Personal Finance: Personal Finance from Zero: Budget, Save, Borrow & Invest Explore on Udemy Ad

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.

%
Years
Months
If you withdraw $500 monthly your savings will last
23 years
and
2 months
Monthly withdrawal you can make if savings are to last 25 years
$ 474.21

How the Savings Withdrawal Calculator Works

This calculator helps you determine how long your savings will last with regular withdrawals, or how much you can withdraw each month to make your savings last a specific period. It uses the annuity formula and considers your initial savings, interest rate, and withdrawal amount or duration.

Formula

The calculator uses the following formulas:

  • To calculate how long savings will last:
    n = -ln(1 - rP/W) / ln(1 + r)
  • To calculate max monthly withdrawal:
    W = rP / (1 - (1 + r)-n)
  • Where:
    P = initial savings, r = monthly interest rate, W = monthly withdrawal, n = number of months