Open a calculator
Retirement & Planning

Retirement Plan Withdrawal Calculator

Use this calculator to see what your net withdrawal would be after taxes and penalties are taken into account.

Inputs
$
%

Estimates only. Adjust any value to recalculate instantly.

Results
Amount you keep $26,400 from a $40,000 withdrawal
Gross withdrawal $40,000
Income tax $9,600
Early-withdrawal penalty $4,000
Net to you $26,400
Withdrawal after tax & penalty
Withdrawal after tax & penalty You keep: $26kTax: $9.6kPenalty: $4.0k
  • You keep $26k
  • Tax $9.6k
  • Penalty $4.0k

Withdrawing $40,000 before age 59½ generally costs income tax plus a 10% penalty, leaving just $26,400. After 59½ the penalty disappears. Always check for exceptions and consider a loan or other source first.

How the retirement plan withdrawal calculator works

It subtracts income tax and, if you are under 59½, a 10% early-withdrawal penalty from your withdrawal to show the cash you actually keep.

Worked example

Worked example: with withdrawal amount of $40,000, your age of 45 and marginal tax rate of 24.00%, the retirement plan withdrawal calculator shows amount you keep of $26,400.

Gross withdrawal
$40,000
Income tax
$9,600
Early-withdrawal penalty
$4,000
Net to you
$26,400

The formula

Net = amount − (amount × tax rate) − (under 59½ ? amount × 10% : 0).

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

Embed this calculator — free Get the code

Add the live retirement plan withdrawal calculator to your own site. Free to use — just keep the credit link. It resizes itself automatically.

By embedding you agree to keep the visible attribution link to FinCalculators.net. See all embeddable calculators →

Frequently asked

Questions about the retirement plan withdrawal calculator

How much will I keep from a retirement withdrawal?

After income tax and, if under 59½, a 10% penalty, often little more than half on pre-tax accounts. The calculator shows your net for any amount and age.

When does the early-withdrawal penalty apply?

Generally on withdrawals from traditional retirement accounts before age 59½, with exceptions for certain hardships, first homes, education and medical costs. Income tax still applies.

Should I withdraw early?

Only as a last resort — the tax, penalty and lost growth are steep. Consider a loan, other savings, or a 72(t) SEPP for penalty-free income first.

Is the Retirement Plan Withdrawal 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.

Related calculators
401(k) Calculator A 401(k) can be one of your best tools for creating a secure retirement. Use this calculator to see why this is a retirement savings plan you cannot afford to pass up. 401(k) Contribution Effects on Your Paycheck Calculator Use this calculator to see how increasing your contributions to a 401(k) plan can affect your paycheck as well as your retirement. 401(k) Savings with Profit Sharing Use this calculator to show how a 401(k) with profit sharing plan can help you save for retirement.. 401(k) Spend It or Save It Calculator There are several ways to manage your 401(k) when you leave an employer. Making the wrong decision can cost you thousands of dollars both in taxes and lost earnings. 403(b) Savings Calculator If you are an employee of a non-profit tax-exempt organization, a 403(b) can be one of your best tools for creating a secure retirement. 457 Plan Contribution Effects on Your Paycheck Calculator Use this calculator to see how increasing your contributions to a 457 plan can affect your paycheck as well as your retirement.