Can I retire at age 65 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$77,624$76,933$76,258$75,600$74,957$73,175
2 years$38,428$37,712$37,019$36,346$35,694$33,909
3 years$25,364$24,645$23,953$23,287$22,646$20,913
4 years$18,834$18,117$17,432$16,777$16,151$14,485
5 years$14,916$14,204$13,528$12,886$12,278$10,682
6 years$12,305$11,599$10,933$10,305$9,715$8,192
7 years$10,441$9,740$9,085$8,473$7,901$6,451
8 years$9,044$8,349$7,705$7,108$6,555$5,177
9 years$7,958$7,270$6,636$6,054$5,520$4,213
10 years$7,089$6,408$5,786$5,219$4,703$3,466
11 years$6,379$5,704$5,094$4,542$4,045$2,875
12 years$5,788$5,120$4,520$3,984$3,505$2,401
13 years$5,288$4,627$4,039$3,517$3,057$2,017
14 years$4,859$4,206$3,629$3,122$2,679$1,701
15 years$4,489$3,842$3,276$2,784$2,359$1,440
16 years$4,165$3,525$2,970$2,493$2,085$1,223
17 years$3,879$3,246$2,703$2,240$1,849$1,041
18 years$3,625$3,000$2,467$2,019$1,644$888
19 years$3,399$2,780$2,259$1,824$1,465$759
20 years$3,195$2,584$2,073$1,652$1,309$650
21 years$3,011$2,406$1,907$1,499$1,171$557
22 years$2,843$2,246$1,757$1,363$1,050$478
23 years$2,691$2,101$1,623$1,242$942$410
24 years$2,552$1,968$1,501$1,132$847$352
25 years$2,423$1,847$1,390$1,034$762$303
26 years$2,305$1,736$1,289$946$687$261
27 years$2,196$1,634$1,197$865$619$225
28 years$2,095$1,540$1,113$793$559$193
29 years$2,001$1,452$1,036$727$504$167
30 years$1,913$1,372$965$667$456$144
31 years$1,832$1,297$899$613$412$124
32 years$1,755$1,227$839$563$373$107
33 years$1,683$1,162$783$518$337$92
34 years$1,616$1,101$732$477$305$79
35 years$1,553$1,045$684$439$277$69
36 years$1,493$991$640$404$251$59
37 years$1,437$942$599$372$227$51
38 years$1,383$895$561$343$206$44
39 years$1,333$851$526$316$187$38
40 years$1,285$810$493$292$169$33
41 years$1,240$771$462$269$154$28
42 years$1,197$734$433$248$139$24
43 years$1,156$699$407$229$127$21
44 years$1,117$667$382$212$115$18
45 years$1,080$636$358$196$104$16
46 years$1,044$606$337$181$95$14
47 years$1,011$579$316$167$86$12
48 years$978$552$297$154$78$10
49 years$947$528$279$143$71$9
50 years$918$504$263$132$64$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $940,000, adding $2,014 every year, while hoping to spend $30,702 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: 52/23/25 Blend
64$940,000$940,000$940,000$940,000
65$1,037,957$988,137$973,567$1,084,594
66$1,111,162$1,003,889$973,515$1,132,855
67$1,190,805$1,019,384$972,432$1,182,027
68$1,277,510$1,034,577$970,252$1,234,892
69$1,371,964$1,049,419$966,903$1,291,813
70$1,474,923$1,063,860$962,313$1,353,193
71$1,587,219$1,077,843$956,404$1,419,475
72$1,709,768$1,091,309$949,096$1,491,148
73$1,843,577$1,104,196$940,304$1,568,754
74$1,989,756$1,116,436$929,938$1,652,888
75$2,149,527$1,127,957$917,906$1,744,210
76$2,324,234$1,138,682$904,111$1,843,446
77$2,515,358$1,148,529$888,451$1,951,399
78$2,724,529$1,157,412$870,819$2,068,955
79$2,953,542$1,165,236$851,103$2,197,092
80$3,204,375$1,171,905$829,187$2,336,887
81$3,479,205$1,177,311$804,948$2,489,533
82$3,780,428$1,181,344$778,258$2,656,342
83$4,110,687$1,183,885$748,984$2,838,765
84$4,472,888$1,184,806$716,986$3,038,403
85$4,870,235$1,183,974$682,118$3,257,020
86$5,306,257$1,181,247$644,227$3,496,564
87$5,784,840$1,176,473$603,153$3,759,186
88$6,310,264$1,169,491$558,730$4,047,256
89$6,887,246$1,160,131$510,782$4,363,391
90$7,520,981$1,148,212$459,129$4,710,477
91$8,217,190$1,133,544$403,578$5,091,699
92$8,982,178$1,115,922$343,933$5,510,567
93$9,822,890$1,095,132$279,985$5,970,958
94$10,746,977$1,070,947$211,517$6,477,144
95$11,762,869$1,043,123$138,303$7,033,840
96$12,879,853$1,011,408$60,107$7,646,244
97$14,108,160$975,528$0$8,320,091
98$15,459,063$935,200$0$9,067,933
99$16,944,982$890,119$0$9,908,031
100$18,579,601$839,966$0$10,832,102