Does Beyond Payday work if I am already retired?

Yes. Turn on “I’m already retired” in your retirement settings, for yourself and your spouse separately. The projection then starts in withdrawal mode from today: no more contributions, your current income keeps coming in, and each month’s spending is paid from income first and savings after that.

Will it tell me if my money will last in retirement?

It gives you an estimate, not a promise. The plan runs month by month to age 95, or to the age you set for each of you, and shows when savings would run out if they do. With Stress Test or Deep Analysis on, Plan Confidence shows the share of 1,000 or 10,000 tested markets in which your money lasts to that age.

I already claimed Social Security. How do I enter it?

Enter the age you started and the monthly check you get. When the claim age is already behind you, the plan uses the amount you typed as today’s check and raises it each year by the rate you set. Full retirement age follows your birth year, as SSA sets it.

Does it handle required minimum distributions?

Yes. RMDs come out of traditional accounts from age 73, or 75 for people born in 1960 or later, using the IRS Uniform Lifetime Table. For people born in 1959 the planner uses 73, as Treasury’s proposed regulations would; the final regulations leave that year open. If an RMD is more than you need that month, the rest is reinvested in taxable savings. The free RMD calculator shows the same start age and this year’s amount without signing up.

In what order does it take money from my accounts?

Income comes first: Social Security, pensions, annuities, any pay, and HSA money for medical costs. After that, from age 59½, it draws taxable savings, then traditional IRA and 401(k) money, then the HSA for non-medical costs, and Roth last. The order is fixed; you cannot rearrange it.

Is this a budget for retirees too?

Yes. The bills, income, net worth and goals pages are free on every plan, so you can keep an already-retired budget there. The retirement projection that runs your withdrawals, RMDs and survivor years is part of Pro.

Is the drawdown planner free?

The retirement projection is part of Pro. New accounts get a 30-day Pro trial with no card, and keep the Free plan afterwards unless they subscribe. The demo lets you look around a retired couple’s plan without an account.

Do I have to connect my bank or brokerage?

No. You type in balances and amounts from your own statements. Beyond Payday never asks for a login to your bank, brokerage or SSA.

A retirement drawdown planner for people already retired

Already retired? Model your withdrawals, Social Security and required minimum distributions month by month to age 95, or an age you choose — and see an estimate of whether your money lasts.

Start planning free See a retired couple’s plan

30 days of Pro free — no card; keep the Free plan after unless you subscribe ($9/mo).

Already retired

One switch puts the whole plan in drawdown.

Turn on “I’m already retired” and the projection starts in withdrawal mode today. Contributions stop, the income you still have keeps coming in, and savings cover the rest. Set the age to plan until for each of you, 95 unless you change it.

See Pat and Jamie’s retired plan in the demo

Retirement Age

Sample

I’m already retired

Currently retired (age 68)

Projections start in withdrawal mode. All current income continues.

Plan until age · You

Plan until age · Spouse

Spending if one of you passes away

75%

Share of household spending that continues after a spouse’s planned age. Loan, mortgage and property tax payments don’t change.

Illustration of the Retirement Age settings with sample ages. Your own ages and percentages go here.

Withdrawals

Where each month’s money comes from.

Income pays first. Whatever is left comes out of savings in a fixed order: taxable savings, then traditional IRA and 401(k) money, then the HSA for non-medical costs, and Roth last. Required minimum distributions come out on schedule regardless. Before 59½ the order changes to limit early-withdrawal penalties.

Watch the withdrawals in the demo

Your income
Social Security, pensions, annuities, any pay, and HSA money for medical costs.
Taxable savings
Brokerage and other taxable accounts.
Traditional IRA and 401(k)
Required minimum distributions come out on schedule either way.
HSA
For non-medical costs.
Roth
Last.

The order the planner uses from age 59½. An RMD larger than what you need that month is reinvested in taxable savings.

What goes into a retiree’s plan

Every amount is one you enter from your own statements and can change any time. The retirement projection is part of Pro.

Social Security, claimed or not

Already getting checks? Enter the amount you get today. Not yet? Pick a claim age from 62 to 70. Full retirement age follows each person’s birth year, with spousal and survivor benefits for couples.

Required minimum distributions

Withdrawals from traditional accounts start at 73, or 75 if you were born in 1960 or later, and come out every year whether you need the money or not. For people born in 1959 the planner uses 73, which is what Treasury’s proposed regulations say; that year is not final yet. Any amount you don’t spend is reinvested.

Pensions and annuities

Each with its own monthly amount, start age, optional yearly raise and the share that keeps paying your spouse.

Health care and Medicare

Enter your monthly Medicare costs from 65 and, if it applies to you, the extra IRMAA charge as a monthly amount. Insurance before 65 and long-term care can go in too. The planner uses the amounts you enter; it does not work IRMAA out from your income.

If one of you dies first

Set an age to plan until for each of you. From that age the plan pays the survivor share of each pension, switches Social Security to the survivor benefit, and lowers spending to the percentage you choose.

Good and bad markets

Stress Test runs 1,000 possible futures and Deep Analysis runs 10,000. Plan Confidence shows the share of tested markets in which your money lasts to the age you plan for.

Social Security

Checks you already get, or a claim age still ahead.

Enter the check you get today, or try any claim age from 62 to 70 if you haven’t started. Each person’s full retirement age follows their birth year, and a couple’s plan includes the spousal benefit and the survivor switch.

See Social Security in the demo

The same worker, three claim ages

A $3,000 full-retirement-age benefit for someone born 1960 or later (full retirement age 67), adjusted by the SSA’s own factors. Earlier birth years use their own full retirement age.

Claim at 6230% less for claiming early$2,100/mo
Claim at 67Full retirement age$3,000/mo
Claim at 7024% more for waiting$3,720/mo

Plus spousal benefits (the greater of your own or half your spouse’s) and a survivor income analysis for whoever outlives the other.

RMDs

Required minimum distributions, in the plan

Under Treasury’s 2024 final regulations, required minimum distributions start at 73 for people born 1951 through 1958 and at 75 for people born in 1960 or later. The IRS says Roth IRAs have no required withdrawals while the owner is alive.

For people born in 1959, the law as written gives both 73 and 75. The final regulations leave that year open; Treasury’s proposed regulations would make it 73, and the planner uses 73 until the rule is final.

The planner starts each person’s RMDs at their starting age and figures them from the traditional balance using the IRS Uniform Lifetime Table. When an RMD is more than you need, the extra is reinvested in taxable savings, so it still counts toward your plan.

Want just the number? The free RMD calculator shows your start age, this year’s RMD and your first deadline, with no account.

Sources

Federal Register: Required Minimum Distributions, final regulations (July 19, 2024) — verified Sep 25, 2026
Federal Register: Required Minimum Distributions, proposed regulations incl. birth year 1959 (July 19, 2024) — verified Sep 25, 2026
IRS: Retirement topics — Required minimum distributions (RMDs) — verified Sep 25, 2026
SSA: Starting your retirement benefits early (full retirement age by year of birth) — verified Sep 25, 2026

Frequently asked questions

Does Beyond Payday work if I am already retired?: Yes. Turn on “I’m already retired” in your retirement settings, for yourself and your spouse separately. The projection then starts in withdrawal mode from today: no more contributions, your current income keeps coming in, and each month’s spending is paid from income first and savings after that.
Will it tell me if my money will last in retirement?: It gives you an estimate, not a promise. The plan runs month by month to age 95, or to the age you set for each of you, and shows when savings would run out if they do. With Stress Test or Deep Analysis on, Plan Confidence shows the share of 1,000 or 10,000 tested markets in which your money lasts to that age.
I already claimed Social Security. How do I enter it?: Enter the age you started and the monthly check you get. When the claim age is already behind you, the plan uses the amount you typed as today’s check and raises it each year by the rate you set. Full retirement age follows your birth year, as SSA sets it.
Does it handle required minimum distributions?: Yes. RMDs come out of traditional accounts from age 73, or 75 for people born in 1960 or later, using the IRS Uniform Lifetime Table. For people born in 1959 the planner uses 73, as Treasury’s proposed regulations would; the final regulations leave that year open. If an RMD is more than you need that month, the rest is reinvested in taxable savings. The free RMD calculator shows the same start age and this year’s amount without signing up.
In what order does it take money from my accounts?: Income comes first: Social Security, pensions, annuities, any pay, and HSA money for medical costs. After that, from age 59½, it draws taxable savings, then traditional IRA and 401(k) money, then the HSA for non-medical costs, and Roth last. The order is fixed; you cannot rearrange it.
Is this a budget for retirees too?: Yes. The bills, income, net worth and goals pages are free on every plan, so you can keep an already-retired budget there. The retirement projection that runs your withdrawals, RMDs and survivor years is part of Pro.
Is the drawdown planner free?: The retirement projection is part of Pro. New accounts get a 30-day Pro trial with no card, and keep the Free plan afterwards unless they subscribe. The demo lets you look around a retired couple’s plan without an account.
Do I have to connect my bank or brokerage?: No. You type in balances and amounts from your own statements. Beyond Payday never asks for a login to your bank, brokerage or SSA.

More on the engine: retirement planning and planning with a pension.

See how long your savings last

Withdrawals, Social Security, pensions, RMDs and the surviving spouse’s years — in one plan, for you and your spouse.

Start planning free

30 days of Pro free — no card; keep the Free plan after unless you subscribe ($9/mo). After 30 days you keep the Free plan — no charge, no card.

Important: Beyond Payday is a financial planning and tracking tool. It is not a financial advisor, investment advisor, accountant, or tax professional. The information, calculations, and projections it provides are for informational and educational purposes only and are not financial, investment, tax, or legal advice. Projections are estimates, not guarantees — they are based on the numbers and assumptions you enter, and actual results will vary. RMD rules are summarized from IRS and Treasury sources as of the date shown; check your own required distributions with your account provider. Consult a qualified professional before making financial decisions. Beyond Payday assumes no liability for decisions made based on the software.