Can I retire at age 45 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%15.8%
1 years$81,588$80,861$80,152$79,460$78,785$76,911
2 years$40,390$39,638$38,909$38,202$37,516$35,640
3 years$26,659$25,904$25,177$24,476$23,802$21,981
4 years$19,795$19,042$18,322$17,634$16,976$15,225
5 years$15,678$14,929$14,219$13,545$12,905$11,228
6 years$12,934$12,191$11,491$10,832$10,211$8,610
7 years$10,975$10,238$9,549$8,905$8,304$6,780
8 years$9,506$8,776$8,098$7,470$6,889$5,441
9 years$8,364$7,641$6,975$6,363$5,802$4,428
10 years$7,451$6,735$6,081$5,485$4,943$3,643
11 years$6,705$5,996$5,354$4,774$4,251$3,022
12 years$6,083$5,382$4,751$4,187$3,684$2,524
13 years$5,558$4,863$4,245$3,697$3,213$2,120
14 years$5,108$4,421$3,814$3,281$2,816$1,788
15 years$4,718$4,038$3,444$2,926$2,480$1,514
16 years$4,377$3,705$3,122$2,620$2,192$1,285
17 years$4,077$3,412$2,841$2,354$1,943$1,094
18 years$3,810$3,153$2,593$2,122$1,728$933
19 years$3,572$2,922$2,374$1,917$1,540$798
20 years$3,358$2,715$2,179$1,736$1,376$683
21 years$3,164$2,529$2,004$1,576$1,231$585
22 years$2,989$2,361$1,847$1,433$1,103$502
23 years$2,829$2,208$1,706$1,305$990$431
24 years$2,682$2,069$1,577$1,190$890$370
25 years$2,547$1,942$1,461$1,087$801$319
26 years$2,423$1,825$1,355$994$722$274
27 years$2,308$1,717$1,258$910$651$236
28 years$2,202$1,618$1,170$833$587$203
29 years$2,103$1,527$1,088$764$530$175
30 years$2,011$1,442$1,014$701$479$151
31 years$1,925$1,363$945$644$433$130
32 years$1,845$1,290$882$592$392$112
33 years$1,769$1,221$823$544$354$97
34 years$1,699$1,158$769$501$321$83
35 years$1,632$1,098$719$461$291$72
36 years$1,569$1,042$673$425$263$62
37 years$1,510$990$630$391$239$54
38 years$1,454$941$590$361$216$46
39 years$1,401$894$553$333$196$40
40 years$1,351$851$518$307$178$34
41 years$1,303$810$486$283$161$30
42 years$1,258$771$456$261$147$26
43 years$1,215$735$427$241$133$22
44 years$1,174$701$401$223$121$19
45 years$1,135$668$377$206$110$17
46 years$1,098$637$354$190$100$14
47 years$1,062$608$332$175$90$12
48 years$1,028$581$312$162$82$11
49 years$996$554$294$150$75$9
50 years$965$530$276$138$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 45 starting with $988,000, adding $6,208 every year, while hoping to spend $37,283 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: 73/8/19 Blend
44$988,000$988,000$988,000$988,000
45$1,095,180$1,042,816$1,027,502$1,169,764
46$1,167,219$1,054,245$1,022,254$1,231,550
47$1,245,357$1,064,984$1,015,581$1,294,106
48$1,330,176$1,074,961$1,007,396$1,361,678
49$1,422,317$1,084,097$997,607$1,434,759
50$1,522,485$1,092,310$986,118$1,513,890
51$1,631,456$1,099,510$972,830$1,599,667
52$1,750,082$1,105,604$957,638$1,692,749
53$1,879,304$1,110,492$940,432$1,793,862
54$2,020,153$1,114,066$921,097$1,903,804
55$2,173,767$1,116,214$899,512$2,023,458
56$2,341,398$1,116,816$875,553$2,153,797
57$2,524,424$1,115,742$849,087$2,295,891
58$2,724,361$1,112,859$819,977$2,450,923
59$2,942,878$1,108,022$788,078$2,620,195
60$3,181,814$1,101,077$753,241$2,805,144
61$3,443,192$1,091,863$715,308$3,007,354
62$3,729,241$1,080,208$674,114$3,228,571
63$4,042,415$1,065,930$629,489$3,470,719
64$4,385,416$1,048,834$581,250$3,735,922
65$4,761,218$1,028,717$529,213$4,026,519
66$5,173,101$1,005,362$473,179$4,345,089
67$5,624,671$978,539$412,945$4,694,478
68$6,119,905$948,005$348,296$5,077,820
69$6,663,181$913,503$279,009$5,498,572
70$7,259,320$874,760$204,852$5,960,545
71$7,913,636$831,488$125,579$6,467,941
72$8,631,979$783,383$40,938$7,025,391
73$9,420,793$730,121$0$7,638,002
74$10,287,180$671,363$0$8,321,414
75$11,238,961$606,749$0$9,081,329
76$12,284,752$535,896$0$9,916,337
77$13,434,044$458,403$0$10,834,040
78$14,697,297$373,845$0$11,842,815
79$16,086,030$281,772$0$12,951,892
80$17,612,937$181,710$0$14,171,442
81$19,292,001$73,159$0$15,512,673
82$21,138,630$0$0$16,987,932
83$23,169,799$0$0$18,614,740
84$25,404,211$0$0$20,411,465
85$27,862,471$0$0$22,388,243
86$30,567,286$0$0$24,563,339
87$33,543,672$0$0$26,956,878
88$36,819,192$0$0$29,591,031
89$40,424,219$0$0$32,490,232
90$44,392,216$0$0$35,681,400
91$48,760,058$0$0$39,194,198
92$53,568,375$0$0$43,061,310
93$58,861,936$0$0$47,318,750
94$64,690,072$0$0$52,006,203
95$71,107,141$0$0$57,167,396
96$78,173,040$0$0$62,850,512
97$85,953,769$0$0$69,108,645
98$94,522,055$0$0$76,000,300
99$103,958,038$0$0$83,589,945
100$114,350,025$0$0$91,948,619