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%12.2%
1 years$80,184$79,470$78,773$78,093$77,429$76,716
2 years$39,695$38,956$38,239$37,545$36,871$36,153
3 years$26,201$25,458$24,743$24,055$23,392$22,691
4 years$19,455$18,714$18,007$17,330$16,684$16,005
5 years$15,408$14,672$13,974$13,311$12,683$12,028
6 years$12,711$11,981$11,293$10,645$10,035$9,406
7 years$10,786$10,062$9,385$8,752$8,161$7,557
8 years$9,342$8,625$7,959$7,342$6,771$6,192
9 years$8,220$7,509$6,855$6,254$5,702$5,148
10 years$7,323$6,619$5,976$5,391$4,858$4,330
11 years$6,589$5,893$5,261$4,692$4,178$3,674
12 years$5,979$5,289$4,669$4,115$3,621$3,140
13 years$5,462$4,780$4,172$3,633$3,157$2,700
14 years$5,020$4,345$3,748$3,225$2,768$2,334
15 years$4,637$3,969$3,384$2,876$2,437$2,025
16 years$4,302$3,641$3,068$2,575$2,154$1,763
17 years$4,007$3,354$2,792$2,314$1,910$1,540
18 years$3,745$3,099$2,549$2,085$1,698$1,348
19 years$3,511$2,872$2,333$1,884$1,513$1,183
20 years$3,300$2,669$2,141$1,707$1,352$1,040
21 years$3,110$2,486$1,970$1,549$1,210$916
22 years$2,937$2,320$1,815$1,408$1,084$808
23 years$2,780$2,170$1,676$1,282$973$713
24 years$2,636$2,033$1,550$1,170$875$631
25 years$2,503$1,908$1,436$1,068$787$558
26 years$2,381$1,793$1,332$977$709$494
27 years$2,269$1,688$1,237$894$639$438
28 years$2,164$1,590$1,150$819$577$388
29 years$2,067$1,500$1,070$751$521$344
30 years$1,977$1,417$996$689$471$306
31 years$1,892$1,339$929$633$426$272
32 years$1,813$1,267$867$582$385$241
33 years$1,739$1,200$809$535$348$214
34 years$1,669$1,138$756$492$315$191
35 years$1,604$1,079$707$453$286$170
36 years$1,542$1,024$661$417$259$151
37 years$1,484$973$619$385$235$134
38 years$1,429$924$580$354$213$119
39 years$1,377$879$543$327$193$106
40 years$1,328$836$509$301$175$95
41 years$1,281$796$477$278$159$84
42 years$1,236$758$448$257$144$75
43 years$1,194$722$420$237$131$67
44 years$1,154$689$394$219$119$59
45 years$1,115$657$370$202$108$53
46 years$1,079$626$348$187$98$47
47 years$1,044$598$327$172$89$42
48 years$1,010$571$307$159$81$37
49 years$979$545$289$147$73$33
50 years$948$521$271$136$67$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $971,000, adding $4,017 every year, while hoping to spend $20,843 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: 45/33/22 Blend
64$971,000$971,000$971,000$971,000
65$1,074,186$1,022,723$1,007,672$1,115,551
66$1,161,576$1,050,659$1,019,252$1,173,019
67$1,257,181$1,079,266$1,030,522$1,232,944
68$1,361,818$1,108,554$1,041,448$1,297,506
69$1,476,384$1,138,534$1,051,998$1,367,148
70$1,601,869$1,169,216$1,062,134$1,442,355
71$1,739,363$1,200,611$1,071,819$1,523,663
72$1,890,065$1,232,729$1,081,012$1,611,662
73$2,055,298$1,265,579$1,089,672$1,707,000
74$2,236,517$1,299,170$1,097,754$1,810,392
75$2,435,324$1,333,512$1,105,212$1,922,627
76$2,653,487$1,368,614$1,111,996$2,044,571
77$2,892,949$1,404,483$1,118,054$2,177,181
78$3,155,854$1,441,126$1,123,333$2,321,509
79$3,444,562$1,478,552$1,127,776$2,478,716
80$3,761,672$1,516,766$1,131,321$2,650,078
81$4,110,050$1,555,775$1,133,907$2,837,005
82$4,492,849$1,595,582$1,135,468$3,041,047
83$4,913,547$1,636,193$1,135,933$3,263,915
84$5,375,972$1,677,610$1,135,230$3,507,491
85$5,884,344$1,719,835$1,133,283$3,773,852
86$6,443,311$1,762,870$1,130,011$4,065,285
87$7,057,993$1,806,716$1,125,331$4,384,309
88$7,734,032$1,851,369$1,119,154$4,733,704
89$8,477,646$1,896,829$1,111,388$5,116,529
90$9,295,683$1,943,090$1,101,937$5,536,158
91$10,195,689$1,990,148$1,090,698$5,996,307
92$11,185,979$2,037,995$1,077,566$6,501,075
93$12,275,713$2,086,621$1,062,429$7,054,974
94$13,474,987$2,136,017$1,045,171$7,662,981
95$14,794,922$2,186,168$1,025,671$8,330,580
96$16,247,773$2,237,059$1,003,800$9,063,812
97$17,847,044$2,288,672$979,425$9,869,338
98$19,607,613$2,340,988$952,406$10,754,498
99$21,545,875$2,393,982$922,598$11,727,381
100$23,679,897$2,447,630$889,847$12,796,902