Retirement Income Calculator
Calculate your retirement income from all sources: Social Security, pension, 401(k), IRA, and investments. See how your income changes through different retirement phases and how long your savings will last.
Your Timeline
Guaranteed Income Sources
Current Savings
Assumptions
Estimated Monthly Retirement Income
When all income sources are active
Monthly Income Breakdown (Full Benefits)
Income by Retirement Phase
| Phase | Ages | Income Sources | Monthly Income |
|---|---|---|---|
| Early Retirement | 65-64 | Portfolio only | $5,074 |
| Partial Benefits | 65-66 | Portfolio + Pension | $6,574 |
| Full Benefits | 67+ | Portfolio + SS + Pension | $9,074 |
Projected Savings at Retirement
| 401(k) / Traditional IRA | $895,424 | Taxable withdrawals |
| Roth IRA | $179,085 | Tax-free withdrawals |
| Taxable Investments | $358,170 | Capital gains tax |
| Other Savings | $89,542 | Varies |
| Total | $1,522,221 |
Retirement Income Planning
The Three-Legged Stool
Traditional retirement income comes from three sources: Social Security, pensions, and personal savings. Today, most people rely heavily on personal savings as pensions become rare.
Sequence of Returns Risk
Poor market returns early in retirement can devastate your portfolio. Consider keeping 2-3 years of expenses in cash or bonds to avoid selling stocks during downturns.
Tax-Efficient Withdrawals
Withdraw from taxable accounts first, then tax-deferred (401k), then Roth last. This lets tax-advantaged accounts grow longer. Consider Roth conversions in low-income years.
Frequently Asked Questions
How much income will I have in retirement?
Retirement income typically comes from three sources:
- Social Security: Average benefit ~$1,900/month
- Pension: If you have one (increasingly rare)
- Personal savings: 401(k), IRA, investments
Use the 4% rule for savings: withdraw 4% annually. A $1 million portfolio = $40,000/year = $3,333/month.
What is the 4% rule?
The 4% rule suggests withdrawing 4% of your portfolio in year one, then adjusting for inflation each year. This strategy has historically provided income for 30+ years.
| Portfolio | 4% Annual | Monthly |
|---|---|---|
| $500,000 | $20,000 | $1,667 |
| $750,000 | $30,000 | $2,500 |
| $1,000,000 | $40,000 | $3,333 |
| $1,500,000 | $60,000 | $5,000 |
| $2,000,000 | $80,000 | $6,667 |
When should I start Social Security?
- Age 62: Earliest, but reduced 25-30%
- Age 66-67: Full retirement age (100%)
- Age 70: Maximum benefit (132%)
Each year you delay past FRA increases benefits by 8%. If you're healthy and can afford to wait, delaying often maximizes lifetime benefits.
How long will my savings last?
With a 4% withdrawal rate and balanced portfolio, savings historically last 30+ years. Factors affecting longevity:
- Withdrawal rate (lower = longer)
- Investment returns
- Inflation
- Sequence of returns (early bad years hurt more)