Retirement Income Calculator


Designed by a highly successful financial adviser
this is simple enough to do yourself
comprehensive enough to let you sleep at night

Because nothing stays the same

The key to keeping your your retirement income on track is to run the planner every year.
Changes in your life and investment returns will mean necessary and continued adjustments to your plan.

If you're a couple

Quick calculator

For an individual

This page

            Calculate retirement income

            Expenditure record to download
            Meet Simon and Serena
            Organise retirement savings
            Understanding Pension Drawdown
            Efficient use of tax-free cash
            Looking to the future, nothing stays the same
            How much does it cost to retire?
            Minimum payment equals minimum pension
            About investment charges
            What is an investment?       
            What is a managed fund?
            Understanding risk
            How much risk should I take?
  • STEP by STEP
            Help in completing the calculator tool

Why is this different?

It’s different because as an Independent Financial Adviser I wrote and designed this retirement projection system for my private clients.

Over a thousand face to face meetings have shaped and helped create Income Planner. As a result it represents all your needs and ambitions, it is your invaluable support before and after retirement.

My name is Howard Goodall and this calculator has been the most valued and effective planning tool for over fifteen years. My lifetime as a financial adviser has been hard to give up, so when I retired I built this website.

One day you might wake up and say:
“I don’t want to work any more”
You need to be ready for that. 

So what is retirement?

It’s a luxury. It’s expensive and for people in many countries, it’s unachievable. If you have a maximum years final salary scheme the path to retirement is less onerous, but for most people it can be more costly than buying a house, and it takes years to plan for. 

You can’t wait to retire? Or perhaps you will never stop because you love your work so much. 

The point is
– one day you may have to stop and there are lots of reasons why. It’s all about preparation and having the money to fall back on so you don’t run out. It might also allow you to stop work early to do something new. Whether you’re good at making plans or not, don’t think about it, make a start, this will help you.

Is it work you want to retire from?
Could you retire early and start a lifestyle business? To do what you enjoy and make a living from it. It’s probably good for your health and it might only be later that you have this choice.


already at retirement?

Do you keep running out of money? If so is your regular income withdrawal planned carefully?

Split your money into two pots:
Money you need for income generation, should be separate from the cash you set aside for extras and the unexpected. 
Read more in the Planning section on organising your savings.

Take some time to look back at last year’s regular spending and plan next year’s income withdrawals. Income Planner will tell you how much.

... or just thinking about it?

Minimum payment equals minimum pension

Make sure your pension contributions fit your need and are not just an arbitrary amount.

For instance, don’t just pay the minimum 5% when really you should be paying 9%. It’s too easy just to ‘go with it’. 

Question – Am I really paying the right amount into my pension?

just thinking

40 years work pays for 30 years retirement

40 years

The size of the gap is different for everyone and you may not need to retire on 100% of your income.

The important thing is not to underestimate the size of this gap.

Try to live at least 15% below your income and invest the saving.

To check your State Pension Forecast,
follow this link to UK Government website

It's not surprising we glaze over at the mention of pension

We never learnt at school how to manage money or understand investment and risk and we pick it up as we go along. The result is we have a steep learning curve at retirement. As you read through this website, there is a mass of information to help you prepare.

Even though legislators won’t leave pensions alone, the basic principles remain the same. One fact never changes, people become more interested as they get older and the retirement income calculators and all the pages of information will answer some of your questions, and hopefully encourage a greater understanding and preparation. 

income planner pictures