Can I retire at age 65 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$81,588$80,861$80,152$79,460$78,785$77,479
2 years$40,390$39,638$38,909$38,202$37,516$36,205
3 years$26,659$25,904$25,177$24,476$23,802$22,526
4 years$19,795$19,042$18,322$17,634$16,976$15,744
5 years$15,678$14,929$14,219$13,545$12,905$11,721
6 years$12,934$12,191$11,491$10,832$10,211$9,077
7 years$10,975$10,238$9,549$8,905$8,304$7,220
8 years$9,506$8,776$8,098$7,470$6,889$5,855
9 years$8,364$7,641$6,975$6,363$5,802$4,817
10 years$7,451$6,735$6,081$5,485$4,943$4,007
11 years$6,705$5,996$5,354$4,774$4,251$3,362
12 years$6,083$5,382$4,751$4,187$3,684$2,841
13 years$5,558$4,863$4,245$3,697$3,213$2,415
14 years$5,108$4,421$3,814$3,281$2,816$2,062
15 years$4,718$4,038$3,444$2,926$2,480$1,767
16 years$4,377$3,705$3,122$2,620$2,192$1,520
17 years$4,077$3,412$2,841$2,354$1,943$1,311
18 years$3,810$3,153$2,593$2,122$1,728$1,133
19 years$3,572$2,922$2,374$1,917$1,540$981
20 years$3,358$2,715$2,179$1,736$1,376$851
21 years$3,164$2,529$2,004$1,576$1,231$740
22 years$2,989$2,361$1,847$1,433$1,103$643
23 years$2,829$2,208$1,706$1,305$990$560
24 years$2,682$2,069$1,577$1,190$890$488
25 years$2,547$1,942$1,461$1,087$801$426
26 years$2,423$1,825$1,355$994$722$372
27 years$2,308$1,717$1,258$910$651$325
28 years$2,202$1,618$1,170$833$587$284
29 years$2,103$1,527$1,088$764$530$248
30 years$2,011$1,442$1,014$701$479$217
31 years$1,925$1,363$945$644$433$190
32 years$1,845$1,290$882$592$392$166
33 years$1,769$1,221$823$544$354$146
34 years$1,699$1,158$769$501$321$128
35 years$1,632$1,098$719$461$291$112
36 years$1,569$1,042$673$425$263$98
37 years$1,510$990$630$391$239$86
38 years$1,454$941$590$361$216$75
39 years$1,401$894$553$333$196$66
40 years$1,351$851$518$307$178$58
41 years$1,303$810$486$283$161$51
42 years$1,258$771$456$261$147$44
43 years$1,215$735$427$241$133$39
44 years$1,174$701$401$223$121$34
45 years$1,135$668$377$206$110$30
46 years$1,098$637$354$190$100$26
47 years$1,062$608$332$175$90$23
48 years$1,028$581$312$162$82$20
49 years$996$554$294$150$75$18
50 years$965$530$276$138$68$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $988,000, adding $4,706 every year, while hoping to spend $58,517 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: 54/16/30 Blend
64$988,000$988,000$988,000$988,000
65$1,093,630$1,041,266$1,025,952$1,143,306
66$1,142,919$1,030,027$998,060$1,167,000
67$1,195,274$1,016,275$967,272$1,186,444
68$1,250,946$999,827$933,430$1,206,468
69$1,310,210$980,486$896,367$1,227,149
70$1,373,366$958,044$855,910$1,248,579
71$1,440,744$932,283$811,878$1,270,860
72$1,512,704$902,969$764,080$1,294,110
73$1,589,642$869,857$712,319$1,318,460
74$1,671,991$832,685$656,387$1,344,061
75$1,760,225$791,178$596,067$1,371,083
76$1,854,867$745,045$531,135$1,399,716
77$1,956,488$693,977$461,352$1,430,177
78$2,065,716$637,648$386,474$1,462,707
79$2,183,240$575,713$306,241$1,497,579
80$2,309,815$507,808$220,385$1,535,099
81$2,446,274$433,548$128,626$1,575,611
82$2,593,529$352,527$30,670$1,619,497
83$2,752,582$264,314$0$1,667,188
84$2,924,536$168,456$0$1,742,810
85$3,110,602$64,473$0$1,835,269
86$3,312,111$0$0$1,935,444
87$3,530,527$0$0$2,052,591
88$3,767,460$0$0$2,192,061
89$4,024,679$0$0$2,343,557
90$4,304,133$0$0$2,508,233
91$4,607,962$0$0$2,687,364
92$4,938,524$0$0$2,882,351
93$5,298,410$0$0$3,094,733
94$5,690,474$0$0$3,326,207
95$6,117,854$0$0$3,578,640
96$6,584,005$0$0$3,854,086
97$7,092,732$0$0$4,154,805
98$7,648,219$0$0$4,483,287
99$8,255,074$0$0$4,842,272
100$8,918,372$0$0$5,234,777