Retirement Savings and Withdrawal Projection
Year to begin displaying retirement savings and withdraw
Balance of retirement savings at Start Year
Initial annual contribution at Start Year
Percentage of remaining balance to withdraw
Percentage of increase of annual contribution
Age to start withdrawing retirement savings
Number of years to show benefit projections after claiming
- This calculator assumes that contribution increases at a fixed percentage rate over your lifetime. In reality, if you are contributing at the maximum limit allowed by the Internal Revenue Service (IRS), the growth rate varies year-over-year. For instance, there was no change between 2020 and 2021 at $19,500; while it increased from $20,500 to $22,500 between 2022 and 2023.
- This calculator assumes that withdrawal is kept at a fixed percentage rate. In reality, the limiting factor is the Required Minimum Distribution (RMD), which requires you to withdraw a minimum percentage of your balance, starting at age 73. The exception is if your retirement savings is a Roth 401k or Roth IRA account.
- This calculator simplifies the calculation of annual yield by assuming that the annual contribution is added to your account at the end of each year. In reality, contribution is likely deducted from your monthly or bi-weekly paycheck that will benefit from the annual yield / growth of the current year.