Retirement Paycheck Estimator
Will your savings keep paying you?
Social Security and a pension cover part of your bills. Your savings have to cover the rest, every month, for decades. Enter a few numbers to see what your savings need to supply, what they can sustain, and whether they last. It is a quick check-up for retirees in Ocala, The Villages, Gainesville and across North Central Florida.
Year-by-year table
How this is calculated
What savings must supply. Your monthly spending minus your guaranteed income. If guaranteed income covers your spending, savings supply nothing.
Inflation. Your spending and your guaranteed income both rise with inflation every year, so the amount savings supply rises too. Social Security has yearly cost-of-living raises, but many pensions do not. If yours does not, the real gap grows faster than shown.
Returns. The same return every year, on whatever is left after each year’s withdrawal. Each year’s withdrawal comes out at the start of the year.
What savings can sustain. The first-year monthly withdrawal that, rising with inflation each year, would use up your savings exactly at the age you plan to. Above it you run short; below it you leave money behind.
Real life is bumpier. Returns change every year. A few bad years early in retirement can make savings run out sooner than a steady average suggests. This tool does not model that, or taxes, fees, or one-time costs like a new roof or a health event.
Reading your results
The gap is the number to watch. It is what your savings must pay you each month after guaranteed income. The smaller it is compared with your savings, the more room you have for bad years, surprises and a long life.
A steady average is not the real world. This estimate uses the same return every year. Real markets jump around, and a drop in the first few years of retirement, while you are withdrawing, does more damage than the same drop later.
There are ways to close a gap. Covering essential bills with guaranteed income, timing Social Security, keeping a cash buffer, and drawing from accounts in a tax-smart order can all help. A written income plan puts those pieces together for you.
Will your money last?
Let’s build you a written income plan.
In one complimentary meeting we’ll sketch where your retirement income will come from, and spot the gaps before they become problems.