Can I retire at age 65 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$82,084$81,352$80,639$79,943$79,263$78,501
2 years$40,635$39,879$39,145$38,434$37,744$36,976
3 years$26,821$26,061$25,330$24,625$23,947$23,197
4 years$19,915$19,158$18,433$17,741$17,079$16,353
5 years$15,773$15,020$14,305$13,627$12,983$12,283
6 years$13,012$12,265$11,561$10,897$10,273$9,600
7 years$11,041$10,300$9,607$8,959$8,355$7,709
8 years$9,564$8,829$8,147$7,516$6,931$6,313
9 years$8,415$7,687$7,017$6,402$5,837$5,246
10 years$7,496$6,776$6,118$5,518$4,973$4,409
11 years$6,745$6,032$5,386$4,803$4,277$3,739
12 years$6,120$5,414$4,780$4,213$3,707$3,194
13 years$5,591$4,893$4,271$3,719$3,232$2,745
14 years$5,139$4,447$3,837$3,301$2,833$2,370
15 years$4,747$4,063$3,464$2,944$2,495$2,055
16 years$4,404$3,728$3,141$2,636$2,205$1,789
17 years$4,102$3,433$2,858$2,369$1,955$1,561
18 years$3,833$3,172$2,609$2,135$1,738$1,366
19 years$3,594$2,940$2,389$1,929$1,549$1,198
20 years$3,378$2,732$2,192$1,747$1,384$1,052
21 years$3,184$2,545$2,016$1,585$1,238$926
22 years$3,007$2,375$1,858$1,442$1,110$816
23 years$2,846$2,222$1,716$1,313$996$720
24 years$2,698$2,082$1,587$1,197$896$636
25 years$2,563$1,953$1,470$1,094$806$562
26 years$2,438$1,836$1,363$1,000$726$497
27 years$2,322$1,728$1,266$915$655$440
28 years$2,215$1,628$1,177$839$591$390
29 years$2,116$1,536$1,095$769$533$346
30 years$2,023$1,451$1,020$706$482$307
31 years$1,937$1,371$951$648$436$272
32 years$1,856$1,297$887$596$394$242
33 years$1,780$1,229$828$548$357$215
34 years$1,709$1,165$774$504$323$191
35 years$1,642$1,105$724$464$292$169
36 years$1,579$1,048$677$427$265$151
37 years$1,519$996$634$394$240$134
38 years$1,463$946$593$363$218$119
39 years$1,409$900$556$335$197$106
40 years$1,359$856$521$309$179$94
41 years$1,311$815$489$285$162$84
42 years$1,266$776$458$263$147$75
43 years$1,222$739$430$243$134$66
44 years$1,181$705$404$224$121$59
45 years$1,142$672$379$207$110$52
46 years$1,104$641$356$191$100$47
47 years$1,069$612$334$177$91$42
48 years$1,034$584$314$163$83$37
49 years$1,002$558$295$151$75$33
50 years$970$533$278$139$68$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $994,000, adding $6,728 every year, while hoping to spend $28,813 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: 38/44/18 Blend
64$994,000$994,000$994,000$994,000
65$1,102,328$1,049,646$1,034,239$1,138,024
66$1,184,109$1,070,422$1,038,229$1,185,097
67$1,273,265$1,091,250$1,041,387$1,232,697
68$1,370,520$1,112,103$1,043,655$1,283,536
69$1,476,666$1,132,950$1,044,972$1,337,922
70$1,592,581$1,153,758$1,045,272$1,396,192
71$1,719,225$1,174,493$1,044,490$1,458,723
72$1,857,659$1,195,116$1,042,553$1,525,927
73$2,009,050$1,215,587$1,039,389$1,598,261
74$2,174,683$1,235,861$1,034,918$1,676,227
75$2,355,973$1,255,891$1,029,060$1,760,381
76$2,554,478$1,275,625$1,021,730$1,851,337
77$2,771,914$1,295,010$1,012,837$1,949,770
78$3,010,170$1,313,986$1,002,288$2,056,429
79$3,271,327$1,332,491$989,984$2,172,136
80$3,557,677$1,350,457$975,823$2,297,802
81$3,871,743$1,367,813$959,696$2,434,430
82$4,216,307$1,384,482$941,492$2,583,129
83$4,594,430$1,400,381$921,092$2,745,121
84$5,009,486$1,415,424$898,372$2,921,754
85$5,465,189$1,429,516$873,204$3,114,519
86$5,965,634$1,442,557$845,451$3,325,057
87$6,515,328$1,454,442$814,973$3,555,182
88$7,119,238$1,465,057$781,622$3,806,893
89$7,782,838$1,474,281$745,243$4,082,399
90$8,512,153$1,481,987$705,675$4,384,134
91$9,313,826$1,488,038$662,748$4,714,784
92$10,195,172$1,492,288$616,287$5,077,314
93$11,164,253$1,494,583$566,106$5,474,995
94$12,229,950$1,494,760$512,013$5,911,432
95$13,402,046$1,492,645$453,806$6,390,607
96$14,691,321$1,488,052$391,276$6,916,909
97$16,109,655$1,480,785$324,202$7,495,182
98$17,670,133$1,470,636$252,356$8,130,765
99$19,387,174$1,457,385$175,498$8,829,552
100$21,276,666$1,440,797$93,377$9,598,041