How long $1,000,000 lasts at 3% when you withdraw $1,000 a month
$1,000,000 earns 3% compounded monthly while $1,000 is withdrawn at the end of every month. The calculation runs for up to 50 years.
Result
| Time until assets run out (Tax-free) | Still lasts after 50 years |
|---|---|
| Time until assets run out (Taxed per period) | Still lasts after 50 years |
| Balance after 50 years (Tax-free) | $3,083,977.88 |
| Balance after 50 years (Taxed per period) | $2,145,723.81 |
This tool is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell any financial product. Simulation results do not guarantee future outcomes. Investment decisions are your own responsibility.
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Year-by-year growth
| Year | Withdrawn | Balance |
|---|---|---|
| 1 | 12,000 | 1,018,250 |
| 2 | 24,000 | 1,037,054 |
| 3 | 36,000 | 1,056,431 |
| 4 | 48,000 | 1,076,397 |
| 5 | 60,000 | 1,096,970 |
| 6 | 72,000 | 1,118,169 |
| 7 | 84,000 | 1,140,012 |
| 8 | 96,000 | 1,162,521 |
| 9 | 108,000 | 1,185,713 |
| 10 | 120,000 | 1,209,611 |
| 11 | 132,000 | 1,234,236 |
| 12 | 144,000 | 1,259,611 |
| 13 | 156,000 | 1,285,756 |
| 14 | 168,000 | 1,312,697 |
| 15 | 180,000 | 1,340,458 |
| 16 | 192,000 | 1,369,063 |
| 17 | 204,000 | 1,398,538 |
| 18 | 216,000 | 1,428,909 |
| 19 | 228,000 | 1,460,204 |
| 20 | 240,000 | 1,492,451 |
| 21 | 252,000 | 1,525,679 |
| 22 | 264,000 | 1,559,918 |
| 23 | 276,000 | 1,595,198 |
| 24 | 288,000 | 1,631,551 |
| 25 | 300,000 | 1,669,010 |
| 26 | 312,000 | 1,707,608 |
| 27 | 324,000 | 1,747,380 |
| 28 | 336,000 | 1,788,361 |
| 29 | 348,000 | 1,830,590 |
| 30 | 360,000 | 1,874,102 |
| 31 | 372,000 | 1,918,939 |
| 32 | 384,000 | 1,965,139 |
| 33 | 396,000 | 2,012,744 |
| 34 | 408,000 | 2,061,797 |
| 35 | 420,000 | 2,112,342 |
| 36 | 432,000 | 2,164,424 |
| 37 | 444,000 | 2,218,091 |
| 38 | 456,000 | 2,273,390 |
| 39 | 468,000 | 2,330,371 |
| 40 | 480,000 | 2,389,085 |
| 41 | 492,000 | 2,449,585 |
| 42 | 504,000 | 2,511,925 |
| 43 | 516,000 | 2,576,161 |
| 44 | 528,000 | 2,642,351 |
| 45 | 540,000 | 2,710,554 |
| 46 | 552,000 | 2,780,832 |
| 47 | 564,000 | 2,853,247 |
| 48 | 576,000 | 2,927,865 |
| 49 | 588,000 | 3,004,752 |
| 50 | 600,000 | 3,083,978 |