Can I retire at age 67 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$81,671$80,943$80,233$79,541$78,864$78,008
2 years$40,431$39,678$38,948$38,241$37,554$36,692
3 years$26,686$25,930$25,202$24,501$23,826$22,985
4 years$19,815$19,061$18,341$17,652$16,993$16,179
5 years$15,694$14,944$14,233$13,558$12,918$12,134
6 years$12,947$12,203$11,502$10,843$10,221$9,468
7 years$10,986$10,248$9,559$8,914$8,313$7,590
8 years$9,515$8,785$8,106$7,478$6,896$6,205
9 years$8,373$7,649$6,982$6,370$5,808$5,147
10 years$7,459$6,742$6,087$5,491$4,948$4,318
11 years$6,712$6,002$5,359$4,779$4,256$3,655
12 years$6,089$5,387$4,756$4,191$3,688$3,116
13 years$5,563$4,868$4,249$3,700$3,216$2,673
14 years$5,113$4,425$3,818$3,285$2,819$2,304
15 years$4,723$4,042$3,447$2,929$2,482$1,994
16 years$4,382$3,709$3,125$2,623$2,194$1,731
17 years$4,081$3,416$2,844$2,357$1,945$1,508
18 years$3,814$3,156$2,596$2,124$1,730$1,316
19 years$3,576$2,925$2,377$1,919$1,542$1,152
20 years$3,361$2,718$2,181$1,738$1,377$1,010
21 years$3,168$2,532$2,006$1,577$1,232$887
22 years$2,992$2,363$1,849$1,434$1,104$779
23 years$2,831$2,210$1,707$1,306$991$686
24 years$2,685$2,071$1,579$1,191$891$605
25 years$2,550$1,944$1,462$1,088$802$533
26 years$2,426$1,827$1,356$995$722$471
27 years$2,311$1,719$1,259$911$651$416
28 years$2,204$1,620$1,171$834$588$368
29 years$2,105$1,528$1,090$765$531$325
30 years$2,013$1,443$1,015$702$479$288
31 years$1,927$1,364$946$645$433$255
32 years$1,847$1,291$883$593$392$225
33 years$1,771$1,223$824$545$355$200
34 years$1,700$1,159$770$501$321$177
35 years$1,634$1,099$720$462$291$157
36 years$1,571$1,043$674$425$264$139
37 years$1,511$991$630$392$239$123
38 years$1,455$942$590$361$217$109
39 years$1,402$895$553$333$196$97
40 years$1,352$852$518$307$178$86
41 years$1,304$811$486$283$162$76
42 years$1,259$772$456$261$147$68
43 years$1,216$736$428$241$133$60
44 years$1,175$701$402$223$121$53
45 years$1,136$669$377$206$110$47
46 years$1,099$638$354$190$100$42
47 years$1,063$609$333$176$90$37
48 years$1,029$581$313$162$82$33
49 years$997$555$294$150$75$29
50 years$966$530$276$139$68$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $989,000, adding $3,081 every year, while hoping to spend $57,083 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: 57/15/28 Blend
66$989,000$989,000$989,000$989,000
67$1,093,056$1,040,639$1,025,310$1,146,803
68$1,143,812$1,030,894$998,922$1,174,300
69$1,197,832$1,018,759$969,736$1,198,021
70$1,255,388$1,004,056$937,600$1,222,709
71$1,316,779$986,597$902,352$1,248,476
72$1,382,333$966,182$863,822$1,275,448
73$1,452,407$942,601$821,837$1,303,767
74$1,527,395$915,631$776,211$1,333,590
75$1,607,727$885,035$726,751$1,365,095
76$1,693,876$850,562$673,258$1,398,483
77$1,786,360$811,948$615,521$1,433,975
78$1,885,748$768,913$553,321$1,471,823
79$1,992,665$721,161$486,428$1,512,306
80$2,107,797$668,377$414,603$1,555,736
81$2,231,896$610,232$337,596$1,602,462
82$2,365,790$546,374$255,146$1,652,873
83$2,510,388$476,433$166,980$1,707,404
84$2,666,689$400,019$72,815$1,766,537
85$2,835,789$316,718$0$1,830,812
86$3,018,897$226,095$0$1,909,097
87$3,217,338$127,687$0$2,017,544
88$3,432,571$21,008$0$2,135,215
89$3,666,200$0$0$2,263,035
90$3,919,990$0$0$2,417,619
91$4,195,882$0$0$2,589,510
92$4,496,010$0$0$2,776,581
93$4,822,724$0$0$2,980,305
94$5,178,608$0$0$3,202,306
95$5,566,508$0$0$3,444,367
96$5,989,553$0$0$3,708,456
97$6,451,190$0$0$3,996,733
98$6,955,211$0$0$4,311,580
99$7,505,791$0$0$4,655,617
100$8,107,526$0$0$5,031,730