Can I retire at age 65 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$80,102$79,388$78,692$78,013$77,349$75,357
2 years$39,654$38,916$38,200$37,506$36,833$34,839
3 years$26,174$25,432$24,718$24,030$23,368$21,435
4 years$19,435$18,695$17,988$17,313$16,666$14,809
5 years$15,392$14,657$13,960$13,298$12,670$10,893
6 years$12,698$11,969$11,282$10,634$10,025$8,331
7 years$10,775$10,051$9,375$8,743$8,153$6,541
8 years$9,333$8,616$7,951$7,334$6,764$5,234
9 years$8,212$7,502$6,848$6,247$5,696$4,247
10 years$7,315$6,612$5,970$5,385$4,853$3,483
11 years$6,583$5,887$5,256$4,687$4,174$2,880
12 years$5,972$5,283$4,665$4,111$3,617$2,398
13 years$5,456$4,775$4,168$3,629$3,154$2,007
14 years$5,015$4,340$3,745$3,222$2,765$1,687
15 years$4,632$3,965$3,381$2,873$2,434$1,423
16 years$4,297$3,638$3,065$2,573$2,152$1,204
17 years$4,003$3,350$2,789$2,311$1,908$1,021
18 years$3,741$3,096$2,546$2,083$1,696$868
19 years$3,507$2,869$2,331$1,882$1,512$739
20 years$3,297$2,666$2,139$1,705$1,350$630
21 years$3,107$2,483$1,968$1,547$1,209$538
22 years$2,934$2,318$1,814$1,407$1,083$460
23 years$2,777$2,168$1,674$1,281$972$393
24 years$2,633$2,031$1,549$1,168$874$337
25 years$2,501$1,906$1,434$1,067$786$288
26 years$2,379$1,792$1,330$976$708$247
27 years$2,266$1,686$1,235$893$639$212
28 years$2,162$1,589$1,148$818$576$182
29 years$2,065$1,499$1,069$750$520$156
30 years$1,975$1,415$995$689$470$134
31 years$1,890$1,338$928$632$425$115
32 years$1,811$1,266$866$581$385$99
33 years$1,737$1,199$808$535$348$85
34 years$1,668$1,136$755$492$315$73
35 years$1,602$1,078$706$453$285$63
36 years$1,541$1,023$661$417$259$54
37 years$1,482$972$618$384$234$46
38 years$1,427$923$579$354$212$40
39 years$1,375$878$542$326$193$34
40 years$1,326$835$508$301$175$29
41 years$1,279$795$477$278$159$25
42 years$1,235$757$447$256$144$22
43 years$1,193$722$420$237$131$19
44 years$1,152$688$394$219$119$16
45 years$1,114$656$370$202$108$14
46 years$1,078$626$347$186$98$12
47 years$1,043$597$326$172$89$10
48 years$1,009$570$307$159$81$9
49 years$978$544$288$147$73$8
50 years$947$520$271$136$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $970,000, adding $5,970 every year, while hoping to spend $56,282 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: 64/26/10 Blend
64$970,000$970,000$970,000$970,000
65$1,075,098$1,023,688$1,008,653$1,141,189
66$1,124,874$1,013,965$982,559$1,176,321
67$1,177,842$1,001,880$953,705$1,207,552
68$1,234,266$987,256$921,939$1,240,234
69$1,294,438$969,909$887,101$1,274,504
70$1,358,678$949,641$849,026$1,310,517
71$1,427,335$926,245$807,539$1,348,444
72$1,500,791$899,500$762,461$1,388,477
73$1,579,469$869,172$713,600$1,430,830
74$1,663,828$835,014$660,758$1,475,740
75$1,754,373$796,765$603,729$1,523,471
76$1,851,661$754,149$542,296$1,574,317
77$1,956,300$706,871$476,232$1,628,604
78$2,068,959$654,624$405,302$1,686,695
79$2,190,372$597,080$329,259$1,748,995
80$2,321,346$533,894$247,846$1,815,950
81$2,462,768$464,699$160,793$1,888,060
82$2,615,611$389,110$67,820$1,965,877
83$2,780,946$306,718$0$2,050,014
84$2,959,948$217,094$0$2,144,502
85$3,153,913$119,781$0$2,254,688
86$3,364,261$14,300$0$2,374,199
87$3,592,558$0$0$2,504,000
88$3,840,523$0$0$2,673,727
89$4,110,048$0$0$2,862,717
90$4,403,215$0$0$3,068,348
91$4,722,314$0$0$3,292,232
92$5,069,866$0$0$3,536,146
93$5,448,643$0$0$3,802,044
94$5,861,697$0$0$4,092,079
95$6,312,387$0$0$4,408,617
96$6,804,411$0$0$4,754,265
97$7,341,839$0$0$5,131,892
98$7,929,150$0$0$5,544,657
99$8,571,278$0$0$5,996,038
100$9,273,654$0$0$6,489,862