Retirement can be scary notion from a financial perspective. For the first time in your life, you’ll be without a steady paycheck, which means you’ll be reliant on your savings and Social Security benefits to cover your living costs in their entirety.
If you’ve been putting money away for retirement for quite some time, you may be wondering how long your savings will last, and what sort of annual withdrawal rate they’ll support. But if you use our helpful calculator, you’ll get a good sense of how well your savings will fare in the face of what could be a 30-year retirement.