Can I retire at age 65 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$80,762$80,043$79,341$78,656$77,987$75,917
2 years$39,981$39,237$38,515$37,815$37,137$35,066
3 years$26,389$25,642$24,922$24,229$23,561$21,554
4 years$19,595$18,849$18,137$17,455$16,804$14,876
5 years$15,519$14,778$14,075$13,407$12,774$10,930
6 years$12,803$12,067$11,375$10,722$10,108$8,350
7 years$10,863$10,134$9,452$8,815$8,220$6,549
8 years$9,410$8,687$8,016$7,395$6,820$5,234
9 years$8,279$7,563$6,904$6,299$5,743$4,242
10 years$7,376$6,667$6,019$5,430$4,893$3,474
11 years$6,637$5,935$5,299$4,725$4,208$2,870
12 years$6,022$5,327$4,703$4,145$3,647$2,386
13 years$5,501$4,814$4,202$3,659$3,180$1,994
14 years$5,056$4,376$3,775$3,248$2,788$1,674
15 years$4,670$3,997$3,409$2,897$2,455$1,410
16 years$4,333$3,668$3,091$2,594$2,169$1,191
17 years$4,036$3,378$2,812$2,331$1,923$1,009
18 years$3,772$3,121$2,567$2,100$1,710$856
19 years$3,536$2,893$2,350$1,898$1,524$728
20 years$3,324$2,688$2,157$1,719$1,362$620
21 years$3,132$2,504$1,984$1,560$1,219$528
22 years$2,958$2,337$1,828$1,418$1,092$451
23 years$2,800$2,186$1,688$1,292$980$385
24 years$2,655$2,048$1,561$1,178$881$329
25 years$2,521$1,922$1,446$1,076$793$281
26 years$2,399$1,806$1,341$984$714$241
27 years$2,285$1,700$1,245$900$644$206
28 years$2,180$1,602$1,158$825$581$177
29 years$2,082$1,511$1,077$757$525$151
30 years$1,991$1,427$1,004$694$474$130
31 years$1,906$1,349$936$638$429$111
32 years$1,826$1,277$873$586$388$95
33 years$1,751$1,209$815$539$351$82
34 years$1,681$1,146$762$496$318$70
35 years$1,615$1,087$712$456$288$60
36 years$1,553$1,032$666$420$261$52
37 years$1,495$980$623$387$236$44
38 years$1,439$931$584$357$214$38
39 years$1,387$885$547$329$194$33
40 years$1,337$842$513$304$176$28
41 years$1,290$802$481$280$160$24
42 years$1,245$764$451$259$145$21
43 years$1,203$728$423$239$132$18
44 years$1,162$694$397$220$119$15
45 years$1,123$661$373$204$108$13
46 years$1,087$631$350$188$98$11
47 years$1,051$602$329$174$89$10
48 years$1,018$575$309$160$81$8
49 years$986$549$291$148$74$7
50 years$955$524$273$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $978,000, adding $6,511 every year, while hoping to spend $32,331 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: 34/42/24 Blend
64$978,000$978,000$978,000$978,000
65$1,084,472$1,032,638$1,017,479$1,113,240
66$1,160,688$1,048,837$1,017,165$1,151,459
67$1,243,595$1,064,747$1,015,756$1,189,251
68$1,333,840$1,080,318$1,013,183$1,229,357
69$1,432,138$1,095,500$1,009,370$1,272,003
70$1,539,273$1,110,236$1,004,241$1,317,439
71$1,656,108$1,124,467$997,713$1,365,944
72$1,783,596$1,138,130$989,700$1,417,823
73$1,922,782$1,151,158$980,115$1,473,418
74$2,074,818$1,163,478$968,861$1,533,105
75$2,240,974$1,175,012$955,842$1,597,301
76$2,422,645$1,185,680$940,955$1,666,467
77$2,621,369$1,195,392$924,091$1,741,115
78$2,838,838$1,204,056$905,138$1,821,809
79$3,076,918$1,211,572$883,978$1,909,175
80$3,337,659$1,217,836$860,487$2,003,905
81$3,623,324$1,222,733$834,536$2,106,764
82$3,936,401$1,226,145$805,991$2,218,600
83$4,279,631$1,227,944$774,710$2,340,348
84$4,656,036$1,227,995$740,545$2,473,044
85$5,068,940$1,226,155$703,341$2,617,832
86$5,522,007$1,222,272$662,938$2,775,978
87$6,019,272$1,216,183$619,167$2,948,881
88$6,565,179$1,207,718$571,851$3,138,088
89$7,164,625$1,196,694$520,806$3,345,306
90$7,823,004$1,182,919$465,839$3,572,424
91$8,546,256$1,166,187$406,750$3,821,528
92$9,340,926$1,146,283$343,329$4,094,924
93$10,214,226$1,122,976$275,356$4,395,157
94$11,174,100$1,096,024$202,603$4,725,041
95$12,229,298$1,065,170$124,830$5,087,681
96$13,389,463$1,030,139$41,788$5,486,509
97$14,665,216$990,645$0$5,925,313
98$16,068,263$946,381$0$6,420,269
99$17,611,497$897,025$0$6,976,202
100$19,309,126$842,235$0$7,587,573