Savings Withdrawal Calculator
Planning to live off your savings? Our calculator helps you determine how long your savings will last with regular withdrawals. You can also calculate an estimated monthly withdrawal amount to make your savings last for a specific time period.
How to use this calculator
The calculator offers two ways to plan your savings withdrawals. To use this calculator, enter:
- Your current savings amount
- The expected annual interest rate
- Your desired monthly withdrawal
- How long you need the money to last
The calculator will then show you how many years your savings will last at your desired monthly withdrawal rate, in addition to the amount you can safely withdraw each month.
What could affect your withdrawal strategy
Interest rates play an important role in how long your savings will last. High-yield savings accounts and certificates of deposit (CDs) offer competitive rates that often beat what you’ll find at traditional banks. Higher interest earnings can significantly extend how long your savings last.
The frequency of withdrawals affects your savings longevity. Monthly withdrawals are most common, but taking larger quarterly or annual withdrawals might help you better manage expenses while allowing more of your money to earn interest.
Inflation can impact your purchasing power over time. Consider increasing your withdrawal amount annually to maintain your standard of living, though this will reduce how long your savings last.
