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%12.4%
1 years$81,588$80,861$80,152$79,460$78,785$77,994
2 years$40,390$39,638$38,909$38,202$37,516$36,720
3 years$26,659$25,904$25,177$24,476$23,802$23,025
4 years$19,795$19,042$18,322$17,634$16,976$16,224
5 years$15,678$14,929$14,219$13,545$12,905$12,180
6 years$12,934$12,191$11,491$10,832$10,211$9,514
7 years$10,975$10,238$9,549$8,905$8,304$7,636
8 years$9,506$8,776$8,098$7,470$6,889$6,249
9 years$8,364$7,641$6,975$6,363$5,802$5,190
10 years$7,451$6,735$6,081$5,485$4,943$4,359
11 years$6,705$5,996$5,354$4,774$4,251$3,695
12 years$6,083$5,382$4,751$4,187$3,684$3,154
13 years$5,558$4,863$4,245$3,697$3,213$2,709
14 years$5,108$4,421$3,814$3,281$2,816$2,338
15 years$4,718$4,038$3,444$2,926$2,480$2,026
16 years$4,377$3,705$3,122$2,620$2,192$1,762
17 years$4,077$3,412$2,841$2,354$1,943$1,536
18 years$3,810$3,153$2,593$2,122$1,728$1,343
19 years$3,572$2,922$2,374$1,917$1,540$1,177
20 years$3,358$2,715$2,179$1,736$1,376$1,033
21 years$3,164$2,529$2,004$1,576$1,231$909
22 years$2,989$2,361$1,847$1,433$1,103$800
23 years$2,829$2,208$1,706$1,305$990$705
24 years$2,682$2,069$1,577$1,190$890$623
25 years$2,547$1,942$1,461$1,087$801$550
26 years$2,423$1,825$1,355$994$722$486
27 years$2,308$1,717$1,258$910$651$430
28 years$2,202$1,618$1,170$833$587$381
29 years$2,103$1,527$1,088$764$530$337
30 years$2,011$1,442$1,014$701$479$299
31 years$1,925$1,363$945$644$433$265
32 years$1,845$1,290$882$592$392$235
33 years$1,769$1,221$823$544$354$209
34 years$1,699$1,158$769$501$321$185
35 years$1,632$1,098$719$461$291$164
36 years$1,569$1,042$673$425$263$146
37 years$1,510$990$630$391$239$130
38 years$1,454$941$590$361$216$115
39 years$1,401$894$553$333$196$102
40 years$1,351$851$518$307$178$91
41 years$1,303$810$486$283$161$81
42 years$1,258$771$456$261$147$72
43 years$1,215$735$427$241$133$64
44 years$1,174$701$401$223$121$57
45 years$1,135$668$377$206$110$50
46 years$1,098$637$354$190$100$45
47 years$1,062$608$332$175$90$40
48 years$1,028$581$312$162$82$36
49 years$996$554$294$150$75$32
50 years$965$530$276$138$68$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $988,000, adding $3,417 every year, while hoping to spend $29,836 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: 80/14/6 Blend
64$988,000$988,000$988,000$988,000
65$1,092,301$1,039,937$1,024,623$1,178,915
66$1,171,970$1,059,148$1,027,202$1,255,324
67$1,258,766$1,078,301$1,028,868$1,334,850
68$1,353,383$1,097,361$1,029,559$1,421,200
69$1,456,587$1,116,291$1,029,208$1,515,039
70$1,569,221$1,135,051$1,027,748$1,617,101
71$1,692,212$1,153,599$1,025,108$1,728,192
72$1,826,579$1,171,887$1,021,211$1,849,200
73$1,973,448$1,189,867$1,015,979$1,981,105
74$2,134,055$1,207,486$1,009,330$2,124,983
75$2,309,762$1,224,686$1,001,176$2,282,023
76$2,502,069$1,241,407$991,427$2,453,532
77$2,712,628$1,257,584$979,987$2,640,951
78$2,943,258$1,273,147$966,759$2,845,866
79$3,195,961$1,288,022$951,636$3,070,027
80$3,472,943$1,302,130$934,509$3,315,360
81$3,776,633$1,315,384$915,266$3,583,986
82$4,109,708$1,327,696$893,785$3,878,245
83$4,475,114$1,338,969$869,943$4,200,713
84$4,876,097$1,349,100$843,607$4,554,227
85$5,316,233$1,357,980$814,642$4,941,917
86$5,799,460$1,365,492$782,904$5,367,228
87$6,330,117$1,371,513$748,243$5,833,958
88$6,912,982$1,375,911$710,503$6,346,292
89$7,553,322$1,378,546$669,520$6,908,840
90$8,256,936$1,379,269$625,124$7,526,683
91$9,030,213$1,377,923$577,135$8,205,422
92$9,880,193$1,374,340$525,368$8,951,224
93$10,814,631$1,368,342$469,626$9,770,890
94$11,842,072$1,359,739$409,707$10,671,912
95$12,971,929$1,348,331$345,398$11,662,546
96$14,214,573$1,333,907$276,476$12,751,892
97$15,581,431$1,316,240$202,710$13,949,975
98$17,085,094$1,295,093$123,857$15,267,845
99$18,739,432$1,270,211$39,665$16,717,678
100$20,559,730$1,241,327$0$18,312,895