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Retirement & Planning

Retirement Income Calculator

Use this calculator to determine how much monthly income your retirement savings may provide you in your retirement.

Inputs
$
%
$

Estimates only. Adjust any value to recalculate instantly.

Results
Sustainable annual income $75,535 $6,294.57/month for 30 years
Income from savings $51,535
Other income $24,000
Total annual income $75,535
Initial withdrawal rate 6.4%
Sources of retirement income
Sources of retirement income From your savings: $52kOther income: $24k
  • From your savings $52k
  • Other income $24k
Savings balance Balance
Savings balance: Balance $788k$591k$394k$197k$0 Yr 1Yr 6Yr 11Yr 16Yr 21Yr 26

Your $800,000 can provide about $51,535 a year for 30 years while still earning 5.00%, and with other income you reach $75,535. This draws the balance to zero by the end — leaving a cushion is safer.

Savings drawdown by yearView table
YearIncome drawnEarningsBalance
1$51,535$40,000$788,465
2$51,535$39,423$776,354
3$51,535$38,818$763,636
4$51,535$38,182$750,283
5$51,535$37,514$736,263
6$51,535$36,813$721,541
7$51,535$36,077$706,083
8$51,535$35,304$689,852
9$51,535$34,493$672,810
10$51,535$33,640$654,916
11$51,535$32,746$636,126
12$51,535$31,806$616,398
13$51,535$30,820$595,683
14$51,535$29,784$573,932
15$51,535$28,697$551,094
16$51,535$27,555$527,114
17$51,535$26,356$501,935
18$51,535$25,097$475,496
19$51,535$23,775$447,736
20$51,535$22,387$418,588
21$51,535$20,929$387,983
22$51,535$19,399$355,847
23$51,535$17,792$322,105
24$51,535$16,105$286,675
25$51,535$14,334$249,474
26$51,535$12,474$210,413
27$51,535$10,521$169,398
28$51,535$8,470$126,333
29$51,535$6,317$81,115
30$51,535$4,056$33,636

How the retirement income calculator works

It treats your retirement savings as the present value of an income stream and solves for the level annual withdrawal it can fund over your retirement years, then adds other income like Social Security.

Worked example

Worked example: with savings at retirement of $800,000, years in retirement of 30 and return during retirement of 5.00%, the retirement income calculator shows sustainable annual income of $75,535.

Income from savings
$51,535
Other income
$24,000
Total annual income
$75,535
Initial withdrawal rate
6.4%

The formula

Income from savings = balance annuitized over the retirement months at the retirement return; total = that plus other income.

Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.

Frequently asked

Questions about the retirement income calculator

How much income will my savings provide?

It depends on the balance, your expected return, and how long it must last. The calculator finds the sustainable annual withdrawal, then adds Social Security or pension income.

What withdrawal rate is safe?

A common guideline is about 4% of the starting balance a year. The calculator shows your implied rate; much above 4% risks running out, much below leaves money unspent.

Does this account for inflation?

It provides a level income. To preserve buying power, plan to increase withdrawals over time, which requires a larger nest egg or a higher return.

Is the Retirement Income Calculator free to use?

Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.

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