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SWP calculator: how long a monthly withdrawal lasts.

An SWP calculator shows how long a corpus lasts when you withdraw a fixed amount every month while the rest keeps earning.

Enter a corpus, a monthly withdrawal, an optional yearly step up and a return. See how long the money lasts, the balance and the total withdrawn after the years you choose, and the highest withdrawal that lasts that long.

Formula shown
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Corpus at the start

Monthly withdrawal

Yearly step up of the withdrawal

The withdrawal rises once a year by this much, for example to keep pace with expenses. 0 keeps it flat.

Expected return a year

Reference returns, tap to use

Model, back tested, RupeeCase indices

All 18 indices, model, back tested CAGR

The default 8% is an assumption for illustration, not a forecast. Past or back tested returns are not a promise of future returns.

Years to check

Used for the balance, the total withdrawn and the highest withdrawal that lasts this long.

How long the money lasts23 years 2 months278 withdrawals paid in full, then a last ₹11,732

Balance after 20 years₹47.4 Lafter the withdrawals

Total withdrawn in 20 years₹1.98 Cr

Highest monthly withdrawal that lasts 20 years₹55,656to start with, rising 5% a year

Withdrawal rate in year one6.00%₹6,00,000 in the first 12 months

Monthly withdrawal in year 20₹1,26,348after 19 step ups

Balance after 20 years at the Dynamic Asset Allocator model CAGR₹1,412.81 CrDynamic Asset Allocator, model, back tested CAGR 45.18% as of 27 Apr 2026. Not a promise of future returns.

Balance
Withdrawn so far
Dynamic Asset Allocator, model

Withdrawals at the start of each month, raised 5% once a year; the balance earns 0.643% a month (8.0% a year). Tax is not deducted.

01How it works

In plain words.

A systematic withdrawal plan (SWP) sells a fixed amount from an investment every month. Here the withdrawal comes out at the start of each month and what is left earns the monthly rate. With a step up the withdrawal rises once a year. When a withdrawal is larger than what is left, it takes the rest and the money has run out. The reverse works backwards: the highest first withdrawal whose payments, each discounted at the monthly rate, add up to exactly the corpus over the years you choose.

The formula

i = (1 + r)^(1/12) - 1, the monthly rate from a yearly return rWithdrawal in month k = W x (1 + step)^floor(k / 12), taken at the start of the month (k = 0, 1, 2 ...)Balance after month k = (balance - withdrawal) x (1 + i)Highest W that lasts n months = corpus / sum of (1 + step)^floor(k / 12) / (1 + i)^k, k = 0 to n - 1

02Worked example

The default numbers, by hand.

Rs 1 crore at 8% a year with Rs 50,000 a month, rising 5% a year: the monthly rate is 1.08^(1/12) - 1 = 0.643%, and the first year takes Rs 6 lakh, 6% of the corpus. After 20 years about Rs 47.4 lakh is left and about Rs 1.98 crore has been withdrawn; the money lasts 23 years 2 months. The highest withdrawal that lasts exactly 20 years, rising 5% a year, starts at about Rs 55,700 a month. Without the step up, Rs 50,000 is less than the monthly return on Rs 1 crore after the withdrawal (about Rs 64,000), so the corpus does not run out.

Input	Value
Corpus at the start	₹1,00,00,000
Monthly withdrawal	₹50,000
Yearly step up of the withdrawal	5%
Expected return a year	8%
Years to check	20 years

Result	Value
How long the money lasts	23 years 2 months
Balance after 20 years	₹47.4 L
Total withdrawn in 20 years	₹1.98 Cr
Highest monthly withdrawal that lasts 20 years	₹55,656
Withdrawal rate in year one	6.00%
Monthly withdrawal in year 20	₹1,26,348
Balance after 20 years at the Dynamic Asset Allocator model CAGR	₹1,412.81 Cr

03Key concepts

What to know before you use it.

Withdrawal rate

The first year’s withdrawals as a share of the corpus. Research on US data (Bengen 1994; the Trinity study, 1998) found that about 4% a year, raised with inflation, lasted 30 years in most historical periods for a mix of stocks and bonds. It is a US result and a rule of thumb, not a promise; the card shows your rate so it can be compared.

Sequence of returns

A constant return is a simplification. With returns that vary, a fall in the first years of withdrawals hurts more than the same fall later, because units are sold low to pay each withdrawal. Two plans with the same average return can last very different lengths of time.

Step up

Expenses usually rise with inflation, so a flat withdrawal buys less each year. A step up keeps the withdrawal closer to expenses, and the corpus runs down faster. A step up equal to an inflation assumption shows a withdrawal that holds its value.

Good to know

The retirement calculator works out the corpus a set of expenses needs; this calculator starts from a corpus you already have.
Each withdrawal from a mutual fund is a sale of units, and the gain part of it can be taxed as a capital gain; this calculator does not deduct tax.
A lower return, for example for a debt heavy mix, shows how much of the result depends on the return.

04Assumptions

What the calculator assumes.

One constant return; withdrawals at the start of each month, raised once a year by the step up.
Money left after each withdrawal earns the monthly rate i = (1 + r)^(1/12) - 1; "lasts" counts the withdrawals paid in full, up to 100 years.
Tax, exit load and expense ratio are not deducted; the capital gains tax calculator covers the tax on equity gains. The default 8% is an assumption for illustration, not a forecast.

Sources, checked 12 Oct 2026

05Questions

Asked about the SWP calculator.

What is an SWP?

A systematic withdrawal plan sells units of a fund for a fixed amount at a fixed interval, usually monthly, and pays the money to your bank account. It turns a corpus into a regular income while the rest stays invested.

How long will my money last with an SWP?

It depends on the withdrawal, the step up and the return. Rs 1 crore at 8% a year with Rs 50,000 a month, rising 5% a year, lasts 23 years 2 months here; without the step up the return covers the withdrawal and the corpus does not run out.

How is the maximum SWP amount calculated?

It is the first withdrawal whose payments, each discounted back at the monthly rate, add up to the corpus over the chosen number of months. With a step up the later payments are larger, so the first one is smaller.

Is SWP income taxed?

Each withdrawal is a sale of units, so the gain part of it is a capital gain, taxed by the type of fund and how long the units were held. This calculator does not deduct tax.

How does the SWP calculator work?

Enter the corpus, the monthly withdrawal, an optional yearly step up and a return. The SWP calculator shows the balance over time and the month it runs out, if it does.

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06Keep going

Learn the idea, see it applied.

Module 7.3Inflation: Types, Measurement, and Investment Impact11 min read, Path 07 Module 6.7Bonds and Fixed Income in India8 min read, Path 06 Module 4.5Risk Management for Systematic Portfolios11 min read, Path 04 The matching indexDynamic Asset AllocatorOne fixed equity core, two regime switches. The machine decides how much risk to carry.CAGR45.2%Sharpe2.32Max DD−10.6%Model, back tested, as of 27 Apr 2026. Not client returns, not a promise. Risk band: Moderately High.

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Education only, not investment advice. RupeeCase (QC Alpha Technologies Pvt Ltd) is not a fund, a PMS or a SEBI registered investment adviser. Model returns are back tested, not a promise; figures carry the date checked.