How Long Will Savings Last?


This tool will tell you how long you could live off your savings.

If you have some serious savings, you may probably wonder how long it will last if you quit your job. Maybe you could retire early? This tool will answer your question.

The tool doesn't just simply split your savings into several months and tell you how long it lasts. The calculator assumes that you will keep investing and withdraw only a small amount a month to cover your bills and costs of living.

In order to provide the most probable result, the calculator will include target inflation and taxes. 

Thanks to this, you could really evaluate if you've achieved financial freedom or not. You can also play with different settings to find out the amount of money that will let you retire early or make a pause in a career.

How does this calculator work?

The calculator utilizes the compound interest concept to execute the analysis. The capital left after each withdrawal is a base for further interest calculation, which is added to the savings balance (according to the compounding frequency you choose). 

The tools work according to the following procedure until your savings are depleted. 

  1. Subtract the monthly withdrawal amount from the savings balance. 
  2. Calculate the interest from the remaining savings amount. 
  3. Subtract the income tax from the interest earned and add the resulting amount to the savings balance. 

List of fields

Initial savings - your starting savings balance. 

Monthly withdrawal - the amount of money you need to cover your living costs.

Annual increase - the percentage value of the yearly growth of the withdrawal amount. This field could simulate inflation. Just put the average inflation value you expect (for example, 2%).

Interest rate - the expected average annual return from your investments.

Tax rate - income tax in your state.

Similar tools

You may find our other tools useful if you think about early retirement or reaching FIRE. Calcopolis provides a bunch of calculators for savvy investors. Starting with a regular saving calculatorsaving rate calculator, to saving goal calculator, where you can check how long it will take to save a certain amount of money.

You can even calculate the potential decrease in the value of your savings due to inflation

Have you ever thought about retiring early and living a comfortable life without worrying about finances? Our Financial Independence Retire Early Calculator can help you achieve just that. With valuable guidance and expert advice, our tool is designed to assist you in reaching your financial goals. Take the first step towards a stress-free retirement by trying our FIRE calculator today!


Created by Lucas Krysiak on 2022-03-09 18:11:39 | Last review by Mike Kozminsky on 2023-04-20 13:48:24

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