Financial Calculator

How Long Will My Savings Last in Retirement?

With increased longevity and medical advancements, many retirees are concerned about the possibility of outliving their savings.

Our savings in retirement calculator can help determine how long your total income (retirement savings, Social Security payments, company or private pension, investments, and other supplementary income) will last during retirement.

I'm retired, how long will my savings last?

Savings In Retirement Calculator

We're here to help you better understand your total income and expenses in retirement.

SAVINGS IN RETIREMENT

Income Needs
Social Security
Pension
Other Income
Savings

Step of 5

What are your retirement income needs?

Before taxes, how much income do you need monthly?

Please only enter numbers.

On average, how much do your income needs increase annually?

Please enter a number 0 - 10.

0% 10%

Looking at Social Security.

What is your current monthly Social Security income?

Please enter a valid dollar amount.

What is your average annual increase in Social Security income?

Please enter a number 0 - 10.

0% 10%

Let's talk about pensions.

What is your current monthly pension income?

Please only enter numbers.

What is your average annual increase in pension income?

Please enter a number 0 - 10

0% 10%

Do you have other income?

How much additional income do you receive monthly?

Please enter only numbers.

How much do you expect your other income to increase annually?

Please enter a number 0 - 10.

0% 10%

Let's talk about your savings.

What is your current savings account balance?

Please enter only numbers.

What is your annual hypothetical before-tax return percentage?

Please enter a number 0 - 12

-12% 12%

The results are hypothetical based on your input. Your actual results will vary. Any rates of return used are for illustrative purposes only and does not represent performance of any actual financial vehicle/strategies.

Make your savings last

One way to make your savings last longer is to reduce your fixed expenses. For many people, their largest expense is their mortgage. Consider downsizing to reduce mortgage and property tax costs. Smaller homes also mean lower costs for utilities and insurance.
Manage sequence of returns risk

Financial professionals recommend that recent retirees should withdraw no more than 4% of their portfolio in the first few years of retirement to avoid what is known as "sequence of returns risk". Studies show that the order of market returns matters greatly, and the first few years of retirement are critical. If you experience a down market or are forced to make large withdrawals early in your retirement, you increase the odds of failure.
Needs vs. Wants

Understand the difference between what you absolutely need to pay for—food, housing, healthcare—and more discretionary “wants”—like vacations, cars, and eating out. Most people’s incomes will drop in retirement, and you may have to reassess your expectations and habits to ensure that you won’t run out of money.