Can I retire at age 65 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$81,506$80,780$80,071$79,380$78,705$76,246
2 years$40,349$39,598$38,870$38,163$37,478$35,024
3 years$26,632$25,878$25,151$24,452$23,778$21,404
4 years$19,775$19,023$18,304$17,616$16,959$14,683
5 years$15,662$14,914$14,204$13,531$12,892$10,721
6 years$12,921$12,178$11,479$10,821$10,201$8,137
7 years$10,963$10,227$9,539$8,896$8,296$6,338
8 years$9,496$8,767$8,090$7,463$6,882$5,030
9 years$8,356$7,633$6,968$6,357$5,796$4,047
10 years$7,444$6,728$6,075$5,480$4,938$3,290
11 years$6,698$5,990$5,348$4,769$4,247$2,696
12 years$6,077$5,376$4,746$4,183$3,680$2,224
13 years$5,552$4,858$4,241$3,693$3,209$1,844
14 years$5,102$4,416$3,810$3,278$2,813$1,535
15 years$4,713$4,034$3,440$2,924$2,477$1,282
16 years$4,373$3,701$3,119$2,618$2,189$1,074
17 years$4,073$3,409$2,838$2,352$1,941$902
18 years$3,806$3,150$2,591$2,120$1,726$759
19 years$3,568$2,919$2,372$1,915$1,538$639
20 years$3,355$2,713$2,177$1,735$1,374$539
21 years$3,161$2,527$2,002$1,574$1,230$455
22 years$2,986$2,359$1,845$1,431$1,102$385
23 years$2,826$2,206$1,704$1,304$989$326
24 years$2,679$2,067$1,576$1,189$889$276
25 years$2,545$1,940$1,459$1,086$800$233
26 years$2,421$1,823$1,354$993$721$198
27 years$2,306$1,716$1,257$909$650$168
28 years$2,200$1,617$1,168$833$586$142
29 years$2,101$1,525$1,087$764$530$121
30 years$2,009$1,440$1,013$701$478$102
31 years$1,923$1,362$944$644$433$87
32 years$1,843$1,288$881$591$391$74
33 years$1,768$1,220$823$544$354$63
34 years$1,697$1,156$769$500$321$53
35 years$1,630$1,097$719$461$290$45
36 years$1,568$1,041$672$424$263$38
37 years$1,508$989$629$391$238$33
38 years$1,452$940$589$360$216$28
39 years$1,400$893$552$332$196$23
40 years$1,349$850$517$306$178$20
41 years$1,302$809$485$283$161$17
42 years$1,257$771$455$261$146$14
43 years$1,214$734$427$241$133$12
44 years$1,173$700$401$222$121$10
45 years$1,134$667$376$205$109$9
46 years$1,097$637$354$190$99$7
47 years$1,061$608$332$175$90$6
48 years$1,027$580$312$162$82$5
49 years$995$554$293$150$74$5
50 years$964$529$276$138$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $987,000, adding $5,424 every year, while hoping to spend $21,974 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: 34/40/26 Blend
64$987,000$987,000$987,000$987,000
65$1,093,269$1,040,958$1,025,659$1,121,664
66$1,181,402$1,068,585$1,036,639$1,171,054
67$1,277,788$1,096,829$1,047,250$1,221,917
68$1,383,247$1,125,697$1,057,456$1,276,333
69$1,498,678$1,155,196$1,067,221$1,334,634
70$1,625,075$1,185,333$1,076,505$1,397,183
71$1,763,530$1,216,112$1,085,266$1,464,382
72$1,915,249$1,247,539$1,093,460$1,536,670
73$2,081,555$1,279,620$1,101,042$1,614,536
74$2,263,909$1,312,357$1,107,963$1,698,515
75$2,463,920$1,345,755$1,114,171$1,789,196
76$2,683,358$1,379,815$1,119,615$1,887,231
77$2,924,175$1,414,540$1,124,236$1,993,336
78$3,188,519$1,449,931$1,127,976$2,108,300
79$3,478,758$1,485,987$1,130,773$2,232,995
80$3,797,499$1,522,708$1,132,561$2,368,379
81$4,147,614$1,560,091$1,133,273$2,515,509
82$4,532,269$1,598,134$1,132,835$2,675,550
83$4,954,948$1,636,830$1,131,173$2,849,787
84$5,419,493$1,676,175$1,128,208$3,039,633
85$5,930,135$1,716,161$1,123,856$3,246,651
86$6,491,535$1,756,779$1,118,031$3,472,557
87$7,108,827$1,798,017$1,110,642$3,719,249
88$7,787,671$1,839,864$1,101,592$3,988,814
89$8,534,301$1,882,304$1,090,782$4,283,556
90$9,355,583$1,925,321$1,078,107$4,606,013
91$10,259,086$1,968,895$1,063,457$4,958,982
92$11,253,147$2,013,005$1,046,717$5,345,548
93$12,346,952$2,057,627$1,027,766$5,769,110
94$13,550,625$2,102,734$1,006,480$6,233,416
95$14,875,317$2,148,296$982,725$6,742,597
96$16,333,317$2,194,280$956,364$7,301,206
97$17,938,165$2,240,650$927,253$7,914,262
98$19,704,782$2,287,366$895,240$8,587,300
99$21,649,608$2,334,384$860,168$9,326,416
100$23,790,755$2,381,657$821,871$10,138,336