How Long Will My Savings Last If I Become Disabled?
If an illness or injury kept you from working, your savings might have to replace your paycheck. Enter your pay and savings to see how long that money could last on its own, and how long it could last if a disability policy covered part of your income.
About these numbers
Assumes you would need your full gross monthly salary while unable to work, that savings earn nothing, and that any disability benefit is a fixed share of salary paid after the waiting period. Taxes on benefits, benefit caps, cost-of-living changes, and other income are not included. Disability insurance is issued by insurance companies; terms, availability, and cost vary by policy and state.
This calculator is a hypothetical illustration for educational purposes only. Results are based on the assumptions you enter and the method described above, may vary with each use and over time, do not reflect any specific investment or the deduction of fees or taxes unless stated, and are not a guarantee of future results. The tool does not consider every investment, account type, or strategy that may be available to you. It is not investment, tax, or legal advice. Investing involves risk, including possible loss of principal. 4:8 Financial does not provide tax or legal advice; please consult your CPA or attorney regarding your specific situation.
Have a question about this?
A calculator can only go so far. We are happy to walk through your real numbers with you, at no cost.