Retirement planning calculator
For many people, a million dollars is the retirement number they picture. Whether it's enough depends on what you spend, what Social Security covers, and how long the money has to last.
The basics
Your savings only need to cover what Social Security and pensions don't. The smaller that gap, the less your million has to work, and the longer it lasts. Adjust the calculator below and this picture updates with it.
Your annual spending
Covered by guaranteed income each year
The gap your savings fill, rising with inflation
Your first-year withdrawal rate. The 4% guideline is a common reference point.
The calculator
Move any input and the answer updates instantly.
Your situation
Everything you expect to spend each year, in today's dollars, before taxes.
Combined annual income you'll receive regardless of markets.
Illustrative return levels chosen for education, not based on a specific index, forecast or portfolio.
Enter your details to see how long your savings could last, your confidence score, and a spending level that reached 85% confidence.
Hypothetical illustration · not actual client results
Solid line: median scenario. Shaded band: middle 80% of scenarios. Dashed line: poor markets (10th percentile). Future dollars.
Withdrawal rate
Of savings needed in year one
Confidence
Scenarios lasting to age 95
Sustainable spending
Per year at 85% confidence
This is a hypothetical situation used for education purposes only. The information does not represent a current client, and the results shown are hypothetical — they do not reflect actual results achieved by any client and are not a guarantee of future performance. Actual results will vary based on an individual's specific circumstances.
Hypothetical results based on illustrative assumptions as of November 2026. Average annual returns are 5%, 6% or 7% with volatility of 7%, 10% or 14% for the Conservative, Balanced and Growth mixes; these are illustrative levels chosen for education, not based on a specific index, forecast or portfolio. Spending not covered by Social Security and pensions rises 2.5% a year and is withdrawn at the start of each year, each year's return is drawn independently, and savings are tested to age 95. "Typical market" is the median of 1,000 simulated paths, and balances are in future dollars. Taxes, advisory and investment fees, required minimum distributions, large one-time expenses and long-term care costs are not modeled. Small changes in these assumptions can change the results materially. These are not actual client results.
A personalized PDF with your year-by-year projection, scenario ranges, and three ways to improve your odds.
How it works
Savings at retirement, the age you want to stop working, what you'll spend each year, and the Social Security or pension income you expect.
Each scenario draws a different sequence of yearly returns, including down years, and tracks your balance year by year to age 95.
Your confidence score, how long the money lasts in a typical market, and a yearly spending level that reached 85% confidence.
At a glance
Before you test your own numbers, here is the basic arithmetic. Each bar shows how many years $1,000,000 funds withdrawals that start at the amount shown and rise 2.5% a year, at a fixed return of 0%, 4% or 6%, by our calculation.
This is a hypothetical situation used for education purposes only. The information does not represent a current client, and the results shown are hypothetical — they do not reflect actual results achieved by any client and are not a guarantee of future performance. Actual results will vary based on an individual's specific circumstances.
Talk it through
Aaron Simpson, CFP®, CLU®, ChFC®, RICP®, Senior Vice President at Moran Wealth Management®, helps clients plan how their savings turn into retirement income, including withdrawal order, Social Security timing, and taxes.
Questions
It depends on the gap between what you spend and what Social Security and pensions pay. Using the 4% guideline, $1 million supports about $40,000 a year from savings in the first year, adjusted for inflation after that. Add guaranteed income on top of that, and your total spending can be higher than $40,000.
In 1994, financial planner William Bengen found that a retiree who withdrew 4% of savings in year one, then adjusted that amount for inflation, would not have run out of money over any 30-year period in U.S. market history with a stock and bond mix. It is a starting point for planning, not a guarantee.
Every dollar of guaranteed income is a dollar your savings don’t have to provide. Claiming later raises your benefit for life, which can lower your withdrawal rate meaningfully. Claiming age is one of the decisions you may be able to control.
We simulate 1,000 different market paths using your inputs. The score is the share of those paths where your savings lasted to age 95. This calculator uses 85% as its benchmark for sustainable spending. Lower scores signal that spending, timing, or income changes may be worth exploring.
Taxes, investment fees, required minimum distributions, large one-time expenses, and long-term care costs are not modeled. A conversation with an advisor can account for these and for how you’d draw from each type of account.
This is a hypothetical situation used for education purposes only. The information does not represent a current client, and the results shown are hypothetical — they do not reflect actual results achieved by any client and are not a guarantee of future performance. Actual results will vary based on an individual's specific circumstances.
This example is provided solely to illustrate a general concept and should not be construed as investment, legal, or tax advice, or as a recommendation of any strategy or product. Individual circumstances vary, and actual outcomes for any investor will differ. Please consult your advisor to discuss how these concepts may or may not apply to your specific situation.
Past performance is not indicative of future results. This material is for informational purposes only and does not constitute investment advice. All investments involve risk, including loss of principal, and there is no guarantee that any investment strategy will be successful. Please consult with your financial advisor and review Moran Wealth Management's Form ADV Part 2A before making any investment decisions.
We do not provide tax or legal advice; please consult your CPA, attorney, or registered tax professional for individualized tax or legal advice.
Moran Wealth Management is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. For more information about our services, fees, and potential conflicts of interest, please refer to our Form ADV Part 2A, available upon request.
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