Money-Zine.com: By plugging in seven numerical fields, this basic retirement withdrawal calculator can give you an estimate of how much money you'll need based on your projected life expectancy. At the end, the calculator summarizes your results for an at-a-glance peek at what you may be looking at.
Here's how it works: If you begin your first year of retirement by withdrawing 4 percent of your savings and making subsequent annual adjustments for inflation (and continue withdrawing 4 percent each year thereafter), your money should last approximately 30 years.
Will my money run out in retirement? Think about all your sources of income, including pensions, 401k, social security, annuities, and other investments. This calculator estimates how long savings will last based on a certain spending amount and investment return.
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Once you’ve worked out when you plan to retire, you can begin to reliably calculate how long your money will last you and your spouse. However, don’t forget to take into account inflation and its various long-term effects. This is because inflation effectively shrinks your retirement savings without actually doing so.
The “How long will my money last?” question is a common one that doesn’t have a simple answer. It’s pretty typical to think, “I have, say, $1 million saved, and since I generally spend X number of dollars a month (or year), my money will last “this” long.
Use this calculator to see how long your retirement savings will last based on your retirement savings and your inflation adjusted withdrawals. Individual 401(k) Contribution Comparison: Use this calculator to determine your maximum Individual 401(k) contribution as compared to three other possible plan options. Individual 401(k) Savings Calculator
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Learn how long your money may last and what to expect for your retirement years with Better Money Habits. ... just 4 in 10 have tried to calculate the actual amount they will need. Check out one of the many retirement readiness calculators online, which can help you to eliminate guesswork.
Use the How much will my savings grow? calculator to estimate what your account balance will be when you are ready to retire. Ready to retire now? Log into My Account to find your current account balance, or call the ThriftLine at 1-877-968-3778 .