Withdrawal Simulator
Plan your retirement cashflow: portfolio, pensions, taxes, inflation across the DACH region.
- Monte Carlo
- DACH taxes
- Withdrawal rules
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This retirement withdrawal calculator is built for the question English-speaking savers usually ask after the accumulation phase: how much can I take from my portfolio without running out of money? It combines portfolio size, withdrawal strategy, pension income, inflation, taxes and Monte Carlo risk for Germany, Switzerland and Austria.
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Example calculations
Age 52, retirement planned at 55, 750,000 EUR ETF portfolio, 60/30/10 allocation, statutory pension from age 67 and an initial 4% withdrawal strategy.
A 4% start rate means 30,000 EUR per year before tax. The simulator shows whether the portfolio can bridge the years before pension income starts and how German capital-gains tax affects the net monthly amount.
This is the classic expat-in-Germany FIRE question: the danger is not only the average return, but a poor market sequence in the first retirement years.
Zurich resident, retirement at 65, AHV and occupational pension income, 1,100,000 CHF investment portfolio and a dynamic withdrawal rate instead of a fixed monthly amount.
The model lets portfolio income move with markets while AHV and BVG income cover the base budget. Canton, marital status and capital-withdrawal assumptions can materially change the after-tax picture.
For Switzerland, the useful comparison is usually not only Zurich versus Zug or Geneva. It is also annuity versus capital, and staggered withdrawals versus one large pension-pillar payout.
Age 60, statutory pension expected at 65, 450,000 EUR securities portfolio and a fixed 2,000 EUR monthly withdrawal adjusted for inflation.
The calculator separates pension income from portfolio withdrawals, then projects whether the fixed drawdown survives until the planning age. Austrian capital-income taxation can make the net result different from a simple gross withdrawal plan.
Fixed withdrawals feel stable, but they need regular review when inflation or market returns move away from the original assumption.
Married couple, 900,000 EUR/CHF portfolio, 3.5% lower guardrail, 5.0% upper guardrail, annual inflation adjustment and pension income starting later.
Guardrails allow withdrawals to rise after strong markets and pause or fall after weak markets. The Monte Carlo result is often more informative than a single best-case projection.
This scenario is useful when the goal is not maximum spending every year, but a retirement income plan that can adapt without emotional market timing.
Frequently asked questions
What does a retirement withdrawal calculator do?
It turns a portfolio into a retirement income plan. Instead of only asking how large the portfolio may become, it estimates monthly withdrawals, tax drag, pension income, inflation, final balance and the probability that the money lasts to the planning age.
Is the 4% rule safe for Germany, Switzerland or Austria?
The 4% rule is a starting point, not a guarantee. It was built from historical market data and a 30-year horizon, mostly using US market assumptions. European retirees should test lower rates, longer horizons, taxes, currency exposure, pension timing and sequence-of-returns risk.
What is the difference between fixed and dynamic withdrawals?
A fixed withdrawal gives a stable monthly amount, often adjusted for inflation. A dynamic withdrawal takes a percentage of the current portfolio. Fixed income is easier to budget, while dynamic withdrawals reduce the risk of fully depleting the portfolio after market losses.
How do guardrails work?
Guardrails start with a target withdrawal rate and then adjust spending when the effective rate gets too high or too low. In strong markets, withdrawals may rise. In weak markets, raises can be skipped or spending can be reduced before the portfolio is damaged too far.
How does Monte Carlo simulation help?
Monte Carlo simulation runs many randomized market paths instead of one smooth average return. That helps expose sequence risk: two plans with the same average return can have very different outcomes if losses happen early in retirement.
How are withdrawals taxed in Germany, Switzerland and Austria?
The simulator separates pension income, capital gains and country settings because the tax mechanics differ. Germany has capital-gains tax and fund partial exemptions, Switzerland has cantonal income and wealth-tax logic plus pension-pillar withdrawal questions, and Austria treats capital income differently from pension income.
Should I include statutory pension in the withdrawal plan?
Yes. For many DACH retirees, public or occupational pension income starts after the portfolio drawdown begins. Adding those income sources makes the bridge years visible and prevents the calculator from treating the portfolio as the only retirement resource.
Can expats and cross-border retirees use this calculator?
Yes, but residency matters. The calculator is useful for English-speaking residents and cross-border planners because it compares DACH country settings, but final taxation depends on residence, treaty treatment, pension source and individual facts.
Related calculators
- DACH pension calculatorEstimate statutory and occupational pension income before building the portfolio withdrawal plan.
- Compound interest calculatorProject how savings and investment returns can build the portfolio before retirement.
- Swiss tax comparisonCompare Swiss canton and municipality tax effects before modelling retirement income.
- Gross-net salary calculatorEstimate current take-home pay and savings capacity before the drawdown phase.
Helpful guides
Federal, cantonal, and municipal layers, the Steuerfuss multiplier, Quellensteuer, and Pillar 3a — a practical 2026 overview, tied to our tax comparison calculator.
Public pensions, AHV/BVG, pension account, and private savings rate in one DACH workflow.
How the compound interest effect turns savings rate, time and return into wealth — with live strategy comparison and tax-advantaged vehicles in Germany and Switzerland.