Can I retire at age 67 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$78,202$77,506$76,826$76,163$75,515$72,749
2 years$38,714$37,993$37,294$36,617$35,960$33,204
3 years$25,553$24,829$24,132$23,461$22,814$20,155
4 years$18,974$18,252$17,562$16,902$16,271$13,729
5 years$15,027$14,310$13,629$12,982$12,369$9,951
6 years$12,397$11,685$11,014$10,382$9,787$7,494
7 years$10,519$9,813$9,153$8,536$7,960$5,791
8 years$9,111$8,412$7,762$7,160$6,603$4,558
9 years$8,017$7,324$6,686$6,099$5,561$3,636
10 years$7,142$6,456$5,829$5,257$4,738$2,930
11 years$6,427$5,747$5,131$4,576$4,075$2,379
12 years$5,831$5,158$4,554$4,013$3,531$1,944
13 years$5,327$4,661$4,069$3,543$3,079$1,597
14 years$4,896$4,237$3,656$3,145$2,699$1,316
15 years$4,522$3,871$3,301$2,805$2,377$1,089
16 years$4,196$3,551$2,993$2,512$2,101$903
17 years$3,908$3,271$2,723$2,257$1,863$750
18 years$3,652$3,022$2,486$2,034$1,656$625
19 years$3,424$2,801$2,276$1,838$1,476$521
20 years$3,219$2,603$2,088$1,664$1,318$435
21 years$3,033$2,424$1,921$1,510$1,180$363
22 years$2,865$2,263$1,771$1,373$1,058$304
23 years$2,711$2,117$1,635$1,251$949$254
24 years$2,571$1,983$1,512$1,141$853$213
25 years$2,442$1,861$1,400$1,042$768$178
26 years$2,323$1,749$1,299$953$692$149
27 years$2,213$1,646$1,206$872$624$125
28 years$2,111$1,551$1,121$799$563$105
29 years$2,016$1,463$1,043$733$508$88
30 years$1,928$1,382$972$672$459$74
31 years$1,845$1,306$906$617$415$62
32 years$1,768$1,236$845$567$375$52
33 years$1,696$1,171$789$522$340$44
34 years$1,628$1,109$737$480$308$37
35 years$1,564$1,052$689$442$279$31
36 years$1,504$999$645$407$252$26
37 years$1,447$949$604$375$229$22
38 years$1,394$902$565$346$207$18
39 years$1,343$857$530$319$188$15
40 years$1,295$816$496$294$171$13
41 years$1,249$776$465$271$155$11
42 years$1,206$739$437$250$140$9
43 years$1,164$705$410$231$127$8
44 years$1,125$672$385$213$116$6
45 years$1,088$640$361$197$105$5
46 years$1,052$611$339$182$95$4
47 years$1,018$583$319$168$87$4
48 years$985$557$299$155$79$3
49 years$954$531$281$144$71$3
50 years$925$508$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $947,000, adding $2,420 every year, while hoping to spend $47,106 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: 64/28/8 Blend
66$947,000$947,000$947,000$947,000
67$1,046,090$995,899$981,221$1,111,225
68$1,102,671$994,578$963,971$1,153,614
69$1,163,444$991,613$944,565$1,194,130
70$1,228,788$986,874$922,880$1,237,164
71$1,299,117$980,224$898,789$1,282,957
72$1,374,886$971,514$872,158$1,331,777
73$1,456,597$960,591$842,848$1,383,921
74$1,544,799$947,288$810,712$1,439,714
75$1,640,095$931,433$775,598$1,499,520
76$1,743,150$912,838$737,346$1,563,738
77$1,854,694$891,310$695,789$1,632,814
78$1,975,527$866,639$650,753$1,707,236
79$2,106,533$838,606$602,055$1,787,547
80$2,248,681$806,979$549,506$1,874,349
81$2,403,037$771,512$492,905$1,968,303
82$2,570,775$731,944$432,045$2,070,144
83$2,753,185$688,000$366,709$2,180,684
84$2,951,687$639,389$296,671$2,300,820
85$3,167,842$585,802$221,693$2,431,543
86$3,403,371$526,915$141,529$2,573,951
87$3,660,164$462,384$55,919$2,729,255
88$3,940,305$391,844$0$2,898,796
89$4,246,084$314,912$0$3,087,078
90$4,580,024$231,183$0$3,298,003
91$4,944,903$140,227$0$3,528,626
92$5,343,777$41,592$0$3,780,970
93$5,780,013$0$0$4,057,268
94$6,257,317$0$0$4,380,076
95$6,779,770$0$0$4,747,509
96$7,351,865$0$0$5,149,922
97$7,978,552$0$0$5,590,803
98$8,665,280$0$0$6,073,995
99$9,418,052$0$0$6,603,729
100$10,243,476$0$0$7,184,668