Retirement Withdrawal Calculator
- Last Updated: Sunday, 18 November 2018
This retirement withdrawal calculator can help you figure out how much money you can withdraw from your retirement fund each month. Using your retirement age and funds at retirement, the calculator allows you to calculate a monthly income stream you can receive from this money. The calculator accommodates any pension income or Social Security you’ll receive. The calculator also allows you to evaluate your monthly retirement income using a scenario that leaves money in your estate.
The variables used in our online calculator are defined in detail below, including how to interpret the results.
Expected Retirement Age (Years)
This is the age at which you expect to retire.
Life Expectancy (Years)
This is your life expectancy when you reach your estimated retirement age. Many people mistakenly believe that life expectancies are in the range of 75 years of age. However, that figure applies only at birth. For example, at age 65, the average life expectancy is 83 years of age.
Funds at Expected Retirement Age ($)
This is the total of all funds you will have at retirement. This includes money you might have invested in Roth IRAs, traditional IRAs, 403(b), and 401(k) plans.
Retirement Funds Left in Estate ($)
This calculator allows you to figure out your monthly income from your funds in several ways. For example, by entering zero here, you will deplete your funds at your life expectancy age. However, if you’d like to leave some money in your estate, then you can enter that value here. As long as your expected annual return on investment is greater than zero, you may be able to leave more money in your estate then you had at retirement age.
Expected Annual Return on Fund (%)
This is the annual rate of return you expect to realize on your retirement funds between retirement age and your life expectancy age.
Monthly Pension ($ / Month)
If you’re eligible for a pension through your workplace, then enter the amount of income your pension will produce each month.
Social Security ($ / Month)
If you’re eligible for Social Security, then enter the amount of monthly income you’ll receive from Social Security each month. Typical Social Security benefits are in the range of $1,100 to $2,800 per month.
Income from Retirement Funds ($ / Month)
This is the monthly income you can receive from all your retirement funds, based on the assumptions you’ve used in this retirement calculator.
Income from Pensions / Social Security ($ / Month)
This is the monthly retirement income you will receive from your pension and / or Social Security.
Monthly Income in Retirement ($/ Month)
This is the total monthly income you can expect to withdraw in retirement, based on all of the assumptions used in the calculator
Annual Income in Retirement ($ / Year)
This is your monthly retirement income converted to an annual income value.
Retirement Withdrawal Calculator
Disclaimer: These online calculators are made available and meant to be used as a screening tool for the investor. The accuracy of these calculations is not guaranteed nor is its applicability to your individual circumstances. You should always obtain personal advice from qualified professionals.