Can I retire at age 65 with 950,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$78,450$77,751$77,070$76,404$75,754$73,506
2 years$38,837$38,113$37,412$36,733$36,073$33,827
3 years$25,634$24,908$24,208$23,535$22,887$20,712
4 years$19,034$18,310$17,617$16,956$16,323$14,237
5 years$15,075$14,355$13,672$13,024$12,408$10,417
6 years$12,436$11,722$11,049$10,415$9,818$7,924
7 years$10,552$9,844$9,182$8,563$7,985$6,187
8 years$9,140$8,438$7,787$7,183$6,624$4,921
9 years$8,042$7,347$6,707$6,118$5,579$3,969
10 years$7,165$6,476$5,847$5,274$4,753$3,235
11 years$6,447$5,765$5,148$4,590$4,088$2,658
12 years$5,849$5,175$4,568$4,026$3,543$2,198
13 years$5,344$4,676$4,082$3,554$3,089$1,827
14 years$4,911$4,251$3,667$3,155$2,708$1,525
15 years$4,536$3,883$3,311$2,814$2,384$1,278
16 years$4,209$3,563$3,002$2,520$2,107$1,073
17 years$3,920$3,281$2,732$2,264$1,868$904
18 years$3,664$3,032$2,494$2,040$1,661$763
19 years$3,435$2,810$2,283$1,843$1,481$644
20 years$3,229$2,611$2,095$1,670$1,323$545
21 years$3,043$2,432$1,927$1,515$1,184$462
22 years$2,874$2,270$1,776$1,378$1,061$392
23 years$2,720$2,123$1,640$1,255$952$332
24 years$2,579$1,989$1,517$1,144$856$282
25 years$2,449$1,867$1,405$1,045$770$240
26 years$2,330$1,755$1,303$956$694$204
27 years$2,220$1,651$1,210$875$626$173
28 years$2,117$1,556$1,125$801$564$148
29 years$2,022$1,468$1,047$735$510$126
30 years$1,934$1,386$975$674$461$107
31 years$1,851$1,311$909$619$416$91
32 years$1,774$1,240$848$569$377$78
33 years$1,701$1,174$792$523$341$66
34 years$1,633$1,113$740$482$309$56
35 years$1,569$1,056$692$443$280$48
36 years$1,509$1,002$647$408$253$41
37 years$1,452$952$606$376$230$35
38 years$1,398$904$567$347$208$30
39 years$1,347$860$531$320$189$25
40 years$1,299$818$498$295$171$22
41 years$1,253$779$467$272$155$18
42 years$1,209$742$438$251$141$16
43 years$1,168$707$411$232$128$13
44 years$1,129$674$386$214$116$11
45 years$1,091$642$362$198$105$10
46 years$1,055$613$340$183$96$8
47 years$1,021$585$320$169$87$7
48 years$989$558$300$156$79$6
49 years$957$533$282$144$72$5
50 years$928$509$265$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $950,000, adding $3,290 every year, while hoping to spend $59,624 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: 62/26/12 Blend
64$950,000$950,000$950,000$950,000
65$1,050,294$999,944$985,219$1,112,243
66$1,093,984$985,501$954,784$1,139,727
67$1,140,133$968,353$921,331$1,162,591
68$1,188,927$948,303$884,697$1,186,083
69$1,240,572$925,145$844,709$1,210,263
70$1,295,292$898,658$801,188$1,235,204
71$1,353,331$868,612$753,947$1,260,986
72$1,414,957$834,760$702,790$1,287,700
73$1,480,461$796,841$647,512$1,315,451
74$1,550,163$754,582$587,899$1,344,354
75$1,624,415$707,691$523,729$1,374,543
76$1,703,598$655,861$454,766$1,406,167
77$1,788,133$598,766$380,769$1,439,393
78$1,878,479$536,063$301,482$1,474,411
79$1,975,142$467,388$216,639$1,511,434
80$2,078,674$392,357$125,964$1,550,701
81$2,189,681$310,564$29,166$1,592,479
82$2,308,828$221,582$0$1,637,069
83$2,436,846$124,958$0$1,694,300
84$2,574,537$20,213$0$1,759,659
85$2,722,779$0$0$1,829,870
86$2,882,540$0$0$1,932,101
87$3,054,881$0$0$2,048,674
88$3,240,968$0$0$2,174,602
89$3,442,081$0$0$2,310,758
90$3,659,631$0$0$2,458,105
91$3,895,163$0$0$2,617,698
92$4,150,381$0$0$2,790,698
93$4,427,156$0$0$2,978,384
94$4,727,544$0$0$3,182,159
95$5,053,810$0$0$3,403,569
96$5,408,443$0$0$3,644,312
97$5,794,182$0$0$3,906,259
98$6,214,039$0$0$4,191,467
99$6,671,330$0$0$4,502,199
100$7,169,705$0$0$4,840,947