Investment inputs
Change any field — the historical path updates immediately.
Path used: 1 January 2003 → 31 December 2022 · 20 calendar years of Nifty 50 TRI. Each year is 31 Dec → 31 Dec. Return is applied first, then the SWP is assumed on 31 December. Dataset last complete year: 31 December 2025. Annual returns cannot reproduce intra-year crashes and recoveries.
Withdrawal strategy
Advanced options — inflation
Results dashboard
This page is for leftover corpus after withdrawals on a historical path — not a live market feed, and not growth rate minus withdrawal rate.
1 January 2003 → 31 December 2022. Each year: TRI applied, then withdrawal assumed on 31 December. Not a monthly backtest.
Initial investment
₹50 lakh
₹50,00,000
Initial withdrawal rate
10.00%
Total withdrawn
₹1 crore
₹1,00,00,000
Total growth / loss
₹7.31 crore
₹7,31,21,325
Final corpus
₹6.81 crore
₹6,81,21,325
Corpus survival
Survived
Survived the full 20-year simulation
Lowest corpus
₹50 lakh
₹50,00,000
Maximum drawdown
−54.2%
From a prior peak, ₹1,39,43,001
Nifty 50 TRI CAGR
+16.7%
Market path, including dividends
Leftover corpus CAGR
+14.0%
Final ÷ initial only — ignores income taken
Investor XIRR
+18.3%
Pre-tax — no tax on withdrawals
Assumed dates
Every figure on this page uses these dates
- Simulation window
- 1 January 2003 → 31 December 2022
- Each market year
- Last trading day of December → next 31 December
- Return, then withdrawal
- Assumed 31 December 2003–2022
- Dataset last complete year
- 31 December 2025
Inclusive calendar years. Opening corpus is treated as invested on 1 January of the start year.
One annual TRI step. Intra-year crashes (for example March 2020) are not timed.
The full calendar-year TRI is applied first. The SWP for that year is then deducted, as if taken at year-end.
2026 is not a finished calendar year and is excluded. Periods cannot run past this date.
SWP is assumed to begin on 31 December 2003 — the same date as the first year’s return.
Nifty 50 levels behind TRI
How much the Nifty was in this window
TRI is not a separate market. It is the same Nifty 50 stocks, with dividends reinvested. The price index tells you the headline level; TRI is that price path plus dividends.
Nifty 50 on 31 Dec 2002
1,093.50
Opening level for this path
Nifty 50 on 31 Dec 2022
18,105.30
Closing level for this path
Price multiple
16.56×
Price CAGR +15.1%
TRI CAGR
+16.7%
Dividends add about 1.6% a year versus price
Why two TRI source windows
The NSE Whitepaper TRI table used here is published from 2005. Earlier years use an NSE-based total-return compilation. The price index is the same Nifty 50 in both windows.
2000–2004
1,480.45 (31 Dec 1999)→2,080.50 (31 Dec 2004)
1.41× on price · price CAGR +7.0% · TRI CAGR +9.1%
NSE-based total-return compilation (dividends included). Official Whitepaper TRI table in this app starts 2005, so these five years use the earlier TRI series.
2005–2025
2,080.50 (31 Dec 2004)→26,129.60 (31 Dec 2025)
12.56× on price · price CAGR +12.8% · TRI CAGR +14.2%
NSE Indices Limited, Nifty 50 Whitepaper 2026 (calendar-year TRI in INR).
CAGR with withdrawals
SWP does not raise the market’s CAGR
Nifty 50 price CAGR
+15.1%
Headline index, no dividends
Nifty 50 TRI CAGR
+16.7%
Used in this simulation — same for every SWP rule
Leftover corpus CAGR
+14.0%
(final ÷ initial) only — ignores income taken
Investor XIRR
+18.3%
Pre-tax — no tax on withdrawals
Nifty 50 TRI CAGR for 2003–2022 is +16.7%. That number is the same for every withdrawal rule — it is the index journey, including reinvested dividends. The leftover-corpus CAGR (+14.0%) is below the market TRI CAGR (+16.7%) because withdrawals took money off the table — that is normal, not a market underperformance. Your investor XIRR — initial outlay on 1 January 2003, each year’s actual withdrawal on 31 December, leftover on 31 December 2022 — is +18.3%. XIRR is above TRI CAGR in this window because more of the withdrawals sat after strong years, so a larger corpus had already compounded. That XIRR assumes every withdrawal is received in full, with no tax. If you had never withdrawn, the same TRI path would have grown the starting corpus to ₹10.9 crore. The gap between that figure and your leftover corpus is the income you took, plus the sequence effect of taking it.
XIRR and leftover CAGR can mislead. No tax is taken off withdrawals, and leftover CAGR ignores income already taken. Read leftover corpus first.
If leftover CAGR looks “better” after Pause or Reduce than Fixed, that is because you took less income — not because SWP raised the market’s return. Buy-and-hold on this same TRI path would have been ₹10.9 crore. Your leftover is the remainder after income.
Corpus journey
Closing corpus after each calendar year’s return and withdrawal (1 January 2003 → 31 December 2022). SWP begins in 2003.
Negative market years are marked on the return chart. The corpus line already reflects those years through the sequence of returns.
Market return
Nifty 50 TRI calendar-year return (31 Dec → 31 Dec). Green is positive, red is negative.
Withdrawal flexibility
What flexibility would have changed
Your selected historical period included 3 negative-return years. You ran a Fixed SWP, so planned withdrawals continued in those years. The comparison below shows how pausing or reducing withdrawals would have changed income received and the ending corpus in this same historical sequence. Flexible strategies are not automatically better — they trade income in difficult years for a different portfolio path.
Sequence of returns
Sequence of returns matters
Best market year
2009
+77.6%
Worst market year
2008
−51.3%
Negative years
3
calendar years below 0%
Strong years
7
returns above +30%
TRI CAGR
+16.7%
Leftover +14.0%
Your selected period (2003–2022) compounded at +16.7% a year, but that figure is a summary of a very uneven journey. The best calendar year was 2009 (+77.6%) and the worst was 2008 (−51.3%). The path included 3 negative-return years and 7 years above +30%. For an investor withdrawing regularly, the timing of those drawdowns matters as much as the long-term average. A positive calendar-year return also does not mean the market rose smoothly throughout the year.
Year-by-year market story
Each row is one calendar year. Nifty 50 close is the price index on the last trading day of December. Price % is that close versus the previous 31 December. TRI % is the total-return figure used for growth (price plus dividends). Withdrawal is assumed on 31 December after that TRI.
| Sim yr | Year (31 Dec) | Nifty 50 | Price % | TRI % | Market story | Opening | Growth | Planned | Actual | Rule applied | Closing |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2003 | 1,879.75 | +71.9% | +76.6% | Economic recovery, improving sentiment and strong market momentum triggered an extraordinary bull run. | ₹50,00,000 | ₹38,30,500 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹83,30,500 |
| 2 | 2004 | 2,080.50 | +10.7% | +13.0% | A sharp May election shock was followed by a recovery as the new government provided policy continuity. | ₹83,30,500 | ₹10,82,965 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹89,13,465 |
| 3 | 2005 | 2,836.55 | +36.3% | +39.3% | Strong corporate earnings and capital inflows powered a broad-based bull market. | ₹89,13,465 | ₹35,02,992 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹1,19,16,457 |
| 4 | 2006 | 3,966.40 | +39.8% | +41.9% | A May global rate-hike sell-off was absorbed; growth and liquidity still delivered a powerful year. | ₹1,19,16,457 | ₹49,92,995 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹1,64,09,452 |
| 5 | 2007 | 6,138.60 | +54.8% | +56.8% | Strong liquidity and optimism pushed markets sharply higher into a cycle peak. | ₹1,64,09,452 | ₹93,20,569 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹2,52,30,021 |
| 6 | 2008 | 2,959.15 | −51.8% | −51.3% | The global financial crisis caused one of the worst market crashes in modern history. | ₹2,52,30,021 | −₹1,29,43,001 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹1,17,87,020 |
| 7 | 2009 | 5,201.05 | +75.8% | +77.6% | Massive global stimulus and improving confidence produced a spectacular recovery. | ₹1,17,87,020 | ₹91,46,728 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹2,04,33,748 |
| 8 | 2010 | 6,134.50 | +17.9% | +19.2% | The post-crisis rebound continued, though European debt worries capped the pace of gains. | ₹2,04,33,748 | ₹39,23,280 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹2,38,57,027 |
| 9 | 2011 | 4,624.30 | −24.6% | −23.8% | European sovereign-debt stress and domestic policy uncertainty produced a deep correction. | ₹2,38,57,027 | −₹56,77,973 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹1,76,79,055 |
| 10 | 2012 | 5,905.10 | +27.7% | +29.4% | Policy-reform hopes and global liquidity helped Indian equities rebound strongly. | ₹1,76,79,055 | ₹51,97,642 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹2,23,76,697 |
| 11 | 2013 | 6,304.00 | +6.8% | +8.1% | The US taper tantrum and rupee stress created sharp intra-year swings, yet the year closed positive. | ₹2,23,76,697 | ₹18,12,512 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹2,36,89,210 |
| 12 | 2014 | 8,282.70 | +31.4% | +32.9% | A decisive general-election result and reform optimism drove a strong bull market. | ₹2,36,89,210 | ₹77,93,750 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹3,09,82,959 |
| 13 | 2015 | 7,946.35 | −4.1% | −3.0% | Global risk-off after the yuan devaluation left the calendar year modestly negative. | ₹3,09,82,959 | −₹9,29,489 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹2,95,53,471 |
| 14 | 2016 | 8,185.80 | +3.0% | +4.4% | Demonetisation and a muted earnings cycle produced a low-single-digit year. | ₹2,95,53,471 | ₹13,00,353 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹3,03,53,823 |
| 15 | 2017 | 10,530.70 | +28.6% | +30.3% | Synchronised global growth and domestic inflows fuelled a strong advance. | ₹3,03,53,823 | ₹91,97,208 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹3,90,51,032 |
| 16 | 2018 | 10,862.55 | +3.2% | +4.6% | Trade-war fears and the IL&FS credit shock kept calendar-year returns muted. | ₹3,90,51,032 | ₹17,96,347 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹4,03,47,379 |
| 17 | 2019 | 12,168.45 | +12.0% | +13.5% | Markets climbed on liquidity and large-cap leadership despite a slowing economy. | ₹4,03,47,379 | ₹54,46,896 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹4,52,94,276 |
| 18 | 2020 | 13,981.75 | +14.9% | +16.1% | COVID caused a historic crash followed by a powerful recovery; the positive annual return hides severe intra-year volatility. | ₹4,52,94,276 | ₹72,92,378 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹5,20,86,654 |
| 19 | 2021 | 17,354.05 | +24.1% | +25.6% | Vaccine rollout and a liquidity-fuelled rally extended the post-COVID bull market. | ₹5,20,86,654 | ₹1,33,34,183 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹6,49,20,837 |
| 20 | 2022 | 18,105.30 | +4.3% | +5.7% | The Ukraine war, inflation and aggressive rate hikes produced a choppy, modestly positive year. | ₹6,49,20,837 | ₹37,00,488 | ₹5,00,000 | ₹5,00,000 | Fixed SWP | ₹6,81,21,325 |
Market journey timeline
1 January 2003 → 31 December 2022. Each marker is one 31 December close. The arrows are the sequence an SWP investor actually lived through — not a smoothed average.
- ▲
200331 Dec
TRI +76.6%
🔥 Extraordinary Bull Run
Extraordinary bull run
Economic recovery, improving sentiment and strong market momentum triggered an extraordinary bull run.
Withdrew ₹5,00,000 · closed at ₹83,30,500
- ▲
200431 Dec
TRI +13.0%
▶ Positive Year
Election shock, then recovery
A sharp May election shock was followed by a recovery as the new government provided policy continuity.
Withdrew ₹5,00,000 · closed at ₹89,13,465
- ▲
200531 Dec
TRI +39.3%
📈 Strong Advance
Earnings-led bull market
Strong corporate earnings and capital inflows powered a broad-based bull market.
Withdrew ₹5,00,000 · closed at ₹1,19,16,457
- ▲
200631 Dec
TRI +41.9%
🔥 Major Bull Market
Liquidity boom
A May global rate-hike sell-off was absorbed; growth and liquidity still delivered a powerful year.
Withdrew ₹5,00,000 · closed at ₹1,64,09,452
- ▲
200731 Dec
TRI +56.8%
🔥 Major Bull Market
Major bull market
Strong liquidity and optimism pushed markets sharply higher into a cycle peak.
Withdrew ₹5,00,000 · closed at ₹2,52,30,021
- ▼
200831 Dec
TRI −51.3%
💥 Global Financial Crisis
Global financial crisis
The global financial crisis caused one of the worst market crashes in modern history.
Withdrew ₹5,00,000 · closed at ₹1,17,87,020
- ▲
200931 Dec
TRI +77.6%
🚀 Historic Recovery
Historic recovery
Massive global stimulus and improving confidence produced a spectacular recovery.
Withdrew ₹5,00,000 · closed at ₹2,04,33,748
- ▲
201031 Dec
TRI +19.2%
▶ Positive Year
Recovery continues
The post-crisis rebound continued, though European debt worries capped the pace of gains.
Withdrew ₹5,00,000 · closed at ₹2,38,57,027
- ▼
201131 Dec
TRI −23.8%
📉 Deep Correction
Euro-debt correction
European sovereign-debt stress and domestic policy uncertainty produced a deep correction.
Withdrew ₹5,00,000 · closed at ₹1,76,79,055
- ▲
201231 Dec
TRI +29.4%
▶ Positive Year
Policy-hope rebound
Policy-reform hopes and global liquidity helped Indian equities rebound strongly.
Withdrew ₹5,00,000 · closed at ₹2,23,76,697
- ▲
201331 Dec
TRI +8.1%
▶ Positive Year
Taper tantrum year
The US taper tantrum and rupee stress created sharp intra-year swings, yet the year closed positive.
Withdrew ₹5,00,000 · closed at ₹2,36,89,210
- ▲
201431 Dec
TRI +32.9%
📈 Election Bull Market
Election bull market
A decisive general-election result and reform optimism drove a strong bull market.
Withdrew ₹5,00,000 · closed at ₹3,09,82,959
- ▼
201531 Dec
TRI −3.0%
📉 Negative Year
Yuan devaluation sell-off
Global risk-off after the yuan devaluation left the calendar year modestly negative.
Withdrew ₹5,00,000 · closed at ₹2,95,53,471
- ▲
201631 Dec
TRI +4.4%
〰️ Muted Year
Demonetisation year
Demonetisation and a muted earnings cycle produced a low-single-digit year.
Withdrew ₹5,00,000 · closed at ₹3,03,53,823
- ▲
201731 Dec
TRI +30.3%
📈 Strong Advance
Synchronised bull market
Synchronised global growth and domestic inflows fuelled a strong advance.
Withdrew ₹5,00,000 · closed at ₹3,90,51,032
- ▲
201831 Dec
TRI +4.6%
〰️ Muted Year
Credit-shock year
Trade-war fears and the IL&FS credit shock kept calendar-year returns muted.
Withdrew ₹5,00,000 · closed at ₹4,03,47,379
- ▲
201931 Dec
TRI +13.5%
▶ Positive Year
Liquidity-led grind higher
Markets climbed on liquidity and large-cap leadership despite a slowing economy.
Withdrew ₹5,00,000 · closed at ₹4,52,94,276
- ▲
202031 Dec
TRI +16.1%
⚠️ COVID Crash & Rebound
COVID crash and rebound
COVID caused a historic crash followed by a powerful recovery; the positive annual return hides severe intra-year volatility.
Withdrew ₹5,00,000 · closed at ₹5,20,86,654
- ▲
202131 Dec
TRI +25.6%
▶ Positive Year
Liquidity-fuelled rally
Vaccine rollout and a liquidity-fuelled rally extended the post-COVID bull market.
Withdrew ₹5,00,000 · closed at ₹6,49,20,837
- ▲
202231 Dec
TRI +5.7%
〰️ Muted Year
Inflation and rate-hike year
The Ukraine war, inflation and aggressive rate hikes produced a choppy, modestly positive year.
Withdrew ₹5,00,000 · closed at ₹6,81,21,325
Same market, different withdrawal rule
All three strategies are run on your exact inputs and the same historical sequence. The highlighted row is the rule you selected.
| Strategy | Total withdrawn | Final corpus | Lowest corpus | Corpus survived |
|---|---|---|---|---|
| Fixed SWPSelected | ₹1,00,00,000 | ₹6,81,21,325 | ₹50,00,000 | Yes — full period |
| Pause in negative years | ₹85,00,000 | ₹7,52,30,844 | ₹50,00,000 | Yes — full period |
| Reduce in negative years | ₹92,50,000 | ₹7,16,76,084 | ₹50,00,000 | Yes — full period |
The difference between strategies is not only the amount remaining in the portfolio. Flexible strategies may also reduce income received during adverse periods. In some historical windows a pause or reduce rule leaves a larger corpus; in others the income given up is the more important result. Neither path is automatically superior.
Historical SWP capacity
Approximate maximum annual planned withdrawal that still lets the corpus survive this specific historical sequence.
The story of this path
Investment → cycle → outcome
You began this historical journey in 2003 with ₹50 lakh. The portfolio then lived through the extraordinary bull run of 2003 (+76.6%) and, over the full window to 2022, faced 3 negative-return years — including 2008, when the market returned −51.3%. The strongest calendar year was 2009 (+77.6%). Withdrawals continued at the planned amount regardless of that year’s market return. After 20 years the simulated corpus was ₹6.81 crore, and ₹1 crore had been withdrawn in total. This simulation is a reminder that the sequence of market returns can matter as much as the long-term average when money is regularly withdrawn.
Illustration only · 1 January 2003 – 31 December 2022 · 20 years · starting corpus ₹50,00,000