How it works
For each entered year apply its return to the current balance, then take the entered year-end withdrawal. Stop at the first withdrawal that cannot be fully funded.
Input definitions
- CSV: year,annual return percent,year-end withdrawal
- Plain text; maximum 200,000 characters.
- Opening portfolio balance
- Enter the value in the labeled unit.
A worked example
- CSV: year,annual return percent,year-end withdrawal
- year,return,withdrawal 1,0,1000 2,0,1000
- Opening portfolio balance
- 10000
Assumptions & limits
Single-currency illustration using your entered amounts and rates, not a recommendation, approval or forecast. No automatic tax rules or market data.
Sources & review
Maintained by AnsRio. Methods and examples use automated checks; this does not imply independent professional certification.
Method updated 2026-10-17. Content checked against the stated method and examples. Our verification approach.
Common questions
Why does the order of returns matter when withdrawing?
Withdrawals change the amount exposed to later gains or losses. Early losses can therefore produce a different ending balance even when the same annual returns occur in another order.
How does Year-by-year variable-return drawdown work?
For each entered year apply its return to the current balance, then take the entered year-end withdrawal. Stop at the first withdrawal that cannot be fully funded.
What are the limits of Year-by-year variable-return drawdown?
Single-currency illustration using your entered amounts and rates, not a recommendation, approval or forecast. No automatic tax rules or market data.
How do I keep the full worksheet?
Run the tool and choose Download file. The on-page table is a preview and may show only the first 20 rows; the downloaded file contains the full result. CSV downloads escape spreadsheet formula prefixes. Inputs and files are processed on your device.