Can I retire at age 65 with 980,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$80,927$80,207$79,503$78,817$78,147$75,766
2 years$40,063$39,317$38,594$37,893$37,213$34,835
3 years$26,443$25,694$24,973$24,278$23,609$21,309
4 years$19,635$18,888$18,174$17,491$16,838$14,633
5 years$15,551$14,808$14,104$13,435$12,800$10,695
6 years$12,829$12,092$11,398$10,744$10,128$8,126
7 years$10,886$10,155$9,472$8,833$8,237$6,337
8 years$9,429$8,705$8,033$7,410$6,833$5,035
9 years$8,296$7,579$6,919$6,312$5,755$4,056
10 years$7,391$6,680$6,032$5,441$4,903$3,301
11 years$6,650$5,947$5,310$4,735$4,217$2,709
12 years$6,034$5,338$4,713$4,153$3,654$2,238
13 years$5,513$4,824$4,211$3,667$3,187$1,858
14 years$5,066$4,385$3,783$3,255$2,793$1,549
15 years$4,680$4,006$3,416$2,903$2,460$1,295
16 years$4,342$3,675$3,097$2,599$2,174$1,087
17 years$4,044$3,385$2,818$2,335$1,927$914
18 years$3,779$3,128$2,572$2,105$1,714$770
19 years$3,543$2,899$2,355$1,902$1,528$649
20 years$3,331$2,693$2,161$1,722$1,364$549
21 years$3,139$2,509$1,988$1,563$1,221$464
22 years$2,964$2,342$1,832$1,421$1,094$393
23 years$2,806$2,190$1,692$1,294$982$333
24 years$2,660$2,052$1,565$1,181$883$282
25 years$2,527$1,926$1,449$1,078$795$240
26 years$2,403$1,810$1,344$986$716$203
27 years$2,290$1,703$1,248$902$645$173
28 years$2,184$1,605$1,160$827$582$147
29 years$2,086$1,514$1,080$758$526$125
30 years$1,995$1,430$1,006$696$475$106
31 years$1,910$1,352$938$639$430$90
32 years$1,830$1,279$875$587$389$77
33 years$1,755$1,211$817$540$352$65
34 years$1,685$1,148$763$497$318$55
35 years$1,619$1,089$713$457$288$47
36 years$1,556$1,034$667$421$261$40
37 years$1,498$982$625$388$237$34
38 years$1,442$933$585$358$215$29
39 years$1,390$887$548$330$195$25
40 years$1,340$844$514$304$177$21
41 years$1,293$803$482$281$160$18
42 years$1,248$765$452$259$145$15
43 years$1,205$729$424$239$132$13
44 years$1,164$695$398$221$120$11
45 years$1,126$663$374$204$109$9
46 years$1,089$632$351$188$99$8
47 years$1,054$603$330$174$90$7
48 years$1,020$576$310$161$81$6
49 years$988$550$291$149$74$5
50 years$957$525$274$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $980,000, adding $2,261 every year, while hoping to spend $42,020 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: 32/45/23 Blend
64$980,000$980,000$980,000$980,000
65$1,082,292$1,030,352$1,015,162$1,109,201
66$1,147,977$1,036,131$1,004,461$1,135,483
67$1,218,953$1,040,784$991,993$1,159,833
68$1,295,717$1,044,212$977,655$1,185,203
69$1,378,811$1,046,310$961,338$1,211,711
70$1,468,836$1,046,965$942,929$1,239,487
71$1,566,449$1,046,058$922,309$1,268,679
72$1,672,374$1,043,462$899,353$1,299,453
73$1,787,406$1,039,042$873,932$1,331,995
74$1,912,423$1,032,656$845,909$1,366,514
75$2,048,386$1,024,152$815,143$1,403,245
76$2,196,355$1,013,370$781,485$1,442,451
77$2,357,497$1,000,138$744,778$1,484,424
78$2,533,095$984,278$704,861$1,529,495
79$2,724,560$965,597$661,563$1,578,031
80$2,933,447$943,893$614,707$1,630,441
81$3,161,466$918,951$564,108$1,687,184
82$3,410,501$890,545$509,571$1,748,770
83$3,682,624$858,434$450,893$1,815,770
84$3,980,117$822,363$387,864$1,888,817
85$4,305,494$782,064$320,262$1,968,619
86$4,661,520$737,251$247,857$2,055,961
87$5,051,242$687,623$170,407$2,151,720
88$5,478,015$632,863$87,662$2,256,867
89$5,945,532$572,632$0$2,372,484
90$6,457,862$506,577$0$2,499,931
91$7,019,485$434,320$0$2,663,353
92$7,635,335$355,465$0$2,842,767
93$8,310,848$269,591$0$3,039,890
94$9,052,009$176,256$0$3,256,624
95$9,865,413$74,992$0$3,495,072
96$10,758,322$0$0$3,757,563
97$11,738,737$0$0$4,063,850
98$12,815,471$0$0$4,441,165
99$13,998,232$0$0$4,855,794
100$15,297,716$0$0$5,311,507