Withdrawal calculator

[sigpros]

I have looked around online but can't find what I want. Is there a calculator that you can input your 401K value, age, and see how much you can withdrawal while changing interest rate?

Example:
age 55
live to 85
401K=$600000
earn 7% a year but want to take 4% out so the base amount doesn't run out and I can see what I could leave to my kids?

 

[WyoCoalMiner]

I have looked around online but can't find what I want. Is there a calculator that you can input your 401K value, age, and see how much you can withdrawal while changing interest rate?

Example:
age 55
live to 85
401K=$600000
earn 7% a year but want to take 4% out so the base amount doesn't run out and I can see what I could leave to my kids?

I like this simulator. https://ficalc.app/

 

[SAJ-99]

Excel. I built one a few years back for someone. I will see if I can find it.
Don't forget to tax the 401k withdraw as income and grow your expenses at inflation (or more). Any AI agent can do it pretty quick as well.

 

[Kaitum]

Any AI agent can do it pretty quick as well.

This. You can plug in as many scenarios as you like with as many variables as you can think of. AI will give you output in any format.

 

[Exhausted]

Excel. I built one a few years back for someone. I will see if I can find it.
Don't forget to tax the 401k withdraw as income and grow your expenses at inflation (or more). Any AI agent can do it pretty quick as well.

It can also create a spreadsheet to do it for you. The following took it about 5 - 10 minutes simply based on a screenshot of the OP.

 

[sigpros]

Thank you guys. Im not good at AI or anything tech. But in the example I could withdraw $24K a year? and my account would stay the same or still grow? If so that is good news.

 

[WyoCoalMiner]

Thank you guys. Im not good at AI or anything tech. But in the example I could withdraw $24K a year? and my account would stay the same or still grow? If so that is good news.

Forget what I said earlier. Do what @Exhausted did. Ask it to create a Monte Carlo simulation as well. Powerful stuff created in minutes! This may just help my mental health as well.

 

[Keep on]

Thank you guys. Im not good at AI or anything tech. But in the example I could withdraw $24K a year? and my account would stay the same or still grow? If so that is good news.

I would consider 4% overly conservative, look into dynamic withdrawal strategies. Plenty of youtube stuff out there.
Even the guy who came up with the 4% rule has come out and said that it was only for the worst scenario in the last 130 years, most could safely withdrawal close to 5%.

 

[SAJ-99]

Thank you guys. Im not good at AI or anything tech. But in the example I could withdraw $24K a year? and my account would stay the same or still grow? If so that is good news.

That is the number I would definitely inflation adjust. you expenses are not going to stay the same for 30 years. This is why it helps to do it yourself. Play with the numbers and think through the result. The real problem is that the return assumption isn't static while model thinks it is. You need to be able to weather a 20% decline for a couple of years.

 

[brymoore]

I would consider 4% overly conservative, look into dynamic withdrawal strategies. Plenty of youtube stuff out there.
Even the guy who came up with the 4% rule has come out and said that it was only for the worst scenario in the last 130 years, most could safely withdrawal close to 5%.

What’s the right percentage? I knew 4% was conservative but is 5% still low? In a perfect world, I should be able to withdraw funds and have slight growth in the accounts over a long term, recognizing recession in the overall long term return.