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%15.3%
1 years$82,414$81,680$80,964$80,265$79,582$77,848
2 years$40,799$40,039$39,303$38,589$37,896$36,158
3 years$26,929$26,166$25,431$24,724$24,043$22,355
4 years$19,996$19,235$18,508$17,812$17,148$15,522
5 years$15,837$15,080$14,363$13,682$13,035$11,478
6 years$13,065$12,314$11,607$10,941$10,314$8,826
7 years$11,086$10,341$9,646$8,995$8,388$6,970
8 years$9,602$8,865$8,180$7,546$6,959$5,609
9 years$8,449$7,718$7,046$6,428$5,860$4,579
10 years$7,527$6,803$6,143$5,541$4,993$3,778
11 years$6,773$6,056$5,408$4,822$4,294$3,145
12 years$6,145$5,436$4,799$4,230$3,722$2,635
13 years$5,614$4,913$4,288$3,734$3,245$2,220
14 years$5,159$4,465$3,853$3,315$2,845$1,879
15 years$4,766$4,079$3,478$2,956$2,505$1,596
16 years$4,422$3,743$3,154$2,647$2,214$1,360
17 years$4,118$3,447$2,870$2,378$1,963$1,162
18 years$3,849$3,185$2,620$2,143$1,745$995
19 years$3,608$2,952$2,398$1,937$1,556$854
20 years$3,392$2,743$2,201$1,754$1,389$733
21 years$3,196$2,555$2,024$1,592$1,243$631
22 years$3,019$2,385$1,866$1,447$1,115$543
23 years$2,857$2,231$1,723$1,318$1,000$468
24 years$2,709$2,090$1,593$1,202$899$404
25 years$2,573$1,961$1,476$1,098$809$349
26 years$2,448$1,843$1,369$1,004$729$301
27 years$2,332$1,735$1,271$919$657$261
28 years$2,224$1,635$1,181$842$593$225
29 years$2,124$1,542$1,099$772$535$195
30 years$2,031$1,456$1,024$709$484$169
31 years$1,945$1,377$955$651$437$146
32 years$1,863$1,303$891$598$396$126
33 years$1,787$1,234$832$550$358$110
34 years$1,716$1,169$777$506$324$95
35 years$1,648$1,109$727$466$294$82
36 years$1,585$1,053$680$429$266$71
37 years$1,525$1,000$636$395$241$62
38 years$1,469$950$596$364$219$54
39 years$1,415$903$558$336$198$46
40 years$1,364$860$523$310$180$40
41 years$1,316$818$491$286$163$35
42 years$1,271$779$460$264$148$30
43 years$1,227$742$432$244$134$26
44 years$1,186$708$405$225$122$23
45 years$1,146$675$381$208$111$20
46 years$1,109$644$357$192$101$17
47 years$1,073$614$336$177$91$15
48 years$1,039$587$316$164$83$13
49 years$1,006$560$297$151$75$11
50 years$974$535$279$140$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $998,000, adding $4,940 every year, while hoping to spend $53,012 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: 47/37/16 Blend
64$998,000$998,000$998,000$998,000
65$1,104,892$1,051,998$1,036,529$1,151,616
66$1,161,186$1,047,141$1,014,848$1,179,696
67$1,221,446$1,040,270$990,664$1,204,368
68$1,286,020$1,031,229$963,838$1,229,999
69$1,355,290$1,019,855$934,222$1,256,700
70$1,429,675$1,005,974$901,664$1,284,595
71$1,509,636$989,401$866,004$1,313,824
72$1,595,679$969,941$827,075$1,344,547
73$1,688,357$947,388$784,702$1,376,942
74$1,788,282$921,522$738,701$1,411,208
75$1,896,121$892,112$688,882$1,447,572
76$2,012,612$858,911$635,046$1,486,286
77$2,138,561$821,661$576,983$1,527,635
78$2,274,859$780,087$514,477$1,571,935
79$2,422,481$733,897$447,298$1,619,542
80$2,582,501$682,785$375,210$1,670,854
81$2,756,101$626,426$297,964$1,726,317
82$2,944,579$564,477$215,301$1,786,425
83$3,149,363$496,573$126,951$1,851,734
84$3,372,024$422,332$32,630$1,922,863
85$3,614,293$341,348$0$2,000,500
86$3,878,069$253,193$0$2,097,027
87$4,165,448$157,414$0$2,208,387
88$4,478,730$53,535$0$2,330,010
89$4,820,453$0$0$2,463,013
90$5,193,406$0$0$2,632,636
91$5,600,659$0$0$2,841,766
92$6,045,594$0$0$3,070,356
93$6,531,934$0$0$3,320,332
94$7,063,775$0$0$3,593,815
95$7,645,630$0$0$3,893,140
96$8,282,467$0$0$4,220,878
97$8,979,755$0$0$4,579,860
98$9,743,521$0$0$4,973,204
99$10,580,397$0$0$5,404,345
100$11,497,690$0$0$5,877,065