Retirement Plan

Portfolio at retirement

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today's dollars

Withdrawal funded for

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years of retirement

Max safe withdrawal

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per year

Verdict

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Text size

ⓘ Educational use only This tool provides financial projections for informational purposes. It is not financial advice and does not constitute a recommendation to act. Consult a qualified financial advisor before making retirement decisions.

Household Retirement Planner

Your Complete
Retirement Picture

Multi-Account · Inflation-Adjusted · Household Income · Social Security

To get your first result: work through the three numbered sections below.
01 Market & Macro Assumptions sets the growth and inflation rates that drive every projection.
02 Your Accounts tells the calculator what you have and how fast you're saving.
03 Household Income & Spending sets your retirement target — spending, Social Security, and horizon.
The sidebar updates live as you go. Everything below those three sections is optional — open what's relevant to your situation.

Getting Started ›

01 —Market & Macro Assumptions

iThese three inputs apply globally to all accounts. CAGR is your expected average annual market return before inflation. Inflation reduces your purchasing power over time. The tax rate applies to taxable brokerage accounts (annual return drag) and Traditional account withdrawals.

Expected CAGR

Inflation Rate

Tax Rate (marginal)

02 —Your Accounts & Ages

Person 1

iAdd up to 4 accounts. Each account type is taxed differently: Roth grows tax-free; Traditional defers taxes until withdrawal; Taxable applies an annual return tax drag. Use the advanced section to add employer match and contribution growth.

Current Age

yrs

Retirement Age

yrs

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Taxable Accounts

Annual return drag applies

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Traditional (Tax-Deferred)

Tax-free growth; taxed at withdrawal

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Roth (Tax-Free)

Tax-free growth and withdrawal

Asset Class Tax-Efficiency Placement Guide iSource: Reichenstein (2006) "After-Tax Asset Allocation"; Daryanani & Bhagat (2008) "Asset Location: A Generic Framework"; Kitces (2015) "The Asset Location Decision For Investment Portfolios." These are general research findings — individual circumstances vary. Not investment advice.

Asset Class	Ideal Location	Annual Tax Drag in Taxable	Why
Taxable bonds, CDs, money market	▣ Traditional	~1.0–1.1% drag	Interest is ordinary income — fully taxable annually. Tax deferral captures the full coupon.
REITs (Real Estate Investment Trusts)	▣ Traditional	~0.8–1.0% drag	High dividend yields taxed at ordinary rates. Deferring inside Traditional shelters the distribution.
High-dividend equity, preferred stock	▣ Traditional ◈ Roth	~0.5–0.7% drag	Dividends taxed at LTCG rates in taxable — better than ordinary, but tax-deferred/free is still superior.
International equity (developed markets)	◉ Taxable	~0.2–0.3% (offset)	Foreign tax credit is only available in taxable accounts — holding international equity in taxable can recapture foreign withholding taxes.
Domestic equity index funds (total market, S&P 500)	◉ Taxable	~0.1–0.2% drag	Low turnover and qualified dividends make broad index funds highly tax-efficient. Taxable is acceptable.
Growth stocks, small-cap equity, high-turnover funds	◈ Roth	~0.2–0.5% drag	Low current income but highest long-term growth potential — Roth shelters all future appreciation tax-free, maximizing the value of the tax-free account.
Inflation-protected bonds (TIPS, I-Bonds)	▣ Traditional	~0.8–1.0% drag	Inflation adjustments are taxed as ordinary income annually ("phantom income") — tax deferral eliminates this.

Your Portfolio — Placement Analysis

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Add account balances in the portfolio section above to see personalized placement flags.

Tax-Drag Estimator — What % of your taxable account holds tax-inefficient assets? iTax-inefficient assets: bonds, CDs, REITs, high-yield funds, actively managed funds with high turnover. Slide to estimate your current exposure and see the annual cost of holding them in taxable vs. Traditional. This is an order-of-magnitude estimate — actual drag depends on specific yields and your marginal rate.

30% of taxable in tax-inefficient assets

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Est. Annual Drag

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10-Year Opportunity Cost

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Drag as % of Taxable

Research basis: Reichenstein, W. (2006). "After-Tax Asset Allocation." Financial Analysts Journal. Daryanani, G. & Bhagat, C. (2008). "Asset Location: A Generic Framework for Maximizing After-Tax Wealth." Journal of Financial Planning. Kitces, M. (2015). "The Asset Location Decision for Investment Portfolios." Kitces.com. Research consistently finds asset location adds 0.5–1.0% annually. This panel presents educational information based on published research and common CFP practice — it is not personalized investment advice. The optimal placement for your specific holdings depends on your complete tax situation, time horizon, and investment objectives. Consult your financial advisor or CPA before reallocating assets between accounts.

03 —Household Income & Spending

iEnter your current gross household income to unlock the Income Replacement Ratio and Savings Rate diagnostics. Social Security income offsets how much your portfolio must cover. Only the gap (spending minus SS) is drawn from investments. A longer horizon means your portfolio must last more years — plan for at least 30.

Current Household Income iEnter total gross household income from all earned sources (W-2, self-employment, etc.). Used to calculate your savings rate and income replacement ratio — core CFP/AICPA planning benchmarks. Does not affect portfolio projections.

Desired Annual Spending

Retirement Horizon

yrs

Person 1 Social Security

＋

Add Spouse
Social Security

▸ Don’t know your Social Security amount? Use the optimizer below — it calculates your benefit and fills in the fields above automatically.

Person 1 iEnter your Primary Insurance Amount (PIA) — the monthly benefit shown on your Social Security statement at your Full Retirement Age. Your birth year sets your FRA automatically.

Birth Year

FRA Monthly Benefit (PIA)

Current Annual Income

Career Start Age

yrs

Years at Current Income

yrs

Earnings Trajectory

iFlat: Constant real earnings throughout career — models self-employed or stable-salary workers.
Rising: Earnings grew over time, current income is near peak — most common for W-2 career professionals.
Peaked: Current income is at or above lifetime peak — lower earlier years pull average down.

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Est. AIME/mo

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Est. PIA/mo

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Likely Range

Estimate based on SSA 2025 bend points ($1,226 / $7,391) applied to projected AIME. Assumes —. For a precise figure, visit ssa.gov/myaccount. Estimated PIA will be labeled "est." in the optimizer.

Claiming Age

Enter birth year and PIA above.

Pension & Defined Benefit Income iModel pension, annuity, or other guaranteed fixed income (teacher/gov't pension, military pay, COLA annuity). Like Social Security, pension income offsets how much the portfolio must cover — reducing the required withdrawal and extending sustainability. Survivor % is the fraction the spouse continues to receive after the pensioner's death.

Person 1 — Pension / Annuity

Annual Benefit iAnnual pension benefit in today's dollars (before COLA growth). Enter the amount you expect to receive at your pension start age.

Start Age iAge when pension payments begin. Often differs from your investment retirement age — some pensions start immediately at separation, others at a fixed age (55, 60, 65).

yrs

COLA Rate iCost-of-living adjustment rate applied annually. Many government pensions have a fixed COLA (e.g., 2–3%). Private pensions often have 0% COLA. Enter 0 for a fixed nominal benefit.

Survivor % iPercentage of the pension benefit that continues to the spouse after the pensioner's death. Common options: 0% (single life), 50%, 75%, or 100% (joint & survivor). A higher survivor % usually means a lower initial benefit.

Lump Sum Offer & Parameters iThe pension annual benefit and COLA are pulled from the Pension section above. Enter the lump sum offer, your investment return assumption, tax rate on pension income, and life expectancy assumptions. The analysis compares the pension annuity against investing the lump sum at your assumed CAGR.

Lump Sum Offer iThe present-value lump sum your plan is offering as an alternative to the monthly annuity. This is usually shown on your pension statement as the "commuted value" or "lump sum equivalent."

Investment Return (CAGR) iExpected annual return on the lump sum if invested. Defaults to your global CAGR assumption. For a risk-adjusted comparison, some advisors use the 30-year Treasury rate (~4.5%) since the pension is a guaranteed annuity.

Tax Rate on Pension Income iMarginal federal + state rate on pension payments. Pension income is ordinary income; lump sum invested in an IRA is also taxed on withdrawal. For a qualified pension and IRA rollover, the tax treatment is equivalent — both pre-tax. Enter 0% to compare gross (pre-tax) amounts.

Life Expectancy iYour assumed age at death. The pension favors long lives; the lump sum favors shorter lives. Try different values to see how sensitive the crossover is. SSA period life tables: male age 65 → median ~84; female age 65 → median ~87.

yrs

30-Year Wealth Comparison iBoth paths start at the pension start age. Pension path: portfolio draws down more slowly because pension income covers part of spending. Lump sum path: pension not taken; lump sum invested at CAGR; withdrawals fund the spending gap the pension would have covered. Wealth = remaining portfolio + PV of remaining pension stream.

Scenario Breakdown

Scenario	Annual Benefit / WD	After-Tax /yr	Breakeven Age	IRR	Value at Life Exp.	Estate at Death	Verdict

Part-Time & Bridge Income iModel consulting, part-time work, or phased retirement income that covers early retirement years before Social Security and full portfolio drawdown begins. Bridge income reduces how much the portfolio must cover during the bridge period — extending overall sustainability. Each person can have a separate income stream with its own start and end age.

Person 1 — Part-Time / Bridge Income

Annual Amount iAnnual gross income from consulting, part-time work, self-employment, or a phased retirement role — in today's dollars. This offsets how much the portfolio must cover during the bridge period.

Start Age iAge when bridge income begins — typically your planned retirement age (the day the full-time career ends). Bridge income starting before your retirement age does not factor into the retirement model.

yrs

End Age iAge when bridge income ends — e.g., age 67 when Social Security begins at FRA, or whenever you plan to stop working entirely.

yrs

Growth Rate iAnnual growth rate of the income stream during the bridge period. Use 0% for fixed consulting rates. Use 2–3% if income is expected to grow with inflation.

Self-Employment Retirement Planning iSolo 401(k), SEP-IRA, and SIMPLE IRA allow self-employed individuals and small business owners to contribute dramatically more than a standard W-2 employee. Enter your net self-employment income to see your exact 2025 contribution limits and choose the right account type. The selected plan links directly to your portfolio projection.

Net Self-Employment Income iYour net profit from self-employment after business expenses, before the SE tax deduction. This is the number on Schedule C (or K-1 for partnerships). The IRS limits contributions to a percentage of this figure after the SE tax deduction is applied.

Age iAge determines catch-up contribution eligibility: standard catch-up at 50+, SECURE 2.0 enhanced catch-up at 60–63. Auto-synced from Person 1 age — edit here to override for a business owner who differs.

yrs

Sole Prop / Single-Member LLC S-Corp (enter W-2 salary)

2025 Contribution Limits — Choose Your Plan

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§ 199A QBI Deduction iThe Section 199A pass-through deduction allows sole proprietors, S-Corp owners, and other pass-through entities to deduct up to 20% of qualified business income (QBI) from taxable income. This deduction is above-the-line for tax purposes — it reduces the income that enters the bracket calculation, lowering your effective marginal rate.

The deduction phases out above $383,900 MFJ / $191,950 Single (2025) and becomes subject to a W-2 wage / property basis limitation. For sole proprietors with no W-2 employees, the deduction is fully eliminated above the phase-out ceiling unless they have significant depreciable property.

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QBI Deduction

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Effective Tax Rate (est.)

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Rate Reduction

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Est. Tax Saving

▸ Optional — Add your household net worth to include home equity or rental income in your retirement projection.

Track assets and liabilities across your household. Toggle home equity or rental income to include them in your retirement projection.

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Total Assets

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Total Liabilities

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Net Worth

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Retirement Assets

Assets $0

Cash & Cash Equivalents

Non-Retirement Investments

₿ Bitcoin iBitcoin is tracked separately due to its unique volatility profile. Enter current value and your expected annual growth rate. Use the integration toggle below to include projected BTC value in your retirement portfolio.

%/yr

iExpected annual growth rate for Bitcoin. Default 20% reflects long-run analyst consensus range but carries extreme uncertainty. Not financial advice.

Retirement Accounts iAuto-populated from the investment accounts entered below. Edit balances in the portfolio section to update this figure.

Current retirement balances (from portfolio) $0

Real Estate

Personal Use Assets

Liabilities $0

Short-Term (< 1 year)

Long-Term Debt

Retirement Plan Integration iThese toggles let non-portfolio assets contribute to your retirement sustainability calculation. Each requires additional inputs to project the value at retirement.

Include home equity proceeds in retirement plan

Enter your primary residence details. Net proceeds (after ~6% selling costs) will be added to your retirement portfolio at your planned sale age.

Home Market Value

Mortgage Balance

Planned Sale Age

yrs

Projected Net Equity

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Include Bitcoin in retirement portfolio projection iUses the growth rate entered in the Bitcoin row above. Projects BTC value to your retirement date and adds it to your investable portfolio. High risk — consider the impact on your plan carefully.

Apply rental property income to retirement spending offset

Net rental income (after expenses, vacancy, and management) offsets how much your portfolio must cover — exactly like Social Security.

Annual Gross Rent

Expense Ratio

Net Rental Income / yr

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Reduces portWD By

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Use post-2025 exemption (~$7M single / $14M MFJ — TCJA sunset expires unless Congress acts iThe Tax Cuts and Jobs Act (2017) doubled the federal estate tax exemption. If Congress does not act, it reverts to ~$6.8M (single) or ~$13.6M (MFJ) in 2026. For 2024 the exemption is $13.61M single / $27.22M MFJ. Check this box to see your exposure under the lower, post-sunset exemption.

Taxable Account Cost Basis iOriginal purchase price of non-retirement investments. At death, heirs receive a step-up to current fair market value — eliminating capital gains tax on unrealized appreciation. Only applies to taxable (non-IRA/401k) accounts.

Charitable Bequest at Death iAmount you intend to leave to charity. Charitable bequests are fully deductible from the taxable estate. Pre-fills from your DAF annual giving goal if entered — edit to set a one-time bequest amount instead.

State of Domicile i12 states (plus D.C.) levy their own estate taxes, often with much lower exemptions than the federal threshold. Massachusetts and Oregon start at $1M. Even if your estate is under the federal exemption, state taxes may apply.

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Gross Estate

Total assets before deductions

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Federal Taxable Estate

After exemption & deductions

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State Taxable Estate

After state exemption

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Step-Up Basis Value

Capital gains tax eliminated for heirs

Federal Estate Tax Exposure

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State Estate Tax Exposure

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Enter your balance sheet data above to see estate tax exposure.

Beneficiary & Estate Document Checklist 0 / 9 iClick each item to mark it complete. This is a conversation guide for your advisor meeting — not a legal checklist. Items marked ⚠ require attention based on your profile.

Estate calculations use gross assets from your balance sheet minus liabilities, charitable bequests, and (if spouse visible) the unlimited marital deduction. Federal estate tax rate is a flat 40% on the taxable amount above the exemption. State rates are approximated at the marginal rate for the jurisdiction shown. Step-up in basis applies to taxable (non-retirement) accounts only. IRAs and 401(k)s do not receive a step-up. This is an educational estimate — consult an estate attorney and CFP for a plan.

Inherited IRA — SECURE 2.0 Beneficiary Tax Cost iUnder SECURE 2.0, most non-spouse beneficiaries (adult children, siblings) must empty an inherited IRA within 10 years. For a Traditional IRA, every dollar distributed is taxable income to the beneficiary — potentially pushing them into a higher bracket. This tool estimates the total tax cost and net after-tax inheritance under three distribution strategies, and shows the stark difference between inheriting a Traditional vs. Roth IRA.

Inherited Account Type

iTraditional: all distributions are ordinary income — fully taxable to the beneficiary at their marginal rate. Roth: distributions are tax-free (account was funded with after-tax dollars). The 10-year rule applies to both, but the Roth beneficiary pays zero tax on distributions. This difference illustrates the enormous value of Roth conversions as an estate planning tool.

Inherited Balance iThe IRA or 401(k) balance at the time of inheritance. This is the projected value at the decedent's death — not the current balance. If the account is still growing, enter the projected value at expected death.

Beneficiary Marginal Rate iThe beneficiary's marginal federal income tax rate during the 10-year drawdown period. For an adult child in their peak earning years, this is often 22%–32%. Each distribution stacks on top of their existing income — large distributions can push them into a higher bracket.

Growth Rate During Drawdown iExpected annual return on the inherited account during the 10-year distribution period. The account continues to grow tax-deferred during years it isn't fully distributed — this increases both the total distributions and total tax owed. Default matches your global CAGR assumption.

Owner Had Started RMDs? iIf the original owner had already begun taking RMDs (i.e., was over age 73), the beneficiary must also take annual minimum distributions in years 1–9 of the 10-year window — they cannot defer all distributions to year 10. If the owner died before RMD age (73), the beneficiary can distribute on any schedule within 10 years.

No — died before age 73 Yes — already taking RMDs

Enter the inherited balance and beneficiary tax rate above.

LTCG Rate Determination — Your long-term capital gains tax rate depends on your total ordinary income. Enter estimated annual income to calculate your exact 0%/15%/20% tier and NIIT exposure.

Estimated Annual Ordinary Income iWages, Traditional IRA/401k withdrawals, interest, SS benefits. Does not include capital gains. Used only to determine your LTCG rate tier.

Filing Status

Married Filing Jointly Single / HOH

Your LTCG Rate

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Enter income above

No positions added. Click "+ Add Position" below to begin.

Scope: This tracker shows the big-picture TLH opportunity — it does not model individual tax lots, wash-sale violations (30-day window), or state capital gains taxes. Short-term gains (held <1 year) are taxed at ordinary income rates. Long-term gains use the 0%/15%/20% tiers. NIIT (3.8%) applies above $250K (MFJ) / $200K (Single) of modified AGI. Break-even holding period estimates how many years of tax-deferred compounding offsets the transaction cost and complexity of harvesting. Always confirm harvest timing with a CPA or tax advisor to avoid wash-sale disallowance.

Portfolio Growth & Inflation Impact

Inflation Penalty

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P1 Nominal

P1 Real (today's $)

Retirement age

Refine Your Plan ›

Model how spending naturally shifts across three retirement phases — active, settled, and late-life healthcare.

Active ends: Settled ends:

Presets:

Category

Infl. Rate

Active %

Settled %

Late %

Column totals:

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Allocate each phase's spending across categories (columns must sum to 100%). Each category compounds at its own inflation rate. The blended rate shown above is the weighted average — when it exceeds your global inflation assumption (3.0%), spending erodes your portfolio faster than a flat-inflation model would predict. The portfolio's return side continues to use your global CAGR and inflation settings — this panel only affects the spending trajectory.

Set your retirement age and horizon above to see phased spending analysis.

Add your state tax rate, model a pre-Medicare healthcare cost gap, and see how RMDs interact with your withdrawals.

State Income Tax iAdded to your federal rate for taxable brokerage accounts. Many states exempt some or all retirement income — selecting your state auto-fills the rate and shows the exact treatment for SS, pensions, and IRA/401(k) withdrawals. Florida, Texas, and 7 other states have no income tax at all.

State Income Tax Rate iAuto-filled when you select a state below. You can also enter manually for states with flat rates or if your effective rate differs from the top marginal rate.

Select Your State

Effective combined rate: —
Applied as return drag on taxable accounts and as withdrawal tax on Traditional accounts.

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Healthcare Gap (Pre-Medicare) iIf you retire before 65, you'll need private insurance until Medicare kicks in. These years can add $15–25k/yr to your spending. After 65, Medicare Part B + a supplement typically costs 40–50% less than private insurance.

Monthly Premium (today's $)

Typical Benchmarks

Enter a monthly premium to see the healthcare cost impact on your plan.

Required Minimum Distributions (RMDs) iThe IRS requires you to withdraw a minimum amount from Traditional (pre-tax) accounts each year starting at age 73, per SECURE 2.0. This is a percentage of your prior year-end balance based on IRS life expectancy tables. Roth accounts have no RMD requirement.

RMD Projections — based on your Traditional account balances at retirement.
Add a Traditional account to see RMD estimates.

Taxable Investment Income / yr iAnnual dividends, interest, and LTCG from taxable brokerage accounts running alongside the RMD years. This income is NOT subject to ordinary income tax on the RMD itself — but it does stack on top of your RMD for MAGI purposes, pushing you toward the 3.8% NIIT threshold ($250,000 MFJ / $200,000 Single). Enter $0 if all investments are in tax-deferred or Roth accounts.

IRA/401(k) RMDs are ordinary income — not subject to NIIT. But investment income from taxable accounts that stacks on top of RMDs can cross the NIIT threshold. Enter annual dividends + LTCG here to see NIIT exposure in each RMD year.

QCDs reduce your taxable RMD dollar-for-dollar. Donor-Advised Funds let you bunch deductions. Both cut your retirement tax bill.

Qualified Charitable Distribution (QCD) iA QCD is a direct transfer from your Traditional IRA to a 501(c)(3) charity. It counts toward your RMD but is excluded from your taxable income entirely — better than taking the distribution and then donating. Available from age 70½. Limit: ~$105k/yr (inflation-indexed).

Annual QCD Amount

Filing Status

Married Filing Jointly Single / HOH

Other Itemized Deductions

Enter an annual QCD amount above to see your tax savings.

DAF Bunching Inputs iContribute several years of charitable giving to a DAF in a single year to push total deductions above the standard deduction threshold. You get the full deduction upfront, then recommend grants to charities over time. Works best when your annual giving is below the standard deduction on its own.

Annual Giving Goal

Years to Bunch

yrs

Asset Type

Cash / Securities at cost Appreciated securities

Adjust inputs above to see DAF bunching analysis.

70% of people over 65 will need some form of care. Model the portfolio impact of a care event before it happens.

Region & Care Type iLTC costs vary widely by geography. Costs shown are 2025 medians from Genworth Cost of Care Survey and AHCA/NCAL data. Select your region and care type to model the right cost for your situation.

Care Type	Description	Low (rural)	National Median	High (coastal)	Selected Annual Cost

Scenario Parameters

Annual LTC Cost iPre-filled from your region and care type selection above. You can override manually. Enter the all-in annual cost — facility fees, personal care, ancillary services.

LTC Start Age iAge when the LTC event begins. The median age of first LTC need is around 80. Cognitive impairment often begins earlier (75–78); physical care needs tend to begin later (82–85).

yrs

Duration iHow many years of LTC to model. HHS data: average LTC need is 3.2 years; 20% need 5+ years; memory care average duration is 4–6 years from diagnosis.

yrs

Insurance Coverage / yr iAnnual LTC insurance benefit (if any). Reduces the out-of-pocket cost and portfolio impact. Most LTC policies pay a daily benefit ($150–$300/day) with a 2–3 year benefit period. Hybrid life/LTC policies are increasingly common.

Probability of Needing LTC — HHS/ASPE Research

70%

Age 65+ needing any LTC

3.2 yrs

Average duration of need

20%

Needing 5+ years of care

35%

Needing nursing home care

Portfolio Impact — Three Scenarios

Run 1,000+ scenarios with randomized returns. See your survival probability and worst-case outcomes.

Volatility preset:

Mean Real Return

Annual Volatility (σ)

Simulations

RUNNING SIMULATIONS…

Understand Your Plan ›

Year-by-year federal and state tax table for every year of retirement. Diagnostic only — does not change your projections.

Additional Income Sources & Options iTraditional WD, SS, pension, and spending are pulled from your portfolio inputs above. Enter any LTCG/dividend income from taxable accounts, planned QCD amounts, and annual Roth withdrawals to complete the projection. The projection runs from retirement age through your planning horizon.

LTCG / Dividends / yr iAnnual long-term capital gains and qualified dividends from taxable brokerage accounts, in today's dollars. Taxed at preferential LTCG rates (0%/15%/20%) and subject to 3.8% NIIT above $250K MAGI (MFJ).

QCD Amount / yr iAnnual Qualified Charitable Distribution from IRA. QCDs satisfy RMD requirements and are excluded from AGI — reducing SS taxation, IRMAA exposure, and the NIIT base. Applies from age 70½. 2025 limit: $105,000/yr.

Roth Withdrawals / yr iAnnual tax-free Roth withdrawals. These supplement the Traditional withdrawal to fund spending without increasing AGI, SS taxability, or IRMAA exposure.

Projection Start Age iAge at which the projection begins. Defaults to your retirement age. Set later to focus on RMD years.

yrs

Download for Excel / tax software

Age	Year	Trad. Balance	Trad. WD	QCD	Pension	SS Income	SS Taxable	LTCG / Div.	AGI	Std. Ded.	Ord. Taxable	Ord. Fed. Tax	LTCG Tax	NIIT	Total Fed. Tax	State Tax	IRMAA	Total Tax	Fed. Eff. Rate	All-In Rate	After-Tax Income
Enter retirement inputs above and open this panel to generate the projection.

See the optimal drawdown order for Roth, Traditional, and taxable accounts to minimize lifetime tax. Guidance only.

Sequencing Strategy iOptimal: spend taxable first (avoid further capital gains), then Traditional (RMDs force this anyway), then Roth last. The calculator compares this to drawing from all accounts proportionally and shows the multi-decade wealth difference.

Drawdown Strategy

Optimal (Taxable → Traditional → Roth) Proportional (draw from all accounts equally) Worst Case (Roth → Traditional → Taxable)

Add accounts above and set a withdrawal amount to see sequencing impact.

Find the optimal conversion amount to fill a lower bracket before RMDs force higher-rate withdrawals. Diagnostic only.

Conversion Parameters iYour "current rate" is your marginal rate during the conversion window (typically lower, since you're not yet drawing RMDs). Your "expected future rate" is what you expect when RMDs begin. The larger the gap, the more valuable conversion is.

Annual Conversion Amount

Current Marginal Rate

Expected Future Rate

Years Until RMD Age (73)

yrs

i Common bracket-fill presets:

Enter a conversion amount above to see the tax rate arbitrage analysis.

See your full retirement income profile across brackets, IRMAA tiers, and LTCG stacking. Diagnostic only.

Retirement Income Composition iEnter your expected annual income in retirement. Traditional IRA/401k withdrawals are fully taxable. Roth withdrawals are tax-free. Social Security is 0–85% taxable depending on your total income. Other income includes pensions, rental income, or part-time work. LTCG & Investment Income drives NIIT exposure.

Traditional Withdrawals / yr

Roth Withdrawals / yr

Social Security / yr

Other Taxable Income / yr

LTCG & Investment Income / yr iLong-term capital gains, qualified dividends, and other net investment income from taxable brokerage accounts. This income is taxed at preferential LTCG rates (0%/15%/20%) — but is also subject to the 3.8% Net Investment Income Tax (NIIT) when MAGI exceeds $250,000 (MFJ) or $200,000 (Single). IRA/401(k) distributions are ordinary income and are NOT subject to NIIT.

§ 199A QBI Deduction / yr iThe Section 199A pass-through deduction reduces your taxable income by up to 20% of qualified business income. Use the Self-Employment section above to calculate your exact deduction, then click "Apply to Tax Bracket Panel" to pre-fill this field. You can also enter manually for partnership K-1 income or rental QBI.

Pulls projected portfolio withdrawal and SS from the results above.

Enter income figures above to see your projected tax bracket and IRMAA status.

Additional Tools ›

Model 529 and Coverdell savings goals for each child. Standalone — does not affect your retirement projection.

No children added yet. Click “+ Add Child” below to begin.

Projections use the global CAGR assumption (nominal). 529 earnings are tax-free for qualified education expenses — no annual tax drag applied. College cost inflates at 5%/yr (historical average). Default annual cost: $35,000 (in-state public 2024 average including room & board). Coverdell ESA annual contribution limit: $2,000. 529 annual limit: $19,000 gift tax exclusion (2025), or up to $95,000 front-loaded over 5 years. Does not model financial aid, merit scholarships, or room & board beyond the entered annual cost.

Calculate survivor income gap and appropriate coverage level. Standalone — does not affect your retirement projection.

Coverage Parameters iAdjust these three inputs. Income, spending, and Social Security amounts are pulled automatically from your plan above. The "survivor spending" percentage reflects that one person typically needs 65–75% of what two people spend (housing and fixed costs don't halve).

Existing Life Insurance Coverage iEnter the total face value of all in-force term or permanent life insurance policies on the primary earner. Leave at $0 if none.

Survivor Spending (% of current) iOne person typically needs 65–75% of household spending. Fixed costs (mortgage, utilities, insurance) don't drop proportionally when a spouse passes. CFP default is 70%.

Income Replacement Years iHow many years does the survivor need income replacement? Typically set to years until the younger person's planned retirement. Defaults to your household retirement horizon.

yrs

Coverage Needs vs. Available Resources

Enter household income above to see the analysis.

Add household income and spending to see your life insurance coverage gap.

Compare mortgage early payoff vs. investing the difference at your expected CAGR. Standalone calculator.

Mortgage & Investment Parameters iAll five inputs drive both scenarios. The extra monthly amount is what you're deciding how to deploy. Investment return pulls from your global assumption — change it here to model a specific account type (e.g., 5% for bonds, 10% for equities).

Quick fill:

Remaining Mortgage Balance iCurrent outstanding principal. Check your latest mortgage statement.

Mortgage Interest Rate iYour current note rate — not APR. Found on your mortgage statement or closing documents.

Remaining Term iYears left on the mortgage. A 30-year loan taken out 5 years ago has 25 years remaining.

yrs

Marginal Tax Rate iYour federal + state marginal income tax rate. Used to calculate the after-tax mortgage rate if you itemize the interest deduction. If you take the standard deduction, set this to 0% — most households no longer itemize after TCJA 2017.

Expected Investment Return iNominal annual return on the invested alternative. Pre-filled from your global CAGR assumption. Use a lower number for taxable accounts or conservative allocations.

I itemize deductions (mortgage interest is deductible)

Extra monthly amount: $ deployed toward payoff — or invested

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After-Tax Mortgage Rate

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Break-Even Invest Return

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Early Payoff In

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Interest Saved

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Horizon	Min. Payment Only	Invest Extra $—/mo	Pay Off Early → Invest	Invest Lead
Enter mortgage details above.

Enter mortgage details to see the payoff vs. invest analysis.

Important Disclosure This tool provides financial projections and educational information only. It is not financial advice, a financial plan, or a recommendation to buy, sell, or hold any investment or insurance product. Results are mathematical estimates based solely on the assumptions and data you enter — they are not a guarantee of future performance or outcomes. Retirement projections involve significant uncertainty; actual results will differ due to market volatility, inflation, taxes, longevity, and other factors not captured by this model.

This tool does not consider your complete financial situation, risk tolerance, tax circumstances, estate planning needs, or any other factors a licensed professional would evaluate. Before making any retirement, investment, or financial planning decisions, consult a qualified financial advisor (CFP®), certified public accountant (CPA), or estate planning attorney licensed in your jurisdiction.

Not financial advice. Not a substitute for professional financial planning.

Investment Type	Best Account	Annual Tax Drag in Taxable	Why
Bonds, CDs, money market	▣ Traditional	~1.0–1.1% drag	Interest is ordinary income — fully taxable annually. Tax deferral captures the full coupon.
REITs (Real Estate Investment Trusts)	▣ Traditional	~0.8–1.0% drag	High dividend yields taxed at ordinary rates. Deferring inside Traditional shelters the distribution.
High-dividend stocks, preferred stock	▣ Traditional ◈ Roth	~0.5–0.7% drag	Dividends taxed at LTCG rates in taxable — better than ordinary, but tax-deferred/free is still superior.
International stocks (developed markets)	◉ Taxable	~0.2–0.3% (offset)	Foreign tax credit is only available in taxable accounts — recaptures foreign withholding taxes.
US index funds (total market, S&P 500)	◉ Taxable	~0.1–0.2% drag	Low turnover and qualified dividends make broad index funds highly tax-efficient. Taxable is fine.
Growth stocks, small-cap, high-turnover funds	◈ Roth	~0.2–0.5% drag	Highest long-term growth potential — Roth shelters all future appreciation tax-free.
Inflation-protected bonds (TIPS, I-Bonds)	▣ Traditional	~0.8–1.0% drag	Inflation adjustments are taxed as ordinary income annually — tax deferral eliminates this "phantom income."