Income goal calculator

How much do you need to fund the income you want?

Enter the yearly income you would like and the return you expect, and see roughly how large a pot it could take to fund that income. Figures are illustrative, not guarantees.

Income based goal calculator

Work out the pot you need to fund a future income, and how much you need to put away each month to build it.

1Your income goal

How much income do you want each year?

When do you want the income to start?

years

Years from now. Set to 0 if you want the income straight away.

How long should the income last?

years

How long the money has to keep paying out. 30 years is the usual starting point for retirement.

2Where you are now

How much have you already saved towards this?

Pensions, ISAs and other investments earmarked for this goal. Leave blank if you are starting from scratch.

How will your monthly saving change over time?

3Assumptions

Expected return

Before charges

Inflation

Long run

Total charges

Platform, funds, advice

What happens to the pot once the income starts?

What happens to the income once it starts?

Advanced settings

Taking the income at the start of each year rather than the end means the first payment never gets a year of growth, which raises the pot needed by roughly 3 to 4 per cent.

When is the income taken?

Enter an income first. The report opens in a print window: choose "Save as PDF" as the destination.

Education only. This is not personal financial advice or a recommendation. The model assumes the same return every single year, so it tells you nothing about sequence risk, the danger of poor returns landing in the years just before or just after the income starts. Monthly saving is assumed to be invested at the end of each month. Tax relief, tax on withdrawals and state pensions are ignored. Capital is at risk when you invest.

Your results

Enter an income to see your plan.

You need to save each month

£…

The pot you need when the income starts

In today's money

£…

In future cash

£…

What your statement will actually show

How you get there

Your current savings grow to

£…

Total you pay in

£…

In cash, over the saving years

Starting withdrawal rate

…

Real return after charges

…

Total income drawn

£…

In today's money

Pot left at the end

£…

In today's money

What happens to the pot

Building it up, then drawing the income, year by year

Today's money Cash terms

How much does the return assumption matter?

The same goal, with a different expected return.

Expected return	Monthly saving	Pot needed (today's money)

Today's money vs future money: prices rise over time, so a pound in 20 years buys less than a pound today. Figures in today's money have that stripped out, so you can judge them against what things cost now. Figures in future cash are what will actually land in your account. The multiple is the pot divided by the income, both in today's money. The familiar 25 times rule is the special case where the income rises with inflation, the pot keeps its buying power and the real return after charges is 4 per cent a year.

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