Retirement tool
Will my money outlast me?
Planning to the average life expectancy means a coin-flip chance of outliving your money. This calculator shows when savings run out and how likely you are to still be living then, using the SSA life table.
Will my savings last?
Money lasts until
age 88.4
23.4 years
Chance you outlive it
42%
Probability of being alive when the money runs out
1 in 4 live past
age 92
Spending that lasts to the 1-in-10 age
$29,719/yr
Funds savings through age 96
Assumes a steady inflation-adjusted return and spending, with no Social Security or pension income counted (subtract those from spending first). Real returns vary year to year; this is a longevity illustration, not financial advice.
Plan for the long tail, not the average
Retirement planners often plan to the age that only one in four, or one in ten, people reach. Here is how far that is beyond the average:
| Age now | Sex | Average age reached | 1 in 4 reach | 1 in 10 reach |
|---|---|---|---|---|
| 60 | Female | 84.7 | 92 | 96 |
| 60 | Male | 81.8 | 89 | 94 |
| 65 | Female | 85.7 | 92 | 96 |
| 65 | Male | 83.1 | 90 | 94 |
| 70 | Female | 86.8 | 93 | 97 |
| 70 | Male | 84.7 | 90 | 95 |
| 75 | Female | 88.1 | 93 | 97 |
| 75 | Male | 86.4 | 91 | 95 |
How to use the result
If the chance of outliving your money is above about 10–15%, consider spending a bit less, delaying Social Security for a larger lifetime benefit, or using some savings for guaranteed lifetime income such as an annuity. A fee-only planner can test the plan against real market ups and downs, which this simple model does not.
Survival: SSA 2023 period life table. Constant real return and spending assumed. This is a longevity illustration, not investment or financial advice.
Questions
What age should I plan my retirement savings to last?
Many planners use the age that only 1 in 4 or 1 in 10 people reach, often the early to mid 90s for a 65-year-old, rather than the average. Planning only to the average leaves roughly a 50% chance of running short.
Does this include Social Security?
No. Subtract Social Security, pensions and other guaranteed income from your yearly spending first, and enter only the amount that has to come from savings.