Can I retire at age 65 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$81,671$80,943$80,233$79,541$78,864$76,187
2 years$40,431$39,678$38,948$38,241$37,554$34,884
3 years$26,686$25,930$25,202$24,501$23,826$21,247
4 years$19,815$19,061$18,341$17,652$16,993$14,524
5 years$15,694$14,944$14,233$13,558$12,918$10,566
6 years$12,947$12,203$11,502$10,843$10,221$7,988
7 years$10,986$10,248$9,559$8,914$8,313$6,198
8 years$9,515$8,785$8,106$7,478$6,896$4,898
9 years$8,373$7,649$6,982$6,370$5,808$3,924
10 years$7,459$6,742$6,087$5,491$4,948$3,176
11 years$6,712$6,002$5,359$4,779$4,256$2,591
12 years$6,089$5,387$4,756$4,191$3,688$2,127
13 years$5,563$4,868$4,249$3,700$3,216$1,755
14 years$5,113$4,425$3,818$3,285$2,819$1,454
15 years$4,723$4,042$3,447$2,929$2,482$1,209
16 years$4,382$3,709$3,125$2,623$2,194$1,007
17 years$4,081$3,416$2,844$2,357$1,945$841
18 years$3,814$3,156$2,596$2,124$1,730$704
19 years$3,576$2,925$2,377$1,919$1,542$590
20 years$3,361$2,718$2,181$1,738$1,377$495
21 years$3,168$2,532$2,006$1,577$1,232$416
22 years$2,992$2,363$1,849$1,434$1,104$350
23 years$2,831$2,210$1,707$1,306$991$294
24 years$2,685$2,071$1,579$1,191$891$248
25 years$2,550$1,944$1,462$1,088$802$209
26 years$2,426$1,827$1,356$995$722$176
27 years$2,311$1,719$1,259$911$651$148
28 years$2,204$1,620$1,171$834$588$125
29 years$2,105$1,528$1,090$765$531$105
30 years$2,013$1,443$1,015$702$479$89
31 years$1,927$1,364$946$645$433$75
32 years$1,847$1,291$883$593$392$63
33 years$1,771$1,223$824$545$355$53
34 years$1,700$1,159$770$501$321$45
35 years$1,634$1,099$720$462$291$38
36 years$1,571$1,043$674$425$264$32
37 years$1,511$991$630$392$239$27
38 years$1,455$942$590$361$217$23
39 years$1,402$895$553$333$196$19
40 years$1,352$852$518$307$178$16
41 years$1,304$811$486$283$162$14
42 years$1,259$772$456$261$147$12
43 years$1,216$736$428$241$133$10
44 years$1,175$701$402$223$121$8
45 years$1,136$669$377$206$110$7
46 years$1,099$638$354$190$100$6
47 years$1,063$609$333$176$90$5
48 years$1,029$581$313$162$82$4
49 years$997$555$294$150$75$4
50 years$966$530$276$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $989,000, adding $3,556 every year, while hoping to spend $41,231 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: 64/18/18 Blend
64$989,000$989,000$989,000$989,000
65$1,093,546$1,041,129$1,025,800$1,158,378
66$1,161,218$1,048,275$1,016,294$1,209,496
67$1,234,411$1,054,389$1,005,089$1,260,298
68$1,313,644$1,059,377$992,083$1,314,816
69$1,399,489$1,063,140$977,170$1,373,415
70$1,492,573$1,065,570$960,242$1,436,496
71$1,593,587$1,066,555$941,182$1,504,505
72$1,703,292$1,065,974$919,869$1,577,932
73$1,822,521$1,063,700$896,179$1,657,319
74$1,952,195$1,059,598$869,977$1,743,264
75$2,093,324$1,053,524$841,127$1,836,428
76$2,247,022$1,045,326$809,484$1,937,540
77$2,414,513$1,034,841$774,896$2,047,405
78$2,597,144$1,021,899$737,206$2,166,912
79$2,796,399$1,006,318$696,248$2,297,041
80$3,013,909$987,906$651,850$2,438,876
81$3,251,472$966,457$603,832$2,593,613
82$3,511,066$941,758$552,004$2,762,571
83$3,794,869$913,578$496,170$2,947,206
84$4,105,279$881,677$436,125$3,149,125
85$4,444,936$845,797$371,653$3,370,103
86$4,816,746$805,668$302,531$3,612,097
87$5,223,911$761,003$228,523$3,877,267
88$5,669,957$711,499$149,385$4,167,997
89$6,158,766$656,835$64,862$4,486,918
90$6,694,613$596,673$0$4,836,931
91$7,282,207$530,654$0$5,226,105
92$7,926,735$458,399$0$5,666,717
93$8,633,910$379,508$0$6,150,250
94$9,410,025$293,560$0$6,681,061
95$10,262,010$200,107$0$7,263,954
96$11,197,500$98,678$0$7,904,226
97$12,224,907$0$0$8,607,712
98$13,353,495$0$0$9,383,072
99$14,593,471$0$0$10,256,503
100$15,956,079$0$0$11,216,390