Can I retire at age 67 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$81,588$80,861$80,152$79,460$78,785$78,354
2 years$40,390$39,638$38,909$38,202$37,516$37,082
3 years$26,659$25,904$25,177$24,476$23,802$23,377
4 years$19,795$19,042$18,322$17,634$16,976$16,563
5 years$15,678$14,929$14,219$13,545$12,905$12,506
6 years$12,934$12,191$11,491$10,832$10,211$9,827
7 years$10,975$10,238$9,549$8,905$8,304$7,935
8 years$9,506$8,776$8,098$7,470$6,889$6,535
9 years$8,364$7,641$6,975$6,363$5,802$5,462
10 years$7,451$6,735$6,081$5,485$4,943$4,618
11 years$6,705$5,996$5,354$4,774$4,251$3,941
12 years$6,083$5,382$4,751$4,187$3,684$3,388
13 years$5,558$4,863$4,245$3,697$3,213$2,930
14 years$5,108$4,421$3,814$3,281$2,816$2,547
15 years$4,718$4,038$3,444$2,926$2,480$2,223
16 years$4,377$3,705$3,122$2,620$2,192$1,948
17 years$4,077$3,412$2,841$2,354$1,943$1,712
18 years$3,810$3,153$2,593$2,122$1,728$1,509
19 years$3,572$2,922$2,374$1,917$1,540$1,332
20 years$3,358$2,715$2,179$1,736$1,376$1,179
21 years$3,164$2,529$2,004$1,576$1,231$1,045
22 years$2,989$2,361$1,847$1,433$1,103$928
23 years$2,829$2,208$1,706$1,305$990$825
24 years$2,682$2,069$1,577$1,190$890$734
25 years$2,547$1,942$1,461$1,087$801$654
26 years$2,423$1,825$1,355$994$722$583
27 years$2,308$1,717$1,258$910$651$521
28 years$2,202$1,618$1,170$833$587$465
29 years$2,103$1,527$1,088$764$530$416
30 years$2,011$1,442$1,014$701$479$372
31 years$1,925$1,363$945$644$433$333
32 years$1,845$1,290$882$592$392$298
33 years$1,769$1,221$823$544$354$266
34 years$1,699$1,158$769$501$321$239
35 years$1,632$1,098$719$461$291$214
36 years$1,569$1,042$673$425$263$192
37 years$1,510$990$630$391$239$172
38 years$1,454$941$590$361$216$154
39 years$1,401$894$553$333$196$138
40 years$1,351$851$518$307$178$124
41 years$1,303$810$486$283$161$111
42 years$1,258$771$456$261$147$100
43 years$1,215$735$427$241$133$90
44 years$1,174$701$401$223$121$80
45 years$1,135$668$377$206$110$72
46 years$1,098$637$354$190$100$65
47 years$1,062$608$332$175$90$58
48 years$1,028$581$312$162$82$52
49 years$996$554$294$150$75$47
50 years$965$530$276$138$68$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $988,000, adding $2,071 every year, while hoping to spend $55,120 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: 47/45/8 Blend
66$988,000$988,000$988,000$988,000
67$1,090,912$1,038,548$1,023,234$1,139,720
68$1,143,538$1,030,790$998,865$1,165,717
69$1,199,684$1,020,804$971,833$1,187,982
70$1,259,652$1,008,423$941,989$1,210,868
71$1,323,771$993,470$909,180$1,234,450
72$1,392,402$975,757$873,244$1,258,811
73$1,465,942$955,084$834,013$1,284,050
74$1,544,826$931,241$791,310$1,310,279
75$1,629,531$904,005$744,952$1,337,623
76$1,720,581$873,138$694,745$1,366,226
77$1,818,550$838,392$640,489$1,396,252
78$1,924,069$799,501$581,973$1,427,886
79$2,037,833$756,185$518,978$1,461,336
80$2,160,602$708,148$451,273$1,496,838
81$2,293,213$655,077$378,621$1,534,658
82$2,436,586$596,640$300,769$1,575,096
83$2,591,731$532,489$217,458$1,618,488
84$2,759,758$462,252$128,414$1,665,213
85$2,941,891$385,540$33,353$1,715,695
86$3,139,471$301,938$0$1,770,411
87$3,353,975$211,012$0$1,835,708
88$3,587,029$112,300$0$1,909,785
89$3,840,419$5,315$0$1,990,490
90$4,116,112$0$0$2,078,598
91$4,416,270$0$0$2,229,668
92$4,743,275$0$0$2,397,219
93$5,099,745$0$0$2,579,974
94$5,488,563$0$0$2,779,425
95$5,912,904$0$0$2,997,214
96$6,376,259$0$0$3,235,146
97$6,882,474$0$0$3,495,213
98$7,435,781$0$0$3,779,604
99$8,040,842$0$0$4,090,731
100$8,702,787$0$0$4,431,250