ToolForage.
INVESTING CALCULATOR

SWP Calculator

Model fixed monthly withdrawals and see whether a fund lasts through the chosen period.

Calculator

%
years
YOUR RESULTS
Remaining fund0.00
Total actual withdrawals
1,389,757.81
Modeled net investment change
389,757.81
Fund depletion
Month 139

Remaining fund by year

Amounts use the same currency as your inputs.

Fund balance
0469.2K938.3K135791214161820Year

Year 20

Cumulative withdrawals
1,389,757.81
Remaining fund
0.00

Select a year to inspect its values.

Annual withdrawal summary
Annual withdrawal summary
YearCumulative withdrawalsRemaining fund
1120,000.00938,322.19
2240,000.00872,840.22
3360,000.00803,319.48
4480,000.00729,510.84
5600,000.00651,149.85
6720,000.00567,955.72
7840,000.00479,630.36
8960,000.00385,857.29
91,080,000.00286,300.50
101,200,000.00180,603.27
111,320,000.0068,386.86
121,389,757.810.00
131,389,757.810.00
141,389,757.810.00
151,389,757.810.00
161,389,757.810.00
171,389,757.810.00
181,389,757.810.00
191,389,757.810.00
201,389,757.810.00

Understanding your result

Total withdrawals are the money actually available to pay out. If a scheduled withdrawal exceeds the remaining fund, the model pays the available amount and stops further payouts. The fund never becomes a negative loan balance.

For a target fund that supports expenses rising with inflation each year, use the Retirement Corpus Calculator and specify the finite retirement period to fund.

The formula

End-month balance = max(0, previous balance × (1 + annual return ÷ 12) − planned withdrawal). Actual payout = min(planned withdrawal, available fund).

The annual return is nominal and divided by twelve. In start-month mode, the withdrawal comes before growth. Net investment change equals ending balance plus actual withdrawals minus the opening fund, so withdrawals themselves are not counted as investment losses.

The final partial payment

An opening balance of 250, zero return, and a planned withdrawal of 100 pays 100 in month one, 100 in month two, and 50 in month three. Total withdrawals are 250 and the fund is depleted in month three.

How to use this calculator

  1. Enter the fund available before the first withdrawal.
  2. Set the monthly payout and a hypothetical annual return, which may be negative.
  3. Check the depletion message as well as the annual balance table.

A withdrawal is not the same as income

A systematic withdrawal can distribute both capital and investment gains. Receiving a monthly payment does not prove that the portfolio earned that amount. Compare cumulative payouts with the remaining fund to understand how much capital is being consumed.

The payout stays fixed in nominal money. Inflation will reduce its purchasing power. Increasing withdrawals every year would require a different cash-flow schedule, and actual market losses early in the plan may cause depletion sooner than a smooth-return projection suggests.

Assumptions & limitations

What this calculation assumes

  • The opening fund receives no new contributions.
  • The planned monthly withdrawal stays constant.
  • All months use the same modeled return.

What to keep in mind

  • No tax, exit load, fees, inflation increases, or market return sequence is included.
  • A non-depletion result only applies within the entered horizon and assumptions.

Common questions

Can I enter a negative return?

Yes. Negative return scenarios reduce the balance before or after withdrawals according to the timing selected. They are useful stress scenarios, not market forecasts.

Does the model keep paying after depletion?

No. The last payout may be partial. Subsequent years show zero fund balance and no additional withdrawals.

Sources & further reading