Can I retire at age 65 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$79,937$79,225$78,530$77,852$77,190$75,600
2 years$39,573$38,836$38,121$37,429$36,757$35,163
3 years$26,120$25,379$24,667$23,981$23,320$21,771
4 years$19,395$18,657$17,951$17,277$16,632$15,140
5 years$15,360$14,627$13,931$13,270$12,643$11,213
6 years$12,672$11,944$11,258$10,612$10,004$8,636
7 years$10,752$10,031$9,356$8,725$8,136$6,831
8 years$9,313$8,598$7,934$7,319$6,750$5,507
9 years$8,195$7,486$6,834$6,234$5,684$4,504
10 years$7,300$6,599$5,958$5,374$4,843$3,723
11 years$6,569$5,874$5,245$4,677$4,165$3,105
12 years$5,960$5,273$4,655$4,102$3,610$2,607
13 years$5,445$4,765$4,159$3,622$3,148$2,201
14 years$5,004$4,331$3,737$3,215$2,759$1,866
15 years$4,622$3,957$3,374$2,867$2,429$1,589
16 years$4,289$3,630$3,059$2,567$2,147$1,357
17 years$3,994$3,343$2,783$2,307$1,904$1,162
18 years$3,733$3,089$2,541$2,079$1,693$997
19 years$3,500$2,863$2,326$1,878$1,509$857
20 years$3,290$2,660$2,135$1,701$1,348$738
21 years$3,100$2,478$1,964$1,544$1,206$636
22 years$2,928$2,313$1,810$1,404$1,081$549
23 years$2,771$2,164$1,671$1,278$970$475
24 years$2,628$2,027$1,545$1,166$872$410
25 years$2,496$1,902$1,431$1,065$785$355
26 years$2,374$1,788$1,327$974$707$308
27 years$2,262$1,683$1,233$891$637$267
28 years$2,157$1,586$1,146$817$575$231
29 years$2,061$1,496$1,066$749$519$200
30 years$1,970$1,413$993$687$469$174
31 years$1,886$1,335$926$631$424$151
32 years$1,807$1,264$864$580$384$131
33 years$1,734$1,197$807$533$347$114
34 years$1,664$1,134$754$491$314$99
35 years$1,599$1,076$705$452$285$86
36 years$1,537$1,021$659$416$258$75
37 years$1,479$970$617$383$234$65
38 years$1,425$922$578$353$212$56
39 years$1,373$876$541$326$192$49
40 years$1,323$834$507$301$174$42
41 years$1,277$794$476$277$158$37
42 years$1,232$756$446$256$144$32
43 years$1,190$720$419$236$130$28
44 years$1,150$686$393$218$118$24
45 years$1,112$655$369$201$107$21
46 years$1,075$624$347$186$97$18
47 years$1,041$596$326$172$89$16
48 years$1,007$569$306$159$80$14
49 years$976$543$288$147$73$12
50 years$945$519$270$136$66$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $968,000, adding $4,851 every year, while hoping to spend $41,907 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: 76/8/16 Blend
64$968,000$968,000$968,000$968,000
65$1,071,740$1,020,436$1,005,432$1,149,062
66$1,136,469$1,025,848$994,525$1,206,229
67$1,206,395$1,030,122$981,848$1,263,178
68$1,282,005$1,033,156$967,298$1,324,478
69$1,363,833$1,034,844$950,766$1,390,548
70$1,452,466$1,035,073$932,139$1,461,853
71$1,548,550$1,033,724$911,298$1,538,903
72$1,652,794$1,030,668$888,118$1,622,263
73$1,765,979$1,025,771$862,470$1,712,552
74$1,888,964$1,018,888$834,217$1,810,456
75$2,022,693$1,009,869$803,219$1,916,730
76$2,168,205$998,550$769,324$2,032,207
77$2,326,645$984,762$732,380$2,157,803
78$2,499,270$968,323$692,222$2,294,532
79$2,687,465$949,040$648,680$2,443,507
80$2,892,754$926,710$601,579$2,605,961
81$3,116,814$901,118$550,731$2,783,248
82$3,361,492$872,036$495,943$2,976,864
83$3,628,820$839,221$437,012$3,188,458
84$3,921,035$802,419$373,728$3,419,848
85$4,240,602$761,359$305,870$3,673,038
86$4,590,233$715,755$233,206$3,950,238
87$4,972,915$665,305$155,496$4,253,884
88$5,391,936$609,689$72,489$4,586,663
89$5,850,918$548,568$0$4,951,537
90$6,353,851$481,587$0$5,354,518
91$6,905,125$408,367$0$5,809,845
92$7,509,580$328,509$0$6,309,147
93$8,172,544$241,592$0$6,856,851
94$8,899,885$147,172$0$7,457,835
95$9,698,068$44,778$0$8,117,473
96$10,574,213$0$0$8,841,687
97$11,536,163$0$0$9,642,819
98$12,592,558$0$0$10,526,974
99$13,752,917$0$0$11,498,182
100$15,027,724$0$0$12,565,223