Can I retire at age 65 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$79,441$78,733$78,043$77,369$76,711$75,009
2 years$39,327$38,595$37,885$37,197$36,529$34,823
3 years$25,958$25,222$24,514$23,832$23,176$21,519
4 years$19,274$18,541$17,840$17,170$16,529$14,935
5 years$15,265$14,536$13,845$13,188$12,565$11,037
6 years$12,593$11,870$11,188$10,547$9,942$8,483
7 years$10,686$9,968$9,298$8,671$8,086$6,695
8 years$9,256$8,545$7,885$7,274$6,708$5,385
9 years$8,144$7,440$6,791$6,196$5,649$4,393
10 years$7,255$6,558$5,921$5,341$4,813$3,623
11 years$6,528$5,838$5,213$4,648$4,140$3,013
12 years$5,923$5,240$4,626$4,077$3,587$2,523
13 years$5,411$4,735$4,133$3,599$3,128$2,125
14 years$4,973$4,304$3,714$3,195$2,742$1,797
15 years$4,594$3,932$3,353$2,849$2,414$1,526
16 years$4,262$3,608$3,040$2,551$2,134$1,299
17 years$3,970$3,322$2,766$2,292$1,892$1,109
18 years$3,710$3,070$2,525$2,066$1,682$949
19 years$3,478$2,845$2,312$1,867$1,499$813
20 years$3,270$2,644$2,122$1,691$1,339$698
21 years$3,081$2,463$1,951$1,534$1,199$600
22 years$2,910$2,299$1,799$1,395$1,074$517
23 years$2,754$2,150$1,661$1,271$964$445
24 years$2,611$2,015$1,536$1,159$867$384
25 years$2,480$1,891$1,422$1,058$780$331
26 years$2,359$1,777$1,319$968$703$286
27 years$2,248$1,672$1,225$886$633$247
28 years$2,144$1,576$1,139$812$572$213
29 years$2,048$1,486$1,060$744$516$184
30 years$1,958$1,404$987$683$466$159
31 years$1,875$1,327$920$627$422$138
32 years$1,796$1,256$859$576$381$119
33 years$1,723$1,189$802$530$345$103
34 years$1,654$1,127$749$488$312$89
35 years$1,589$1,069$700$449$283$77
36 years$1,528$1,015$655$414$256$67
37 years$1,470$964$613$381$232$58
38 years$1,416$916$574$351$211$50
39 years$1,364$871$538$324$191$43
40 years$1,315$829$504$299$173$38
41 years$1,269$789$473$276$157$33
42 years$1,225$751$444$254$143$28
43 years$1,183$716$416$235$129$24
44 years$1,143$682$391$217$118$21
45 years$1,105$651$367$200$107$18
46 years$1,069$621$345$185$97$16
47 years$1,034$592$324$171$88$14
48 years$1,001$565$304$158$80$12
49 years$969$540$286$146$73$10
50 years$939$516$269$135$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $962,000, adding $3,634 every year, while hoping to spend $59,100 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: 35/41/24 Blend
64$962,000$962,000$962,000$962,000
65$1,063,872$1,012,886$997,975$1,093,267
66$1,109,506$999,636$968,526$1,102,117
67$1,157,812$983,755$936,109$1,106,004
68$1,209,003$965,054$900,562$1,109,019
69$1,263,308$943,328$861,718$1,111,119
70$1,320,978$918,363$819,398$1,112,268
71$1,382,288$889,933$773,418$1,112,426
72$1,447,539$857,797$723,585$1,111,558
73$1,517,059$821,701$669,696$1,109,633
74$1,591,210$781,374$611,541$1,106,622
75$1,670,385$736,533$548,899$1,102,498
76$1,755,017$686,877$481,541$1,097,243
77$1,845,581$632,086$409,224$1,090,844
78$1,942,596$571,824$331,699$1,083,293
79$2,046,633$505,735$248,704$1,074,593
80$2,158,317$433,444$159,963$1,064,756
81$2,278,335$354,553$65,192$1,053,805
82$2,407,442$268,642$0$1,041,776
83$2,546,463$175,268$0$1,037,926
84$2,696,309$73,962$0$1,051,533
85$2,857,977$0$0$1,066,057
86$3,032,565$0$0$1,097,833
87$3,221,277$0$0$1,168,357
88$3,425,439$0$0$1,244,768
89$3,646,507$0$0$1,327,627
90$3,886,082$0$0$1,417,547
91$4,145,923$0$0$1,515,207
92$4,427,967$0$0$1,621,349
93$4,734,343$0$0$1,736,793
94$5,067,394$0$0$1,862,439
95$5,429,695$0$0$1,999,279
96$5,824,081$0$0$2,148,403
97$6,253,673$0$0$2,311,011
98$6,721,903$0$0$2,488,425
99$7,232,548$0$0$2,682,098
100$7,789,767$0$0$2,893,631