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Savings Withdrawal Calculator With Printable Savings Withdrawal Schedule

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Enter a "0" (zero) for one unknown value above.

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34 Comments on “Withdrawal Savings Calculator”

Join the conversation. Tell me what you think.
  • Why do I repeatedly get “NaN” inserted in the Number of Withdrawals field, where I have inserted a “0,” with the other 3 fields filled with values? The calculator worked once, with a different interest rate, but hasn’t worked since. I have tried changing browsers, re-booting.

    • "NaN" means "not a number". A user should never see that. It means the calculator is not show an appropriate message.

      Without knowing your specific inputs, I can’t tell you what the exact reason is you are seeing NaN. However, I can make a guess.

      My guess is, you increased the interest rate and now the amount being withdrawn is less then the amount earned in interest for the period. Which means the number of periods is infinite. You can test my guess by reducing the interest rate a bit (say by 0.5 at a time).

      If you give me your exact inputs, I’m also happy to let you know the reason.

  • Where is the money “stored” to earn the interest? Stocks, cash savings, combo. I am completely ignorant on this subject.

    • If your question is, where should you invest the money, I’m afraid I’m not qualified to provide investment advise. I am happy to answer any questions you have about what calculator to use, or how to use a calculator.

  • this is really a great tool Karl, thank you

  • This is exacty what I was looking for as I approach retirement! THANKS!

  • Is this based on what we use to call a “sinking fund” equation back in engineering school?

  • How to choose compounding frequency on mutual fund investments?

    • I’m sorry, but I don’t understand what you mean. The compounding frequency is the compounding frequency. It does not matter if it’s for a loan, a mutual fund, or whatever. If you are asking "what" compounding frequency you should pick for a mutual fund, I would suggest annually, as that is most conservative.

      • Forgive my naivete’; I was simply asking what method of compounding to choose and have entered into the box on your calculator, when the monies are currently held in a mutual fund account.

        • It’s a good question. I just wasn’t sure what your question was.

          The compounding option generally is made available for savings and similar accounts that specify a compounding frequency.

          But the calculator can be used for mutual funds, and what you set it to depends on how you set the rate. Say, for example, your mutual fund states they average a 7% annual return. Then I would set compounding to annually.

          However, if again, for example, you see that your fund returned 2% for the last quarter then you need to do a little arithmetic. Since the calculator asks for an annual rate, you should enter 8%. And since the return was for a quarter, I would set the compounding to quarterly.

          But the bottom line is when projecting how long income from a mutual fund might last, it can only be an estimate since we do not know how the fund will perform in the future. And the “error” from picking the “wrong” compounding frequency may pale compared to the change in the fund’s future performance. So compounding for a mutual fund is definitely not something one needs to stress out over.

  • Thank you for this calculator. It’s exactly what I was looking for. As spouses who are already retired, it’s been impossible to find calculators that made sense. Other calculators I’ve found have to do with pre-retirement. Do you have one that adds in social security income?

    • I’m not exactly sure what you want to calculate. This retirement calculator is for retirement planning. It has a saving/investing cash flow and a withdrawal cash flow. The withdrawal cash flow allows the user to include social security income.

  • Lee Holsenbeck says:

    your annual interest rate is 5.5%, so if it is a mutual fund; you are expecting a 5.5% return annually or is it a 5.5% return on some sort of money market, CDs, or annuities ?

    • That rate is simply a default value. The calculators on this site are designed so a user can quickly see what a schedule will look like without having to stop and enter values.

      Enter whatever rate fits your needs.

  • Could you add inflation support?
    1000/month today won’t look like much in 15 or 20 years.

  • Based on another calculator titled ‘How Long Will My Money Last’ I would expect 300K, at 5% gain and 3% inflation for 15 years (180 pmts) to provide $1934 at payment #1 and $3034 at payment #180.

    In the first year that calculator reports the monthly range for the 1st twelve withdrawal payments begin at $1934 and end at $1988, approx. a $5 increase each month.

    The https://financial-calculators.com/investment-calculator does not replicate, even closely, those results. Your Withdrawal Calculator comes the closest to the interface I desire, albeit it doesn’t support inflation or report incrementing monthly withdrawal figures.

    Payment or donation would be forth coming if that happened, and I think the app would rise to the top in the world of calculators.

    Thanks
    Ed

    • Hi Ed, first, let me say that these calculations are hypothetical since there are several assumptions being made, as I’m sure you understand. Also, two calculators can model the withdrawal differently, and neither will be wrong. That said, I’m wondering what you mean by "even closely?" I see the two calculations as being close.

      The investment calculator adjusts the withdrawal for inflation once a year, not each month. If I take $1,934 and increase it by 3%, I get $1,992, which should be the withdrawal amount starting with the 13th period, and that’s exactly what the investment calculator gives me. What did you get?

      To confirm this, make sure your options are set this way:

         Annual Inflation Rate?:         3.000%
         Adjust Cash Flow For Inflation?:   Yes
         Federal Marginal Tax Rate?:     0.000%
         State Marginal Tax Rate?:       0.000%
         Are State Taxes Deductible?:        No
         Whether or not state taxes are deductible on Federal tax return.
         Taxes Calculated on Withdrawal?:    No
             If "No", taxes are calculated on investment gain.
         Management Fee?:                     0
      

      The calculator has different values when it’s first loaded. Make sure you set the adjustment for inflation to "Yes," and remove the tax rate.

  • 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

    • 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."

  • 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.

    • 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.

    • 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.

      • 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

        • 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:

          • Windows: ctrl + F5
          • Mac/Apple: Apple + R or command + R
          • Linux: F5

          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.

  • 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!

  • This is good but what about inflation?

Comments, suggestions & questions welcomed...

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