Can I retire at age 67 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$80,102$79,388$78,692$78,013$77,349$75,479
2 years$39,654$38,916$38,200$37,506$36,833$34,960
3 years$26,174$25,432$24,718$24,030$23,368$21,551
4 years$19,435$18,695$17,988$17,313$16,666$14,919
5 years$15,392$14,657$13,960$13,298$12,670$10,997
6 years$12,698$11,969$11,282$10,634$10,025$8,429
7 years$10,775$10,051$9,375$8,743$8,153$6,633
8 years$9,333$8,616$7,951$7,334$6,764$5,320
9 years$8,212$7,502$6,848$6,247$5,696$4,327
10 years$7,315$6,612$5,970$5,385$4,853$3,557
11 years$6,583$5,887$5,256$4,687$4,174$2,949
12 years$5,972$5,283$4,665$4,111$3,617$2,462
13 years$5,456$4,775$4,168$3,629$3,154$2,066
14 years$5,015$4,340$3,745$3,222$2,765$1,741
15 years$4,632$3,965$3,381$2,873$2,434$1,473
16 years$4,297$3,638$3,065$2,573$2,152$1,250
17 years$4,003$3,350$2,789$2,311$1,908$1,063
18 years$3,741$3,096$2,546$2,083$1,696$906
19 years$3,507$2,869$2,331$1,882$1,512$774
20 years$3,297$2,666$2,139$1,705$1,350$662
21 years$3,107$2,483$1,968$1,547$1,209$567
22 years$2,934$2,318$1,814$1,407$1,083$486
23 years$2,777$2,168$1,674$1,281$972$417
24 years$2,633$2,031$1,549$1,168$874$358
25 years$2,501$1,906$1,434$1,067$786$308
26 years$2,379$1,792$1,330$976$708$265
27 years$2,266$1,686$1,235$893$639$228
28 years$2,162$1,589$1,148$818$576$196
29 years$2,065$1,499$1,069$750$520$169
30 years$1,975$1,415$995$689$470$145
31 years$1,890$1,338$928$632$425$125
32 years$1,811$1,266$866$581$385$108
33 years$1,737$1,199$808$535$348$93
34 years$1,668$1,136$755$492$315$80
35 years$1,602$1,078$706$453$285$69
36 years$1,541$1,023$661$417$259$59
37 years$1,482$972$618$384$234$51
38 years$1,427$923$579$354$212$44
39 years$1,375$878$542$326$193$38
40 years$1,326$835$508$301$175$33
41 years$1,279$795$477$278$159$28
42 years$1,235$757$447$256$144$24
43 years$1,193$722$420$237$131$21
44 years$1,152$688$394$219$119$18
45 years$1,114$656$370$202$108$16
46 years$1,078$626$347$186$98$14
47 years$1,043$597$326$172$89$12
48 years$1,009$570$307$159$81$10
49 years$978$544$288$147$73$9
50 years$947$520$271$136$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $970,000, adding $5,407 every year, while hoping to spend $48,621 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: 46/43/11 Blend
66$970,000$970,000$970,000$970,000
67$1,074,517$1,023,107$1,008,072$1,120,390
68$1,132,386$1,021,507$990,110$1,151,069
69$1,194,527$1,018,199$969,917$1,178,899
70$1,261,326$1,013,048$947,367$1,207,994
71$1,333,205$1,005,911$922,327$1,238,488
72$1,410,626$996,635$894,659$1,270,534
73$1,494,100$985,060$864,221$1,304,299
74$1,584,186$971,015$830,859$1,339,974
75$1,681,497$954,319$794,417$1,377,770
76$1,786,709$934,781$754,730$1,417,924
77$1,900,565$912,196$711,624$1,460,701
78$2,023,879$886,351$664,921$1,506,399
79$2,157,549$857,017$614,430$1,555,346
80$2,302,562$823,953$559,956$1,607,914
81$2,460,002$786,905$501,293$1,664,512
82$2,631,062$745,603$438,226$1,725,601
83$2,817,054$699,762$370,531$1,791,690
84$3,019,423$649,079$297,972$1,863,351
85$3,239,756$593,236$220,307$1,941,216
86$3,479,803$531,897$137,279$2,025,991
87$3,741,487$464,703$48,622$2,118,460
88$4,026,925$391,280$0$2,219,495
89$4,338,447$311,229$0$2,335,463
90$4,678,619$224,130$0$2,468,484
91$5,050,265$129,539$0$2,614,076
92$5,456,493$26,987$0$2,773,603
93$5,900,726$0$0$2,948,578
94$6,386,732$0$0$3,180,430
95$6,918,661$0$0$3,448,276
96$7,501,082$0$0$3,741,661
97$8,139,027$0$0$4,063,133
98$8,838,036$0$0$4,415,499
99$9,604,213$0$0$4,801,852
100$10,444,277$0$0$5,225,596