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%11.8%
1 years$80,102$79,388$78,692$78,013$77,349$76,765
2 years$39,654$38,916$38,200$37,506$36,833$36,244
3 years$26,174$25,432$24,718$24,030$23,368$22,793
4 years$19,435$18,695$17,988$17,313$16,666$16,109
5 years$15,392$14,657$13,960$13,298$12,670$12,132
6 years$12,698$11,969$11,282$10,634$10,025$9,507
7 years$10,775$10,051$9,375$8,743$8,153$7,656
8 years$9,333$8,616$7,951$7,334$6,764$6,287
9 years$8,212$7,502$6,848$6,247$5,696$5,240
10 years$7,315$6,612$5,970$5,385$4,853$4,417
11 years$6,583$5,887$5,256$4,687$4,174$3,757
12 years$5,972$5,283$4,665$4,111$3,617$3,220
13 years$5,456$4,775$4,168$3,629$3,154$2,776
14 years$5,015$4,340$3,745$3,222$2,765$2,405
15 years$4,632$3,965$3,381$2,873$2,434$2,093
16 years$4,297$3,638$3,065$2,573$2,152$1,827
17 years$4,003$3,350$2,789$2,311$1,908$1,600
18 years$3,741$3,096$2,546$2,083$1,696$1,405
19 years$3,507$2,869$2,331$1,882$1,512$1,237
20 years$3,297$2,666$2,139$1,705$1,350$1,090
21 years$3,107$2,483$1,968$1,547$1,209$963
22 years$2,934$2,318$1,814$1,407$1,083$852
23 years$2,777$2,168$1,674$1,281$972$754
24 years$2,633$2,031$1,549$1,168$874$669
25 years$2,501$1,906$1,434$1,067$786$594
26 years$2,379$1,792$1,330$976$708$527
27 years$2,266$1,686$1,235$893$639$469
28 years$2,162$1,589$1,148$818$576$417
29 years$2,065$1,499$1,069$750$520$371
30 years$1,975$1,415$995$689$470$331
31 years$1,890$1,338$928$632$425$295
32 years$1,811$1,266$866$581$385$263
33 years$1,737$1,199$808$535$348$234
34 years$1,668$1,136$755$492$315$209
35 years$1,602$1,078$706$453$285$186
36 years$1,541$1,023$661$417$259$166
37 years$1,482$972$618$384$234$149
38 years$1,427$923$579$354$212$133
39 years$1,375$878$542$326$193$118
40 years$1,326$835$508$301$175$106
41 years$1,279$795$477$278$159$95
42 years$1,235$757$447$256$144$84
43 years$1,193$722$420$237$131$75
44 years$1,152$688$394$219$119$67
45 years$1,114$656$370$202$108$60
46 years$1,078$626$347$186$98$54
47 years$1,043$597$326$172$89$48
48 years$1,009$570$307$159$81$43
49 years$978$544$288$147$73$38
50 years$947$520$271$136$66$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $970,000, adding $4,528 every year, while hoping to spend $45,173 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: 65/12/23 Blend
66$970,000$970,000$970,000$970,000
67$1,073,611$1,022,201$1,007,166$1,136,737
68$1,135,055$1,024,225$992,842$1,181,813
69$1,201,253$1,024,834$976,524$1,225,549
70$1,272,641$1,023,911$958,099$1,272,313
71$1,349,701$1,021,333$937,445$1,322,405
72$1,432,958$1,016,966$914,437$1,376,157
73$1,522,994$1,010,672$888,945$1,433,934
74$1,620,445$1,002,301$860,830$1,496,143
75$1,726,013$991,696$829,951$1,563,232
76$1,840,468$978,690$796,155$1,635,696
77$1,964,657$963,107$759,288$1,714,082
78$2,099,511$944,759$719,183$1,798,995
79$2,246,056$923,447$675,671$1,891,105
80$2,405,419$898,961$628,571$1,991,148
81$2,578,841$871,079$577,697$2,099,943
82$2,767,686$839,565$522,853$2,218,390
83$2,973,455$804,169$463,834$2,347,485
84$3,197,803$764,629$400,428$2,488,328
85$3,442,547$720,663$332,410$2,642,134
86$3,709,690$671,979$259,549$2,810,246
87$4,001,435$618,263$181,601$2,994,144
88$4,320,209$559,186$98,312$3,195,465
89$4,668,683$494,399$9,419$3,416,016
90$5,049,798$423,533$0$3,657,791
91$5,466,791$346,199$0$3,943,962
92$5,923,227$261,987$0$4,259,819
93$6,423,033$170,461$0$4,605,805
94$6,970,531$71,163$0$4,984,960
95$7,570,483$0$0$5,400,632
96$8,228,133$0$0$5,861,317
97$8,949,255$0$0$6,376,833
98$9,740,210$0$0$6,942,338
99$10,608,003$0$0$7,562,849
100$11,560,351$0$0$8,243,893