Can I retire at age 65 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$82,414$81,680$80,964$80,265$79,582$76,485
2 years$40,799$40,039$39,303$38,589$37,896$34,813
3 years$26,929$26,166$25,431$24,724$24,043$21,071
4 years$19,996$19,235$18,508$17,812$17,148$14,310
5 years$15,837$15,080$14,363$13,682$13,035$10,339
6 years$13,065$12,314$11,607$10,941$10,314$7,761
7 years$11,086$10,341$9,646$8,995$8,388$5,977
8 years$9,602$8,865$8,180$7,546$6,959$4,687
9 years$8,449$7,718$7,046$6,428$5,860$3,725
10 years$7,527$6,803$6,143$5,541$4,993$2,990
11 years$6,773$6,056$5,408$4,822$4,294$2,419
12 years$6,145$5,436$4,799$4,230$3,722$1,969
13 years$5,614$4,913$4,288$3,734$3,245$1,610
14 years$5,159$4,465$3,853$3,315$2,845$1,322
15 years$4,766$4,079$3,478$2,956$2,505$1,089
16 years$4,422$3,743$3,154$2,647$2,214$899
17 years$4,118$3,447$2,870$2,378$1,963$744
18 years$3,849$3,185$2,620$2,143$1,745$616
19 years$3,608$2,952$2,398$1,937$1,556$511
20 years$3,392$2,743$2,201$1,754$1,389$425
21 years$3,196$2,555$2,024$1,592$1,243$353
22 years$3,019$2,385$1,866$1,447$1,115$294
23 years$2,857$2,231$1,723$1,318$1,000$245
24 years$2,709$2,090$1,593$1,202$899$204
25 years$2,573$1,961$1,476$1,098$809$170
26 years$2,448$1,843$1,369$1,004$729$142
27 years$2,332$1,735$1,271$919$657$118
28 years$2,224$1,635$1,181$842$593$99
29 years$2,124$1,542$1,099$772$535$82
30 years$2,031$1,456$1,024$709$484$69
31 years$1,945$1,377$955$651$437$57
32 years$1,863$1,303$891$598$396$48
33 years$1,787$1,234$832$550$358$40
34 years$1,716$1,169$777$506$324$33
35 years$1,648$1,109$727$466$294$28
36 years$1,585$1,053$680$429$266$23
37 years$1,525$1,000$636$395$241$19
38 years$1,469$950$596$364$219$16
39 years$1,415$903$558$336$198$14
40 years$1,364$860$523$310$180$11
41 years$1,316$818$491$286$163$9
42 years$1,271$779$460$264$148$8
43 years$1,227$742$432$244$134$7
44 years$1,186$708$405$225$122$6
45 years$1,146$675$381$208$111$5
46 years$1,109$644$357$192$101$4
47 years$1,073$614$336$177$91$3
48 years$1,039$587$316$164$83$3
49 years$1,006$560$297$151$75$2
50 years$974$535$279$140$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $998,000, adding $5,119 every year, while hoping to spend $45,036 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: 51/31/18 Blend
64$998,000$998,000$998,000$998,000
65$1,105,076$1,052,182$1,036,713$1,155,707
66$1,169,876$1,055,821$1,023,525$1,194,752
67$1,239,776$1,058,129$1,008,386$1,232,082
68$1,315,249$1,058,993$991,183$1,271,694
69$1,396,814$1,058,293$971,797$1,313,819
70$1,485,042$1,055,903$950,105$1,358,713
71$1,580,561$1,051,686$925,978$1,406,662
72$1,684,059$1,045,501$899,280$1,457,982
73$1,796,297$1,037,194$869,869$1,513,022
74$1,918,108$1,026,604$837,598$1,572,172
75$2,050,408$1,013,562$802,311$1,635,864
76$2,194,208$997,885$763,847$1,704,575
77$2,350,617$979,381$722,036$1,778,836
78$2,520,857$957,847$676,701$1,859,233
79$2,706,272$933,069$627,657$1,946,419
80$2,908,339$904,817$574,712$2,041,114
81$3,128,688$872,851$517,662$2,144,117
82$3,369,108$836,915$456,299$2,256,312
83$3,631,572$796,739$390,400$2,378,680
84$3,918,250$752,037$319,736$2,512,304
85$4,231,532$702,507$244,067$2,658,384
86$4,574,047$647,829$163,142$2,818,248
87$4,948,692$587,664$76,700$2,993,366
88$5,358,656$521,657$0$3,185,363
89$5,807,450$449,429$0$3,399,023
90$6,298,940$370,582$0$3,649,263
91$6,837,385$284,693$0$3,923,591
92$7,427,474$191,319$0$4,224,499
93$8,074,371$89,989$0$4,554,735
94$8,783,765$0$0$4,917,335
95$9,561,919$0$0$5,322,401
96$10,415,736$0$0$5,800,637
97$11,352,814$0$0$6,325,618
98$12,381,526$0$0$6,902,045
99$13,511,095$0$0$7,535,102
100$14,751,679$0$0$8,230,496