Worried about outliving your retirement savings? Our free retirement savings calculator helps you determine how long your retirement fund will last based on your income, expenses, and savings.
Whether you’re planning for retirement or already retired, this retirement savings calculator shows you exactly how many years your money will sustain you. Simply enter your current savings, monthly income, monthly expenses, expected interest rate, and inflation rate to see a realistic projection of your financial runway.
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This calculator assumes that you have a current retirement savings, monthly income, and expenses. If none of these are true, you can enter zero. You can also use a hypothetical retirement savings amount to look at various scenarios to see how much you need to save for the future.
This is an “how long will my retirement savings last calculator” that will help you figure out both how long your existing savings will last and how much you NEED to save or alter your income/expense to last throughout your retirement.
Calculator Inputs:
Retirement Savings Amount: This is the current amount you have saved for retirement, or the amount you HOPE to have saved by retirement age
Annual Interest Rate: This is your average yearly return rate. The calculator will compound interest monthly.
Monthly Income: Enter your monthly income you expect to have at the time you start pulling from the retirement account.
Monthly Expenses: Enter your total expected monthly expenses that you will withdraw.
Average Inflation Amount: This is an average of how much your expenses will increase each year. You can look up the average inflation % for the past few years to get an idea.
Retirement Savings Calculator
How long will my retirement savings last?
Pensions, Social Security, etc.
Rent, Food, Utilities, Travel
Projection Summary
Your savings are estimated to last 0 years.
| Year | Year-End Balance | Monthly Net Flow |
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Disclaimer: This calculation assumes interest is compounded monthly and inflation is applied annually to both income and expenses. Real-world results vary. Consult a professional financial advisor.
Retirement Savings Calculator Example
Let’s use the retirement savings calculator to see how long retirement savings might last.
Assume:
- Current retirement savings: $500,000
- Monthly income: $2,000 (Social Security)
- Monthly expenses: $4,000
- Annual interest rate: 5%
- Average annual inflation rate: 3%
Starting scenario:
- Monthly shortfall: $4,000 – $2,000 = $2,000 (withdrawing from savings)
- Savings earning 5% annually while withdrawing
- Expenses increasing 3% per year due to inflation
Using the retirement savings calculator, your $500,000 would last approximately 28 years under these conditions. The exact duration depends on how interest earnings partially offset withdrawals and how inflation increases your expenses over time.
This example demonstrates why it’s critical to balance your expenses with income and investment returns. With our retirement savings calculator, you can instantly adjust these variables to find scenarios that make your retirement savings last throughout your retirement years, giving you confidence in your financial planning.
