Can I retire at age 67 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$77,624$76,933$76,258$75,600$74,957$73,746
2 years$38,428$37,712$37,019$36,346$35,694$34,477
3 years$25,364$24,645$23,953$23,287$22,646$21,461
4 years$18,834$18,117$17,432$16,777$16,151$15,007
5 years$14,916$14,204$13,528$12,886$12,278$11,179
6 years$12,305$11,599$10,933$10,305$9,715$8,662
7 years$10,441$9,740$9,085$8,473$7,901$6,894
8 years$9,044$8,349$7,705$7,108$6,555$5,593
9 years$7,958$7,270$6,636$6,054$5,520$4,604
10 years$7,089$6,408$5,786$5,219$4,703$3,832
11 years$6,379$5,704$5,094$4,542$4,045$3,218
12 years$5,788$5,120$4,520$3,984$3,505$2,721
13 years$5,288$4,627$4,039$3,517$3,057$2,314
14 years$4,859$4,206$3,629$3,122$2,679$1,977
15 years$4,489$3,842$3,276$2,784$2,359$1,696
16 years$4,165$3,525$2,970$2,493$2,085$1,459
17 years$3,879$3,246$2,703$2,240$1,849$1,259
18 years$3,625$3,000$2,467$2,019$1,644$1,089
19 years$3,399$2,780$2,259$1,824$1,465$944
20 years$3,195$2,584$2,073$1,652$1,309$820
21 years$3,011$2,406$1,907$1,499$1,171$713
22 years$2,843$2,246$1,757$1,363$1,050$621
23 years$2,691$2,101$1,623$1,242$942$541
24 years$2,552$1,968$1,501$1,132$847$472
25 years$2,423$1,847$1,390$1,034$762$412
26 years$2,305$1,736$1,289$946$687$360
27 years$2,196$1,634$1,197$865$619$315
28 years$2,095$1,540$1,113$793$559$275
29 years$2,001$1,452$1,036$727$504$241
30 years$1,913$1,372$965$667$456$211
31 years$1,832$1,297$899$613$412$185
32 years$1,755$1,227$839$563$373$162
33 years$1,683$1,162$783$518$337$142
34 years$1,616$1,101$732$477$305$124
35 years$1,553$1,045$684$439$277$109
36 years$1,493$991$640$404$251$95
37 years$1,437$942$599$372$227$84
38 years$1,383$895$561$343$206$73
39 years$1,333$851$526$316$187$64
40 years$1,285$810$493$292$169$57
41 years$1,240$771$462$269$154$50
42 years$1,197$734$433$248$139$44
43 years$1,156$699$407$229$127$38
44 years$1,117$667$382$212$115$34
45 years$1,080$636$358$196$104$29
46 years$1,044$606$337$181$95$26
47 years$1,011$579$316$167$86$23
48 years$978$552$297$154$78$20
49 years$947$528$279$143$71$17
50 years$918$504$263$132$64$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $940,000, adding $4,341 every year, while hoping to spend $43,727 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: 50/40/10 Blend
66$940,000$940,000$940,000$940,000
67$1,040,358$990,538$975,968$1,089,402
68$1,099,949$992,549$962,137$1,125,423
69$1,164,153$993,193$946,378$1,159,549
70$1,233,394$992,357$928,580$1,195,623
71$1,308,139$989,921$908,625$1,233,838
72$1,388,899$985,757$886,394$1,274,410
73$1,476,237$979,729$861,759$1,317,582
74$1,570,772$971,696$834,587$1,363,618
75$1,673,185$961,503$804,740$1,412,816
76$1,784,223$948,989$772,072$1,465,506
77$1,904,709$933,985$736,431$1,522,053
78$2,035,547$916,307$697,659$1,582,864
79$2,177,732$895,766$655,589$1,648,388
80$2,332,358$872,156$610,049$1,719,126
81$2,500,630$845,263$560,857$1,795,633
82$2,683,872$814,859$507,824$1,878,523
83$2,883,542$780,702$450,752$1,968,478
84$3,101,246$742,539$389,434$2,066,255
85$3,338,748$700,098$323,655$2,172,690
86$3,597,992$653,094$253,189$2,288,712
87$3,881,117$601,227$177,801$2,415,348
88$4,190,480$544,175$97,246$2,553,739
89$4,528,673$481,604$11,268$2,705,143
90$4,898,550$413,155$0$2,870,958
91$5,303,255$338,453$0$3,061,317
92$5,746,250$257,099$0$3,271,183
93$6,231,344$168,674$0$3,501,276
94$6,762,737$72,734$0$3,753,724
95$7,345,048$0$0$4,030,875
96$7,983,370$0$0$4,349,055
97$8,683,308$0$0$4,733,153
98$9,451,037$0$0$5,154,554
99$10,293,359$0$0$5,617,005
100$11,217,764$0$0$6,124,631