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%13.7%
1 years$80,184$79,470$78,773$78,093$77,429$76,240
2 years$39,695$38,956$38,239$37,545$36,871$35,676
3 years$26,201$25,458$24,743$24,055$23,392$22,229
4 years$19,455$18,714$18,007$17,330$16,684$15,560
5 years$15,408$14,672$13,974$13,311$12,683$11,603
6 years$12,711$11,981$11,293$10,645$10,035$9,000
7 years$10,786$10,062$9,385$8,752$8,161$7,171
8 years$9,342$8,625$7,959$7,342$6,771$5,825
9 years$8,220$7,509$6,855$6,254$5,702$4,801
10 years$7,323$6,619$5,976$5,391$4,858$4,001
11 years$6,589$5,893$5,261$4,692$4,178$3,363
12 years$5,979$5,289$4,669$4,115$3,621$2,848
13 years$5,462$4,780$4,172$3,633$3,157$2,425
14 years$5,020$4,345$3,748$3,225$2,768$2,075
15 years$4,637$3,969$3,384$2,876$2,437$1,782
16 years$4,302$3,641$3,068$2,575$2,154$1,536
17 years$4,007$3,354$2,792$2,314$1,910$1,327
18 years$3,745$3,099$2,549$2,085$1,698$1,150
19 years$3,511$2,872$2,333$1,884$1,513$998
20 years$3,300$2,669$2,141$1,707$1,352$868
21 years$3,110$2,486$1,970$1,549$1,210$756
22 years$2,937$2,320$1,815$1,408$1,084$659
23 years$2,780$2,170$1,676$1,282$973$575
24 years$2,636$2,033$1,550$1,170$875$502
25 years$2,503$1,908$1,436$1,068$787$439
26 years$2,381$1,793$1,332$977$709$384
27 years$2,269$1,688$1,237$894$639$337
28 years$2,164$1,590$1,150$819$577$295
29 years$2,067$1,500$1,070$751$521$259
30 years$1,977$1,417$996$689$471$227
31 years$1,892$1,339$929$633$426$199
32 years$1,813$1,267$867$582$385$174
33 years$1,739$1,200$809$535$348$153
34 years$1,669$1,138$756$492$315$134
35 years$1,604$1,079$707$453$286$118
36 years$1,542$1,024$661$417$259$104
37 years$1,484$973$619$385$235$91
38 years$1,429$924$580$354$213$80
39 years$1,377$879$543$327$193$70
40 years$1,328$836$509$301$175$62
41 years$1,281$796$477$278$159$54
42 years$1,236$758$448$257$144$48
43 years$1,194$722$420$237$131$42
44 years$1,154$689$394$219$119$37
45 years$1,115$657$370$202$108$32
46 years$1,079$626$348$187$98$29
47 years$1,044$598$327$172$89$25
48 years$1,010$571$307$159$81$22
49 years$979$545$289$147$73$19
50 years$948$521$271$136$67$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $971,000, adding $2,378 every year, while hoping to spend $58,772 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: 59/17/24 Blend
64$971,000$971,000$971,000$971,000
65$1,072,495$1,021,032$1,005,981$1,128,731
66$1,119,356$1,008,530$977,149$1,154,793
67$1,169,028$993,445$945,381$1,176,670
68$1,221,734$975,589$910,516$1,199,262
69$1,277,721$954,762$872,388$1,222,652
70$1,337,256$930,753$830,821$1,246,934
71$1,400,634$903,338$785,631$1,272,214
72$1,468,176$872,279$736,627$1,298,611
73$1,540,235$837,326$683,609$1,326,260
74$1,617,197$798,212$626,368$1,355,313
75$1,699,484$754,658$564,684$1,385,941
76$1,787,560$706,365$498,330$1,418,335
77$1,881,934$653,020$427,067$1,452,712
78$1,983,164$594,290$350,646$1,489,313
79$2,091,861$529,825$268,807$1,528,409
80$2,208,697$459,253$181,279$1,570,303
81$2,334,410$382,182$87,777$1,615,336
82$2,469,809$298,198$0$1,663,886
83$2,615,783$206,863$0$1,719,451
84$2,773,309$107,716$0$1,803,618
85$2,943,461$268$0$1,894,496
86$3,127,417$0$0$1,992,758
87$3,326,474$0$0$2,120,849
88$3,542,056$0$0$2,259,695
89$3,775,731$0$0$2,410,262
90$4,029,221$0$0$2,573,670
91$4,304,420$0$0$2,751,149
92$4,603,413$0$0$2,944,052
93$4,928,490$0$0$3,153,867
94$5,282,175$0$0$3,382,234
95$5,667,242$0$0$3,630,955
96$6,086,744$0$0$3,902,013
97$6,544,040$0$0$4,197,590
98$7,042,828$0$0$4,520,090
99$7,587,179$0$0$4,872,157
100$8,181,572$0$0$5,256,702