How long will my savings last?
Short answer
It depends on three numbers: how much you have, how much you take out each month, and how fast the rest grows. Enter yours below. A pension and Social Security keep paying for life, so savings usually only need to fill the gap between them and what you spend.
Your numbers
TSP, IAP, 457, 403(b), IRAs and other savings you'll draw from.
4% is a middle-of-the-road guess for a mix of stocks and bonds. Real returns go up and down.
To keep up with prices. Use 0 for the same amount every year.
| Age | Taking out each month | Left at the start of the year |
|---|
Rules that affect how you draw down savings
- Required minimum distributions. Tax-deferred accounts such as the TSP, 457(b), 403(b) and traditional IRAs must start paying out at age 73, or 75 if you were born in 1960 or later (IRS: RMD questions). If our plan has you taking out less than the required amount, the IRS rules win.
- Taxes. Money from tax-deferred accounts is taxed as income when you take it out. Roth money that meets the rules comes out tax free. Plan your withdrawals before tax so you have enough after it.
- The 10% early penalty. It usually doesn't apply to a 457(b), or to the TSP and most 401(k) and 403(b) plans if you leave your job in or after the year you turn 55 (50 for public safety workers). IRAs follow different rules. See our guide to TSP withdrawals.
- Bad years early hurt more. A market drop in your first years of withdrawals does more damage than the same drop later. Many retirees keep a year or two of spending in cash or bonds for that reason.
To see savings next to your pension and Social Security, try Can I retire? or the full Retirement Date Planner.
An illustration, not a promise. Real investment returns change from year to year, and we don't include taxes or fees. This isn't investment advice.