LONG-TERM INVESTMENT · LEVEL 1+
One plan from saving
to spending.
Unlike our other tools, which isolate one FIRE decision, this calculator connects the accumulation phase and the retirement withdrawal phase. See whether today's savings can fund tomorrow's spending—and what may close the gap.
ACCUMULATION + WITHDRAWAL
One continuous portfolio path.
Year-by-year lifecycle
| Age | Phase | Starting balance | Contributions | Investment return | Retirement spending | Other income | One-time cash flow | Tax-free allowance | Wealth tax | Capital gains tax | Portfolio withdrawal | Ending balance | Value in today’s dollars |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 40 | Accumulation | $400,000 | $36,000 | $30,520 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $466,520 | $466,520 |
| 41 | Accumulation | $466,520 | $36,720 | $35,227 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $538,467 | $527,909 |
| 42 | Accumulation | $538,467 | $37,454 | $40,314 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $616,236 | $592,307 |
| 43 | Accumulation | $616,236 | $38,203 | $45,811 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $700,250 | $659,861 |
| 44 | Accumulation | $700,250 | $38,968 | $51,745 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $790,963 | $730,727 |
| 45 | Accumulation | $790,963 | $39,747 | $58,150 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $888,859 | $805,067 |
| 46 | Accumulation | $888,859 | $40,542 | $65,058 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $994,459 | $883,051 |
| 47 | Accumulation | $994,459 | $41,353 | $72,507 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.11M | $964,858 |
| 48 | Accumulation | $1.11M | $42,180 | $80,535 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.23M | $1.05M |
| 49 | Accumulation | $1.23M | $43,023 | $89,184 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.36M | $1.14M |
| 50 | Accumulation | $1.36M | $43,884 | $98,499 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.51M | $1.24M |
| 51 | Accumulation | $1.51M | $44,761 | $108,527 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.66M | $1.33M |
| 52 | Accumulation | $1.66M | $45,657 | $119,320 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.82M | $1.44M |
| 53 | Accumulation | $1.82M | $46,570 | $130,932 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.00M | $1.55M |
| 54 | Accumulation | $2.00M | $47,501 | $143,422 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.19M | $1.66M |
| 55 | Withdrawal | $2.19M | $0 | $109,616 | $80,752 | $0 | $0 | $0 | $0 | $7,975 | $88,727 | $2.21M | $1.64M |
| 56 | Withdrawal | $2.21M | $0 | $110,660 | $82,367 | $0 | $0 | $0 | $0 | $8,420 | $90,787 | $2.23M | $1.63M |
| 57 | Withdrawal | $2.23M | $0 | $111,654 | $84,014 | $0 | $0 | $0 | $0 | $8,868 | $92,882 | $2.25M | $1.61M |
| 58 | Withdrawal | $2.25M | $0 | $112,592 | $85,695 | $0 | $0 | $0 | $0 | $9,318 | $95,013 | $2.27M | $1.59M |
| 59 | Withdrawal | $2.27M | $0 | $113,471 | $87,409 | $0 | $0 | $0 | $0 | $9,771 | $97,179 | $2.29M | $1.57M |
| 60 | Withdrawal | $2.29M | $0 | $114,286 | $89,157 | $0 | $0 | $0 | $0 | $10,226 | $99,383 | $2.30M | $1.55M |
| 61 | Withdrawal | $2.30M | $0 | $115,031 | $90,940 | $0 | $0 | $0 | $0 | $10,685 | $101,625 | $2.31M | $1.53M |
| 62 | Withdrawal | $2.31M | $0 | $115,701 | $92,759 | $0 | $0 | $0 | $0 | $11,147 | $103,905 | $2.33M | $1.50M |
| 63 | Withdrawal | $2.33M | $0 | $116,291 | $94,614 | $0 | $0 | $0 | $0 | $11,612 | $106,226 | $2.34M | $1.48M |
| 64 | Withdrawal | $2.34M | $0 | $116,794 | $96,506 | $0 | $0 | $0 | $0 | $12,080 | $108,586 | $2.34M | $1.46M |
| 65 | Withdrawal | $2.34M | $0 | $117,205 | $98,436 | $0 | $0 | $0 | $0 | $12,552 | $110,988 | $2.35M | $1.43M |
| 66 | Withdrawal | $2.35M | $0 | $117,516 | $100,405 | $0 | $0 | $0 | $0 | $13,028 | $113,433 | $2.35M | $1.41M |
| 67 | Withdrawal | $2.35M | $0 | $117,720 | $102,413 | $20,483 | $0 | $0 | $0 | $10,806 | $92,737 | $2.38M | $1.39M |
| 68 | Withdrawal | $2.38M | $0 | $118,969 | $104,461 | $20,892 | $0 | $0 | $0 | $11,193 | $94,762 | $2.40M | $1.38M |
| 69 | Withdrawal | $2.40M | $0 | $120,179 | $106,551 | $21,310 | $0 | $0 | $0 | $11,584 | $96,824 | $2.43M | $1.37M |
| 70 | Withdrawal | $2.43M | $0 | $121,347 | $108,682 | $21,736 | $0 | $0 | $0 | $11,978 | $98,923 | $2.45M | $1.35M |
| 71 | Withdrawal | $2.45M | $0 | $122,468 | $110,855 | $22,171 | $0 | $0 | $0 | $12,376 | $101,060 | $2.47M | $1.34M |
| 72 | Withdrawal | $2.47M | $0 | $123,539 | $113,072 | $22,614 | $0 | $0 | $0 | $12,778 | $103,236 | $2.49M | $1.32M |
| 73 | Withdrawal | $2.49M | $0 | $124,554 | $115,334 | $23,067 | $0 | $0 | $0 | $13,183 | $105,451 | $2.51M | $1.31M |
| 74 | Withdrawal | $2.51M | $0 | $125,509 | $117,641 | $23,528 | $0 | $0 | $0 | $13,594 | $107,706 | $2.53M | $1.29M |
| 75 | Withdrawal | $2.53M | $0 | $126,399 | $119,993 | $23,999 | $0 | $0 | $0 | $14,008 | $110,003 | $2.54M | $1.27M |
| 76 | Withdrawal | $2.54M | $0 | $127,219 | $122,393 | $24,479 | $0 | $0 | $0 | $14,427 | $112,342 | $2.56M | $1.25M |
| 77 | Withdrawal | $2.56M | $0 | $127,963 | $124,841 | $24,968 | $0 | $0 | $0 | $14,851 | $114,724 | $2.57M | $1.24M |
| 78 | Withdrawal | $2.57M | $0 | $128,625 | $127,338 | $25,468 | $0 | $0 | $0 | $15,280 | $117,150 | $2.58M | $1.22M |
| 79 | Withdrawal | $2.58M | $0 | $129,198 | $129,885 | $25,977 | $0 | $0 | $0 | $15,713 | $119,621 | $2.59M | $1.20M |
| 80 | Withdrawal | $2.59M | $0 | $129,677 | $132,482 | $26,496 | $0 | $0 | $0 | $16,152 | $122,138 | $2.60M | $1.18M |
| 81 | Withdrawal | $2.60M | $0 | $130,054 | $135,132 | $27,026 | $0 | $0 | $0 | $16,597 | $124,703 | $2.61M | $1.16M |
| 82 | Withdrawal | $2.61M | $0 | $130,322 | $137,835 | $27,567 | $0 | $0 | $0 | $17,047 | $127,315 | $2.61M | $1.14M |
| 83 | Withdrawal | $2.61M | $0 | $130,472 | $140,591 | $28,118 | $0 | $0 | $0 | $17,503 | $129,976 | $2.61M | $1.11M |
| 84 | Withdrawal | $2.61M | $0 | $130,497 | $143,403 | $28,681 | $0 | $0 | $0 | $17,965 | $132,688 | $2.61M | $1.09M |
| 85 | Withdrawal | $2.61M | $0 | $130,387 | $146,271 | $29,254 | $0 | $0 | $0 | $18,434 | $135,451 | $2.60M | $1.07M |
| 86 | Withdrawal | $2.60M | $0 | $130,134 | $149,197 | $29,839 | $0 | $0 | $0 | $18,908 | $138,266 | $2.59M | $1.04M |
| 87 | Withdrawal | $2.59M | $0 | $129,728 | $152,181 | $30,436 | $0 | $0 | $0 | $19,389 | $141,134 | $2.58M | $1.02M |
| 88 | Withdrawal | $2.58M | $0 | $129,157 | $155,224 | $31,045 | $0 | $0 | $0 | $19,878 | $144,057 | $2.57M | $992,725 |
| 89 | Withdrawal | $2.57M | $0 | $128,412 | $158,329 | $31,666 | $0 | $0 | $0 | $20,373 | $147,036 | $2.55M | $966,203 |
| 90 | Withdrawal | $2.55M | $0 | $127,481 | $161,495 | $32,299 | $0 | $0 | $0 | $20,875 | $150,071 | $2.53M | $938,865 |
This deterministic illustration uses smooth annual returns. Wealth tax is deducted annually; capital gains tax applies only to the estimated gain share of retirement sales after the entered exemption, using proportional cost basis. It does not model other deductions, account types, tax lots, loss offsets, fees, market volatility, changing tax rules or sequence-of-returns risk.
HOW TO USE THIS
A complete path is still
a scenario, not a promise.
Start with conservative assumptions and test the whole lifecycle. A smooth annual return cannot represent real market order, fees or future tax rules, so use the result to find fragile assumptions and better questions—not one guaranteed retirement date.
RETIREMENT LIFECYCLE EXPLAINED
What this calculator answers—and how to read it.
This retirement lifecycle calculator tests whether your current investments and future contributions can support inflation-adjusted retirement spending through a chosen planning age while preserving an optional estate target. It connects accumulation and withdrawals in one year-by-year scenario instead of treating retirement as a single target number.
CALCULATION PATH
How the retirement lifecycle model works.
Each year is processed in the same order so the result can be inspected in the table rather than hidden behind one final number.
- 01
Build the accumulation path
The model starts with invested savings and cost basis, adds contributions and one-time cash flows, applies the selected accumulation return, and deducts any annual wealth-tax assumption. Contributions stop at the planned retirement age.
- 02
Calculate the retirement cash need
From retirement onward, annual spending can rise with inflation. Other retirement income reduces the amount that must come from the portfolio, but only after the age when that income begins.
- 03
Estimate the gross portfolio sale
When a withdrawal is needed, the calculator estimates how much must be sold to cover both net spending and capital-gains tax. Only the modelled gain share above the entered exemption is taxed; cost basis falls proportionally with the sale.
- 04
Solve the required retirement balance
The model searches for the smallest balance at retirement that can fund the selected path through the planning age and still leave the inflation-adjusted estate target. It then compares that requirement with the balance projected from today.
Core relationships
- Net portfolio need
- max(0, retirement spending − other income)
- Surplus or shortfall
- projected assets at retirement − required assets at retirement
- Today’s-money value
- future balance ÷ (1 + inflation)ⁿ
- Required balance
- the lowest retirement balance that reaches the planning age and estate target in this scenario
INPUT GUIDE
Use internally consistent assumptions.
The calculator is most useful when every input belongs to the same currency, tax interpretation and purchasing-power convention. Start with a base case, then change one uncertain assumption at a time.
Ages and horizon
Current age sets year zero. Retirement age ends contributions and starts potential withdrawals. Planning age should extend beyond the age you merely expect to reach so the scenario includes a longevity margin.
Savings, basis and contributions
Current invested savings are assets available to this plan. Cost basis is the portion originally invested, used only for the simplified gain calculation. Monthly contributions apply before retirement and can rise with inflation plus an extra growth rate.
Spending, income and estate
Enter first-year retirement spending and the desired final estate in today’s money. Other recurring retirement income starts at the age you choose. Positive one-time cash flows add assets; negative ones represent a future expense.
Returns, inflation and tax
Returns are nominal, before inflation. Wealth tax is an annual percentage of the modelled portfolio. Capital-gains tax applies only to the estimated realised gain above the entered exemption. These are user-defined scenario rates, not jurisdiction presets.
WORKED EXAMPLE
Follow the default scenario from age 40 to 90.
The page opens with a reproducible illustration—not a recommended plan. Its purpose is to show how the outputs connect.
Starting scenario
- $400,000 invested at age 40, including $300,000 cost basis
- $3,000 monthly contributions until retirement at 55
- $60,000 first-year retirement spending and $12,000 other income from age 67
- 7% nominal accumulation return, 5% retirement return and 2% inflation
- 15% capital-gains tax, no wealth tax, and a $250,000 estate target at age 90
Model output
- About $2.19 million projected at retirement
- About $1.87 million required at retirement
- $320,131 modelled surplus
- $0 additional monthly contribution in this smooth-return base case
The correct reading is: this set of assumptions funds the deterministic scenario. It does not mean a real portfolio is guaranteed to produce the same return order, tax outcome or spending path.
RESULT GUIDE
Read the outputs together, not as isolated scores.
Projected at retirement
The opening portfolio balance at the selected retirement age under today’s savings, future contributions, cash flows, smooth returns and annual wealth-tax input.
Needed at retirement
The minimum modelled balance that reaches the planning age after spending, other income, taxes and one-time cash flows while preserving the selected estate target.
Surplus / shortfall
Projected assets minus required assets. A positive number is scenario headroom; a negative number is the modelled funding gap—not a probability of failure.
Additional monthly contribution
If there is a shortfall, this estimates the extra monthly saving needed before retirement under otherwise unchanged assumptions. It is not shown as a recommendation.
Nominal and today’s dollars
The nominal line shows future currency amounts. The today’s-money line removes the selected inflation assumption so future purchasing power is easier to compare with current spending.
Year-by-year table
Use the table to audit the transition: contributions, returns, spending, income, special cash flows, estimated taxes, withdrawals and ending assets are visible for every age.
A better way to test a retirement plan
- Save one base case, then create a lower-return version instead of tuning only the optimistic path.
- Change one lever at a time—retirement age, spending, contribution or income—so the cause of the difference stays visible.
- Use the separate resilience stress test for bad timing; this lifecycle model intentionally uses smooth annual returns.
- Verify tax, pension, account and benefit rules with current official sources for your own jurisdiction before acting.
COMMON QUESTIONS
Retirement lifecycle calculator Q&A.
How much money do I need at retirement?
There is no universal number. In this calculator, the required amount is the smallest retirement balance that funds your selected inflation-adjusted spending, other income, taxes, cash flows, planning age and estate target under the return assumptions you entered.
How is this different from a simple FIRE number calculator?
A simple FIRE number often divides annual spending by a withdrawal rate. This model instead simulates every year before and after retirement, including contributions, changing income, inflation, one-time events, an estate target and simplified taxes.
What return should I enter before and after retirement?
Use assumptions consistent with your portfolio, fees and risk, then test lower values. The post-retirement return may be different if your asset allocation changes. One precise percentage should be treated as a scenario, not a forecast.
Should retirement spending increase with inflation?
Keep the inflation toggle on when you want roughly stable purchasing power. Turn it off only when testing fixed nominal spending or when you have modelled spending changes elsewhere. Real spending rarely follows one perfect path.
How does pension or other retirement income affect the result?
Recurring income reduces the annual amount withdrawn from the portfolio from its selected starting age. Enter only income that is reasonably dependable and use the same currency and inflation convention as the rest of the scenario.
What does investment cost basis mean here?
It is the portion of the current portfolio treated as originally invested capital. The model uses the ratio of basis to portfolio value to estimate the taxable gain share of retirement sales. Actual tax lots and local tax rules can produce different results.
What does depletion age mean?
It is the first modelled retirement age at which the portfolio ending balance reaches zero. It reflects the assumptions on this page and is not a predicted real-world failure date.
Does the calculator include sequence-of-returns risk?
No. It applies a smooth annual return, so an early market decline and a later recovery with the same average are not distinguished. Use the result as a baseline and run a separate stress test for poor market timing.
Why can a funded result still be fragile?
A small surplus can disappear when returns, spending, retirement age, income or tax assumptions change. Compare several conservative cases and pay attention to which single input can reverse the result.
Is this financial or tax advice?
No. It is an educational scenario tool. It does not know your legal jurisdiction, account structure, investment fees, benefits, health costs or full household circumstances.
Evidence and model boundary
The calculator’s model card below publishes its version, one deterministic test case, limitations and references. The arithmetic is covered by automated checks, but the economic assumptions remain yours.
Open the model cardMODEL CARD
Check the model before you trust the result.
- Model version
- 1.1
- Last reviewed
What is calculated
The model advances one year at a time through accumulation and retirement. It applies smooth nominal returns, optional inflation adjustments, user-entered income and cash flows, annual wealth tax, and a proportional-cost-basis estimate for taxable retirement sales.
Reproduce one result
For a $100,000 portfolio with a $60,000 cost basis, a $12,000 net spending need, no exemption and a 15% capital-gains rate, the model sells $12,765.96: $12,000 for spending and $765.96 for estimated tax.
What is not claimed
It is jurisdiction-neutral and includes no tax presets. It does not model account order, tax lots, loss offsets, fees, benefit rules, market volatility or sequence-of-returns risk.
Reference material
Verification and changes
The production formulas above are covered by deterministic automated checks. Version 1.1 makes the evidence, reference case and limits visible; it does not change the default assumptions.
Material calculation corrections will update this version and review date. See our correction policy.
EVIDENCE SNAPSHOT
What this tool is built on.
Retirement Lifecycle Calculator. Connects accumulation and retirement withdrawals in one year-by-year lifecycle scenario with inflation, income, tax and estate inputs.
This is implementation evidence, not professional certification. Assumptions and limits matter more than a badge. Correction policy.
- Model version
- 1.1
- Last reviewed
- Evidence basis
- Published formulas using your inputs
- Data status
- No live feed; results change only with your inputs
- Decision sensitivity
- Financial assumptions matter
CITE THIS TOOL
Let readers return to the same version.
This citation includes the tool name, model version, review date and stable URL. Citation does not imply Rich2Fire endorses third-party content.
Rich2Fire. (2026). Retirement Lifecycle Calculator (model version 1.1, reviewed 2026-10-10). https://rich2fire.com/tools/retirement-lifecycle-calculator