Can I retire at age 65 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$80,184$79,470$78,773$78,093$77,429$74,771
2 years$39,695$38,956$38,239$37,545$36,871$34,220
3 years$26,201$25,458$24,743$24,055$23,392$20,832
4 years$19,455$18,714$18,007$17,330$16,684$14,233
5 years$15,408$14,672$13,974$13,311$12,683$10,349
6 years$12,711$11,981$11,293$10,645$10,035$7,820
7 years$10,786$10,062$9,385$8,752$8,161$6,064
8 years$9,342$8,625$7,959$7,342$6,771$4,789
9 years$8,220$7,509$6,855$6,254$5,702$3,834
10 years$7,323$6,619$5,976$5,391$4,858$3,102
11 years$6,589$5,893$5,261$4,692$4,178$2,529
12 years$5,979$5,289$4,669$4,115$3,621$2,075
13 years$5,462$4,780$4,172$3,633$3,157$1,711
14 years$5,020$4,345$3,748$3,225$2,768$1,416
15 years$4,637$3,969$3,384$2,876$2,437$1,176
16 years$4,302$3,641$3,068$2,575$2,154$980
17 years$4,007$3,354$2,792$2,314$1,910$818
18 years$3,745$3,099$2,549$2,085$1,698$684
19 years$3,511$2,872$2,333$1,884$1,513$573
20 years$3,300$2,669$2,141$1,707$1,352$480
21 years$3,110$2,486$1,970$1,549$1,210$403
22 years$2,937$2,320$1,815$1,408$1,084$339
23 years$2,780$2,170$1,676$1,282$973$285
24 years$2,636$2,033$1,550$1,170$875$239
25 years$2,503$1,908$1,436$1,068$787$201
26 years$2,381$1,793$1,332$977$709$170
27 years$2,269$1,688$1,237$894$639$143
28 years$2,164$1,590$1,150$819$577$120
29 years$2,067$1,500$1,070$751$521$101
30 years$1,977$1,417$996$689$471$86
31 years$1,892$1,339$929$633$426$72
32 years$1,813$1,267$867$582$385$61
33 years$1,739$1,200$809$535$348$51
34 years$1,669$1,138$756$492$315$43
35 years$1,604$1,079$707$453$286$36
36 years$1,542$1,024$661$417$259$31
37 years$1,484$973$619$385$235$26
38 years$1,429$924$580$354$213$22
39 years$1,377$879$543$327$193$18
40 years$1,328$836$509$301$175$16
41 years$1,281$796$477$278$159$13
42 years$1,236$758$448$257$144$11
43 years$1,194$722$420$237$131$9
44 years$1,154$689$394$219$119$8
45 years$1,115$657$370$202$108$7
46 years$1,079$626$348$187$98$6
47 years$1,044$598$327$172$89$5
48 years$1,010$571$307$159$81$4
49 years$979$545$289$147$73$3
50 years$948$521$271$136$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $971,000, adding $3,245 every year, while hoping to spend $33,267 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: 57/34/9 Blend
64$971,000$971,000$971,000$971,000
65$1,073,389$1,021,926$1,006,876$1,132,113
66$1,147,479$1,036,605$1,005,210$1,186,747
67$1,228,011$1,050,888$1,002,374$1,242,249
68$1,315,607$1,064,720$998,293$1,301,916
69$1,410,952$1,078,044$992,888$1,366,147
70$1,514,798$1,090,798$986,079$1,435,388
71$1,627,975$1,102,914$977,780$1,510,126
72$1,751,393$1,114,321$967,900$1,590,901
73$1,886,057$1,124,945$956,347$1,678,307
74$2,033,071$1,134,704$943,021$1,773,002
75$2,193,652$1,143,512$927,820$1,875,708
76$2,369,138$1,151,277$910,635$1,987,224
77$2,561,004$1,157,903$891,355$2,108,430
78$2,770,871$1,163,286$869,860$2,240,299
79$3,000,527$1,167,314$846,028$2,383,901
80$3,251,940$1,169,871$819,728$2,540,419
81$3,527,275$1,170,832$790,827$2,711,156
82$3,828,919$1,170,065$759,181$2,897,552
83$4,159,500$1,167,429$724,645$3,101,192
84$4,521,910$1,162,774$687,062$3,323,828
85$4,919,338$1,155,943$646,272$3,567,390
86$5,355,294$1,146,768$602,105$3,834,007
87$5,833,644$1,135,069$554,385$4,126,028
88$6,358,647$1,120,659$502,929$4,446,044
89$6,934,994$1,103,337$447,542$4,796,913
90$7,567,854$1,082,891$388,025$5,181,786
91$8,262,918$1,059,096$324,167$5,604,139
92$9,026,458$1,031,713$255,749$6,067,808
93$9,865,381$1,000,492$182,541$6,577,019
94$10,787,299$965,165$104,305$7,136,436
95$11,800,596$925,450$20,791$7,751,202
96$12,914,507$881,048$0$8,426,988
97$14,139,211$831,644$0$9,176,611
98$15,485,919$776,902$0$10,002,963
99$16,966,982$716,470$0$10,911,679
100$18,596,012$649,974$0$11,911,174