How Long Will My Retirement Savings Last?
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.