The calculator
Taking $45,000 a year ($3,750 a month) from $800,000, raised 2.0% a year for inflation, at a steady 5.0% return, the money runs out in year 25, around age 89. To make it last exactly 30 years, you could start at $39,348 a year.
Every balance from $100,000 to $5 million, at each yearly withdrawal, has its own page with the balance year by year and the odds in 1,000 simulated markets: how long savings last by balance and withdrawal. By the age you stop working: can I retire at my age with my savings.
How long will $1 million last in retirement?
Years a $1,000,000 portfolio lasts at a steady annual return, with the withdrawal raised 2.0% a year for inflation. At a 5% return, withdrawing $40,000 (4%) lasts about 44 years, $50,000 about 30 and $80,000 about 16. The same table works for $500,000 if you halve every withdrawal.
| Withdrawal a year | 4% return | 5% return | 6% return | 7% return |
|---|---|---|---|---|
| $40,000 | 34 years | 44 years | 60+ years | 60+ years |
| $50,000 | 26 years | 30 years | 37 years | 57 years |
| $60,000 | 20 years | 23 years | 26 years | 32 years |
| $70,000 | 17 years | 19 years | 21 years | 24 years |
| $80,000 | 15 years | 16 years | 17 years | 19 years |
| $100,000 | 11 years | 12 years | 13 years | 14 years |
How long will $500,000 last in retirement?
The same table for $500,000. At a 5% return with withdrawals rising 2.0% a year, $20,000 a year (4%) lasts about 44 years, $25,000 about 30 years and $40,000 about 16 years. Social Security or a pension lowers what the portfolio has to pay, so enter only the gap.
| Withdrawal a year | 4% return | 5% return | 6% return | 7% return |
|---|---|---|---|---|
| $20,000 | 34 years | 44 years | 60+ years | 60+ years |
| $25,000 | 26 years | 30 years | 37 years | 57 years |
| $30,000 | 20 years | 23 years | 26 years | 32 years |
| $35,000 | 17 years | 19 years | 21 years | 24 years |
| $40,000 | 15 years | 16 years | 17 years | 19 years |
| $50,000 | 11 years | 12 years | 13 years | 14 years |
How long will $250,000, $750,000, $1.5 million or $2 million last?
Years each balance lasts at a steady 5% return, by the amount withdrawn in the first year and raised 2.0% a year after that. Find your savings in the first column and your yearly spending from the portfolio across the top.
| Savings | $30,000 a year | $40,000 a year | $50,000 a year | $60,000 a year | $80,000 a year |
|---|---|---|---|---|---|
| $250,000 | 10 years | 7 years | 6 years | 5 years | 4 years |
| $500,000 | 23 years | 16 years | 12 years | 10 years | 7 years |
| $750,000 | 44 years | 27 years | 20 years | 16 years | 11 years |
| $1,000,000 | 60+ years | 44 years | 30 years | 23 years | 16 years |
| $1,500,000 | 60+ years | 60+ years | 60+ years | 44 years | 27 years |
| $2,000,000 | 60+ years | 60+ years | 60+ years | 60+ years | 44 years |
$250,000 paying $30,000 a year runs out in 10 years; $2 million paying $80,000 a year, the same 4% start as $1 million paying $40,000, lasts 44 years. What matters is the withdrawal as a share of savings, not the dollar amount.
How long will my 401(k) last?
A 401(k) or traditional IRA pays tax on every withdrawal, so it has to pay out more than you spend. Take a $600,000 401(k), $40,000 a year to spend, a 5% return and withdrawals rising 2.0% a year:
| Tax on withdrawals | Withdrawal needed | Money lasts |
|---|---|---|
| None (Roth) | $40,000 | 20 years |
| 12% average rate | $45,455 | 17 years |
| 22% average rate | $51,282 | 15 years |
Enter your expected average tax rate in the calculator's tax field to include it. Three 401(k) rules also change the answer. Withdrawals before 59½ usually cost a 10% penalty, unless you left the employer in or after the year you turned 55 (the rule of 55) or you take substantially equal periodic payments, which the 72(t) calculator sizes under each IRS method. Required minimum distributions start at 73 or 75 and can force out more than you spend, though you can reinvest what you do not need in a taxable account; the RMD calculator shows the amounts. And the 401(k) calculator projects the balance you will have at retirement in the first place.
If running out is the worry, an income annuity is the opposite trade: part of the balance buys a payment that lasts for life, at the cost of flexibility and of what you leave behind. The pension vs lump sum calculator compares a guaranteed income with keeping the money invested.
How long $1 million lasts in each state
The same lifestyle costs more in some states than others. The U.S. Bureau of Economic Analysis measures each state's price level against the national average, with housing costs the biggest driver. Take a retirement that costs $50,000 a year at average US prices, scale it to each state's 2024 price level, and draw it from $1,000,000 at a steady 5% return with spending rising 2.0% a year:
In Arkansas, the cheapest state, that lifestyle costs $43,450 a year and $1 million lasts 37 years. In California, the most expensive, it costs $55,350 and lasts 26 years.
Show all 50 states and DC
| State | Price level (US = 100) | Same lifestyle costs | $1 million lasts |
|---|---|---|---|
| Arkansas | 86.9 | $43,450 a year | 37 years |
| Mississippi | 87.0 | $43,500 a year | 37 years |
| Iowa | 87.8 | $43,900 a year | 37 years |
| Oklahoma | 87.8 | $43,900 a year | 37 years |
| Louisiana | 88.2 | $44,100 a year | 37 years |
| South Dakota | 88.6 | $44,300 a year | 36 years |
| Alabama | 88.8 | $44,400 a year | 36 years |
| North Dakota | 89.0 | $44,500 a year | 36 years |
| West Virginia | 89.5 | $44,750 a year | 36 years |
| Kansas | 90.1 | $45,050 a year | 35 years |
| Nebraska | 90.1 | $45,050 a year | 35 years |
| Kentucky | 90.2 | $45,100 a year | 35 years |
| Missouri | 90.8 | $45,400 a year | 35 years |
| Tennessee | 91.9 | $45,950 a year | 34 years |
| New Mexico | 92.2 | $46,100 a year | 34 years |
| Wyoming | 92.7 | $46,350 a year | 34 years |
| Ohio | 92.8 | $46,400 a year | 33 years |
| Indiana | 93.3 | $46,650 a year | 33 years |
| South Carolina | 93.7 | $46,850 a year | 33 years |
| Wisconsin | 94.1 | $47,050 a year | 33 years |
| North Carolina | 94.3 | $47,150 a year | 33 years |
| Montana | 94.6 | $47,300 a year | 32 years |
| Idaho | 95.5 | $47,750 a year | 32 years |
| Michigan | 96.2 | $48,100 a year | 32 years |
| Georgia | 96.3 | $48,150 a year | 32 years |
| Maine | 97.0 | $48,500 a year | 31 years |
| Texas | 97.1 | $48,550 a year | 31 years |
| Pennsylvania | 97.6 | $48,800 a year | 31 years |
| Vermont | 98.0 | $49,000 a year | 31 years |
| Minnesota | 98.6 | $49,300 a year | 30 years |
| Utah | 98.9 | $49,450 a year | 30 years |
| Delaware | 99.8 | $49,900 a year | 30 years |
| Illinois | 100.0 | $50,000 a year | 30 years |
| Nevada | 100.0 | $50,000 a year | 30 years |
| Arizona | 100.7 | $50,350 a year | 29 years |
| Virginia | 101.1 | $50,550 a year | 29 years |
| Rhode Island | 102.3 | $51,150 a year | 29 years |
| Alaska | 102.4 | $51,200 a year | 29 years |
| Colorado | 103.1 | $51,550 a year | 28 years |
| Florida | 103.4 | $51,700 a year | 28 years |
| Oregon | 103.4 | $51,700 a year | 28 years |
| Connecticut | 103.6 | $51,800 a year | 28 years |
| New Hampshire | 104.2 | $52,100 a year | 28 years |
| Maryland | 105.0 | $52,500 a year | 28 years |
| Massachusetts | 105.8 | $52,900 a year | 27 years |
| Washington | 107.0 | $53,500 a year | 27 years |
| New York | 107.9 | $53,950 a year | 27 years |
| New Jersey | 108.8 | $54,400 a year | 26 years |
| District of Columbia | 109.9 | $54,950 a year | 26 years |
| Hawaii | 110.0 | $55,000 a year | 26 years |
| California | 110.7 | $55,350 a year | 26 years |
Price levels include rent, so a retiree who owns a home outright will see smaller gaps between states. State income tax is not included. Source: U.S. Bureau of Economic Analysis, regional price parities by state, 2024 (February 2026).
How much can I withdraw from my savings?
Turned around, the question is how much you can take each year so the money lasts exactly as long as you need: how much can I spend in retirement? This is what a retirement withdrawal calculator answers: the first-year amount, raised with inflation every year, that spends the portfolio to zero at the end of the horizon. For $800,000 at 5.0% with 2.0% inflation:
| Must last | First-year withdrawal | Per month |
|---|---|---|
| 20 years | $51,953 | $4,329 |
| 25 years | $44,338 | $3,695 |
| 30 years | $39,348 | $3,279 |
| 35 years | $35,858 | $2,988 |
| 40 years | $33,302 | $2,775 |
Spending the balance to exactly zero leaves no margin for a bad decade or a long life. A rate you expect to hold indefinitely is the safe withdrawal rate calculator, and rules that cut spending after bad years are the Guyton-Klinger calculator and the Vanguard dynamic spending calculator.
How to make your money last longer
A handful of changes move the answer most. Here they are for $1,000,000 at a steady 5% return, with spending rising 2.0% a year for inflation. Spending $50,000 a year, the money lasts 30 years.
| Change | Money lasts |
|---|---|
| Spend $50,000 a year (the starting point) | 30 years |
| Spend $45,000 a year instead, 10% less | 35 years |
| Pay 0.5% a year less in fees (5.5% net return) | 33 years |
| Earn $20,000 a year part-time for the first 5 years | 34 years |
| Spend $60,000 and claim Social Security at 62 ($21,000 a year) | 46 years |
| Spend $60,000 and claim at 70 instead ($37,200 a year from year 9) | more than 60 years |
The Social Security rows assume a full benefit of $2,500 a month at 67. Claiming at 62 pays 70% of it; waiting until 70 pays 124%, and until then the portfolio carries the whole $60,000. The Social Security breakeven calculator shows the age at which waiting pays off, and the retirement income calculator adds Social Security, pensions and withdrawals into one monthly figure. Fees work like a lower return, and the investment fee calculator shows what they cost over decades. Part-time income in the first years is what the Barista FIRE calculator sizes. Spending rules that cut back after bad years, such as Guyton-Klinger guardrails, stretch the money further when markets fall early, which a steady return cannot show.
Year by year
| Year | Age | Withdrawal | Balance at year end |
|---|---|---|---|
| 1 | 65 | $45,000 | $792,750 |
| 5 | 69 | $48,709 | $749,809 |
| 10 | 74 | $53,779 | $657,523 |
| 15 | 79 | $59,377 | $508,573 |
| 20 | 84 | $65,557 | $284,061 |
| 25 | 89 | $33,836 | $0 |
Why the band exists
A 5% average with a 4% withdrawal can last forever on paper and still fail after a bad first decade. The band is 1,000 seeded paths around the return you typed, over the years it needs to last. The sequence of returns calculator shows why the first decade matters most. The Monte Carlo retirement calculator gives the success rate and the 10th, 50th and 90th percentile endings for a portfolio, withdrawal and horizon, and the live demo is the same idea on a full household.
Assumptions
Withdrawals at the start of each year, then the return. Spending and other income both rise with inflation, and monthly amounts are counted as twelve times the month. No fees, so use a return after fees. The tax rate is a flat rate on each withdrawal: the portfolio pays the spending gap divided by one minus the rate. Social Security and pension income are not taxed here, and qualified Roth withdrawals are tax-free, so use 0% for a Roth. Social Security or a pension is treated as starting now; if it starts later, the portfolio carries the full spend until then, as the table above shows.
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