See exactly how much monthly income your savings will generate — with Social Security, taxes, and inflation factored in.
Last reviewed: June 2025 · 2025 IRS limits · SSA 2025 data
Calculate Your Retirement Income
Fill in your details. The calculator shows monthly income at retirement from all sources.
Your Savings
Your Timeline
Assumptions
7%
Guaranteed Income
Estimated total monthly retirement income
$0
Annual: $0 · Portfolio value at retirement: $0
$0
From portfolio (4% rule)
$0
Social Security (monthly)
$0
Pension (monthly)
Portfolio longevity estimate
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How the Retirement Income Calculator Works
This calculator uses three inputs to estimate your total monthly retirement income: (1) your projected portfolio balance at retirement, (2) a sustainable withdrawal rate, and (3) guaranteed income sources like Social Security and pensions.
Step 1: Projecting Your Portfolio Balance
The calculator compounds your current savings plus ongoing contributions at your chosen expected return rate until your retirement age. It uses the future value of a growing annuity formula: FV = PV × (1+r)^n + PMT × [((1+r)^n − 1) / r], where r is the monthly return rate and n is the number of months until retirement.
Step 2: Calculating Portfolio-Derived Income
The annual income from your portfolio = Portfolio Balance × Withdrawal Rate. At 4%, a $1,200,000 portfolio generates $48,000/year, or $4,000/month.
Step 3: Adding Guaranteed Income
Social Security and pension income are added directly to portfolio income. Unlike portfolio withdrawals, these income streams are not subject to sequence-of-returns risk and continue regardless of market conditions.
Withdrawal Rate: The Most Important Decision
Withdrawal Rate
Best For
Annual Income on $1M
Historical Success Rate
3.3%
Early retirees (retire at 55–60)
$33,000
~98% over 40 years
4.0%
Standard retirement at 65–67
$40,000
~95% over 30 years
4.5%
Retire at 68–70, flexible spending
$45,000
~88% over 30 years
5.0%
Retire at 70+, shorter horizon
$50,000
~82% over 20 years
Note on Success Rates
These historical success rates are from the Trinity Study and related research using 50/50 stock/bond portfolios. A more aggressive allocation (e.g., 60/40 or 70/30) has historically improved success rates at higher withdrawal rates.
How Much Will $500K, $1M, $2M Generate Per Month?
Portfolio at Retirement
At 3.3%/yr
At 4%/yr
At 5%/yr
$250,000
$688/mo
$833/mo
$1,042/mo
$500,000
$1,375/mo
$1,667/mo
$2,083/mo
$750,000
$2,063/mo
$2,500/mo
$3,125/mo
$1,000,000
$2,750/mo
$3,333/mo
$4,167/mo
$1,500,000
$4,125/mo
$5,000/mo
$6,250/mo
$2,000,000
$5,500/mo
$6,667/mo
$8,333/mo
$3,000,000
$8,250/mo
$10,000/mo
$12,500/mo
Add your Social Security benefit (average: $1,907/month in 2025) to the portfolio column to get a complete income picture. A retiree with $1M and a $2,000 Social Security benefit would have approximately $5,333/month in income at a 4% withdrawal rate.
Taxes: The Hidden Income Reducer
Most retirement income is taxable. Traditional 401(k) and IRA withdrawals are taxed as ordinary income. Social Security is up to 85% taxable if your provisional income exceeds $32,000 (married filing jointly). Plan on 15–25% effective tax rates in retirement depending on your income level and account mix.
Tax Planning Tip
A mix of pre-tax (traditional 401k/IRA) and after-tax (Roth) accounts gives you flexible tax management in retirement. Roth withdrawals are tax-free and don't count toward provisional income for Social Security taxation.
The Impact of Delaying Social Security
Claiming Social Security at 70 instead of 62 increases your monthly benefit by up to 77%. For someone with a $2,000/month benefit at 62, waiting to 70 means $3,540/month — a difference of $18,480/year that continues for life and adjusts for inflation annually.
Claim Age
Benefit (% of Full Retirement Benefit)
Example: $2,500 FRA Benefit
62
70%
$1,750/mo
65
86.7%
$2,167/mo
67 (FRA)
100%
$2,500/mo
70
124%
$3,100/mo
Educational Content Only. This calculator and article are provided by RetirementCheck101™ for general informational purposes only. Results are estimates based on simplified assumptions and are not predictions or guarantees of actual investment performance. Not investment, tax, legal, or accounting advice. Consult a licensed financial professional before making retirement planning decisions. Full disclaimer →