Savings Withdrawal Calculator
What Is a Savings Withdrawal Calculator Used For?
A withdrawal calculator shows how long your savings will last when you make regular, periodic withdrawals. It can also calculate how much you can withdraw so the withdrawals last for the selected time period.
The Savings Withdrawal Calculator calculates withdrawals and creates a withdrawal schedule based on the inputs you provide.
A withdrawal savings calculator that optionally solves for:
- Withdrawal amount
- Starting amount
- Interest rate
- Duration
Creates a printable withdrawal schedule.
Provide at least three of the following inputs to begin. You may set one input to zero to indicate an unknown value:
- Savings on Hand (PV) — The amount of savings currently in your account.
- Regular Withdrawal Amount — The amount you plan to withdraw on a regular basis.
- Number of Withdrawals — The total number of withdrawals you plan to make.
- Annual Interest Rate — The annual interest rate for your savings account.
In addition to these primary inputs, also provide the following secondary inputs:
- Today’s Date — The date on which your “Savings on Hand” equals the amount shown above.
- First Withdrawal Date — The date of your first withdrawal.
- Withdrawal Frequency — How often you plan to make withdrawals (for example, monthly, quarterly, or annually).
- Compounding Frequency — How often interest is compounded on your account.
More below…
The Calculator-Calculate Time or Amount to Deplete Savings
Information
Quickly
Pick a Date
After you enter at least three primary inputs and all secondary inputs, click the “Calc” button to calculate the unknown value, if any. Or click “Withdrawal Schedule” to view your personalized schedule. The withdrawal schedule shows the amount of each withdrawal and the date on which it will occur. The charts provide a visual view of your savings over time and the depletion of the initial balance.
If you need to change any inputs, update the relevant fields and click “Calc” again.
A withdrawal savings calculator can help you make informed financial decisions. By understanding how much you can withdraw each year, you can plan for retirement and other financial goals with greater confidence. You can also adjust your savings and withdrawal strategies as needed to stay on track.
There are several important considerations when using a withdrawal savings calculator. First, the results are based on assumptions about investment returns and withdrawal periods. These assumptions may change over time. Review your strategies regularly to confirm that they still align with your goals.
Second, the calculator assumes that you withdraw the same amount each year, adjusted for inflation. In practice, your needs and lifestyle may change. Be prepared to adjust withdrawals when necessary.
Finally, the calculator does not include other income sources such as Social Security or pensions. These sources can significantly affect your withdrawal strategy, so include them in your overall financial plan.
We hope you find this calculator helpful for planning savings withdrawals. If you have questions or feedback, please submit them below.
Withdrawal Savings Calculator Help
The savings withdrawal calculator is flexible. It is most often used to calculate how long an investment will last when you make periodic, regular withdrawals. It can also solve for the “Starting Amount”, “Annual Interest Rate”, or “Regular Withdrawal Amount” when you want to set the payout duration. For example, if the withdrawals must last 25 years, the calculator can compute any one of these three values.
Enter any three values, and enter “0” for the unknown value.
A note about “Compounding Frequency”. Selecting the “Exact/Simple” option turns off compounding. The calculator uses the exact number of days between withdrawal dates to calculate interest for each period. The “Daily” option also uses the exact number of days, but it assumes daily compounding (interest earned each day is added to principal each day). The “Exact/Simple” setting is the most conservative option because it produces the lowest future value. Daily compounding produces nearly the highest future value (except for “Continuous Compounding”).
The other compounding frequencies use periods that are not based on days. Each period is assumed to be of equal length for interest calculations. For example, with a balance of $10,000, the interest for January will be the same as the interest for February, assuming the same interest rate.
Nicolas says:
hello! So I am not sure on how to use it. Here is the situation to solve.
for example, I have 10.000 of savings. Let’s say anual interest is 4%. I would like to know the final amount of money I would have after 60 months, with the same anual interest but making a withdrawal of 20 every month for those 60 months. Is that possible with this calculator? Let me know please what to enter and in which cell. Please
Best regards
Nicolas
Karl says:
Since you have no unknown values and you want to know the balance at the end of 60 months, just input what you told me, and click on the "Withdrawal Schedule." Enter the 10,000 in "Savings on Hand."
Nicolas says:
Hello! I find this calculator very helpful but it is kind of not working, I keep getting the NaN on the interest and net change column.
Karl says:
Oh, that’s not good. NaN stands for not a number. I just started to see that this past weekend and I think I know what the reason is. I should have it fixed in a week (+/-) if I’m right.
Just in case it’s something else, can you tell me your inputs?
What I think is happening is there’s a problem when the last withdrawal is in January (that was the issue with the Investment Calculator). If that’s the case, you can try to shift your calculation by one month in either direction. The numbers will be accurate, just off by 1 month.
Karl says:
I’m able to duplicate the problem, so I don’t need an example. For me, it works just fine if I make the dates exactly a month apart. But I will get a fix out in the next few days to a week, I hope.
Nicolás says:
Thanks!! Yeah well, in my case I was setting it as todays date and first withdrawal April 1st. Interest at 10% monthly withdrawals and compounding during 18 months. $10,000 savings in hand and 300 withdrawals. I hope you can fix it :).
Oh and it didn’t calculate the amount of months asked to. It just did 2.
Best regards
Karl says:
Nicolas, I released a fix this morning, so all should be good now.
If you do not see the change right away, you may have to perform a hard refresh of the page:
Depending on your operating system all you need to do is the following key combination:
Above, from Refresh Your Cache.
If you don’t mind, please confirm. If there are still problems, I will certainly work on them until they are resolved.
Nicolás says:
Thanks you very much for your help. I can now confirm it is working like a charm!!
Best regards
Nicolás.
Karl says:
Great! Thanks for letting me know.
Tse says:
Hi Karl, this is amazing. Thank you!
Are there any financial withdrawal calculators (or perhaps you will develop one) that will allow for annual Cost of Living Adjustments (eg, 2 to 4%)?
Thanks again for this fantastic public service!
Karl says:
Thank you for your nice words!
Yes, there is.
Please see this investment calculator. Set the "cash flow type" to "income" for what you want.
Mary says:
This is good but what about inflation?
Karl says:
Thank you.
You are right. Please use this (newer) Investment Calculator and set the cash flow type to "income."
You’ll see under optional settings that you can enter an "Annual Inflation Rate."
RR says:
love your calculator. i have used it a lot!
the only thing i cant figure out is the chart button
it just draws a line from beginning balance to zero in the first month yikes! that is a short retirement.
everything else works great
Karl says:
That sure is a short retirement. I’m not sure what is going wrong. I’ll take a look into it this coming week and I’ll let you know my findings.
Karl says:
The charts are fixed for the withdrawal calculator.
Thank you for taking the time to report the bug.
RR says:
Thank YOU!!! 🙂
rr says:
Karl,
just happened to read the description below the calculator. it says “regular withdrawal
adjusted for inflation” i dont think this
calculator takes inflation into account.
or am i missing something?
Karl says:
You are correct. I’ll need to add “not.”
And by the way, should you want to adjust the withdrawal for inflation, you can do that with this investment calculator. Set it to "Income."
rr says:
just fyi… the calc isn’t working. says: “i.i18n.__ is not a function” was working a day or so ago.
Karl says:
I can’t duplicate the error. When do you see it please? When the page loads, or when you click on the calc button perhaps.
I did make a change earlier in the day to make the printout darker. Perhaps if you do a hard refresh, that will fix the problem for you? Here are some details:
If you do not see the change right away, you may have to perform a hard refresh of the page:
Depending on your operating system all you need to do is the following key combination:
Above, from Refresh Your Cache.