Can I retire at age 75 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%16.6%
1 years$81,588$80,861$80,152$79,460$78,785$76,662
2 years$40,390$39,638$38,909$38,202$37,516$35,393
3 years$26,659$25,904$25,177$24,476$23,802$21,745
4 years$19,795$19,042$18,322$17,634$16,976$15,000
5 years$15,678$14,929$14,219$13,545$12,905$11,016
6 years$12,934$12,191$11,491$10,832$10,211$8,411
7 years$10,975$10,238$9,549$8,905$8,304$6,593
8 years$9,506$8,776$8,098$7,470$6,889$5,266
9 years$8,364$7,641$6,975$6,363$5,802$4,265
10 years$7,451$6,735$6,081$5,485$4,943$3,491
11 years$6,705$5,996$5,354$4,774$4,251$2,882
12 years$6,083$5,382$4,751$4,187$3,684$2,394
13 years$5,558$4,863$4,245$3,697$3,213$2,000
14 years$5,108$4,421$3,814$3,281$2,816$1,678
15 years$4,718$4,038$3,444$2,926$2,480$1,412
16 years$4,377$3,705$3,122$2,620$2,192$1,192
17 years$4,077$3,412$2,841$2,354$1,943$1,009
18 years$3,810$3,153$2,593$2,122$1,728$856
19 years$3,572$2,922$2,374$1,917$1,540$727
20 years$3,358$2,715$2,179$1,736$1,376$618
21 years$3,164$2,529$2,004$1,576$1,231$527
22 years$2,989$2,361$1,847$1,433$1,103$449
23 years$2,829$2,208$1,706$1,305$990$383
24 years$2,682$2,069$1,577$1,190$890$327
25 years$2,547$1,942$1,461$1,087$801$280
26 years$2,423$1,825$1,355$994$722$239
27 years$2,308$1,717$1,258$910$651$205
28 years$2,202$1,618$1,170$833$587$175
29 years$2,103$1,527$1,088$764$530$150
30 years$2,011$1,442$1,014$701$479$128
31 years$1,925$1,363$945$644$433$110
32 years$1,845$1,290$882$592$392$94
33 years$1,769$1,221$823$544$354$81
34 years$1,699$1,158$769$501$321$69
35 years$1,632$1,098$719$461$291$59
36 years$1,569$1,042$673$425$263$51
37 years$1,510$990$630$391$239$43
38 years$1,454$941$590$361$216$37
39 years$1,401$894$553$333$196$32
40 years$1,351$851$518$307$178$27
41 years$1,303$810$486$283$161$23
42 years$1,258$771$456$261$147$20
43 years$1,215$735$427$241$133$17
44 years$1,174$701$401$223$121$15
45 years$1,135$668$377$206$110$13
46 years$1,098$637$354$190$100$11
47 years$1,062$608$332$175$90$9
48 years$1,028$581$312$162$82$8
49 years$996$554$294$150$75$7
50 years$965$530$276$138$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 75 starting with $988,000, adding $4,850 every year, while hoping to spend $24,852 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: 39/39/22 Blend
74$988,000$988,000$988,000$988,000
75$1,093,779$1,041,415$1,026,101$1,129,110
76$1,178,902$1,066,002$1,034,033$1,179,641
77$1,271,875$1,090,961$1,041,398$1,231,539
78$1,373,471$1,116,283$1,048,150$1,287,155
79$1,484,545$1,141,960$1,054,242$1,346,841
80$1,606,034$1,167,982$1,059,625$1,410,984
81$1,738,971$1,194,335$1,064,244$1,480,013
82$1,884,496$1,221,007$1,068,046$1,554,397
83$2,043,861$1,247,983$1,070,972$1,634,656
84$2,218,446$1,275,245$1,072,961$1,721,364
85$2,409,771$1,302,776$1,073,949$1,815,150
86$2,619,511$1,330,555$1,073,869$1,916,711
87$2,849,508$1,358,559$1,072,651$2,026,815
88$3,101,793$1,386,764$1,070,220$2,146,305
89$3,378,603$1,415,142$1,066,499$2,276,117
90$3,682,401$1,443,665$1,061,407$2,417,277
91$4,015,900$1,472,299$1,054,859$2,570,919
92$4,382,090$1,501,010$1,046,765$2,738,293
93$4,784,263$1,529,759$1,037,032$2,920,779
94$5,226,047$1,558,506$1,025,561$3,119,895
95$5,711,437$1,587,206$1,012,251$3,337,317
96$6,244,836$1,615,811$996,993$3,574,894
97$6,831,092$1,644,269$979,675$3,834,663
98$7,475,549$1,672,524$960,180$4,118,870
99$8,184,092$1,700,515$938,383$4,429,992
100$8,963,207$1,728,178$914,157$4,770,762