How Long Will My Retirement Savings Last?
9/20/2020
Whether you’ve recently retired or just begun saving for retirement, you can use our calculator to estimate how long your savings may last. While there’s not an exact formula for predicting how long your savings will last, variables like inflation, investment returns, and unexpected expenses can dramatically affect how quickly your savings deplete.
However, there’s still value in coming up with an estimate. The key components are your total savings, your monthly spending, and additional monthly income such as a pension or social security. Additional factors to input include the rate of inflation, marginal tax rate, and rate of return. Try our calculator below to get your estimate.
A calculator like the one above can be helpful when planning for retirement, but the numbers they produce might seem very daunting. There are ways to elongate the life of your savings account, especially if you’re strategic with budgeting and withdrawal strategies.
For advice and guidance on retirement, income, investments and more, reach out to your local Financial Consultant or call (800) 382-0564.
However, there’s still value in coming up with an estimate. The key components are your total savings, your monthly spending, and additional monthly income such as a pension or social security. Additional factors to input include the rate of inflation, marginal tax rate, and rate of return. Try our calculator below to get your estimate.
A calculator like the one above can be helpful when planning for retirement, but the numbers they produce might seem very daunting. There are ways to elongate the life of your savings account, especially if you’re strategic with budgeting and withdrawal strategies.
For advice and guidance on retirement, income, investments and more, reach out to your local Financial Consultant or call (800) 382-0564.
