Can I retire at age 67 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$80,102$79,388$78,692$78,013$77,349$76,701
2 years$39,654$38,916$38,200$37,506$36,833$36,180
3 years$26,174$25,432$24,718$24,030$23,368$22,730
4 years$19,435$18,695$17,988$17,313$16,666$16,049
5 years$15,392$14,657$13,960$13,298$12,670$12,073
6 years$12,698$11,969$11,282$10,634$10,025$9,452
7 years$10,775$10,051$9,375$8,743$8,153$7,602
8 years$9,333$8,616$7,951$7,334$6,764$6,236
9 years$8,212$7,502$6,848$6,247$5,696$5,191
10 years$7,315$6,612$5,970$5,385$4,853$4,371
11 years$6,583$5,887$5,256$4,687$4,174$3,714
12 years$5,972$5,283$4,665$4,111$3,617$3,178
13 years$5,456$4,775$4,168$3,629$3,154$2,736
14 years$5,015$4,340$3,745$3,222$2,765$2,368
15 years$4,632$3,965$3,381$2,873$2,434$2,057
16 years$4,297$3,638$3,065$2,573$2,152$1,794
17 years$4,003$3,350$2,789$2,311$1,908$1,569
18 years$3,741$3,096$2,546$2,083$1,696$1,376
19 years$3,507$2,869$2,331$1,882$1,512$1,209
20 years$3,297$2,666$2,139$1,705$1,350$1,065
21 years$3,107$2,483$1,968$1,547$1,209$939
22 years$2,934$2,318$1,814$1,407$1,083$829
23 years$2,777$2,168$1,674$1,281$972$733
24 years$2,633$2,031$1,549$1,168$874$649
25 years$2,501$1,906$1,434$1,067$786$575
26 years$2,379$1,792$1,330$976$708$510
27 years$2,266$1,686$1,235$893$639$453
28 years$2,162$1,589$1,148$818$576$402
29 years$2,065$1,499$1,069$750$520$357
30 years$1,975$1,415$995$689$470$318
31 years$1,890$1,338$928$632$425$283
32 years$1,811$1,266$866$581$385$252
33 years$1,737$1,199$808$535$348$224
34 years$1,668$1,136$755$492$315$199
35 years$1,602$1,078$706$453$285$178
36 years$1,541$1,023$661$417$259$158
37 years$1,482$972$618$384$234$141
38 years$1,427$923$579$354$212$126
39 years$1,375$878$542$326$193$112
40 years$1,326$835$508$301$175$100
41 years$1,279$795$477$278$159$89
42 years$1,235$757$447$256$144$80
43 years$1,193$722$420$237$131$71
44 years$1,152$688$394$219$119$63
45 years$1,114$656$370$202$108$56
46 years$1,078$626$347$186$98$50
47 years$1,043$597$326$172$89$45
48 years$1,009$570$307$159$81$40
49 years$978$544$288$147$73$36
50 years$947$520$271$136$66$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $970,000, adding $5,977 every year, while hoping to spend $54,167 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: 59/15/26 Blend
66$970,000$970,000$970,000$970,000
67$1,075,105$1,023,695$1,008,660$1,130,657
68$1,127,133$1,016,223$984,817$1,161,766
69$1,182,652$1,006,569$958,360$1,189,373
70$1,241,961$994,570$929,143$1,218,339
71$1,305,388$980,051$897,017$1,248,808
72$1,373,292$962,828$861,821$1,280,942
73$1,446,067$942,706$823,392$1,314,923
74$1,524,145$919,478$781,555$1,350,953
75$1,608,000$892,925$736,129$1,389,256
76$1,698,153$862,815$686,927$1,430,085
77$1,795,175$828,903$633,749$1,473,718
78$1,899,694$790,930$576,390$1,520,469
79$2,012,397$748,620$514,634$1,570,683
80$2,134,043$701,684$448,255$1,624,748
81$2,265,462$649,813$377,019$1,683,091
82$2,407,570$592,684$300,679$1,746,191
83$2,561,370$529,954$218,980$1,814,578
84$2,727,966$461,258$131,652$1,888,841
85$2,908,574$386,215$38,418$1,969,635
86$3,104,527$304,418$0$2,057,685
87$3,317,295$215,441$0$2,170,742
88$3,548,493$118,832$0$2,305,231
89$3,799,898$14,113$0$2,451,562
90$4,073,463$0$0$2,610,926
91$4,371,341$0$0$2,801,014
92$4,695,897$0$0$3,010,738
93$5,049,736$0$0$3,239,460
94$5,435,725$0$0$3,489,043
95$5,857,018$0$0$3,761,537
96$6,317,090$0$0$4,059,199
97$6,819,762$0$0$4,384,513
98$7,369,244$0$0$4,740,214
99$7,970,170$0$0$5,129,314
100$8,627,642$0$0$5,555,128