How Long Will My Savings Last Calculator – Savings Runout Estimator
Ever wondered how long your savings will actually last if you stop earning today?
Your result is based on a few inputs, including
- Starting balance
- Monthly spending
- Investment returns, and
- Inflation.
It does not produce an exact timeline, but it gives a useful estimate for planning.
How Long Will $1.2 Million Last In Retirement?
Wondering if $1.2 million is enough to retire on? See how long it could last based on your spending, retirement age, and income needs, and what could change the outcome.
Open CalculatorHow Long Will My Money Last in Retirement Calculator
How to Fill out Your Retirement Details
1. Current Age
Enter your age today. This will set the starting point for how long your money has to grow.
2. Target Age (Savings to last until)
Enter the age you want your savings to support you through.
3. Current Savings
Add up everything you already have saved for retirement or long-term investing.
This includes
- Savings accounts
- Stocks
- Mutual funds, and
- Retirement funds.
4. Monthly Spending
Enter how much you expect to spend each month in retirement. A good starting point is your current spending, adjusted slightly for lifestyle changes.
5. Monthly Income
Include any money you expect to receive each month in retirement. This could be pension income, rental income, dividends, or part-time work. If none, enter 0.
6. Expected Annual Return
You enter how much your investments might grow each year.
A moderate long-term assumption is around 5–7%, but you can adjust based on how conservative or aggressive you are.
7. Inflation Rate
Next, enter the expected rise in living costs each year. Most people use around 2–4% as a baseline.
8. Tax Rate
Estimate the effective tax on your investment growth or withdrawals. If you’re unsure, using 0% keeps things simple and shows a best-case scenario.
How WealthForSeniors Retirement Calculator Works?
Our calculator estimates how long your savings may last by simulating your financial life month by month.
By default, the model uses simple long-term planning assumptions that you can adjust at any time:
- Retirement-style planning horizon of up to 100 years to test long-term sustainability
- Investment growth applied monthly, based on your expected annual return
- Inflation increases spending over time, so future costs grow gradually
- Income (if any) continues and grows modestly
- Taxes reduce investment gains
- All values are modeled in a consistent, year-by-year cash flow simulation
What Affects How Long Your Retirement Savings Last?
1. Spending Level
Your annual spending is typically the single most important variable in any retirement plan. The more you withdraw each year, the faster your portfolio may be depleted.
Retirement spending varies widely across the United States, but many retired households spend roughly $50,000–$60,000 per year.
Even if you make a small reduction in your annual spending, it can dramatically extend the lifespan of a retirement portfolio, especially over a retirement that may last 20 to 30 years or longer.
2. Inflation Gradually Increases Retirement Costs
Inflation causes the cost of goods and services to rise over time.
As a result, retirees generally need more income each year just to maintain the same standard of living.
Because of this, your retirement plans should account for future increases in expenses rather than assuming spending will remain constant.
3. Investment Returns Influence Portfolio Longevity
Funds kept primarily in cash or low-yield savings accounts may provide stability, but they often struggle to keep pace with inflation over long periods.
But diversified portfolios that include a mix of
- Stocks and
- Bonds
..have historically provided higher long-term growth potential, which can help offset withdrawals and rising costs.
4. Your Location Can Significantly Affect Retirement Costs
States with lower housing costs, taxes, and everyday living expenses generally allow retirees to maintain the same lifestyle with less spending.
On the other hand, higher-cost states such as California or Hawaii may require substantially larger withdrawals to cover
- Housing
- Healthcare
- Transportation, and
- Other routine expenses.
How Long Do Different Withdrawal Rates Last?
Your withdrawal rate is the percentage of your savings you spend each year.
| Withdrawal Rate | Estimated Duration |
|---|---|
| 2% per year | 50+ years (very conservative) |
| 3% per year | 35–50 years |
| 4% per year | 30 years (standard rule) |
| 5% per year | 20–25 years |
| 6%+ per year | Higher risk of running out early |
If you change even a small percentage, it can make a huge difference in how long your money lasts.
How to Make Your Savings Last Longer?
- Withdraw less each year to slow down how fast your savings decrease.
- Cut big expenses, not small ones, because housing and lifestyle matter most.
- Invest your money so it can grow instead of sitting in cash, losing value to inflation.
- Use a flexible spending plan that adjusts when markets go up or down.
- Follow a safe withdrawal rate (around 3%–4%) instead of overspending.
- Keep some guaranteed income, like Social Security or a pension, to reduce pressure on savings.
- Avoid large withdrawals early because early losses hurt your long-term balance the most.
- Track your spending regularly so you can adjust before problems grow.
- Reduce lifestyle inflation so your expenses don’t rise faster than your income.
- Stay adaptable and review your plan every year based on returns and costs.
