Apply growth and spending in the chosen order
At end-period timing, the opening balance first receives growth, then balance fees, then the requested withdrawal. Beginning timing makes the withdrawal before that growth. The amount available to earn a return changes with this order, so an annual return assumption alone cannot determine the ending balance.
Depletion cannot create a negative investment account
If requested spending exceeds the available balance, only the affordable amount is funded. Unmet spending is reported separately. A $1,000 balance at zero return with $100 end-period withdrawals and no fees or spending increases supports exactly ten full withdrawals before depletion.
Increasing spending is a scenario assumption
The inflation field increases the requested withdrawal after each completed year. Fees reduce the balance after growth using an equivalent period fee factor. No tax is modeled. If the account remains positive through the selected horizon, the result says so; it does not claim that the balance lasts indefinitely.
Questions about this calculation
How can I check the inputs behind the result?
Open “Show calculation & assumptions” for the formula and timing conventions, then inspect the breakdown. Export CSV to keep the last calculated inputs and numerical results together.
Does this include taxes or changing market returns?
No tax calculation or variable market-return path is included. The task-specific assumptions above describe the scope. Calculated values are conditional on the inputs, not personalized recommendations.
Learn more
Start with the step-by-step future value formula guide.
Open the formula guide →How to calculate future value · Spreadsheet calculations · All learning guides
Use these figures to explore assumptions. Actual interest, returns, fees, taxes and purchasing power can differ.