Can I retire at age 65 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%13.6%
1 years$81,588$80,861$80,152$79,460$78,785$77,607
2 years$40,390$39,638$38,909$38,202$37,516$36,333
3 years$26,659$25,904$25,177$24,476$23,802$22,649
4 years$19,795$19,042$18,322$17,634$16,976$15,862
5 years$15,678$14,929$14,219$13,545$12,905$11,834
6 years$12,934$12,191$11,491$10,832$10,211$9,185
7 years$10,975$10,238$9,549$8,905$8,304$7,322
8 years$9,506$8,776$8,098$7,470$6,889$5,951
9 years$8,364$7,641$6,975$6,363$5,802$4,908
10 years$7,451$6,735$6,081$5,485$4,943$4,092
11 years$6,705$5,996$5,354$4,774$4,251$3,443
12 years$6,083$5,382$4,751$4,187$3,684$2,917
13 years$5,558$4,863$4,245$3,697$3,213$2,485
14 years$5,108$4,421$3,814$3,281$2,816$2,128
15 years$4,718$4,038$3,444$2,926$2,480$1,829
16 years$4,377$3,705$3,122$2,620$2,192$1,577
17 years$4,077$3,412$2,841$2,354$1,943$1,364
18 years$3,810$3,153$2,593$2,122$1,728$1,182
19 years$3,572$2,922$2,374$1,917$1,540$1,027
20 years$3,358$2,715$2,179$1,736$1,376$894
21 years$3,164$2,529$2,004$1,576$1,231$779
22 years$2,989$2,361$1,847$1,433$1,103$680
23 years$2,829$2,208$1,706$1,305$990$594
24 years$2,682$2,069$1,577$1,190$890$519
25 years$2,547$1,942$1,461$1,087$801$454
26 years$2,423$1,825$1,355$994$722$398
27 years$2,308$1,717$1,258$910$651$349
28 years$2,202$1,618$1,170$833$587$306
29 years$2,103$1,527$1,088$764$530$268
30 years$2,011$1,442$1,014$701$479$235
31 years$1,925$1,363$945$644$433$207
32 years$1,845$1,290$882$592$392$181
33 years$1,769$1,221$823$544$354$159
34 years$1,699$1,158$769$501$321$140
35 years$1,632$1,098$719$461$291$123
36 years$1,569$1,042$673$425$263$108
37 years$1,510$990$630$391$239$95
38 years$1,454$941$590$361$216$84
39 years$1,401$894$553$333$196$74
40 years$1,351$851$518$307$178$65
41 years$1,303$810$486$283$161$57
42 years$1,258$771$456$261$147$50
43 years$1,215$735$427$241$133$44
44 years$1,174$701$401$223$121$39
45 years$1,135$668$377$206$110$34
46 years$1,098$637$354$190$100$30
47 years$1,062$608$332$175$90$26
48 years$1,028$581$312$162$82$23
49 years$996$554$294$150$75$20
50 years$965$530$276$138$68$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $988,000, adding $6,589 every year, while hoping to spend $35,703 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: 52/29/19 Blend
64$988,000$988,000$988,000$988,000
65$1,095,573$1,043,209$1,027,895$1,146,504
66$1,169,333$1,056,338$1,024,341$1,195,365
67$1,249,421$1,068,914$1,019,472$1,244,216
68$1,336,443$1,080,872$1,013,206$1,296,581
69$1,431,069$1,092,143$1,005,457$1,352,806
70$1,534,032$1,102,653$996,134$1,413,272
71$1,646,144$1,112,324$985,145$1,478,400
72$1,768,294$1,121,070$972,390$1,548,656
73$1,901,461$1,128,804$957,767$1,624,553
74$2,046,725$1,135,430$941,167$1,706,661
75$2,205,272$1,140,848$922,477$1,795,605
76$2,378,409$1,144,949$901,580$1,892,080
77$2,567,574$1,147,619$878,350$1,996,851
78$2,774,351$1,148,736$852,659$2,110,761
79$3,000,484$1,148,173$824,372$2,234,746
80$3,247,891$1,145,791$793,346$2,369,835
81$3,518,686$1,141,445$759,433$2,517,166
82$3,815,196$1,134,981$722,479$2,677,995
83$4,139,986$1,126,234$682,321$2,853,711
84$4,495,876$1,115,032$638,791$3,045,844
85$4,885,977$1,101,189$591,711$3,256,085
86$5,313,710$1,084,511$540,897$3,486,301
87$5,782,847$1,064,791$486,156$3,738,550
88$6,297,541$1,041,809$427,286$4,015,108
89$6,862,366$1,015,334$364,076$4,318,484
90$7,482,362$985,119$296,307$4,651,447
91$8,163,078$950,905$223,748$5,017,053
92$8,910,629$912,416$146,161$5,418,677
93$9,731,750$869,362$63,294$5,860,040
94$10,633,860$821,432$0$6,345,248
95$11,625,135$768,303$0$6,883,930
96$12,714,578$709,629$0$7,490,015
97$13,912,110$645,046$0$8,156,229
98$15,228,660$574,169$0$8,888,719
99$16,676,271$496,590$0$9,694,262
100$18,268,208$411,880$0$10,580,327