Retirement Cost of Living Calculator
Slide the inflation rate, pick how your retirement income gets taxed, and watch what your everyday spending could look like over the next 20 years. No need for exact numbers — just get a feel for the trend.
Play With Your Numbers
Nothing here is saved or sent to anyone — it's just a playground for what your retirement budget could feel like.
What it costs you to live comfortably for one year, today.
A blend of Social Security, pensions, and account withdrawals is often only partly taxable — we're estimating a light 12% bite here.
Your 20-Year Outlook
$80,000
Year 1 Spending Need (2027)
$140,280
Spending Need by 2046
$159,410
Pre-Tax Income Needed by 2046
~23 yrs
Your Costs Roughly Double In
Spending Need vs. Pre-Tax Income Needed, 2027–2046
- Take-Home Spending Need
- Extra Needed for Taxes
Over these 20 years, this scenario totals roughly $2,442,761 of pre-tax income to cover retirement spending.
Small Moves That Can Lower Your Tax Bill
Try switching the tax treatment above between "fully taxed" and "tax-free" and watch the gold slice of the chart shrink. Here's what tends to make that happen in real retirement plans:
Blend your tax buckets
Money split across taxable, tax-deferred, and Roth (tax-free) accounts gives you room to pull income from whichever bucket keeps your tax bracket lowest each year.
Mind your withdrawal order
Which account you draw from first — and when you turn on Social Security — can change how much of your retirement income is taxable in a given year.
Revisit the number often
Inflation compounds quietly in the background. Re-checking your spending plan every couple of years keeps it honest as costs — and any income adjustments — shift.
The Potential Benefits of a Roth Conversion
Converting some traditional 401(k) or IRA savings to a Roth means paying tax on that money now — but it can shrink the gold "extra needed for taxes" slice in the chart above for years to come.
- Pay tax on the conversion now, then withdraw future growth completely tax-free in retirement
- Reduce or eliminate Required Minimum Distributions (RMDs), which can otherwise push you into a higher bracket later
- Lock in today's tax rate if you expect your rate — or tax rates in general — to rise down the road
- Leave a more tax-efficient inheritance, since heirs can often withdraw from an inherited Roth without owing income tax
Are You Ready to Get Started Now?
If so, click below to begin — just share a few quick details and our team will follow up to put your complimentary analysis in motion.
($1M+ Liquid Net Worth)Click Here to BeginReady for a Precise, Personalized Plan?
This calculator is a quick way to see the trend. For a real projection built around your accounts, your tax picture, and your timeline, let's talk it through together.
This calculator is provided for general educational purposes only and does not constitute tax, legal, or investment advice. It applies a single, user-selected inflation rate and a simplified, flat tax-treatment estimate to a starting spending figure you provide, projected from 2027 through 2046. It does not account for market returns, changes in tax law, actual filing details, or changes to your income sources over time. Your actual costs and taxes will differ. Please consult Cannon Advisors or a qualified tax professional for guidance specific to your situation.