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[quote=Anonymous][quote=Anonymous]I'm trying to do this without using a financial planner.

I'm plugging total retirement savings, pension, and social security into an online retirement withdrawal calculator, and tell it how much I want to spend monthly.  It says back to me "your savings will last 30 years" at that rate.  But the chart shows our savings as not being spent out in 30 years.  There's still over $1M left in year 30 on the chart.

Does anyone understand this?   We're not looking to leave our children an inheritance other than a $2M house with no mortgage that will be more highly valued in 30 years.  We want to enjoy spending our money now -- including plenty of it on them and on grandchildren when they arrive.

Do these models just assume that you want to leave an inheritance?  And if so, then why do they say "your money will last X years?"

Thanks for your advice!  [/quote]

that means it will last "at least 30 years" per Monte Carlo model (like 95% probability of lasting 30 years based on input). the higher your spending input, higher your risk of running out of money in 30 years. [/quote]

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