are a separate calculation
RMDs may require withdrawals from certain retirement accounts even when you do not need the income. Eligibility, starting age and amounts depend on the applicable rules and your circumstances. This calculator does not determine RMDs. Check current IRS guidance or the Investor.gov RMD calculator when planning required distributions.
Allow separately for emergencies, healthcare, long-term care and other costs that a regular monthly target may miss. Revisit your assumptions when your spending, income or circumstances change.
Retirement withdrawal calculator FAQs
What does a retirement withdrawal calculator estimate?
It projects withdrawals and savings balances using your starting portfolio, spending, other income, investment-return assumption and planning period. This tool can test a monthly spending target or estimate a starting budget for a fixed period.
How much can I withdraw from retirement savings each month?
There is no single amount that fits every retirement. Use the monthly-budget mode to explore an estimate for your assumptions. Its budget includes other income; the separate portfolio-withdrawal figure shows the starting amount drawn from savings before the optional tax allowance.
Does this retirement withdrawal calculator include taxes?
It includes an optional, fixed tax allowance based on your effective rate and taxable-share estimate. It does not calculate a tax return or account-specific taxes. Without the allowance, a portfolio withdrawal is treated as fully available for spending. Enter other income after expected taxes in either mode.
Is a 4% withdrawal rate guaranteed to be safe?
No. A starting withdrawal rate is simply the first year's gross portfolio withdrawals divided by the modeled starting savings. Whether a plan can meet future spending depends on returns, inflation, taxes, time horizon and other factors. A 4% result here is not a guarantee or an endorsement.
Does it include Social Security or a pension that starts later?
Yes. Enter the net monthly payment when the source begins. In Advanced assumptions, set the number of years until it starts and its annual increase rate. A delay of zero means it is available from the beginning of retirement.
Why do the lower-return and higher-return results differ?
They use annual returns two percentage points below and above your base assumption. In duration mode the spending target is identical. In monthly-budget mode each return is used to estimate its own starting budget. These three paths do not represent a probability distribution.
Can I use it for Roth, IRA and 401(k) savings together?
You can enter a combined balance for a broad planning estimate, but the model does not track individual accounts or withdrawal order. The taxable-share setting is an approximation for each withdrawal. Qualified Roth distributions and traditional-account distributions may have different tax treatment; use current IRS guidance for your situation.
Are my financial inputs stored or sent to a server?
The calculator code runs locally in your browser and does not store your inputs or send them to a server. A downloaded CSV stays on your device. Your browser and any extensions or recording tools you use can have their own data practices.
