![]() This number should match what you see under ‘Total withdrawal amount’. Then multiply that number by the number you have entered in ‘years of withdrawals’. To verify this calculation, you simply need to multiply your ‘desired monthly withdrawal’ by 12 to get the withdrawals you will make on an annual basis. Total withdrawal amount : This is a simple calculation that demonstrates the cumulative withdrawals you expect to make over your retirement. Once you have input all of the requisite fields into the calculator, you can turn your attention to the right of the screen to see the results of your retirement plan. Understanding the results of the Retirement Withdrawal Calculator Years of withdrawals : Put simply, this is the length (in years) that you envision needing to draw down on your retirement fund. This number should reflect the total value of the funds in your investment account right before you make your first-ever withdrawal in retirement.ĭesired monthly withdrawal : The desired monthly withdrawal is the amount that you plan to take out from your investment account on a monthly basis in retirement.Įxpected rate of return : This is the rate of return that you can reasonably expect your portfolio to earn on the markets per year on average over the specified number of years that you have input for your retirement. Value of your investments : Think of this as the value of your investment portfolio on Day 1 of your retirement. To use the calculator, you need to enter the following: At its core though, the calculator is available to all users – regardless of age – to make the right decisions now that will ultimately facilitate a comfortable retirement. The Hardbacon Retirement Withdrawal Calculator was designed to help impending retirees determine how much they can withdraw from their accounts each month without depleting the amounts they had saved up. How to use the Hardbacon Retirement Withdrawal Calculator ![]()
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