Can I retire at age 45 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$80,102$79,388$78,692$78,013$77,349$76,894
2 years$39,654$38,916$38,200$37,506$36,833$36,374
3 years$26,174$25,432$24,718$24,030$23,368$22,919
4 years$19,435$18,695$17,988$17,313$16,666$16,231
5 years$15,392$14,657$13,960$13,298$12,670$12,249
6 years$12,698$11,969$11,282$10,634$10,025$9,620
7 years$10,775$10,051$9,375$8,743$8,153$7,764
8 years$9,333$8,616$7,951$7,334$6,764$6,390
9 years$8,212$7,502$6,848$6,247$5,696$5,338
10 years$7,315$6,612$5,970$5,385$4,853$4,511
11 years$6,583$5,887$5,256$4,687$4,174$3,846
12 years$5,972$5,283$4,665$4,111$3,617$3,304
13 years$5,456$4,775$4,168$3,629$3,154$2,856
14 years$5,015$4,340$3,745$3,222$2,765$2,481
15 years$4,632$3,965$3,381$2,873$2,434$2,165
16 years$4,297$3,638$3,065$2,573$2,152$1,895
17 years$4,003$3,350$2,789$2,311$1,908$1,664
18 years$3,741$3,096$2,546$2,083$1,696$1,466
19 years$3,507$2,869$2,331$1,882$1,512$1,293
20 years$3,297$2,666$2,139$1,705$1,350$1,144
21 years$3,107$2,483$1,968$1,547$1,209$1,013
22 years$2,934$2,318$1,814$1,407$1,083$899
23 years$2,777$2,168$1,674$1,281$972$799
24 years$2,633$2,031$1,549$1,168$874$710
25 years$2,501$1,906$1,434$1,067$786$632
26 years$2,379$1,792$1,330$976$708$563
27 years$2,266$1,686$1,235$893$639$502
28 years$2,162$1,589$1,148$818$576$448
29 years$2,065$1,499$1,069$750$520$400
30 years$1,975$1,415$995$689$470$358
31 years$1,890$1,338$928$632$425$320
32 years$1,811$1,266$866$581$385$286
33 years$1,737$1,199$808$535$348$256
34 years$1,668$1,136$755$492$315$229
35 years$1,602$1,078$706$453$285$205
36 years$1,541$1,023$661$417$259$184
37 years$1,482$972$618$384$234$164
38 years$1,427$923$579$354$212$147
39 years$1,375$878$542$326$193$132
40 years$1,326$835$508$301$175$118
41 years$1,279$795$477$278$159$106
42 years$1,235$757$447$256$144$95
43 years$1,193$722$420$237$131$85
44 years$1,152$688$394$219$119$76
45 years$1,114$656$370$202$108$69
46 years$1,078$626$347$186$98$62
47 years$1,043$597$326$172$89$55
48 years$1,009$570$307$159$81$50
49 years$978$544$288$147$73$44
50 years$947$520$271$136$66$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 45 starting with $970,000, adding $2,705 every year, while hoping to spend $57,011 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: 31/41/28 Blend
44$970,000$970,000$970,000$970,000
45$1,071,730$1,020,320$1,005,285$1,095,693
46$1,120,387$1,009,657$978,303$1,103,797
47$1,172,097$996,560$948,506$1,107,323
48$1,227,110$980,850$915,740$1,109,999
49$1,285,701$962,338$879,843$1,111,789
50$1,348,171$940,821$840,647$1,112,662
51$1,414,851$916,087$797,974$1,112,586
52$1,486,100$887,910$751,641$1,111,536
53$1,562,315$856,051$701,454$1,109,488
54$1,643,930$820,256$647,211$1,106,422
55$1,731,421$780,258$588,703$1,102,327
56$1,825,310$735,775$525,709$1,097,194
57$1,926,170$686,507$457,998$1,091,026
58$2,034,630$632,136$385,332$1,083,830
59$2,151,381$572,329$307,459$1,075,626
60$2,277,180$506,732$224,118$1,066,447
61$2,412,862$434,972$135,035$1,056,336
62$2,559,341$356,652$39,926$1,045,355
63$2,717,622$271,356$0$1,033,580
64$2,888,810$178,643$0$1,039,507
65$3,074,120$78,048$0$1,058,786
66$3,274,887$0$0$1,079,719
67$3,492,580$0$0$1,116,535
68$3,728,812$0$0$1,194,824
69$3,985,360$0$0$1,279,977
70$4,264,176$0$0$1,372,659
71$4,567,410$0$0$1,473,601
72$4,897,424$0$0$1,583,609
73$5,256,819$0$0$1,703,568
74$5,648,459$0$0$1,834,454
75$6,075,493$0$0$1,977,339
76$6,541,387$0$0$2,133,405
77$7,049,957$0$0$2,303,953
78$7,605,404$0$0$2,490,415
79$8,212,351$0$0$2,694,367
80$8,875,890$0$0$2,917,544
81$9,601,625$0$0$3,161,858
82$10,395,728$0$0$3,429,415
83$11,264,993$0$0$3,722,531
84$12,216,903$0$0$4,043,759
85$13,259,699$0$0$4,395,911
86$14,402,456$0$0$4,782,083
87$15,655,167$0$0$5,205,685
88$17,028,840$0$0$5,670,472
89$18,535,598$0$0$6,180,583
90$20,188,795$0$0$6,740,574
91$22,003,138$0$0$7,355,466
92$23,994,830$0$0$8,030,789
93$26,181,717$0$0$8,772,634
94$28,583,458$0$0$9,587,712
95$31,221,709$0$0$10,483,417
96$34,120,328$0$0$11,467,893
97$37,305,598$0$0$12,550,113
98$40,806,472$0$0$13,739,964
99$44,654,850$0$0$15,048,336
100$48,885,875$0$0$16,487,230