A friendly retirement calculator for estimating income, tax, asset drawdown and probability of success — UK Tax 2025/26
Add any other asset category such as a General Investment Account, second home, property equity, business sale proceeds or other investments. A default Second Home line is included so you can capture its value now. Tick “Saleable property?” for any property or illiquid asset you might sell later. Use the sale controls below if you expect to sell it to help fund retirement; otherwise it is shown as wealth but is not treated as automatically spendable.
Enter what you expect to keep saving each year before retirement. Leave blank if you are already retired or do not plan to add more; blank fields are treated as zero.
Add other annual saving categories below. Mark whether each is taxable or tax-free so the dashboard can label them clearly. For now, taxable status is shown and tracked as a category attribute; detailed CGT/dividend tax modelling can be added later.
Also enter your view of asset growth rates. The defaults are equity/pension/ISA growth at 7%, cash at 3.5% and inflation at 2.5%.
Secondly — enter how much net annual income you are trying to achieve each year (note this will go up with inflation each year). Also enter how long you hope to live for using the plan-to age. The calculator uses your date of birth to estimate the years available between today and your proposed retirement age.
State Pension note: check your own UK State Pension forecast. Not everyone receives the full amount, and ages/rules can change.
Add income you expect to receive during retirement, such as rental income, annuity income, consultancy income or other regular payments. Choose who receives it so it is added to the correct person’s taxable income. Amounts are assumed to start from retirement and rise with inflation unless you choose otherwise.
This website cannot hold your data. To keep a record, download a local file of your current inputs and calculated results. You can save it on your own computer and create a new file each time you update the calculator.
The personal results file includes your current inputs, summary figures, Monte Carlo success rates and the year-by-year drawdown table. The detailed colour report opens as a private HTML report on your device and can be printed or saved as PDF from your browser. Nothing is uploaded to Will Loves Pensions. To return later, download your results file and use “Load saved results”.
Runs random market-return paths around the selected Pension/ISA growth assumption to estimate the probability of reaching age without exhausting assets. The flexible-withdrawal result allows annual spending to be temporarily reduced in weaker markets, which can materially improve survival odds.
Fixed success means the full dashboard withdrawal path is funded every year. Flexible success means the household funds at least the selected minimum flexible goal while cutting withdrawals after negative-return years. This is a planning model, not a forecast, guarantee, financial advice, pension advice or tax advice.
Returns are sampled from a log-normal model using the selected nominal growth rate as the average expected annual return.
10th, median and 90th percentile ending assets by age
Fixed vs flexible withdrawals at plan end
Average annual portfolio withdrawal under fixed vs flexible paths