My Retirement Tool

💡 What can I afford to spend in retirement?

Based on your SS, pension, IRA, and all income streams

Plan to age:

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The four summary cards — Your most important numbers: net worth at retirement, IRA balance at retirement, when (or if) money runs out, and how much better or worse off you are by downsizing vs. staying put.

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The runway bar — This colored bar shows how your retirement years break down. Green = working. Yellow = drawing cash savings. Blue = drawing IRA. Red = shortfall (running out). Minimize the red.

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Left chart — Your IRA and cash balance year by year. Watch for where the lines approach zero — that's when an account runs low.

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Right chart — Compares your net worth if you keep your home vs. sell and downsize. The gap shows the long-term financial impact of that decision.

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Alert messages — Colored boxes showing key events: when your IRA depletes, when a shortfall begins, and the financial impact of your home sale. Red = problem, green = you're on track.

💡 Quick tip: Check this page every time you change a number in Inputs. It updates instantly — it's your feedback loop for "what happens if I..." questions.

Net worth over time

Home sale impact on net worth

🖊️

What makes this page special — Every yellow cell is editable. You can override any number for any specific year without changing your overall plan. This is how you model real life — things don't go perfectly to plan.

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Salary overrides — Taking a pay cut in 2027? Working part-time in 2028? Type the actual expected amount. The cell turns amber to show it's overridden. Clear it to go back to your assumption.

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Expense overrides — Big trip in 2029? New roof in 2030? Enter a higher expense for that specific year — the model shows exactly how it affects your cash and IRA.

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Balance overrides — The IRA Bal. and Cash Bal. columns let you enter actual balances from your real account statements. This anchors the projection to reality and recalculates everything forward.

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Highlighted rows — Green 🏠 = home sale year (cash injection). Amber 🏘️ = home purchase year, if you buy a new home in a different year (cash outflow). Blue 🎯 = your retirement year. These are the major turning points in your plan.

💡 Quick tip: The most powerful use of this page: once a year, enter your actual IRA and cash balances from your statements. That keeps the projection accurate as real life unfolds.

Yellow = enter your actual numbers ■ Working ■ Draw cash ■ Draw IRA ■ Reserve

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What this page is for — This is your personal budget breakdown across 6 spending scenarios — what you spend today, what you plan in retirement, bare minimum, comfortable, luxury, and one more for anything else you want to model.

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How to fill it in — Click any input cell and type a monthly dollar amount. If you pay $1,200/year for car insurance, enter $100. Subtotals and totals calculate automatically.

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Sections — Each section (Housing, Daily Living, Transportation, Health, etc.) has its own subtotal. Click any section name to rename it, use ✕ to remove rows, and + to add new expense items.

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Section percentages update live — Look at each section header row (Housing, Daily Living, etc.). The small badge under every budget column shows that section's share of your total spend for that scenario — for example, Housing might be 41% of your Current budget but only 28% of your Necessity budget. This is one of the most useful ways to spot where your money really goes and where you have room to cut.

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The 6 columns — "Current" = what you spend now. "Proj. Retirement" = expected retirement spending. "Necessity" = bare minimum. "Nice to Have" = comfortable. "Luxury" = the good life. "Other" = a spare column for any additional scenario you want to model (rename it to whatever you like).

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Bottom totals — The totals table shows monthly and annual amounts, how much Social Security covers, and how much additional income you'll need from savings.

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Bar chart — Monthly spend by scenario — Each stacked bar is one scenario, and the colored segments break your total down by section (Housing, Daily Living, etc.). Hover over any segment to see the dollar amount and its percentage of that scenario's total — a quick way to compare where money really goes across scenarios.

💡 Quick tip: Fill in "Current" and "Proj. Retirement" first — those two columns drive most of the calculations in the rest of the tool.

Budget periods — your monthly spending plan

Set one or more budget periods. Each has a start year, end year, and monthly amount — so you can spend more in early "go-go" years and less later. Amounts are monthly and inflate automatically. This is the spending figure your whole plan runs on.

Not sure what to spend in retirement? Just enter your current monthly budget for now, then keep moving through the tabs: go to Home Equity for your housing plan, then Net Worth to fill in your assets and liabilities. Once those are done, the Smart Budget tab automatically figures out the most you can safely spend across your whole life projection — and can apply that amount back to your plan for you.

💡 Not sure what's sustainable? Go to Smart Budget to find your maximum sustainable spending, then Apply to Plan. If you've set multiple periods, it scales them all proportionally to fit.

Monthly Budget Planner

Enter your actual amounts. All columns calculate automatically. Every input cell is editable. Tip: click any column heading to rename that budget.

SS income covers 0% of projected retirement budget

	Expense Category
Monthly amounts · click a column name above to rename it · click any cell to edit · subtotals auto-calculate

Monthly spend by scenario

🏠

Your current home — Enter your home's current value and how fast you expect it to grow each year (3% is typical). Add your mortgage balance, rate, and monthly payment.

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Sale year — The year you plan to sell. The tool will calculate how much equity you'll have by then — home values and your remaining mortgage balance are projected to that year.

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Your new home — Enter where you'll move: a condo, smaller home, or nothing (enter 0 if you'll keep renting). Set a purchase year if you plan to sell now and buy later — leave it blank to buy the same year you sell. While renting in between, you'll hold the sale proceeds as cash with no mortgage. Include any new mortgage, closing costs, and monthly HOA fee.

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Cash freed up — The tool automatically calculates your net cash from the sale: home value minus mortgage payoff, selling costs, and new home purchase. This cash goes directly into your retirement pool.

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Comparison chart — On the Dashboard you'll see "Stay Put vs. Sell & Downsize" — showing the long-term net worth difference between keeping your home and moving.

💡 Quick tip: Even if you're unsure about selling, enter your home details anyway. The comparison chart on the Dashboard is one of the most valuable features in this tool.

Home equity — sell, downsize, or stay put

Model what happens if you sell your current home and move to a smaller home or condo. The equity difference flows into your cash position and feeds through the spending waterfall.

Apply this housing plan to my plan

When ON, the Dashboard, Net Worth, Runway and projections include selling your home and moving. When OFF, the plan keeps your current home (stay put).

Current home Equity: $0

Current market value ($)

Appreciation rate (%/yr)

Planned sale year

Selling costs & agent fees (%)

Mortgage balance ($)

Mortgage rate (%)

Monthly payment ($)

Enter your principal + interest payment (not including taxes/insurance). The tool calculates the year your mortgage is paid off below.

Downsize target (new home / condo) Equity gain: $0

Purchase price ($)

Purchase year

Appreciation rate (%/yr)

New mortgage (if any) ($)

New mortgage rate (%)

New monthly payment ($)

Closing costs / moving ($)

HOA / condo fee / month ($)

Base vs downsize — net worth comparison

🎯

The strategy: fill your tax bracket each year — Look at your taxable income each retirement year, find how much room is left before the next bracket, and convert that much. Pay 22% now, avoid 32%+ on RMDs later. The optimizer calculates this automatically from your actual income each year.

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Brackets grow with inflation — The IRS adjusts tax bracket ceilings for inflation every year (typically 2–3%). A 22% bracket ceiling of $94,300 today becomes ~$127,000 in 10 years at 3% inflation — meaning more headroom to convert as time goes on. This tool applies your inflation rate to project bracket ceilings forward.

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Roth draws are tax-free — When calculating how much headroom you have, Roth draws don't count as taxable income. Only IRA draws and SS income count. This means you can often convert more than you'd think, because your Roth spending doesn't push you into a higher bracket.

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Choose when to convert — Use the "Convert during which years?" dropdown. The sweet spot is after you stop working (income drops) and before RMDs force taxable withdrawals at your RMD age (73 or 75, by birth year) — but converting a few years into RMD age can still help. Pick the period and the tool shows the schedule and the lifetime tax effect.

💡 Tip: The 22% bracket is the sweet spot for most retirees — wide enough to convert meaningful amounts, low enough that future RMD taxes at 24–32% make the conversion clearly worthwhile.

Target bracket ceiling — convert up to top of:

Convert during which years?

Roth return rate (%)

Bracket ceilings are inflation-adjusted forward each year using your inflation rate from Inputs. Tax rates are your retired rate from Inputs.

Apply Roth Strategy to Plan

When ON — Dashboard, Runway, Plan Summary and Year-by-Year all reflect Roth conversions and draws

OFF

Spend-down order for retirement draws

When funding the IRA portion of each year's spending, which tax-advantaged account is tapped first. Only affects years that draw from retirement accounts.

Roth first, then Traditional IRA Default

Draw tax-free Roth dollars first. Keeps taxable income low in later years — helps manage brackets, Social Security taxation, and IRMAA. Best paired with early conversions.

Traditional IRA first, preserve Roth

Spend taxable IRA dollars first and let the Roth compound tax-free as long as possible. Often best when leaving the Roth to heirs or later-life brackets are already low.

IRA + Roth balance — with vs. without conversions

Tax burden — conversion cost vs. RMD taxes

Your conversion schedule

How these numbers are estimated: Conversion and lifetime tax figures use your single effective tax rate applied to taxable income, fill to the top of your selected bracket (inflation-adjusted) net of the standard deduction, and assume the conversion tax is paid from outside cash. This is a planning model — it does not capture graduated brackets, state tax, capital-gains treatment, IRMAA Medicare surcharges, or future tax-law changes. Treat the output as a directional comparison and confirm specifics with a tax professional before converting.

Total Net Worth Today

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Enter your assets in Inputs and Home Equity to see your net worth

💎

What net worth means — Everything you own minus everything you owe. If you sold everything and paid all debts, net worth is what you'd keep. This page tracks that number year by year.

🏠💵🏦

What's included automatically — Your IRA/401k, cash savings, and current home value (minus mortgage) are automatically included from what you entered in Inputs and Home Equity.

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Adding other assets — Rental property? Investment account? Boat? Click "Add Asset" and enter its current value and expected annual growth rate.

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Adding other debts — Car loan? Credit card balance? Click "Add Debt" so your net worth picture is accurate.

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The net worth chart — Projects your total net worth over time. Rising = good. Even if it declines in retirement as you draw down savings, the goal is to stay positive through your plan end date.

💡 Quick tip: Net worth is a snapshot, not a cash flow number. A high net worth doesn't guarantee you won't run short on cash year-to-year. Always check the Dashboard and Runway pages too.

Your net worth over time

Slide the bar to see your projected net worth in any year — from today on the left to the end of your plan on the right. Add other assets and debts on the Inputs page.

Net worth in —

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Today End of plan

Net worth snapshot — today

Other assets

Home, vehicles, rental property, second accounts, valuables — anything else you own. Feeds your net worth across every tab.

Other debts

Car loan, credit card, personal loan — anything you owe besides your mortgage.

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What "runway" means — Runway is simply how many years your retirement savings will last. A plane needs enough runway to take off — you need enough savings to last through retirement. This page answers: "Will I run out?"

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The runway chart — Shows IRA and cash balances declining over time. Where a line hits zero is when that account runs out. A solid plan keeps both lines above zero all the way to your end year.

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The end year line — The chart extends to your planning horizon. You want both balance lines to stay positive until then — ideally with something left over.

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If the line hits zero early — Go back to Inputs and try: lowering your retirement monthly budget by even $300-500/month, downsizing your home and adding the proceeds to your plan, or delaying your retire year by one or two years. Small changes can add years of runway.

💡 Quick tip: Try this: lower your retirement budget by $500/month in Inputs, then come back here. See how many more years that buys you. Small monthly savings compound into many extra years.

IRA & cash runway

Key events

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What you're looking at — Every year from now until your plan end date, one row per year. It's your complete retirement financial story in a single table.

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The blue highlighted row — This is your retire year — the year your salary stops. Working years are above it, retirement years below.

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Reading the columns — "Total In" = all money coming in. "Total Out" = all money going out. "Shortfall" = any gap if you come up short. "IRA End" and "Cash End" = your balances at year-end.

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Warning signs to watch — If Shortfall shows a number, there's a gap that year. If IRA End hits zero, your IRA is depleted. If Cash End drops near your reserve amount, liquid savings are nearly gone.

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Charts below — Two charts: IRA and cash trends over time, and income sources stacked by year (salary, Social Security, IRA draws).

💡 Quick tip: The "Shortfall" column is the most important one. Any year showing a number there means expenses exceed all income — you'll need to close that gap by lowering spending, adding income, or drawing on assets like your home.

Retirement Plan Summary

Annual financial projection · active scenario shown

About the Tax column: Taxes are planning estimates, not exact return figures. This tool applies your single effective tax rate to taxable income (about 85% of Social Security plus other income, IRA withdrawals, and RMDs), and adds the Roth conversion tax in any conversion year. It does not model graduated brackets, state taxes, capital-gains rates, IRMAA surcharges, or deductions beyond the standard deduction. Use it to compare scenarios directionally, and confirm actual numbers with a tax professional.

IRA & cash balances

Annual income sources

Monthly budget breakdown

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Plan Horizon — Start with your birth year (and your spouse or partner's, if applicable). Then set your plan start year (usually this year) and plan end year (how far out to project — a common target is age 90 or 95).

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Income — Enter your current annual salary, an annual raise percentage so your pay grows realistically, and any bonus or commission as a percentage of your salary (it scales automatically as your pay grows). If your spouse or partner also works, add theirs the same way. Each earner has their own numbers.

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Retire Year — The year each person's salary stops. You and your spouse can have different retire years. Your expenses don't have to drop at the same time — you can keep your current spending level for a few years after retiring and switch to a lower retirement budget later.

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Social Security — Enter your estimated monthly SS benefit and the year you plan to start claiming (leave the start year blank to default to age 62, the earliest). Do the same for your spouse. Not sure of the amount? Visit SSA.gov and use their estimator.

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SS COLA rate — How much Social Security grows each year to keep up with inflation. 2–3% is typical. Applied to both your and your spouse's SS.

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Additional Income & Investments — Taxable Brokerage — This is the first account in the Additional Streams section. A brokerage account outside your IRA/401k (like a Vanguard or Fidelity taxable account). Enter the balance, expected return rate, and any annual contributions. It grows alongside your IRA and counts toward net worth separately.

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Other streams below Brokerage — Pension (with start year and optional COLA), annuity (fixed monthly payment with start/end years), bonds/CDs/Treasuries (balance + yield → annual interest), rental income (net after expenses), part-time or consulting work, and repeatable "Other Annual Income" for anything else. Every stream you add reduces how much the plan pulls from your IRA.

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Cash & Retirement Plans — Enter what you have today: your savings/checking balance, the minimum cash cushion you always want to keep on hand (the "reserve" — the tool won't spend below this), your IRA/401k balance, annual IRA and 401k contributions, and the projected average annual return rate for each account.

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Inflation & Taxes — A general inflation rate (2–3% is common) plus your effective tax rate while working and in retirement. Defaults are provided if you're unsure. These are used to grow your expenses and calculate net vs. gross income year by year.

💡 Quick tip: Fill in the basics first (Plan Horizon, salary, retire year, Social Security, IRA/401k, and cash). Then come back and add pension, annuity, bonds, rental, or consulting income. Each stream you add reduces how much the tool needs to pull from your IRA — extending your runway. When you're done here, head to Budget to set your monthly spending.

Your Information — Build Your Plan

This is where your plan begins. Fill in the fields below with your real numbers to power your Dashboard, Runway, Net Worth, RMDs, and other projections. You don't need to be exact — good ballpark figures give you a reliable picture. A couple of tabs have their own inputs you'll fill in separately: the Budget tab (your detailed monthly spending) and the Home Equity tab (if you plan to sell, downsize, or stay put). Before you start, it helps to have these handy:

Your current age and income — plus your spouse's or partner's, if applicable.
Your Social Security details — your expected monthly payment at your minimum retirement age (find it at ssa.gov).
Any additional or other income and investments — pension, rental, annuity, part-time work, brokerage, and so on.
Your cash & retirement accounts — IRA/401k balances and cash savings; ballpark within a few thousand dollars is fine, they change daily.
Inflation & tax assumptions — a general inflation rate and your working and retired tax rates (defaults are provided if you're unsure).

You'll also enter your monthly budget on the Budget tab and your assets & debts (home, vehicles, loans) on the Net Worth tab.

Plan horizon

Your birth year

Spouse / partner birth year (leave blank if planning just for yourself)

Plan start year

Plan end year (target age)

Income

Your annual income / salary ($)

Your annual raise / salary growth (%)

Your bonus / commission (% of salary)

Your retire year (salary stops)

This is your first full retirement year — the plan assumes no salary from January of this year. If you plan to work through part of 2027 and retire mid-year, enter 2028 (last working year is treated as a full salary year).

Spouse / other annual income / salary ($)

Spouse / other annual raise (%)

Spouse / other bonus (% of salary)

Spouse / other retire year (blank = same as yours)

Same convention — enter their first full retirement year.

Your SS / month ($)

Your SS start year (blank = age 62, earliest)

Spouse SS / month ($)

Spouse SS start year (blank = age 62, earliest)

SS COLA rate (%)

Additional income & investment streams — enter what applies to you, leave blank otherwise

📈 Taxable Brokerage Account

Brokerage balance ($)

Annual return rate (%)

Annual contributions ($)

Stocks, ETFs, mutual funds outside your IRA/401k. Taxed on gains when sold.

🏛️ Pension

Monthly pension amount ($)

Pension starts year

Annual COLA / increase (%)

Enter 0 for most private/corporate pensions (fixed for life). Many government, federal, or military pensions have a COLA — often 2–3% or capped at inflation. Check your plan; a fixed pension loses about half its buying power over ~24 years at 3% inflation.

Fixed monthly income from a former employer. Taxed as ordinary income. Most pensions have no COLA — enter 0 if fixed.

📋 Annuity

Monthly annuity income ($)

Annuity starts year

Annuity ends year (0 = lifetime)

Fixed income from an insurance annuity contract. Partially taxable (earnings portion). Enter 0 for end year if it pays for life.

🏦 Bonds / CDs / Treasuries

Bond / CD balance ($)

Average yield / return (%)

Includes I-bonds, Treasuries, municipal bonds, CDs, bond funds. Interest is taxable income each year (except muni bonds).

🏘️ Rental / Investment Property Income

Net rental income / month ($)

Rental income stops year

Annual rent growth (%)

Net rental income after mortgage, taxes, insurance, and maintenance. For the property itself (value/equity), use the Home Equity tab.

💼 Part-time / Consulting Income

Annual amount ($)

Starts year

Ends year

Consulting, freelance, board positions, part-time work after retiring. Taxed as ordinary income. Enter start/end years for when this income runs.

💵 Other Annual Income

Any other recurring income — alimony, royalties, a trust, side income, etc. Add as many as you need. Leave year fields blank for "always."

Cash & retirement plans or investments

Starting cash / savings ($)

Cash reserve (min cushion)

The minimum cash buffer you always want to keep on hand — your emergency fund and peace-of-mind cushion. The plan won't spend below this level; once your cash reaches it, further needs are drawn from your IRA/401k instead. A common target is 6–12 months of expenses.

Cash / money market return (%)

IRA / 401k balance ($)

Annual IRA contributions ($)

Annual 401k contributions ($)

IRA / 401k projected average annual return rate (%)

Inflation & taxes

Inflation rate (%)

Tax rate — working (%)

Tax rate — retired (%)