How long retirement savings last

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Estimate retirement income. Please enter a valid e-mail address. Your E-Mail Address. Important legal information about the e-mail you will be sending. By using this service, you agree to input your real e-mail address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an e-mail. All information you provide will be used by Fidelity solely for the purpose of sending the e-mail on your behalf.

The subject line of the e-mail you send will be "Fidelity. Your e-mail has been sent. The above example is for illustrative purposes only. Situations will vary according to specific circumstances. While the average Canadian retires at age That said, if you want to retire at age 60 or even 55, you may need to plan for 35 years of retirement or more. That may mean you need to save more for retirement or spend more frugally. Now that you know more about how long your money may last in retirement, you may want to contact your advisor to:.

Learn about options for drawing an income from your retirement savings that may help you not outlive your money. This information is general in nature, and is intended for informational purposes only. For specific situations you should consult the appropriate legal, accounting or tax advisor.

All articles. How long will my retirement savings last? Key takeaways. Our opinions are our own. Here is a list of our partners and here's how we make money. The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. There are many variables at play — investment returns, inflation , unforeseen expenses — and all of them can dramatically affect the longevity of your savings.

The simplest way to do this is to weigh your total savings, plus investment returns over time, against your annual expenses. Try our calculator to get your estimate:. A calculator like the one above can be a helpful guide. Below are some smart rules of thumb on how to withdraw your retirement savings in a way that gives you the best chance of having your money last as long as you need it to, no matter what the world sends your way.

Bengen tested his theory across some of the worst financial markets in U. There are many dynamic withdrawal strategies, with varying degrees of complexity.