4% Rule Calculator

The 4% Rule, calculated both directions

Enter your retirement expenses to find the portfolio you need — or enter your portfolio to see what you can safely withdraw. Toggle between 3.0% and 5.0% withdrawal rates to see how the assumption changes everything.

$

$5,000/month

The 4% rule was derived from the 1998 Trinity Study by Cooley, Hubbard, and Walz at Trinity University in San Antonio, Texas. It found that a 4% withdrawal rate adjusted yearly for inflation has a 95%+ historical success rate for 30-year retirements.
Result
Portfolio needed
$1,500,000
Annual expenses:$60,000
Withdrawal rate:4.0%
Multiplier:25.0× expenses

Withdrawal-rate sensitivity

The same expense level produces very different requirements at different SWRs:

SWRPortfolio neededMultiplier
3.0%$2,000,00033.3× expenses
3.5%$1,714,28628.6× expenses
4.0%$1,500,00025.0× expenses
4.5%$1,333,33322.2× expenses
5.0%$1,200,00020.0× expenses

The Trinity Study, in one paragraph

The Trinity Study (1998) is the common name for "Retirement Savings: Choosing a Withdrawal Rate That Is Sustainable," published in the AAII Journal by Philip L. Cooley, Carl M. Hubbard, and Daniel T. Walz — three finance professors at Trinity University in San Antonio, Texas. The study tested fixed-percentage withdrawal rates against historical US stock and bond returns from 1926 onward. Its central finding: a 4% initial withdrawal, adjusted annually for inflation, survived a 30-year retirement in 95%+ of historical periods when the portfolio held a stock-heavy mix. That single number became the "4% rule" that anchors most modern FIRE math — including this calculator.

Why the SWR slider matters

Modern research (Pfau 2020, Morningstar 2023+) argues forward-looking real returns are likely lower than the historical 1926-1998 average. That has pushed many practitioners toward a 3.3%-3.8% safe withdrawal rate for new retirees, especially those planning 40+ year retirements. On the other hand, retirees willing to flex spending downward in bear markets (dynamic withdrawal) historically support 4.5%+ safely. There is no single "right" SWR — the slider above lets you see the trade-off directly.