Can I retire at age 65 with 980,000?

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 $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%13.1%
1 years$80,927$80,207$79,503$78,817$78,147$77,138
2 years$40,063$39,317$38,594$37,893$37,213$36,198
3 years$26,443$25,694$24,973$24,278$23,609$22,620
4 years$19,635$18,888$18,174$17,491$16,838$15,882
5 years$15,551$14,808$14,104$13,435$12,800$11,880
6 years$12,829$12,092$11,398$10,744$10,128$9,245
7 years$10,886$10,155$9,472$8,833$8,237$7,391
8 years$9,429$8,705$8,033$7,410$6,833$6,025
9 years$8,296$7,579$6,919$6,312$5,755$4,983
10 years$7,391$6,680$6,032$5,441$4,903$4,168
11 years$6,650$5,947$5,310$4,735$4,217$3,517
12 years$6,034$5,338$4,713$4,153$3,654$2,989
13 years$5,513$4,824$4,211$3,667$3,187$2,555
14 years$5,066$4,385$3,783$3,255$2,793$2,195
15 years$4,680$4,006$3,416$2,903$2,460$1,893
16 years$4,342$3,675$3,097$2,599$2,174$1,638
17 years$4,044$3,385$2,818$2,335$1,927$1,422
18 years$3,779$3,128$2,572$2,105$1,714$1,237
19 years$3,543$2,899$2,355$1,902$1,528$1,078
20 years$3,331$2,693$2,161$1,722$1,364$942
21 years$3,139$2,509$1,988$1,563$1,221$824
22 years$2,964$2,342$1,832$1,421$1,094$722
23 years$2,806$2,190$1,692$1,294$982$633
24 years$2,660$2,052$1,565$1,181$883$555
25 years$2,527$1,926$1,449$1,078$795$488
26 years$2,403$1,810$1,344$986$716$429
27 years$2,290$1,703$1,248$902$645$378
28 years$2,184$1,605$1,160$827$582$332
29 years$2,086$1,514$1,080$758$526$293
30 years$1,995$1,430$1,006$696$475$258
31 years$1,910$1,352$938$639$430$227
32 years$1,830$1,279$875$587$389$201
33 years$1,755$1,211$817$540$352$177
34 years$1,685$1,148$763$497$318$156
35 years$1,619$1,089$713$457$288$138
36 years$1,556$1,034$667$421$261$122
37 years$1,498$982$625$388$237$107
38 years$1,442$933$585$358$215$95
39 years$1,390$887$548$330$195$84
40 years$1,340$844$514$304$177$74
41 years$1,293$803$482$281$160$65
42 years$1,248$765$452$259$145$58
43 years$1,205$729$424$239$132$51
44 years$1,164$695$398$221$120$45
45 years$1,126$663$374$204$109$40
46 years$1,089$632$351$188$99$35
47 years$1,054$603$330$174$90$31
48 years$1,020$576$310$161$81$28
49 years$988$550$291$149$74$24
50 years$957$525$274$137$67$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $980,000, adding $3,548 every year, while hoping to spend $24,592 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: 62/23/15 Blend
64$980,000$980,000$980,000$980,000
65$1,083,620$1,031,680$1,016,490$1,146,576
66$1,167,983$1,056,066$1,024,376$1,213,695
67$1,260,128$1,080,824$1,031,703$1,283,826
68$1,360,821$1,105,944$1,038,425$1,359,794
69$1,470,907$1,131,418$1,044,495$1,442,167
70$1,591,318$1,157,236$1,049,864$1,531,570
71$1,723,078$1,183,386$1,054,480$1,628,692
72$1,867,315$1,209,855$1,058,288$1,734,293
73$2,025,271$1,236,627$1,061,230$1,849,210
74$2,198,314$1,263,688$1,063,248$1,974,363
75$2,387,952$1,291,018$1,064,276$2,110,769
76$2,595,843$1,318,598$1,064,249$2,259,545
77$2,823,815$1,346,406$1,063,098$2,421,925
78$3,073,881$1,374,416$1,060,748$2,599,266
79$3,348,258$1,402,604$1,057,124$2,793,065
80$3,649,387$1,430,939$1,052,145$3,004,972
81$3,979,960$1,459,390$1,045,727$3,236,803
82$4,342,939$1,487,923$1,037,782$3,490,561
83$4,741,587$1,516,500$1,028,216$3,768,453
84$5,179,501$1,545,080$1,016,934$4,072,911
85$5,660,642$1,573,621$1,003,833$4,406,616
86$6,189,374$1,602,075$988,808$4,772,520
87$6,770,504$1,630,390$971,746$5,173,880
88$7,409,328$1,658,512$952,533$5,614,282
89$8,111,682$1,686,381$931,045$6,097,681
90$8,883,993$1,713,934$907,155$6,628,433
91$9,733,345$1,741,102$880,729$7,211,340
92$10,667,542$1,767,811$851,629$7,851,696
93$11,695,180$1,793,983$819,708$8,555,332
94$12,825,734$1,819,533$784,813$9,328,678
95$14,069,640$1,844,371$746,785$10,178,818
96$15,438,398$1,868,400$705,457$11,113,560
97$16,944,679$1,891,517$660,655$12,141,510
98$18,602,446$1,913,610$612,196$13,272,152
99$20,427,081$1,934,563$559,891$14,515,939
100$22,435,535$1,954,248$503,539$15,884,391