Investboard …
Calculator · FIRE & freedom
How long will your assets last?
The calculator simulates the withdrawal phase year by year, with flat tax on withdrawals, the annual advance lump sum and crediting under Section 19 InvStG.
Investboard calculates your optimal withdrawal plan automatically.
Start free. Pro from EUR 11.99/mo.
A systematic plan for withdrawing money from your portfolio on a regular basis, whether during the drawdown phase or in retirement.
A constant (inflation-adjusted) withdrawal gives a stable standard of living but consumes more capital. A percentage-based withdrawal avoids depleting capital but fluctuates with the market.
Every withdrawal from an ETF portfolio triggers the Abgeltungsteuer. In addition, the Vorabpauschale (advance lump sum) applies each year to the remaining portfolio.
Even during the withdrawal phase, the Vorabpauschale is calculated each year on the remaining portfolio value, an often-overlooked cost factor.
Calculate Kapitalertragsteuer (capital gains tax), Solidaritätszuschlag (solidarity surcharge), and Kirchensteuer (church tax) on your capital earnings.
Calculate now →What remains of your dividend after Abgeltungsteuer, solidarity surcharge, and church tax?
Calculate now →Calculate the advance lump sum tax on your ETFs and funds, for the 2024 to 2026 tax years, each due in January of the following year.
Calculate now →Which ETF type gives you more wealth after German taxes? Long-term comparison with Vorabpauschale, partial exemption, and saver's allowance.
Calculate now →Distribute your saver's allowance across banks and brokers without leaving allowance unused.
Calculate now →Calculate your wealth after 10, 20, or 30 years, optionally with German tax deduction (Vorabpauschale).
Calculate now →How much financial cushion do you need?
Calculate now →How much do you need for your property?
Calculate now →Calculate tax-free allowances and tax liability
Calculate now →What will your child's savings plan grow to?
Calculate now →When will you reach financial independence?
Calculate now →What's missing for your retirement?
Calculate now →There is no single correct withdrawal strategy, only a trade-off between stable income, preserved purchasing power and the probability that the portfolio outlives your horizon. The calculator models three classic variants:
| Strategy | Withdrawal amount | Character |
|---|---|---|
| Constant nominal | Fixed euro amount per month | Predictable, but loses purchasing power in real terms |
| Inflation-adjusted | Fixed amount, raised by inflation each year | The logic behind the 4% rule: income constant in real terms |
| Percentage | Fixed share of the current portfolio value | Never fully depletes the portfolio, but fluctuates with the market |
In Germany two taxes act simultaneously during decumulation, and this is where the calculator differs from simple withdrawal tools:
1. Abgeltungsteuer on realised gains. Every withdrawal sells units and realises the gain inside them. The calculator grosses the withdrawal up so that your desired amount remains after tax. It follows the statutory order: crediting of Vorabpauschale amounts already taxed (Section 19 InvStG), then the 30% partial exemption for equity funds, then the year's remaining saver's allowance, and 26.375% on the rest.
2. Vorabpauschale on the remaining portfolio. During withdrawal the portfolio stays invested in accumulating funds and triggers the annual Vorabpauschale (base rate 2026: 3.20%). The calculator deducts it year by year and credits it on later sales, so nothing is taxed twice.
The taxes other calculators skip
Most withdrawal-plan calculators ignore taxes. Investboard accounts for both the Abgeltungsteuer on withdrawals and the Vorabpauschale on the remaining portfolio, which can make a difference of 4 years. The return is assumed to stay constant.
Inputs
Expected return p.a.
0–5 %
Withdrawal strategy
Fixer EUR-Betrag. Kaufkraft sinkt mit Inflation.
Your Tax Profile
of EUR 1.000
Your withdrawal plan
Your capital lasts
44 yearsBy this calculation the capital would be depleted after about 44 years.
At a constant return; sequence-of-returns risk is not modelled.
Portfolio trend
You need EUR 500.000,00 for your FIRE plan. With Investboard you track your progress automatically, with a forecast, milestone markers and daily updates.
Your calculation result is carried over automatically as a goal target.
The calculator assumes 70% of each withdrawal is capital gain, a deliberately cautious assumption. The lower your actual gain share, the lower the tax and the longer the capital lasts.
The central figure is the reach: how many years does the portfolio carry the chosen withdrawal, or does it carry it indefinitely? The calculator also shows the effective withdrawal rate in year one, the sum of net withdrawals, the total tax burden and the remaining capital after 15 and 25 years.
The model assumes a constant return. Real markets fluctuate, and a poor sequence of returns early in the withdrawal phase can shorten the reach considerably (sequence-of-returns risk). Plan with a buffer; our guide to withdrawal strategies goes deeper into the trade-offs.