How Long Will Your Retirement Fund Last

Q. I have saved 401K in all my working career, by my retirement age of 65, I estimate to have $1.5 million. How long will my retirement fund last?

A. How long will your lifetime savings last depends on a few factors:

1. How much money you plan to withdraw each year? 
2. How much will be your income tax rate at retirement time?  Remember, 401K withdrawals will be subject to income tax now.
3. How large is your balance to start with?
4. How much annual growth rate the remaining balance will be? 

You can use the following tool to do a quick estimate about how long your retirement fund or 401K money will deplete.