Can I retire at age 67 with 985,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$81,340$80,616$79,909$79,219$78,545$76,991
2 years$40,268$39,518$38,791$38,086$37,403$35,843
3 years$26,578$25,825$25,100$24,402$23,730$22,214
4 years$19,735$18,984$18,267$17,580$16,924$15,464
5 years$15,630$14,884$14,176$13,503$12,866$11,464
6 years$12,895$12,154$11,456$10,799$10,180$8,840
7 years$10,941$10,207$9,520$8,878$8,279$7,000
8 years$9,477$8,749$8,074$7,448$6,868$5,650
9 years$8,339$7,618$6,954$6,344$5,784$4,626
10 years$7,429$6,715$6,063$5,468$4,928$3,829
11 years$6,684$5,978$5,337$4,759$4,239$3,197
12 years$6,065$5,365$4,737$4,174$3,673$2,688
13 years$5,541$4,849$4,232$3,685$3,203$2,272
14 years$5,092$4,407$3,802$3,271$2,808$1,930
15 years$4,704$4,026$3,433$2,918$2,472$1,645
16 years$4,364$3,694$3,113$2,612$2,185$1,407
17 years$4,065$3,402$2,832$2,347$1,937$1,206
18 years$3,799$3,143$2,586$2,115$1,723$1,036
19 years$3,561$2,913$2,367$1,911$1,535$892
20 years$3,348$2,707$2,172$1,731$1,371$770
21 years$3,155$2,522$1,998$1,571$1,227$665
22 years$2,980$2,354$1,842$1,428$1,100$575
23 years$2,820$2,202$1,700$1,301$987$497
24 years$2,674$2,063$1,573$1,187$888$431
25 years$2,539$1,936$1,456$1,084$799$373
26 years$2,416$1,819$1,351$991$719$324
27 years$2,301$1,712$1,254$907$649$281
28 years$2,195$1,613$1,166$831$585$244
29 years$2,097$1,522$1,085$762$528$212
30 years$2,005$1,437$1,011$699$477$184
31 years$1,919$1,359$942$642$432$160
32 years$1,839$1,286$879$590$391$139
33 years$1,764$1,218$821$543$353$121
34 years$1,693$1,154$767$499$320$105
35 years$1,627$1,095$717$460$290$92
36 years$1,564$1,039$671$423$263$80
37 years$1,505$987$628$390$238$69
38 years$1,450$938$588$360$216$60
39 years$1,397$892$551$332$196$53
40 years$1,347$848$516$306$177$46
41 years$1,299$808$484$282$161$40
42 years$1,254$769$454$260$146$35
43 years$1,211$733$426$240$133$30
44 years$1,170$698$400$222$120$26
45 years$1,131$666$376$205$109$23
46 years$1,094$635$353$189$99$20
47 years$1,059$606$331$175$90$17
48 years$1,025$579$311$162$82$15
49 years$993$553$293$149$74$13
50 years$962$528$275$138$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $985,000, adding $3,080 every year, while hoping to spend $35,948 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: 68/24/8 Blend
66$985,000$985,000$985,000$985,000
67$1,088,647$1,036,442$1,021,175$1,160,888
68$1,161,441$1,048,979$1,017,135$1,221,730
69$1,240,454$1,060,926$1,011,756$1,283,604
70$1,326,285$1,072,215$1,004,954$1,350,306
71$1,419,588$1,082,776$996,642$1,422,302
72$1,521,086$1,092,532$986,729$1,500,108
73$1,631,572$1,101,402$975,121$1,584,290
74$1,751,921$1,109,299$961,716$1,675,472
75$1,883,095$1,116,133$946,411$1,774,345
76$2,026,151$1,121,804$929,097$1,881,668
77$2,182,255$1,126,209$909,658$1,998,277
78$2,352,689$1,129,237$887,976$2,125,096
79$2,538,865$1,130,770$863,924$2,263,144
80$2,742,335$1,130,685$837,371$2,413,542
81$2,964,811$1,128,846$808,182$2,577,527
82$3,208,177$1,125,115$776,211$2,756,464
83$3,474,507$1,119,341$741,309$2,951,857
84$3,766,083$1,111,365$703,319$3,165,364
85$4,085,421$1,101,020$662,078$3,398,815
86$4,435,290$1,088,126$617,414$3,654,225
87$4,818,741$1,072,495$569,149$3,933,818
88$5,239,132$1,053,926$517,094$4,240,045
89$5,700,162$1,032,207$461,056$4,575,609
90$6,205,906$1,007,113$400,829$4,943,490
91$6,760,853$978,406$336,201$5,346,974
92$7,369,945$945,833$266,949$5,789,683
93$8,038,628$909,128$192,841$6,275,612
94$8,772,902$868,009$113,634$6,809,166
95$9,579,372$822,176$29,075$7,395,198
96$10,465,319$771,313$0$8,039,064
97$11,438,761$715,088$0$8,751,886
98$12,508,533$653,145$0$9,537,939
99$13,684,367$585,113$0$10,401,937
100$14,976,985$510,595$0$11,351,816