Can I retire at age 45 with 988,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$81,588$80,861$80,152$79,460$78,785$76,416
2 years$40,390$39,638$38,909$38,202$37,516$35,150
3 years$26,659$25,904$25,177$24,476$23,802$21,512
4 years$19,795$19,042$18,322$17,634$16,976$14,780
5 years$15,678$14,929$14,219$13,545$12,905$10,808
6 years$12,934$12,191$11,491$10,832$10,211$8,217
7 years$10,975$10,238$9,549$8,905$8,304$6,412
8 years$9,506$8,776$8,098$7,470$6,889$5,097
9 years$8,364$7,641$6,975$6,363$5,802$4,108
10 years$7,451$6,735$6,081$5,485$4,943$3,346
11 years$6,705$5,996$5,354$4,774$4,251$2,748
12 years$6,083$5,382$4,751$4,187$3,684$2,271
13 years$5,558$4,863$4,245$3,697$3,213$1,887
14 years$5,108$4,421$3,814$3,281$2,816$1,574
15 years$4,718$4,038$3,444$2,926$2,480$1,317
16 years$4,377$3,705$3,122$2,620$2,192$1,106
17 years$4,077$3,412$2,841$2,354$1,943$931
18 years$3,810$3,153$2,593$2,122$1,728$785
19 years$3,572$2,922$2,374$1,917$1,540$662
20 years$3,358$2,715$2,179$1,736$1,376$560
21 years$3,164$2,529$2,004$1,576$1,231$474
22 years$2,989$2,361$1,847$1,433$1,103$402
23 years$2,829$2,208$1,706$1,305$990$341
24 years$2,682$2,069$1,577$1,190$890$289
25 years$2,547$1,942$1,461$1,087$801$245
26 years$2,423$1,825$1,355$994$722$209
27 years$2,308$1,717$1,258$910$651$177
28 years$2,202$1,618$1,170$833$587$151
29 years$2,103$1,527$1,088$764$530$128
30 years$2,011$1,442$1,014$701$479$109
31 years$1,925$1,363$945$644$433$93
32 years$1,845$1,290$882$592$392$79
33 years$1,769$1,221$823$544$354$67
34 years$1,699$1,158$769$501$321$57
35 years$1,632$1,098$719$461$291$49
36 years$1,569$1,042$673$425$263$41
37 years$1,510$990$630$391$239$35
38 years$1,454$941$590$361$216$30
39 years$1,401$894$553$333$196$26
40 years$1,351$851$518$307$178$22
41 years$1,303$810$486$283$161$19
42 years$1,258$771$456$261$147$16
43 years$1,215$735$427$241$133$13
44 years$1,174$701$401$223$121$11
45 years$1,135$668$377$206$110$10
46 years$1,098$637$354$190$100$8
47 years$1,062$608$332$175$90$7
48 years$1,028$581$312$162$82$6
49 years$996$554$294$150$75$5
50 years$965$530$276$138$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 45 starting with $988,000, adding $6,934 every year, while hoping to spend $48,106 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 36/35/29 Blend
44$988,000$988,000$988,000$988,000
45$1,095,928$1,043,564$1,028,250$1,125,649
46$1,156,529$1,043,515$1,011,512$1,148,364
47$1,221,698$1,041,850$992,601$1,168,042
48$1,291,851$1,038,441$971,394$1,188,371
49$1,367,445$1,033,149$947,760$1,209,443
50$1,448,979$1,025,829$921,565$1,231,363
51$1,537,005$1,016,324$892,668$1,254,251
52$1,632,127$1,004,471$860,919$1,278,240
53$1,735,009$990,096$826,165$1,303,484
54$1,846,382$973,012$788,243$1,330,157
55$1,967,048$953,025$746,985$1,358,456
56$2,097,891$929,928$702,213$1,388,600
57$2,239,881$903,499$653,743$1,420,840
58$2,394,087$873,509$601,381$1,455,456
59$2,561,682$839,709$544,925$1,492,763
60$2,743,959$801,840$484,166$1,533,115
61$2,942,340$759,627$418,882$1,576,910
62$3,158,388$712,778$348,844$1,624,591
63$3,393,824$660,985$273,811$1,676,658
64$3,650,543$603,922$193,533$1,733,666
65$3,930,630$541,246$107,748$1,796,239
66$4,236,380$472,592$16,182$1,865,071
67$4,570,318$397,576$0$1,940,938
68$4,935,225$315,792$0$2,049,934
69$5,334,162$226,811$0$2,174,778
70$5,770,502$130,179$0$2,311,627
71$6,247,953$25,418$0$2,461,777
72$6,770,604$0$0$2,626,663
73$7,342,954$0$0$2,841,758
74$7,969,959$0$0$3,088,256
75$8,657,076$0$0$3,358,531
76$9,410,315$0$0$3,654,965
77$10,236,297$0$0$3,980,183
78$11,142,313$0$0$4,337,073
79$12,136,392$0$0$4,728,820
80$13,227,380$0$0$5,158,930
81$14,425,021$0$0$5,631,266
82$15,740,048$0$0$6,150,084
83$17,184,283$0$0$6,720,070
84$18,770,750$0$0$7,346,389
85$20,513,798$0$0$8,034,730
86$22,429,233$0$0$8,791,361
87$24,534,467$0$0$9,623,186
88$26,848,684$0$0$10,537,814
89$29,393,021$0$0$11,543,625
90$32,190,762$0$0$12,649,853
91$35,267,561$0$0$13,866,674
92$38,651,684$0$0$15,205,296
93$42,374,273$0$0$16,678,070
94$46,469,639$0$0$18,298,606
95$50,975,589$0$0$20,081,896
96$55,933,775$0$0$22,044,462
97$61,390,095$0$0$24,204,507
98$67,395,119$0$0$26,582,090
99$74,004,567$0$0$29,199,310
100$81,279,835$0$0$32,080,522