Free calculator
When could work become optional?
A deterministic read on the earliest age at which stopping work keeps a UK retirement projection solvent to age 95. It sweeps candidate stop-ages through the same tax engine used across EnoughDay and reports the first age that lasts, with a row showing how the answer moves as spending changes. Every figure is a deterministic projection, not a recommendation.
On these assumptions, when could work become optional?
The first candidate stop-age whose deterministic projection funds the target spending every year to age 95.
Earliest stop-age
51
solvent to age 95
| Spending scenario | Annual spending | Earliest stop-age |
|---|---|---|
| Spending 10% lower | £27,000 | age 50 |
| Entered spending | £30,000 | age 51 |
| Spending 10% higher | £33,000 | age 53 |
Assumptions used
- Candidate stop-ages are swept upward from the age entered to age 75; the first age whose projection stays solvent to age 95 is reported as the earliest.
- Deterministic real returns: 5.0% equities, 1.5% bonds, 0.5% cash, 2.5% inflation, blended at a 70/25/5 allocation, net of a 0.4% annual fee. These are planning assumptions, not forecasts.
- Invested wealth is modelled as a taxable account accessible at any age, with cost basis at today’s value so only future growth is exposed to Capital Gains Tax on withdrawal.
- Each working year, earnings cover the spending target first; the stated annual saving is what is left over and is added to an ISA first, up to the annual allowance, then to the taxable account.
- The full new State Pension is added from State Pension age, based on the age entered, using the 2026/27 tax rates and thresholds.
- The projection runs one year at a time from the stop-age to age 95.
A single deterministic path is optimistic next to a range of market outcomes, so the earliest solvent age here sits earlier than a success-rate view across many paths would put it. Results are illustrations of the model, not a statement about any individual.
Keep these figures
EnoughDay will carry only the fields this calculator identifies. You will review wrapper totals before the plan can be saved.
- Age, invested wealth, annual saving, retirement spending and income-tax region
How this is calculated
Each candidate stop-age is run through the same deterministic tax engine and simulation used across EnoughDay. Money is held in integer pence at the compute boundary and formatted for display. The full method, sources and known simplifications are on the methodology page.
For each candidate stop-age the projection runs one year at a time, from that age to age 95. Each year, withdrawals are sized to meet the target after-tax spending, tax is applied, and the pot grows at the deterministic real-return assumptions net of a 0.4% annual fee. The stop-age passes if the pot funds every year to the horizon.
Because solvency only improves with a later stop-age, the sweep steps upward and reports the first age that lasts as the earliest. The sensitivity row repeats the same sweep at spending 10% lower and 10% higher so the effect of the spending target is visible.
Deterministic real returns are 5.0% for equities, 1.5% for bonds and 0.5% for cash, with 2.5% inflation, blended at a 70/25/5 allocation. These are planning assumptions, not forecasts, and one fixed return path does not show the chance of running short if markets are weaker than assumed.
Invested wealth today is modelled as a single taxable account so it can be accessed at any age. Each working year, earnings cover the spending target first and the stated annual saving is the remainder, added to an ISA first, up to the annual allowance, then to the taxable account. A real plan usually mixes pensions, ISAs and taxable accounts, which changes the tax and the earliest age a pension can be reached — that detail lives in the full plan.
FAQ
How is the earliest stop-age worked out?
The tool sweeps candidate stop-ages from the age entered upwards. For each one it runs a single deterministic projection to age 95 using the tax engine, checking that the target after-tax spending is met every year. The earliest candidate that lasts is reported. Solvency only improves with a later stop-age, so the first age that lasts is the earliest that works.
What return and fee assumptions does it use?
It uses deterministic real returns of 5.0% for equities, 1.5% for bonds and 0.5% for cash with 2.5% inflation, blended at a 70/25/5 allocation, and a 0.4% annual fee. These are planning assumptions, not forecasts, and a single deterministic path is optimistic compared with a range of market outcomes.
Does it include the State Pension?
Yes. The full new State Pension is added from State Pension age, based on the age entered. Because it lands later in the projection, it lowers how much the invested pot has to cover in later years.
Why does a small spending change move the age so much?
Higher spending draws the pot down faster and needs a larger balance to last to age 95, so the solvent stop-age moves later; lower spending moves it earlier. The sensitivity row shows the earliest stop-age at spending 10% lower and 10% higher so the effect is visible.
What does 'solvent' mean in this calculator?
A stop-age is treated as solvent when the projection funds the full target after-tax spending in every year from that age to age 95 without the modelled pot running out. If any year falls short, that stop-age is not solvent and the sweep tries the next age up. It is a pass or fail on the single deterministic path, not a probability.
How are the invested wealth and ongoing saving modelled?
Invested wealth today is modelled as a single taxable general investment account, which keeps the illustration simple and lets the pot be accessed at any age, rather than being locked until a pension's normal minimum pension age. Its cost basis starts at today's value, so only future growth is exposed to Capital Gains Tax. Each working year, earnings cover the spending target first and the stated annual saving is what is left over; that saving is added to an ISA first, up to the annual allowance, then to the taxable account. A real projection usually mixes pensions, ISAs and taxable accounts, which changes both the tax and the earliest age each pot can be reached; that detail lives in the full plan.
Why does this differ from the 4% rule?
The 4% rule is a fixed rule of thumb that sets spending as a percentage of a starting pot. This calculator instead runs a full year-by-year projection through the tax engine, so it accounts for Income Tax, Capital Gains Tax and the new State Pension arriving from State Pension age, rather than a flat withdrawal rate. Because it uses one deterministic return path, it does not report the chance of running short if markets are weaker than assumed.