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Retirement income calculator
Add up savings, Social Security and any pension. We find the steady monthly income your savings supported through U.S. market history, and a higher flexible option.
$67,000 a year: $37,000 from savings, $30,000 from Social Security. The savings part lasted 30 years in every historical start.
What this means
Your savings of $1,000,000 could have supported about $37,000 a year, rising with inflation, for 30 years in every retirement since 1928. Added to your other income, that’s about $5,583 a month before taxes.
If you’re willing to trim spending in bad markets, guardrails let you start at about $6,208 a month. In the toughest historical starts, total income dipped to about $5,467 a month before recovering.
45% of your income comes from Social Security, which doesn’t depend on markets. The larger that share, the less a bad market changes your monthly budget.
Where retirement income comes from
Most retirees draw income from three places: savings (401(k), IRA, brokerage), Social Security, and sometimes a pension or annuity. Social Security and pensions are paid no matter what markets do. Savings are what you have to stretch.
This calculator finds the steady, inflation-adjusted amount your savings could have paid through every historical start year (or the share you choose), then adds your other income on top for a single monthly figure.
Steady income vs. flexible income
The “steady” figure never changes in real terms, so it has to be low enough to survive the worst retirement on record. The guardrails figure starts higher and adjusts: spending dips about 10% after big market drops and rises after strong years. The calculator shows how low that flexible income went in the toughest historical start, so you can judge whether you could live with it.
Assumptions
- Social Security and pension income are entered in today’s dollars and assumed to start now and rise with inflation (many pensions don’t; enter a lower amount if yours is fixed).
- Savings hold 60% stocks and 40% 10-year Treasuries. Income is before taxes.
- “Steady” income rises with inflation and never changes. Each 30-year stretch since 1928 is tested.
New to a term? See the retirement income glossary.
Common questions
How much monthly income will $1 million produce?
Historically, about $3,000 to $3,300 a month from savings alone with a balanced mix, rising with inflation, if you want it to last 30 years in every past start. Add Social Security on top.
Is this before or after taxes?
Before taxes. Withdrawals from pre-tax accounts and part of Social Security may be taxable.
Does my pension rise with inflation?
Many don’t. The calculator treats it as rising with inflation; if yours is fixed, enter a lower amount to reflect lost buying power over time.
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How we calculate this
We search for the highest inflation-adjusted withdrawal from your savings that lasted through your chosen share of historical start years, then add your Social Security and pension income. The guardrails figure repeats the search with spending that adjusts to markets.
Data: S&P 500 total returns, 10-year Treasury and 3-month Treasury bill returns as compiled by Aswath Damodaran (NYU Stern), and CPI-U inflation from the U.S. Bureau of Labor Statistics, 1928–2025 (2025 preliminary). Read the full methodology and limitations.