Welcome to the Optimal Retirement Income Calculator for 2025

This tax-efficient calculator is based on award-winning published research.

2022 Best Paper Award from the CFP® Academic Research Colloquium, Sponsored by Charles Schwab.
Published in Financial Service Review, vol. 30 (2022). "Seeking Tax Alpha in Retirement Income"
2018 Best Paper Award in Financial Planning, Sponsored by the CFP® Board of Standards.
Published in the Financial Services Review, vol. 28 (2020): "Toward constructing tax efficient withdrawal strategies for retirees with traditional 401(k)/IRAs, Roth 401(k)/IRAs, and taxable accounts"
2015 Best Paper Award in Retirement Income Planning, Sponsored by the American College.
Published in Decision Sciences, vol. 48 (2017): "Optimal Strategies for Trditional vs. Roth IRA/401(k) Consumption During Retirement"

With this application, you will be able to answer fundamental questions about your retirement.

How long will my portfolio support my annual after-tax retirement income needed to support discretionary and non-discretionary expenses?
How much will my heir or favorite charitable organization receive?
What will my future tax liabilities look like?
Should I perform any Roth Conversions?

Here is a short list of calculator features. + Expand/Shrink

You can also watch a 90-minute demonstration video hosted by the Financial Experts Network.

Plan Inputs

No Client Selected

Please enter current or estimated values for your retirement plan.

Please enter information about yourself. For registered users, this model uses data from your profile. + Expand/Shrink

	Your Age at Start of Retirement	More Info
years	Your Retirement Horizon	More Info
	Your Birth Month
	Your Birth Year
	Do you have a spouse or domestic partner?
	Your state of Residence

Please enter information about your spouse or domestic partner. For registered users, this model uses data from your profile If you do not have one, please skip to the next table. + Expand/Shrink

	Your Spouse's Age at Start of Retirement
years	Your Spouse's Retirement Horizon
	Your Spouse's Birth Month
	Your Spouses Birth Year

Please enter information about your future AFTER-TAX income needs. This calculator ensures this need is met over your retirement horizon using all available assets and other income sources that you enter below. + Expand/Shrink

$	Your Desired Annual After-Tax Retirement Income	More Info
$	Surviving Spouse Desired Annual After-Tax Retirement Income

Please enter information about your retirement savings accounts. + Expand/Shrink

Not yet retired? You can forecast account balances and cost bases with our Pre-Retirement Savings Forecasting Tool.

$	Retiree's Tax-deferred Account Balance
$	Retiree's Tax-exempt Account Balance
$	Retiree's Taxable Account Balance
%	Retiree's Fraction of cost basis for stocks in their Taxable Account
%	Retiree's Fraction of cost basis for bonds in their Taxable Account
%	Retiree's Initial Stock Allocation (Bond Allocation=100%-Stock Allocation)
%	Glide path to transition from stocks to bonds (per year)

Please enter information about your spouse's accounts. If you do not have a spouse, please disregard this information, as these values will have no impact on your retirement income plan. + Expand/Shrink

Not yet retired?You can forecast account balances and cost bases with our Pre-Retirement Savings Forecasting Tool.

$	Spouse's Tax-deferred Account Balance
$	Spouse's Tax-exempt Account Balance

Please enter information about your other income sources. + Expand/Shrink

When to start your Social Security retirement income benefits?

Try this free open-source Social Security strategy calculator

	Age Retiree Starts Taking Social Security
$	Retiree's Annual Pre-tax Social Security (inflation adjusted)
	Age Retiree Starts Taking Pension or Annuity Income
$	Retiree's Annual Pre-tax Pension or Annuity (not inflation adjusted)

Please enter information about your spouse's other income sources. If you do not have a spouse, please disregard this information, as these values will have no impact on your retirement income plan. + Expand/Shrink

When to start your Social Security retirement income benefits?

Try this free open-source Social Security strategy calculator

	Age Spouse Starts Taking Social Security
$	Spouse's Annual Pre-tax Social Security (inflation adjusted)
	Age Spouse Starts Taking Pension or Annuity Income
$	Spouse's Annual Pre-tax Pension or Annuity (not inflation adjusted)

Please select other tax-related information.

+ Expand/Shrink

%	Heir's Tax Rate
	Inherited IRA withdrawals stretched over 10 years?
%	Percent Increase of tax rates after TCJA expiration
	Select the year the TCJA expires

Please review and modify future rates based on their long-term historical norms, if needed. + Expand/Shrink

%	Annual Inflation Rate
%	Annual Rate of Return for Stocks
%	Annual Rate of Return for Bonds
%	Stock Annual Qualified Dividend Rate
%	Bond Annual Non-qualified Coupon Rate

Thank you for using our retirement income calculator. If you see any issues you would like to report, please send us your feedback!