# Savings Withdrawal Calculator

The *Savings Withdrawal Calculator* will help you calculate your savings withdrawals and generate a withdrawal schedule based on the inputs you provide.

Please provide at least three of the following inputs to get started. You may set one to zero to indicate an unknown value:

**Savings on Hand (PV)**- This is the amount of savings you currently have in your account.**Regular Withdrawal Amount**- This is the amount you plan to withdraw on a regular basis.**Number of Withdrawals**- This is the total number of withdrawals you plan to make.**Annual Interest Rate**- This is the annual interest rate for your savings account.

In addition to these above inputs, you will also need to provide the following secondary inputs:

**Today's Date**- This is the date you expect your "Savings on Hand" to be the amount indicated above.**First Withdrawal Date**- This is the date of your first withdrawal.**Withdrawal Frequency**- This is how often you plan to make withdrawals (e.g., monthly, quarterly, annually).**Compounding Frequency**- This is how often interest is compounded on your investment account.

More below

### Information

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Once you have entered at least three primary inputs and the secondary inputs, click the "Calc" button to calculate the unknown value (if any) or the "Withdrawal Schedule" to see your personalized schedule. The withdrawal schedule will show you the amount of each withdrawal and the date on which it will be made. The charts will provide a visual representation of your savings over time and the depletion of the initial investment.

If you need to make any changes to your inputs, simply update the relevant fields and click "Calc" again.

A withdrawal savings calculator can help you make informed decisions about your financial future. By understanding how much you can safely withdraw each year, you can plan your retirement or other financial goals with greater confidence. You'll also be able to adjust your savings and withdrawal strategies as needed to ensure that you're on track to meet your goals.

There are a few key factors to keep in mind when using a withdrawal savings calculator. First, the calculator's results are based on certain assumptions about your investment returns and withdrawal periods. These assumptions may not hold true in the future, so it's important to review your savings and withdrawal strategies regularly to ensure that they're still on track.

Second, the calculator assumes that you'll withdraw the same amount of money each year, adjusted for inflation. In reality, your financial needs and lifestyle may change over time, so it's important to be flexible and adjust your withdrawals as needed.

Finally, the calculator does not consider other income sources, such as Social Security or pensions. These sources of income can significantly impact your withdrawal strategies, so it's important to factor them into your overall financial plan.

Hopefully, you'll find this calculator helpful in planning your savings withdrawals. If you have any questions or feedback, please do not hesitate to ask them below.

You will find the savings withdrawal calculator to be very flexible. While it is most frequently used to calculate how long an investment will last assuming some periodic, regular withdrawal amount, it will also solve for the " Starting Amount", "Annual Interest Rate" or "Regular Withdrawal Amount" required if you want to dictate the duration of the payout. That is, if the withdrawals must last for say 25 years, it will calculate one of these other three values.

Enter any three values and enter a "0" (zero) for the one unknown value.

A note or two about "Compounding Frequency". Selecting he "Exact/Simple" option sets the calculator so it will not compound the interest. Also, the exact number of days between withdrawal dates is used to calculate the interest for the period. The "Daily" option uses the exact number of days between dates, but daily compounding is assumed. (The interest earned each day is added to the principal amount each day.) The "Exact/Simple" compounding option is the most conservative setting. That is, using it will result in the lowest future value. Daily compounding will result in nearly the greatest future value (except for "Continuous Compounding".

The other compounding frequencies are based on periods of time other than days. Each period is assumed to be of equal length for the purposes of interest calculations. That is, assuming a balance of $10,000, the interest earned for January will be the same interest earned for February given 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."