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You have 3 basic options

Step 1: Consider Your Options

You can 1) Preserve principle and live on the interest; 2) Invest your savings in stocks and bonds and draw out a portion as income; or 3) Buy an annuity. 

CLICK AN OPTION to see what it might provide each year, from age 65, using $100,000. 
CLICK "If Things Go Badly" to see what might happen if stock & bond returns are "bad." 
(To see how we make these projections, see "Explanations" at the bottom of the page.) 

At Age 89
$ 4,000
Yearly Income
$80,000
Savings Remaining
% Chance that you are alive

Estimated Yearly Income: Draw $3,500 from Savings

If Things go Badly
See Explanations

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65 yrs
70 yrs
75 yrs
80 yrs
85 yrs
90 yrs
95 yrs
100 yrs
At Age 89
$4,000
Yearly Income
$80,000
Savings Remaining
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Even chance of being alive:
Average life expectancy. If married, chance at least one spouse is alive, assuming the husband is two years older than the wife. If healthy, your odds of being alive are better.

Click an option to see how it draws from Savings

1. Live on the Interest

2. Draw an Income

3. Buy an Annuity

i
Click to learn more about the assumptions and equations used on this page
Explanations