Can I retire at age 67 with 985,000?

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 $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%15.7%
1 years$81,340$80,616$79,909$79,219$78,545$76,709
2 years$40,268$39,518$38,791$38,086$37,403$35,563
3 years$26,578$25,825$25,100$24,402$23,730$21,944
4 years$19,735$18,984$18,267$17,580$16,924$15,207
5 years$15,630$14,884$14,176$13,503$12,866$11,221
6 years$12,895$12,154$11,456$10,799$10,180$8,610
7 years$10,941$10,207$9,520$8,878$8,279$6,783
8 years$9,477$8,749$8,074$7,448$6,868$5,446
9 years$8,339$7,618$6,954$6,344$5,784$4,435
10 years$7,429$6,715$6,063$5,468$4,928$3,651
11 years$6,684$5,978$5,337$4,759$4,239$3,031
12 years$6,065$5,365$4,737$4,174$3,673$2,533
13 years$5,541$4,849$4,232$3,685$3,203$2,129
14 years$5,092$4,407$3,802$3,271$2,808$1,797
15 years$4,704$4,026$3,433$2,918$2,472$1,522
16 years$4,364$3,694$3,113$2,612$2,185$1,293
17 years$4,065$3,402$2,832$2,347$1,937$1,102
18 years$3,799$3,143$2,586$2,115$1,723$941
19 years$3,561$2,913$2,367$1,911$1,535$804
20 years$3,348$2,707$2,172$1,731$1,371$689
21 years$3,155$2,522$1,998$1,571$1,227$591
22 years$2,980$2,354$1,842$1,428$1,100$507
23 years$2,820$2,202$1,700$1,301$987$436
24 years$2,674$2,063$1,573$1,187$888$375
25 years$2,539$1,936$1,456$1,084$799$323
26 years$2,416$1,819$1,351$991$719$278
27 years$2,301$1,712$1,254$907$649$239
28 years$2,195$1,613$1,166$831$585$206
29 years$2,097$1,522$1,085$762$528$178
30 years$2,005$1,437$1,011$699$477$154
31 years$1,919$1,359$942$642$432$132
32 years$1,839$1,286$879$590$391$114
33 years$1,764$1,218$821$543$353$99
34 years$1,693$1,154$767$499$320$85
35 years$1,627$1,095$717$460$290$74
36 years$1,564$1,039$671$423$263$64
37 years$1,505$987$628$390$238$55
38 years$1,450$938$588$360$216$47
39 years$1,397$892$551$332$196$41
40 years$1,347$848$516$306$177$35
41 years$1,299$808$484$282$161$31
42 years$1,254$769$454$260$146$26
43 years$1,211$733$426$240$133$23
44 years$1,170$698$400$222$120$20
45 years$1,131$666$376$205$109$17
46 years$1,094$635$353$189$99$15
47 years$1,059$606$331$175$90$13
48 years$1,025$579$311$162$82$11
49 years$993$553$293$149$74$10
50 years$962$528$275$138$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $985,000, adding $3,771 every year, while hoping to spend $43,456 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: 21/49/30 Blend
66$985,000$985,000$985,000$985,000
67$1,089,360$1,037,155$1,021,887$1,101,828
68$1,154,238$1,041,739$1,009,884$1,118,257
69$1,224,277$1,045,090$996,021$1,131,971
70$1,299,957$1,047,104$980,193$1,145,696
71$1,381,807$1,047,667$962,284$1,159,461
72$1,470,408$1,046,659$942,176$1,173,301
73$1,566,397$1,043,953$919,747$1,187,261
74$1,670,476$1,039,413$894,865$1,201,393
75$1,783,417$1,032,896$867,395$1,215,760
76$1,906,068$1,024,251$837,195$1,230,438
77$2,039,363$1,013,315$804,118$1,245,511
78$2,184,329$999,918$768,006$1,261,084
79$2,342,095$983,879$728,699$1,277,273
80$2,513,905$965,005$686,026$1,294,214
81$2,701,126$943,093$639,811$1,312,066
82$2,905,264$917,928$589,868$1,331,009
83$3,127,976$889,281$536,003$1,351,248
84$3,371,085$856,911$478,015$1,373,019
85$3,636,599$820,563$415,692$1,396,591
86$3,926,727$779,967$348,813$1,422,266
87$4,243,904$734,835$277,149$1,450,391
88$4,590,807$684,867$200,458$1,481,355
89$4,970,386$629,742$118,490$1,515,599
90$5,385,888$569,123$30,983$1,553,618
91$5,840,891$502,652$0$1,595,974
92$6,339,331$429,951$0$1,663,269
93$6,885,546$350,622$0$1,748,118
94$7,484,312$264,243$0$1,841,480
95$8,140,891$170,370$0$1,944,343
96$8,861,076$68,532$0$2,057,806
97$9,651,249$0$0$2,183,090
98$10,518,439$0$0$2,344,071
99$11,470,390$0$0$2,561,533
100$12,515,630$0$0$2,800,495