Retirement Income Calculator

Last updated July 2, 2026

Retirement income planning is fundamentally different from working-years budgeting because the money comes from multiple sources with different rules, tax treatments, and timing requirements. A typical retirement income picture might include Social Security benefits, distributions from a traditional 401(k) or IRA (taxable as ordinary income), Roth account withdrawals (generally tax-free), a pension if applicable, and potentially part-time work or rental income. Coordinating these sources — deciding which bucket to draw from when, and in what order — can have a significant impact on how long the money lasts and how much goes to taxes.

The sequence matters because tax brackets in early retirement can be a strategic opportunity. Between retirement and age 73 — when Required Minimum Distributions begin — many people have lower income than at any other adult stage. This window is often ideal for Roth conversions: moving money from a tax-deferred account to a Roth while in a lower bracket, reducing future RMDs and creating more tax-free withdrawal flexibility later. A retirement income calculator that models all sources together — rather than each in isolation — helps identify whether you're drawing down accounts in the optimal order and whether your projected income creates gaps or unexpected tax exposure.

Retirement income planning isn't just about how much you have — it's about which accounts you draw from, in what order, and how each withdrawal interacts with your tax bracket and benefit phase-ins. Modeling all your income sources together, rather than treating each one separately, is where the real retirement income decisions get made.