Are you worried about making your retirement savings last?
A drawdown calculator can help!
It's a tool that figures out how long your money will last in retirement.
This retirement drawdown calculator estimates the lump sum required to provide your desired income throughout your retirement years.
Simply input:
- Your balance the day you want to retire
- Your earning rate on your investments
- How much you plan to take out each year
- An inflation rate (long term average is 3%)
A retirement drawdown calculator is a helpful tool, but it's important to remember it's just a tool.
It can't predict the future with certainty.
The stock market can go up and down, and we can't know for sure how long we'll live.
It's like a weather forecast – it gives you an idea, but things can change.