A “how long will my money last” calculator estimates how many months or years your savings can support a given level of spending, usually for retirement or a period without income. These tools are free and available from many banks and financial sites online.
Good online calculators
Here are some easy options you can use right away (all are browser-based and free):
- DollarTimes “How Long Will Your Savings Last” focuses on a starting balance, yearly withdrawals, and an assumed investment return, then tells you how many years the money lasts.
- USAA Educational Foundation’s “Retirement Savings Calculator” lets you enter current savings, monthly spending, income, rate of return, and inflation to see how long your retirement fund might last.
- Bankrate’s “Savings income calculator” lets you enter current savings, expected interest rate, and desired monthly withdrawal to estimate how many months or years your savings can cover that level of spending.
What you’ll need to input
Most “how long will my money last” calculators ask you for:
- Current savings or investment balance.
- Expected rate of return on those savings (often a yearly percentage).
- Planned withdrawals (monthly or yearly spending).
- Sometimes extra fields like other income (pension, Social Security), inflation, and taxes.
Quick way to choose one
- If you want something very simple, use DollarTimes or a similar “savings last” calculator that only needs balance, withdrawal, and return.
- If you want a more realistic retirement projection that includes inflation, pensions, and Social Security, use a retirement-focused version like the USAA or credit union retirement calculators.
If you tell how much you have saved, how much you plan to spend each month, and any expected investment return, a step‑by‑step example can be walked through with you.
