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Return-order calculator
Swap two annual returns and compare identical planned year-end withdrawals.
Result
How it works
Path A applies the first return then the second; path B reverses them. Each year, the return happens before the withdrawal. Withdrawals cannot exceed available money; unfunded amounts are shown separately. Taxes, fees, inflation and other cash flows are excluded.
Example: 100,000 with −20% then +20% and 10,000 withdrawn each year ends at 74,000. Reverse the returns: 78,000. No withdrawals: both end at 96,000.
CSV files open in spreadsheet apps. They contain your inputs and calculated results, not formulas or a connected financial account.