Can I retire at age 67 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$79,441$78,733$78,043$77,369$76,711$74,555
2 years$39,327$38,595$37,885$37,197$36,529$34,373
3 years$25,958$25,222$24,514$23,832$23,176$21,087
4 years$19,274$18,541$17,840$17,170$16,529$14,524
5 years$15,265$14,536$13,845$13,188$12,565$10,650
6 years$12,593$11,870$11,188$10,547$9,942$8,118
7 years$10,686$9,968$9,298$8,671$8,086$6,353
8 years$9,256$8,545$7,885$7,274$6,708$5,065
9 years$8,144$7,440$6,791$6,196$5,649$4,095
10 years$7,255$6,558$5,921$5,341$4,813$3,346
11 years$6,528$5,838$5,213$4,648$4,140$2,756
12 years$5,923$5,240$4,626$4,077$3,587$2,285
13 years$5,411$4,735$4,133$3,599$3,128$1,905
14 years$4,973$4,304$3,714$3,195$2,742$1,595
15 years$4,594$3,932$3,353$2,849$2,414$1,340
16 years$4,262$3,608$3,040$2,551$2,134$1,129
17 years$3,970$3,322$2,766$2,292$1,892$953
18 years$3,710$3,070$2,525$2,066$1,682$807
19 years$3,478$2,845$2,312$1,867$1,499$684
20 years$3,270$2,644$2,122$1,691$1,339$580
21 years$3,081$2,463$1,951$1,534$1,199$493
22 years$2,910$2,299$1,799$1,395$1,074$419
23 years$2,754$2,150$1,661$1,271$964$357
24 years$2,611$2,015$1,536$1,159$867$304
25 years$2,480$1,891$1,422$1,058$780$259
26 years$2,359$1,777$1,319$968$703$221
27 years$2,248$1,672$1,225$886$633$189
28 years$2,144$1,576$1,139$812$572$161
29 years$2,048$1,486$1,060$744$516$138
30 years$1,958$1,404$987$683$466$117
31 years$1,875$1,327$920$627$422$100
32 years$1,796$1,256$859$576$381$86
33 years$1,723$1,189$802$530$345$73
34 years$1,654$1,127$749$488$312$63
35 years$1,589$1,069$700$449$283$54
36 years$1,528$1,015$655$414$256$46
37 years$1,470$964$613$381$232$39
38 years$1,416$916$574$351$211$33
39 years$1,364$871$538$324$191$29
40 years$1,315$829$504$299$173$24
41 years$1,269$789$473$276$157$21
42 years$1,225$751$444$254$143$18
43 years$1,183$716$416$235$129$15
44 years$1,143$682$391$217$118$13
45 years$1,105$651$367$200$107$11
46 years$1,069$621$345$185$97$10
47 years$1,034$592$324$171$88$8
48 years$1,001$565$304$158$80$7
49 years$969$540$286$146$73$6
50 years$939$516$269$135$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $962,000, adding $4,645 every year, while hoping to spend $51,461 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: 36/50/14 Blend
66$962,000$962,000$962,000$962,000
67$1,064,915$1,013,929$999,018$1,098,511
68$1,118,783$1,008,858$977,731$1,118,066
69$1,176,420$1,001,813$954,006$1,133,918
70$1,238,156$992,644$927,708$1,149,913
71$1,304,355$981,190$898,693$1,166,091
72$1,375,414$967,283$866,813$1,182,498
73$1,451,767$950,741$831,913$1,199,192
74$1,533,895$931,375$793,829$1,216,239
75$1,622,322$908,982$752,392$1,233,716
76$1,717,626$883,349$707,424$1,251,715
77$1,820,440$854,249$658,740$1,270,343
78$1,931,461$821,444$606,144$1,289,721
79$2,051,455$784,679$549,434$1,309,991
80$2,181,262$743,687$488,399$1,331,316
81$2,321,806$698,184$422,816$1,353,883
82$2,474,105$647,870$352,455$1,377,903
83$2,639,276$592,428$277,075$1,403,619
84$2,818,549$531,522$196,423$1,431,306
85$3,013,274$464,800$110,236$1,461,278
86$3,224,938$391,886$18,240$1,493,888
87$3,455,179$312,385$0$1,529,536
88$3,705,794$225,879$0$1,580,616
89$3,978,766$131,928$0$1,639,379
90$4,276,272$30,064$0$1,703,717
91$4,600,711$0$0$1,774,325
92$4,954,724$0$0$1,896,104
93$5,341,215$0$0$2,047,243
94$5,763,384$0$0$2,212,466
95$6,224,750$0$0$2,393,169
96$6,729,191$0$0$2,590,887
97$7,280,975$0$0$2,807,311
98$7,884,801$0$0$3,044,303
99$8,545,845$0$0$3,303,914
100$9,269,803$0$0$3,588,401