Can I retire at age 65 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$79,441$78,733$78,043$77,369$76,711$75,659
2 years$39,327$38,595$37,885$37,197$36,529$35,471
3 years$25,958$25,222$24,514$23,832$23,176$22,144
4 years$19,274$18,541$17,840$17,170$16,529$15,532
5 years$15,265$14,536$13,845$13,188$12,565$11,606
6 years$12,593$11,870$11,188$10,547$9,942$9,022
7 years$10,686$9,968$9,298$8,671$8,086$7,205
8 years$9,256$8,545$7,885$7,274$6,708$5,866
9 years$8,144$7,440$6,791$6,196$5,649$4,846
10 years$7,255$6,558$5,921$5,341$4,813$4,048
11 years$6,528$5,838$5,213$4,648$4,140$3,412
12 years$5,923$5,240$4,626$4,077$3,587$2,896
13 years$5,411$4,735$4,133$3,599$3,128$2,473
14 years$4,973$4,304$3,714$3,195$2,742$2,121
15 years$4,594$3,932$3,353$2,849$2,414$1,827
16 years$4,262$3,608$3,040$2,551$2,134$1,579
17 years$3,970$3,322$2,766$2,292$1,892$1,368
18 years$3,710$3,070$2,525$2,066$1,682$1,189
19 years$3,478$2,845$2,312$1,867$1,499$1,035
20 years$3,270$2,644$2,122$1,691$1,339$902
21 years$3,081$2,463$1,951$1,534$1,199$788
22 years$2,910$2,299$1,799$1,395$1,074$689
23 years$2,754$2,150$1,661$1,271$964$604
24 years$2,611$2,015$1,536$1,159$867$529
25 years$2,480$1,891$1,422$1,058$780$464
26 years$2,359$1,777$1,319$968$703$407
27 years$2,248$1,672$1,225$886$633$358
28 years$2,144$1,576$1,139$812$572$315
29 years$2,048$1,486$1,060$744$516$277
30 years$1,958$1,404$987$683$466$243
31 years$1,875$1,327$920$627$422$214
32 years$1,796$1,256$859$576$381$189
33 years$1,723$1,189$802$530$345$166
34 years$1,654$1,127$749$488$312$146
35 years$1,589$1,069$700$449$283$129
36 years$1,528$1,015$655$414$256$114
37 years$1,470$964$613$381$232$100
38 years$1,416$916$574$351$211$88
39 years$1,364$871$538$324$191$78
40 years$1,315$829$504$299$173$69
41 years$1,269$789$473$276$157$61
42 years$1,225$751$444$254$143$53
43 years$1,183$716$416$235$129$47
44 years$1,143$682$391$217$118$42
45 years$1,105$651$367$200$107$37
46 years$1,069$621$345$185$97$32
47 years$1,034$592$324$171$88$29
48 years$1,001$565$304$158$80$25
49 years$969$540$286$146$73$22
50 years$939$516$269$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $962,000, adding $2,738 every year, while hoping to spend $27,918 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: 85/8/7 Blend
64$962,000$962,000$962,000$962,000
65$1,062,948$1,011,962$997,051$1,152,457
66$1,141,664$1,031,844$1,000,748$1,231,150
67$1,227,474$1,051,764$1,003,633$1,313,495
68$1,321,071$1,071,695$1,005,649$1,403,076
69$1,423,219$1,091,607$1,006,737$1,500,600
70$1,534,760$1,111,468$1,006,835$1,606,849
71$1,656,618$1,131,243$1,005,877$1,722,683
72$1,789,813$1,150,894$1,003,794$1,849,047
73$1,935,467$1,170,381$1,000,514$1,986,984
74$2,094,815$1,189,660$995,962$2,137,642
75$2,269,218$1,208,685$990,058$2,302,286
76$2,460,173$1,227,405$982,719$2,482,308
77$2,669,329$1,245,766$973,859$2,679,243
78$2,898,503$1,263,711$963,386$2,894,781
79$3,149,695$1,281,177$951,204$3,130,783
80$3,425,108$1,298,099$937,214$3,389,301
81$3,727,169$1,314,406$921,310$3,672,594
82$4,058,550$1,330,022$903,384$3,983,150
83$4,422,195$1,344,866$883,321$4,323,714
84$4,821,347$1,358,853$861,000$4,697,306
85$5,259,577$1,371,889$836,296$5,107,255
86$5,740,820$1,383,878$809,078$5,557,229
87$6,269,410$1,394,714$779,208$6,051,269
88$6,850,121$1,404,286$746,543$6,593,828
89$7,488,213$1,412,476$710,932$7,189,812
90$8,189,482$1,419,158$672,219$7,844,628
91$8,960,310$1,424,198$630,239$8,564,231
92$9,807,730$1,427,453$584,821$9,355,187
93$10,739,492$1,428,771$535,786$10,224,726
94$11,764,132$1,427,993$482,947$11,180,819
95$12,891,056$1,424,946$426,107$12,232,248
96$14,130,625$1,419,451$365,064$13,388,689
97$15,494,258$1,411,313$299,603$14,660,806
98$16,994,535$1,400,329$229,501$16,060,350
99$18,645,315$1,386,283$154,527$17,600,267
100$20,461,871$1,368,945$74,438$19,294,828