Retirement Income Answers
Yes, in plain English. This page answers the retirement income questions people search for most, including when to claim Social Security, how safe withdrawal rates work, how Roth conversions can lower your taxes, what IRMAA surcharges are and how to avoid them, how Required Minimum Distributions affect your plan, and how guaranteed lifetime income, which we call Protected Lifetime Income (PLI), can shield your essentials from inflation and market risk. Each question has a short, clear answer and a link to the full explanation so you can go as deep as you need.
Your Retirement Paycheck: Guaranteed Income for Life
Jump to a section
- Retirement Income Basics
- How Much Can I Safely Spend?
- Taxes, Social Security and Medicare Costs
- Making the Most of What You’ve Saved
- Protecting Your Income From Inflation and Bad Markets
- How Much Income Will My Savings Create in My State?
- How My State Taxes Retirement Income
- Healthcare and Medicare in Retirement
- Calculators and Tools
- What Retirement Actually Costs
Foundational Concepts … Lifestyle-First & PLI
How much income will $500,000 generate in retirement?
A $500,000 nest egg can provide $15,000–$20,000 per year using traditional withdrawal rates, but pairing your savings with Social Security and Protected Lifetime Income (PLI) helps lock in essentials and lets your investments fund upgrades and adventures.
Is $500,000 enough to retire?
$500,000 can be enough to retire when paired with Social Security and a Lifestyle-First plan. The real question is whether your income covers your must-haves and favorite experiences.
Is $600,000 enough to retire?
$600,000 can work well in retirement when your gap, the difference between what your life costs and the income you already have, is manageable. See three couples with the same $600,000 and very different outcomes in is $600,000 enough to retire.
Is $1 Million Enough to Retire?
$1 million can support a comfortable retirement when paired with Social Security and a Lifestyle-First income plan. See how far $1 million really goes and what it takes to make it last.
What is a GLWB (Guaranteed Lifetime Withdrawal Benefit)?
A GLWB is a feature on certain income solutions that provides a steady income stream for life, no matter how markets perform. It helps create Protected Lifetime Income (PLI) you cannot outlive.
What is Lifestyle-First Income Planning?
Lifestyle-First Income Planning secures your essentials and non-negotiable adventures with PLI, then uses investments for flexibility and upgrades. This approach builds a guaranteed income floor first.
What is Protected Lifetime Income?
Protected Lifetime Income (PLI) is a guaranteed income stream sized to cover your must-have expenses and experiences, so you never have to cut back when markets drop.
How is this different from the 4% rule?
Unlike the 4% rule, which assumes you’ll cut spending if markets fall, Lifestyle-First planning secures your must-have income with PLI first, so market downturns never force painful cuts.
Are fees really that big a deal in retirement?
Yes, a 1% fee doesn’t sound like much, but over a retirement it can cost tens of thousands of dollars in income you could have spent. See exactly what it’s costing you with the Fee Impact Calculator.
Is a 401(k) really the best way to save for retirement?
The math says otherwise for many people, the tax bill hiding inside a traditional 401(k) can be significant. Read I Drank the 401(k) Kool-Aid. Here’s What the Math Actually Says.
What do I do with what I have already saved?
You spent decades building it, and nobody ever showed you how to turn it into a paycheck. This is the Lifestyle-First approach to converting savings into income that keeps showing up.
Can I retire at 62?
The real answer depends on what you have saved and what your life costs, not on some rule of thumb. See the income reality at different savings levels before you make the call.
Can I retire at 62 with $750,000?
At 62, $750,000 might clear the line. Depends on how much income you need it to create. Which means the question you need answered is how much of it to turn into a protected income floor and how much to leave growing.
Can I retire at 65?
If 62 felt out of reach, three more years changes more than you would think. Those years grow your Social Security, your savings, and what the right amount of a protected income floor can pay you.
Is my retirement money really liquid?
Only partly, and that is true of an annuity and of a stock and bond portfolio. The difference is that one of them shows you how much liquidity really costs you and the other one does not.
Are fees really costing me that much?
A 1% advisory fee sounds small on paper. Over 20 years it can cost you hundreds of thousands of dollars, and it takes something else besides the money. Fees also reduce the amount of income you can safely spend.
Withdrawal Strategies & Safe Withdrawal Rates
What’s a smart withdrawal strategy in retirement?
A smart withdrawal strategy combines guaranteed income for essentials with flexible withdrawals from growth assets for extras. Using PLI can boost spending power and reduce risk from market downturns.
What is a safe withdrawal rate in retirement?
A safe withdrawal rate is a probability your savings last, not a promise. See what it actually promises and how it changes with age.
It is also a probability measured over a fixed number of years, usually 30. J.P. Morgan gives a non-smoking couple in excellent health who are both 65 a 44% chance one of them reaches 95, so see how long you are likely to live before you trust the rate.6
Is the 4 percent rule still safe?
The 4 percent rule is less reliable today because markets are more volatile and people are living longer. Building your plan around PLI helps ensure your essentials are covered.
How much do I need to retire?
Instead of chasing a single number, focus on how much steady income you’ll need to cover your must-haves and favorite experiences. PLI is designed to match your real lifestyle. To see the savings you’d need to retire on the life you want, try the free calculator.
What about fees and the average return illusion?
Many investors overlook how fees and the difference between average and actual returns can quietly shrink their retirement savings. Focusing on net returns and minimizing costs helps you keep more of your money.
Why the 4% safe withdrawal rule can fail today and what to use instead
The 4% rule was created for a different economic era. Using PLI for essentials and flexible withdrawals for extras creates a more resilient retirement income plan.
FIAs with GLWB vs SPIA vs DIA: Which creates better lifetime income for my goals?
PLI solutions come in different forms, each with unique features. Comparing options side by side helps you find the best fit for your timing, liquidity needs, and survivor benefits.
What is the 10-year FIA + GLWB runway strategy before retirement?
Starting a PLI solution several years before retirement can boost your future income. Giving your benefit base time to grow means higher payouts when you’re ready.
Can bucket or guardrail strategies prevent spending cuts?
Bucket and guardrail strategies help organize your withdrawals, but they can’t fully protect you from market downturns. PLI locks in income for essentials.
Does ‘living off dividends’ reduce risk, or just change it?
Relying only on dividends can expose you to risks if companies cut payouts. Combining a total-return approach with PLI for essentials helps create a more stable and flexible retirement income.
How do fees and taxes quietly cut retirement income?
Fees and taxes can quietly erode your retirement savings over time. Coordinating your withdrawal strategy, minimizing fees, and using PLI can help you keep more of your money.
Do I have to spend down my retirement savings and hope it lasts?
Most plans leave you two bad options, spend too little and miss your best years, or spend freely and worry the whole time. There is a third way that does not ask you to guess.
Does the 4% rule still work if I retire early?
The 4% rule was built around a 30-year retirement. Retire at 55 and yours might run 40 years, which pushes the safe starting withdrawal rate down closer to 2.34%.
Does retirement spending stay flat every year?
It does not. Spending tends to be highest early, ease off in the middle years, then rise again later, and that pattern changes how much guaranteed income you actually need.
Can I still catch up if 55 or 60 feels out of reach?
Coming up short on your number is more common than you would guess, and the years right before retirement are more powerful for your income than most people realize. There is one lever here that traditional planning typically doesn’t want you to know about.
Taxes, Social Security & IRMAA
How do taxes, IRMAA, and market drops fit in?
Taxes, Medicare IRMAA surcharges, and market downturns can all impact your retirement income. Planning ahead with PLI, smart withdrawal timing, and proactive tax strategies helps you avoid surprises.
When should I claim Social Security?
The best time to claim Social Security depends on your health, family situation, and other income sources. With PLI covering your essentials, you can delay claiming for a higher benefit.
How do Roth conversions lower lifetime taxes?
Roth conversions move money from tax-deferred accounts to tax-free ones, reducing future RMDs and possibly lowering Medicare surcharges.
What is IRMAA and why does it matter?
IRMAA is a Medicare surcharge that increases your premiums if your income goes above certain limits. Managing your income sources and timing withdrawals can help you avoid IRMAA.
What about Required Minimum Distributions (RMDs)?
Once you reach the required age, the IRS makes you withdraw a minimum amount from traditional retirement accounts each year.7 Planning ahead with Roth conversions and PLI can help you manage these withdrawals.
Do you pay taxes on Social Security income?
Most retirees are surprised by how quickly it happens, and how much of their benefit gets taxed once other income stacks on top. Read Do You Pay Taxes on Social Security? Here’s How Fast It Happens! or run the numbers yourself with the Social Security Tax Torpedo Calculator.
What is the tax torpedo, and how do I avoid it?
It’s what happens when RMDs, Social Security, and ordinary income stack up and push you into a far higher bracket than expected. See how the avalanche builds in I Drank the 401(k) Kool-Aid and run your own scenario with the Social Security Tax Torpedo Calculator.
What happens to a surviving spouse’s taxes when their partner dies?
Tax brackets narrow dramatically and many surviving spouses face a higher tax bill at exactly the wrong time. Read the full story: She Lost $22,000 in Income When Her Husband Died. Her Tax Bill Went Up $5,000.
What happens when I inherit an IRA?
The SECURE Act 10-year rule means heirs can no longer stretch distributions over a lifetime, the entire account must be distributed within 10 years, often at peak tax rates. Read You Just Inherited an IRA. Before You Touch That Money, Read This.
Are Roth conversions a good idea?
For many people a conversion will not leave them with more to spend, it is really a more tax efficient gift to their kids. Here is who conversions help, who they hurt, and how to tell which one you are.
Where does the tax money come from on a Roth conversion?
Where you pay the tax from can make a Roth conversion more efficient but isn’t the true deciding factor. There are many more variables that come into play in making the final decision. Make sure you get a comprehensive analysis including all the variables needed for your particular situation.
Are free Roth conversion calculators accurate?
Most of them leave out the things that actually decide the answer. Your Social Security taxation, your Medicare IRMAA surcharges, and your state’s rules are usually missing entirely.
Is a Roth conversion mostly a gift to my kids?
Often, it can be. Which may be exactly what you want. If you’re more focused on how much it benefits you, plans typically need to be started earlier in life. There are no true rules of thumb here, run a comprehensive analysis with up to 30 variables and see for yourself. If you have kids you’d want any remaining money to go to, then we tend to call that the ‘poison pill’ that makes more Roth conversions make sense.
Who should do a Roth conversion?
It is not about how much you have in pre-tax retirement savings. It’s more about whether you plan to spend the money or leave it. Spenders and leavers tend to get very different answers to the same question.
Will a Roth conversion actually leave me with more money?
For many retirees it helps their heirs more than it helps them. Whether you are a spender or a leaver, and whether you set up an income floor early, changes the answer. Get a comprehensive analysis done with someone who has access to financial tools testing up to 30 variables to help you with your decision.
What happens if I leave a 401(k) to my kids?
The tax you deferred does not go away, it passes to them. Under the 10-year rule your adult children have to empty the account fast, often in their highest earning years. Which can significantly increase how much money the Internal Revenue Service gets and how much your kids get.
When is the best time to do a Roth conversion?
The window usually opens right after you retire and closes when required distributions start at 73 or 75. Those in-between years are the ones most people never use. If you have a very large pre-tax retirement account balance (401k/IRA type accounts) you need to look hard at starting earlier or significantly increasing the amounts you convert each year.
Whose tax plan am I on, mine or Uncle Sam’s?
Between the day you retire and the day distributions are required, you have more control over your tax bill than at any other time. There are several aspects to consider including an IRMAA trade-off and what matters most to your heirs.
Will my tax rate really be higher in retirement?
It is not about where future tax rates go. It is about your own effective rate, and the forces that work together to push your taxable income up whether you want them to or not. Income in retirement is taxed quite differently than it was while you were working.
How do I wait for a bigger Social Security check without draining my savings?
Most income bridge plans pull from your 401(k) to cover the gap until 70, which is exactly when a bad market hurts the most. A protected income bridge funds those years without that risk.
What are the two kinds of Social Security bridge?
Retire at 55 or 60 and you need income before Social Security starts. A long income bridge and a short income bridge are built and priced in completely different ways.
When should I claim Social Security if I retire early?
Claiming age is the first question most everyone asks, and it barely decides whether early retirement works. The lever that actually moves the outcome is a different one.
Making the Most of What You’ve Already Saved
I’ve saved and done everything right, why am I still afraid to spend in retirement?
Fear of running out is real, but under-spending the life you worked for has a cost too. Read The Retirement You Already Paid For.
What is a retirement income floor, and do I need one?
An income floor is the layer of guaranteed income that covers your essential expenses no matter what the market does. See how to build one: Your Retirement Income Floor.
Why do people tell a mortgage broker more than they tell their financial planner?
People hand a mortgage broker every number they have, mainly because they want something from the mortgage lender. Then they hold things back from the person planning their retirement. Any plan built on a partial financial picture is a partial plan.
Inflation, Sequence Risk & Income Protection
How do I protect against inflation and sequence risk?
To protect against inflation and sequence-of-returns risk, build a guaranteed income floor for essentials with PLI, then use growth assets for long-term purchasing power.
Are annuities ever a fit?
Certain income solutions can be a fit for retirees who want steady, guaranteed income for life. Protected Lifetime Income (PLI) is the preferred approach for covering essentials, offering flexibility and security.
Are annuities safe? What are the pros and cons?
Income protection solutions are backed by insurance companies, not the stock market. Pros include steady income and less market worry; cons are limited access to your money and the need to choose a strong insurer.
How does sequence of returns risk threaten retirees even with ‘average’ returns?
Sequence of returns risk means that if you experience poor investment returns early in retirement, your savings may not recover…even if your average return looks good. PLI shields your essential spending from this risk.
State-Specific Retirement Income Scenarios
How much guaranteed retirement income can I get with $200,000 in Missouri?
With $200,000, the old 4% rule suggests about $8,000 per year, but starting a Protected Lifetime Income (PLI) plan 5 years before retirement could illustratively provide $20,276 per year…over 153% more income. Results vary; starting early can make a big difference.
How much guaranteed retirement income can I get with $300,000 in Kansas City, Missouri?
A $300,000 nest egg could mean $12,000 per year with the 4% rule, but starting a PLI plan early could illustratively provide $30,414 per year…over 153% more. The earlier you start, the more income you may secure for life.
How much guaranteed retirement income can I get with $350,000 in Springfield, Missouri?
With $350,000, the 4% rule gives about $14,000 per year, but a PLI plan started 5 years early could illustratively provide $35,483 per year…over 153% more. Early planning can nearly double your protected income.
How much guaranteed retirement income can I get with $400,000 in St. Louis, Missouri?
With $400,000, the 4% rule suggests about $16,000 a year. A Protected Lifetime Income plan started 5 years before retirement could illustratively provide $40,552 a year, far more than the old rule from the same savings.
How much guaranteed retirement income can I get with $400,000 in Florida?
With $400,000, the 4% rule suggests $16,000 per year, but starting a PLI plan 5 years before retirement could illustratively provide $40,552 a year, far more than the old rule. Early action can help you lock in more income for life.
Can you retire at 62 with $400,000?
For most couples, $400,000 at 62 is tight on its own. By protecting about half for Protected Lifetime Income and stacking two Social Security checks, a couple can illustratively build roughly $43,000 a year for life, with $200,000 still liquid and growing.
Can you retire at 65 with $400,000?
Waiting to 65 adds Medicare eligibility, a higher Social Security check, and a stronger annuity factor.10 A couple can illustratively build roughly $49,848 a year for life, with $200,000 still liquid and growing.
Can you retire at 67 with $400,000?
At 67, Social Security reaches its full retirement age benefit for most people born in 1960 or later, and the annuity factor is stronger than at 65.9 A couple can illustratively build roughly $55,464 a year for life, with $200,000 still liquid and growing.
Can you retire at 70 with $400,000?
At 70, Social Security is maxed and the annuity factor is at its strongest. A couple can illustratively build roughly $69,000 a year for life, with $200,000 still liquid and growing.
What if you just want the age, not a dollar scenario?
Two straightforward starting points: Can I retire at 55? and Can I retire at 60? walk through what it actually takes at each age, savings level by savings level.
What do you do about health insurance if you retire before 65?
Medicare doesn’t start until 65. If you retire early, you need a health coverage bridge. For most people that means a Marketplace plan under the ACA, and what you pay depends on your income. The shape of your Protected Lifetime Income floor directly affects the premium you qualify for.
How much guaranteed retirement income can I get with $300,000 in Kansas?
$300,000 can create a reliable Protected Lifetime Income (PLI) foundation in Kansas that gives you steady, guaranteed income for life, no matter what markets do. Starting early can nearly double what you would get by waiting.
How much guaranteed retirement income can I get with $300,000 in Nebraska?
$300,000 in Nebraska can fuel a Protected Lifetime Income (PLI) plan that pays you a steady, guaranteed amount every month for life, with no market risk on your essential income. Acting early puts you in a far stronger position than waiting until retirement day.
How much guaranteed retirement income can I get with $200,000 in Iowa?
$200,000 can generate more Protected Lifetime Income (PLI) in Iowa than most people expect, particularly when you build your plan years before you retire. Earlier planning locks in higher payout rates, so your income floor is stronger from day one.
How much guaranteed retirement income can I get with $200,000 in Missouri?
See real payout figures for $200,000, how Missouri treats retirement income, and what that check covers across the state.
How much guaranteed retirement income can I get with $250,000 in Iowa?
See real payout figures for $250,000, how Iowa treats retirement income, and what that income actually covers.
How much guaranteed retirement income can I get with $300,000 in Kansas?
See real payout figures for $300,000, how Kansas treats retirement income, and what that income actually covers.
How much guaranteed retirement income can I get with $350,000 in Springfield, Missouri?
See real payout figures for $350,000 and what that income buys in Springfield specifically, not statewide averages.
State-Specific Retirement Tax Rules
Does Missouri tax Social Security?
No, Missouri fully exempts Social Security benefits from state income tax as of 2026, for anyone age 62 or older, with no income limits or phase-outs.1 All residents receive this exemption, but federal taxes may still apply depending on your total income.
Does Florida tax Social Security?
No, Florida does not tax Social Security benefits because it has no state income tax at all.2 All retirement income, including pensions and IRA withdrawals, is 100% exempt from state taxation. Federal taxes may still apply based on your total income.
Does Kansas tax Social Security?
No. Kansas fully exempts all Social Security benefits from state income tax for every resident, with no income threshold.3 The former $75,000 AGI limit no longer applies. Federal taxes on a portion of your Social Security may still apply based on your total income.
Does Nebraska tax Social Security?
No. Nebraska fully exempts all Social Security benefits from state income tax.4 There are no income thresholds, no phase-outs, and no age requirements to qualify. Federal taxes may still apply based on your total combined income.
Does Iowa tax Social Security?
No. Iowa fully exempts Social Security benefits from state income tax for ALL residents.5 Iowa also exempts other retirement income (pensions, IRAs, 401(k)s, annuities) for residents age 55 or older, disabled, or qualifying survivors. There is no income cap.
Healthcare in Retirement
Medicare Advantage vs. Medigap: how do I choose?
Medicare Advantage plans usually offer lower premiums and extra benefits like dental and vision but require you to use a provider network. Medigap costs more monthly but lets you see any Medicare provider nationwide with predictable out-of-pocket costs. The best choice depends on your health, travel needs, and budget.
Educational only…not tax, legal, or individualized investment advice. Guarantees rely on the issuing insurer’s claims-paying ability. Any figures shown are illustrative and may differ for your situation based on age, health, product features, fees, allocations, and market conditions.
Also: Lump Sum vs. Monthly Income: Which Should You Choose in Retirement?, A MetLife study found one in five retirement lump sums were gone in about 4.5 years.8 See the same money as a monthly paycheck for life.
About Kurt H. Jackson
Experience: Kurt H. Jackson has spent more than 16 years working directly with retirees and pre-retirees in Missouri, Nebraska, Kansas, Iowa, and Florida. Before founding KJ Financial, he spent 20+ years as a Certified Mortgage Planner working with more than 1,000 clients on major financial decisions.
Expertise: Kurt is a Retirement Lifestyle Architect and the creator of the Lifestyle-First Retirement Income Planning framework. He is Life and Health Insurance Licensed in MO, NE, KS, IA, and FL. His practice focuses exclusively on insurance-based, tax-optimized retirement income strategies including guaranteed lifetime income, which we call Protected Lifetime Income or PLI, Roth conversion planning, and the Tax Avalanche. He does not manage investments or sell securities.
Authoritativeness: Kurt founded KJ Financial and operates MaxMyRetirementIncome.com as a dedicated educational resource for retirees. His Lifestyle-First framework starts with the retirement the client actually wants, builds a guaranteed income floor to make it certain rather than probable, and manages the remaining assets as true long-term money. The research supporting this approach comes from J.P. Morgan, BlackRock, Morningstar, and peer-reviewed academic work by David Blanchett and Michael Finke. The framework connecting them is his. Every income figure published on this site is based on actual carrier quotes and current research, updated regularly.
Trustworthiness: KJ Financial is a compliance-first firm. All income figures are presented as illustrative and hypothetical. Kurt H. Jackson is not a securities broker, registered investment advisor, or CPA. Guarantees rely on the claims-paying ability of the issuing insurance company.
Contact KJ Financial:
1014 E. 5th St., Maryville, MO 64468
Direct: 816.582.5532
Email: kurt@kjfinancialonline.com
Website: www.MaxMyRetirementIncome.com
See it on your own numbers
Want to see your own Tax Avalanche?
A general warning is easy to wave off. Your own number is a lot harder to ignore. Put in a few rough figures and watch the cascade unfold, the withdrawal the government will force you to take, how much of your Social Security it can drag into being taxed, and what it can do to whichever spouse is left behind. It takes about two minutes, and you walk away with a one-page snapshot to keep.
Calculators and Tools
How long will my money last in retirement?
That depends less on your rate of return than on when the bad years show up. This free calculator shows where the real risk hides, and what changes when part of your income is guaranteed.
Is my savings enough to retire?
Enough is not a dollar amount, it is whether your income covers the life you actually want to live. This free calculator checks what you have saved against that life three different ways.
Should I convert my IRA to a Roth?
Somebody probably told you to convert, and a conversion is not something you can undo. The free Triple Promise check walks you through which situation you are actually in before you write the check.
What would a random Tuesday look like for you in retirement?
Our Lifestyle-Planning practice is focused on you living your best retirement lifestyle, here are five short questions, no money and no numbers. Describe one ordinary day in the retirement you want, and then we can talk about what it takes to fund it.
What Retirement Actually Costs
What does a country club membership actually cost?
Dues run from $642 to $24,243 a year, data from several clubs’ own websites in August 2026. The dues also leave things out, and there are senior rates nobody advertises.
What does a bucket list golf trip actually cost?
Nine bucket list courses, priced straight off each resort’s own rate card in August 2026. The green fee is not the whole bill.
Sources
- Missouri Revised Statutes, Section 143.125, Social Security benefits income tax exemption. The Missouri statute itself. It defines Benefits as Social Security received by a taxpayer age sixty-two years of age and older, or Social Security disability benefits, sets the exemption at 100 percent, and states that for all tax years beginning on or after January 1, 2024 a taxpayer receives the maximum exemption regardless of filing status or Missouri adjusted gross income.
- Constitution of the State of Florida, Article VII, Section 5(a). The state constitution itself, which says no tax upon the income of natural persons who are residents or citizens of the state shall be levied by the state, which is why Florida has no personal income tax on Social Security, IRA withdrawals or annuity income.
- Kansas Statutes Annotated, 79-32,117(c)(xviii)(B). The Kansas statute itself, which subtracts from income, for all taxable years beginning after December 31, 2023, amounts received as benefits under the federal Social Security Act that are included in federal adjusted gross income. There is no age condition and no income condition; the former $75,000 ceiling ended with tax year 2023.
- Nebraska Revised Statutes, Section 77-2716(14). The Nebraska statute itself, which reduces federal adjusted gross income by one hundred percent of Social Security benefits for taxable years beginning on or after January 1, 2024, and defines Social Security benefits as benefits received under the federal Social Security Act.
- Iowa Department of Revenue, IA 1040 Schedule 1 expanded instructions. Iowa’s own line-by-line instructions, where Line 5, Social Security Benefits, sits in the subtraction column with no age condition and no income condition. The age 55 condition that is often misread as applying to Social Security belongs to Line 7, IRA, pension and railroad retirement income.
- J.P. Morgan Asset Management, Guide to Retirement 2026, the Life Expectancy Probabilities page. J.P. Morgan’s own longevity chart for a non-smoker in excellent health who is age 65 today, giving a man a 64% chance of reaching 85, 43% of 90, 21% of 95 and 6% of 100; a woman 73%, 54%, 30% and 11%; at least one member of a couple 90%, 74%, 44% and 16%; and both members of a couple 47%, 23%, 6% and 1%.
- (Figures are illustrative and hypothetical, as of August 2026. Your own Social Security amounts depend on your work record, so confirm yours at ssa.gov.)
Prefer to run your own numbers? try the retirement income calculator.
Prefer to start with a quick estimate? Use the Retirement Income Calculator: What Will My Savings Pay?
Prefer a guided start? tell us about your life first with a short questionnaire
How much guaranteed income by amount and state:
- How much $300,000 can create in Kansas City, MO
- What $350,000 could generate in Springfield, MO
- What $400,000 could generate in St. Louis, MO
- What $400,000 could generate in Florida
- What $250,000 could deliver in Iowa
- What $200,000 could deliver in Missouri
- IRS, Retirement plan and IRA required minimum distribution FAQs. The IRS page setting out that withdrawals from a traditional IRA or workplace plan must begin at age 73, or 75 for anyone born in 1960 or later, and that the amount is your prior year-end balance divided by a life expectancy factor from the IRS tables.
- MetLife, 2026 Paycheck or Pot of Gold Study. MetLife’s own study page, reporting that one in five retirees have depleted the lump sum from their defined contribution plan, in an average of 4.4 years, and that retirees with money remaining estimate about 11 years’ worth left. MetLife flags the depletion figure as based on a small base and directional only.
- Social Security Administration, Retirement Age and Benefit Reduction. Social Security’s own table showing that full retirement age is 67 for anyone born in 1960 or later, and that a $1,000 benefit claimed at 62 is reduced to $700.
- Medicare.gov, Get started with Medicare. The federal Medicare site stating that Medicare is health insurance for people 65 or older who meet citizenship or residency requirements.
More reading: browse our latest retirement income articles and guides on the blog.
Related: How long will my money last in retirement?
Related: Does Iowa tax Social Security?
Related: Does Missouri tax Social Security?