How Long Will Your Savings Last?

Calculator Tutorial - How Long Will Your Savings/Retirement Last?

  1. Enter the total balance for Savings & Retirement Accounts:
    • Acceptable Saving Accounts: checking account, savings accounts, CDs, and personal brokerage accounts.
    • Acceptable Retirement Accounts: Roth IRA, 401k, Rollover IRA, SEP IRA and any other retirement accounts.
  2. Enter Your Monthly Spend:
    • We recommend using your current monthly spend, if you're not sure try using our online budget calculator to estimate what you're currently spending.
  3. Updating Calculations:
    • After clicking on the update button, you'll be able to see in Days, Months, and Years how long you'll be able to live off your savings and retirement accounts.
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How Much Do You Need In Savings?

We recommend having enough in savings to cover at least 6 months worth of your expenses. This should provide you with a cushion in case of job loss or a unexpected expense. With that being said, for those of you who have a considerable amount of high interest rate debt, this may not be the best option for you.

What Should I Do If I Have A Considerable Amount of High Interest Rate Debt?

For those individuals with a high interest rate (above 10% APR) you should focus on paying off that debt off before you build your up your savings.