Investboard …
Calculator · FIRE & freedom
How long will your assets last?
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The calculator simulates the withdrawal phase year by year. Tax follows the choice of where you are taxed: the German model, with flat tax on withdrawals, the annual advance lump sum and crediting under Section 19 InvStG, or your own rate on investment gains.
The same withdrawal simulation, filled in from your holdings, tax profile and age.
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There is no single correct withdrawal strategy, only a trade-off between a stable income, preserved purchasing power and the chance that the portfolio lasts as long as you need it. The calculator models three classic variants:
| Strategy | Withdrawal amount | Character |
|---|---|---|
| Constant (nominal) | The same amount every month | Predictable, but loses purchasing power when prices rise |
| Constant (real) | A fixed amount, raised each year by the assumed inflation | The logic behind the 4% rule: an income constant in real terms |
| Percentage | A fixed share of the current portfolio value | The amount rises and falls with the portfolio |
The calculator runs year by year. It takes the amount you want to spend in that year, adds the tax that selling it would cost, takes the total out of the portfolio and lets the remaining balance grow at the assumed return. Then the next year starts. It stops when the money runs out or after 50 years.
Choose your money with Currency. The math is the same in every currency; nothing is converted.
Every withdrawal sells units, and part of what you sell is gain. The calculator assumes that 70% of each withdrawal is gain, a flat assumption. The lower your actual gain share, the lower the tax and the longer the capital lasts; a higher share works the other way.
Under Where are you taxed? you choose the model:
Gross withdrawal = net withdrawal ÷ (1 − tax rate on gains × 70%)
One rate on gains is a simplification. Tax systems differ in allowances, holding periods and account types; the calculator does not know which applies to you.
In Germany two taxes act at the same time during the withdrawal phase, and the calculator models both. German tax is calculated in euros, so this model needs EUR as the currency.
1. Flat tax on realized gains. The calculator grosses each withdrawal up so that your desired amount remains after tax. It follows the statutory order: first the crediting of advance tax already paid (Section 19 InvStG), then the 30% partial exemption (Teilfreistellung) for equity funds, then the year's remaining saver's allowance (Sparerpauschbetrag), and 26.375% on the rest (25% plus the solidarity surcharge, more with church tax).
2. Advance tax on the remaining portfolio. During withdrawal the portfolio stays invested and triggers the annual Vorabpauschale (base rate 2026: 3.20%). The calculator deducts it year by year and credits it on later sales, so nothing is taxed twice. How the advance tax itself is calculated is shown in the Vorabpauschale calculator.
The saver's allowance renews each calendar year by filing status (EUR 1,000 single, EUR 2,000 joint). It is used first by the advance tax for the previous year and then by that year's withdrawals, so it is never counted twice.
The central figure is how long the capital lasts within the modeled period: after how many years the portfolio would be used up in this calculation. "Not depleted within the modeled period" does not mean the money lasts forever; it means it lasts at least that long under these assumptions.
The calculator also shows a gross reference rate from your monthly input, the sum of net withdrawals, the total tax paid over the period and the remaining capital after 15 and 25 years.
The model assumes a constant return. Real markets fluctuate, and a weak sequence of returns early in the withdrawal phase can shorten how long the money lasts considerably (sequence-of-returns risk). The 70% gain share is a flat assumption. The result is an orientation based on your inputs, not a forecast or a recommendation; our guide to withdrawal strategies goes deeper into the trade-offs.
A systematic plan for taking money out of a portfolio on a regular basis, usually in retirement. The calculator shows how long the capital lasts under your withdrawal, return, inflation and tax assumptions, simulated year by year for up to 50 years.
There is no single best strategy, only trade-offs. Constant (real) keeps purchasing power stable but uses more capital when prices rise. Percentage does not run the portfolio to zero, but the income rises and falls with it. Constant (nominal) is predictable but loses purchasing power over time.
It assumes 70% of each withdrawal is gain and grosses the withdrawal up so the desired amount remains after tax. Under Where are you taxed?, Elsewhere applies your Tax rate on investment gains (%) to that share, with no advance tax or allowance. Germany applies the German model with the flat tax, the advance tax and the saver's allowance.
If you are taxed in Germany, the Vorabpauschale is calculated each year on the remaining portfolio value, using the 2026 base rate of 3.20%. The calculator deducts it year by year and credits it against the tax on later withdrawals, so the same gain is not taxed twice.
It shows how long the money lasts under the entered assumptions, with a constant return. Real markets fluctuate, and weak returns early in retirement can shorten the duration considerably (sequence-of-returns risk). The result is an orientation, not a forecast.
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Inputs
Assumed return p.a.
0–5 %
Withdrawal strategy
A fixed amount. Purchasing power falls with positive inflation.
Your tax on gains when you sell. 0 shows the result before tax.
Your simulated withdrawal plan
Capital duration in the simulation
Not depleted within the modeled period
Under these assumptions the capital is not depleted within the modeled period.
At a constant return; sequence-of-returns risk is not modeled.
Portfolio trend
Tax at your own rate of 0% on the gain share of each withdrawal.
In this simulation the capital is not depleted within the modeled period. This is not a guarantee for the future.