Can I retire at age 67 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$81,175$80,452$79,747$79,058$78,386$76,584
2 years$40,186$39,437$38,712$38,009$37,327$35,521
3 years$26,524$25,773$25,049$24,353$23,682$21,929
4 years$19,695$18,946$18,229$17,545$16,890$15,204
5 years$15,599$14,854$14,147$13,476$12,839$11,225
6 years$12,868$12,129$11,433$10,777$10,159$8,617
7 years$10,919$10,186$9,501$8,860$8,262$6,793
8 years$9,458$8,731$8,057$7,433$6,854$5,458
9 years$8,322$7,602$6,940$6,331$5,772$4,447
10 years$7,413$6,701$6,050$5,457$4,918$3,663
11 years$6,671$5,965$5,327$4,750$4,230$3,043
12 years$6,052$5,354$4,727$4,166$3,666$2,545
13 years$5,530$4,839$4,223$3,678$3,196$2,140
14 years$5,082$4,398$3,795$3,265$2,802$1,807
15 years$4,694$4,018$3,426$2,912$2,467$1,532
16 years$4,355$3,686$3,106$2,607$2,180$1,303
17 years$4,056$3,395$2,827$2,342$1,933$1,111
18 years$3,791$3,137$2,580$2,111$1,719$949
19 years$3,554$2,907$2,362$1,907$1,532$812
20 years$3,341$2,702$2,168$1,728$1,369$696
21 years$3,148$2,517$1,994$1,568$1,225$598
22 years$2,974$2,349$1,838$1,426$1,098$513
23 years$2,814$2,197$1,697$1,298$985$442
24 years$2,668$2,059$1,569$1,184$886$380
25 years$2,534$1,932$1,454$1,081$797$327
26 years$2,411$1,816$1,348$989$718$282
27 years$2,297$1,709$1,252$905$647$243
28 years$2,191$1,610$1,164$829$584$210
29 years$2,093$1,519$1,083$760$527$181
30 years$2,001$1,434$1,009$698$477$156
31 years$1,915$1,356$940$641$431$135
32 years$1,835$1,283$877$589$390$117
33 years$1,760$1,215$819$542$353$101
34 years$1,690$1,152$765$498$319$87
35 years$1,624$1,092$716$459$289$75
36 years$1,561$1,037$669$423$262$65
37 years$1,502$985$627$389$238$56
38 years$1,447$936$587$359$215$49
39 years$1,394$890$550$331$195$42
40 years$1,344$847$515$305$177$36
41 years$1,297$806$483$282$161$31
42 years$1,252$768$453$260$146$27
43 years$1,209$731$425$240$132$23
44 years$1,168$697$399$221$120$20
45 years$1,129$665$375$205$109$18
46 years$1,092$634$352$189$99$15
47 years$1,057$605$331$175$90$13
48 years$1,023$578$311$161$82$11
49 years$991$552$292$149$74$10
50 years$960$527$275$138$67$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $983,000, adding $6,512 every year, while hoping to spend $36,042 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: 51/30/19 Blend
66$983,000$983,000$983,000$983,000
67$1,089,983$1,037,884$1,022,648$1,139,536
68$1,162,813$1,050,392$1,018,558$1,186,894
69$1,241,864$1,062,305$1,013,123$1,234,092
70$1,327,731$1,073,555$1,006,260$1,284,636
71$1,421,072$1,084,072$997,882$1,338,854
72$1,522,608$1,093,778$987,898$1,397,110
73$1,633,133$1,102,592$976,212$1,459,806
74$1,753,521$1,110,428$962,723$1,527,387
75$1,884,734$1,117,192$947,328$1,600,343
76$2,027,829$1,122,787$929,916$1,679,216
77$2,183,972$1,127,108$910,372$1,764,607
78$2,354,444$1,130,044$888,577$1,857,177
79$2,540,658$1,131,476$864,405$1,957,657
80$2,744,166$1,131,279$837,724$2,066,856
81$2,966,680$1,129,321$808,396$2,185,666
82$3,210,082$1,125,458$776,278$2,315,072
83$3,476,446$1,119,541$741,219$2,456,164
84$3,768,056$1,111,411$703,062$2,610,144
85$4,087,426$1,100,899$661,643$2,778,340
86$4,437,325$1,087,825$616,790$2,962,218
87$4,820,803$1,071,999$568,323$3,163,397
88$5,241,218$1,053,219$516,055$3,383,664
89$5,702,269$1,031,274$459,790$3,624,993
90$6,208,030$1,005,936$399,322$3,889,563
91$6,762,990$976,967$334,440$4,179,779
92$7,372,089$944,114$264,918$4,498,295
93$8,040,774$907,107$190,525$4,848,041
94$8,775,042$865,664$111,017$5,232,251
95$9,581,500$819,486$26,139$5,654,495
96$10,467,426$768,253$0$6,118,711
97$11,440,837$711,631$0$6,642,309
98$12,510,568$649,266$0$7,223,526
99$13,686,347$580,782$0$7,862,408
100$14,978,897$505,782$0$8,564,855