Savings & retirement planning
How Long Will My Money Last Calculator?
Use this How Long Will My Money Last Calculator to estimate how long your savings or retirement funds may last when you make regular withdrawals. Enter your starting balance, monthly spending, expected investment return, and an optional inflation rate to explore your results. Compare different assumptions to see how changes in spending or investment growth may affect your savings over time.
Your savings plan
Enter a few details to estimate how long your money may last.
The amount currently available to fund your withdrawals.
This can represent inflation-related increases in spending. Set it to 0% to keep withdrawals level.
More assumptions
A simple way to get started
How to Use the How Long Will My Money Last Calculator
You can estimate how long your savings may support your spending in just a few steps. Start with your current savings and the amount you expect to withdraw, then adjust the return and inflation assumptions to explore different outcomes.
Enter Your Savings
Enter the amount you have saved for retirement or another long-term goal. Use the balance you expect to draw from, rather than including assets you do not plan to use for these expenses.
Set Your Withdrawals
Add the amount you expect to spend each month from your savings. Consider regular living costs, housing, healthcare, and other expenses that may affect how much you need to withdraw.
Adjust and Compare
Enter an estimated annual investment return and choose an annual withdrawal increase. Select your additional assumptions, then review the projected time to depletion and estimated remaining balance.
Planning tip: Try more than one scenario
Your result depends on the assumptions you choose. Compare a lower-return scenario with a higher-spending scenario to understand how sensitive your savings plan may be. If you are also planning federal retirement income, you can explore our FERS Federal Employee Retirement Calculator for a separate estimate of your potential retirement benefit.
What Affects How Long Your Money Will Last?
The answer depends on more than your starting savings balance. Your withdrawal amount, investment returns, inflation, and the timing of your withdrawals can all affect how long your money may support your financial needs.
Your Starting Savings
Your initial balance sets the foundation for your estimate. A larger savings balance may provide more flexibility, while a smaller balance may require lower withdrawals or a shorter spending timeline.
Monthly Withdrawals
The amount you take out each month is one of the most important factors. Higher withdrawals generally use up savings faster. Reviewing essential expenses and discretionary spending can help you test a more sustainable budget.
Investment Returns
Money that remains invested may earn returns, potentially helping your savings last longer. However, actual returns vary and can be negative. A steady return in this calculator is an assumption, not a prediction of market performance.
Inflation and Rising Expenses
Inflation reduces purchasing power over time. If your monthly spending increases each year, you may need to withdraw more in the future to cover the same expenses. Testing different annual increases can help you understand this effect.
Why it helps to compare scenarios
A single estimate cannot capture every possible financial outcome. Try different withdrawal amounts, lower-return assumptions, and higher annual spending increases. Comparing these scenarios can help you understand potential risks and make more informed plans for your savings or retirement income.
How Is the Money-Lasting Estimate Calculated?
The calculator estimates how your savings may change as you withdraw money over time. It considers your starting balance, planned withdrawals, assumed investment return, and any annual increase you select for withdrawals.
Start With Your Current Balance
The calculation begins with the amount of money you currently have saved or invested. This is the starting point for estimating how long your funds could support your planned spending.
Subtract Your Planned Withdrawals
Your monthly withdrawal is deducted from the available balance according to the selected withdrawal timing. Taking money out at the beginning of a period can produce a different estimate from withdrawing at the end.
Apply the Assumed Investment Return
The calculator applies your selected annual return as an estimated monthly rate to the remaining balance. This simplified approach helps illustrate the potential effect of investment growth, but real-world returns fluctuate.
Increase Withdrawals if Selected
If you choose an annual withdrawal increase, the calculator raises your planned withdrawals over time. This can help you explore how rising expenses may affect the longevity of your savings.
Estimate When the Balance Runs Out
The calculation repeats across monthly periods until the balance reaches zero or the simulation limit is reached. The results show an estimate of how long the money may last and the projected balance at your selected comparison horizon.
Simplified monthly calculation
Ending balance = Starting balance + investment growth − withdrawal
This is a simplified explanation of the monthly calculation. The actual result also depends on withdrawal timing, the assumed monthly return, and any scheduled increase in withdrawals.
Important: This calculator provides estimates for educational and planning purposes only. It does not account for every factor that can affect your finances, such as taxes, investment fees, market volatility, or unexpected expenses. Actual results may differ significantly from the projection.
How Long Will My Money Last? FAQs
Get answers to common questions about estimating how long savings may last, planning retirement withdrawals, and understanding the factors that affect your financial timeline.
How do I calculate how long my money will last?
Enter your starting savings balance, planned monthly withdrawal, expected annual investment return, and any annual increase in withdrawals. The How Long Will My Money Last Calculator estimates how your balance may change over time under those assumptions.
For a more useful estimate, test several scenarios rather than relying on a single return or spending assumption.
How long will $500,000 last with monthly withdrawals?
It depends on how much you withdraw, whether your money earns a return, and whether your expenses increase. For example, withdrawing $2,500 per month from $500,000 equals $30,000 in withdrawals during the first year, before considering investment returns or changes in spending.
Enter your own assumptions in the calculator above to estimate a timeline. This example is not a guarantee of how long the money will last.
How long will $1 million last in retirement?
A $1 million retirement portfolio could last for very different periods depending on your annual spending, investment performance, inflation, taxes, and other sources of income. A household withdrawing $40,000 per year has a different starting withdrawal rate from one withdrawing $70,000.
Use the calculator to compare monthly spending levels and explore how different assumptions affect your estimated savings longevity.
Does the calculator include investment returns?
Yes. You can enter an assumed annual investment return to estimate how growth may affect your remaining balance. Actual investment returns can fluctuate, including periods of losses, so the result should be treated as a projection rather than a prediction.
How does inflation affect how long savings last?
Inflation can increase the amount you need to spend over time because goods and services may become more expensive. If your withdrawals rise each year, your savings may be depleted sooner than they would be with a fixed withdrawal amount, all else being equal.
Use the annual withdrawal increase setting to explore how rising expenses could affect your estimate.
Should I include Social Security or pension income?
Consider your reliable income sources when deciding how much you need to withdraw from savings. Social Security, pensions, and other income may reduce the amount you need to take from your portfolio. This calculator estimates the balance based on the withdrawals you enter, so account for outside income when choosing that amount.
Is this calculator accurate enough for retirement planning?
It can help with initial estimates and scenario comparisons, but it cannot predict your actual financial future. Market volatility, taxes, fees, unexpected expenses, and changes in spending can affect the result.
Use the estimate as a planning aid, review your assumptions regularly, and consider qualified financial advice for decisions that could significantly affect your retirement.
What withdrawal amount should I use?
Start with the amount you expect to take from savings each month after accounting for other income and the expenses your savings must cover. Separate essential costs from discretionary spending where possible, then test higher withdrawal amounts to understand how much flexibility you may have.
No single withdrawal amount is suitable for everyone; your circumstances, time horizon, and tolerance for risk matter.
Build a More Informed Savings Plan
Estimating how long your money will last is one part of a broader financial plan. Review your spending needs, consider how inflation could affect future expenses, and compare different savings scenarios before making important retirement decisions.
Explore More Financial Calculators
Continue planning with practical online financial tools for different money questions. Visit the Ghaline tools directory to discover calculators that may help you evaluate your savings and financial goals.
Explore All Financial ToolsPlan for Federal Employee Retirement
If you are a U.S. federal employee, retirement planning may involve estimating your pension alongside your savings and other retirement income. Use the FERS calculator to explore estimates related to federal employee retirement benefits.
Try the FERS Retirement CalculatorUse estimates as a starting point, revisit your assumptions as circumstances change, and seek qualified professional advice when needed. Return to Ghaline Home.