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%11.1%
1 years$77,624$76,933$76,258$75,600$74,957$74,610
2 years$38,428$37,712$37,019$36,346$35,694$35,343
3 years$25,364$24,645$23,953$23,287$22,646$22,303
4 years$18,834$18,117$17,432$16,777$16,151$15,818
5 years$14,916$14,204$13,528$12,886$12,278$11,956
6 years$12,305$11,599$10,933$10,305$9,715$9,405
7 years$10,441$9,740$9,085$8,473$7,901$7,603
8 years$9,044$8,349$7,705$7,108$6,555$6,268
9 years$7,958$7,270$6,636$6,054$5,520$5,245
10 years$7,089$6,408$5,786$5,219$4,703$4,440
11 years$6,379$5,704$5,094$4,542$4,045$3,793
12 years$5,788$5,120$4,520$3,984$3,505$3,265
13 years$5,288$4,627$4,039$3,517$3,057$2,827
14 years$4,859$4,206$3,629$3,122$2,679$2,461
15 years$4,489$3,842$3,276$2,784$2,359$2,151
16 years$4,165$3,525$2,970$2,493$2,085$1,887
17 years$3,879$3,246$2,703$2,240$1,849$1,661
18 years$3,625$3,000$2,467$2,019$1,644$1,466
19 years$3,399$2,780$2,259$1,824$1,465$1,296
20 years$3,195$2,584$2,073$1,652$1,309$1,149
21 years$3,011$2,406$1,907$1,499$1,171$1,020
22 years$2,843$2,246$1,757$1,363$1,050$907
23 years$2,691$2,101$1,623$1,242$942$807
24 years$2,552$1,968$1,501$1,132$847$720
25 years$2,423$1,847$1,390$1,034$762$642
26 years$2,305$1,736$1,289$946$687$574
27 years$2,196$1,634$1,197$865$619$513
28 years$2,095$1,540$1,113$793$559$459
29 years$2,001$1,452$1,036$727$504$411
30 years$1,913$1,372$965$667$456$368
31 years$1,832$1,297$899$613$412$330
32 years$1,755$1,227$839$563$373$295
33 years$1,683$1,162$783$518$337$265
34 years$1,616$1,101$732$477$305$238
35 years$1,553$1,045$684$439$277$213
36 years$1,493$991$640$404$251$192
37 years$1,437$942$599$372$227$172
38 years$1,383$895$561$343$206$155
39 years$1,333$851$526$316$187$139
40 years$1,285$810$493$292$169$125
41 years$1,240$771$462$269$154$112
42 years$1,197$734$433$248$139$101
43 years$1,156$699$407$229$127$91
44 years$1,117$667$382$212$115$81
45 years$1,080$636$358$196$104$73
46 years$1,044$606$337$181$95$66
47 years$1,011$579$316$167$86$59
48 years$978$552$297$154$78$53
49 years$947$528$279$143$71$48
50 years$918$504$263$132$64$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $940,000, adding $3,840 every year, while hoping to spend $39,882 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: 63/21/16 Blend
64$940,000$940,000$940,000$940,000
65$1,039,841$990,021$975,451$1,100,996
66$1,103,471$996,098$965,694$1,148,604
67$1,172,254$1,001,136$954,274$1,195,686
68$1,246,674$1,005,042$941,093$1,246,144
69$1,327,263$1,007,717$926,048$1,300,308
70$1,414,605$1,009,056$909,032$1,358,545
71$1,509,343$1,008,948$889,932$1,421,256
72$1,612,183$1,007,274$868,632$1,488,888
73$1,723,902$1,003,907$845,008$1,561,931
74$1,845,357$998,715$818,932$1,640,929
75$1,977,486$991,555$790,269$1,726,481
76$2,121,326$982,277$758,880$1,819,250
77$2,278,015$970,722$724,615$1,919,967
78$2,448,805$956,721$687,323$2,029,439
79$2,635,077$940,094$646,843$2,148,559
80$2,838,349$920,652$603,005$2,278,310
81$3,060,290$898,194$555,636$2,419,780
82$3,302,741$872,507$504,551$2,574,168
83$3,567,727$843,366$449,560$2,742,800
84$3,857,477$810,532$390,461$2,927,137
85$4,174,445$773,754$327,047$3,128,793
86$4,521,334$732,764$259,099$3,349,552
87$4,901,120$687,279$186,389$3,591,378
88$5,317,081$637,003$108,680$3,856,442
89$5,772,825$581,618$25,723$4,147,140
90$6,272,328$520,791$0$4,466,114
91$6,819,965$454,171$0$4,827,005
92$7,420,560$381,383$0$5,227,691
93$8,079,421$302,035$0$5,667,377
94$8,802,398$215,711$0$6,150,031
95$9,595,934$121,971$0$6,680,029
96$10,467,124$20,353$0$7,262,195
97$11,423,786$0$0$7,901,848
98$12,474,532$0$0$8,625,567
99$13,628,848$0$0$9,425,860
100$14,897,184$0$0$10,305,278