Can I retire at age 67 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$81,671$80,943$80,233$79,541$78,864$77,399
2 years$40,431$39,678$38,948$38,241$37,554$36,083
3 years$26,686$25,930$25,202$24,501$23,826$22,395
4 years$19,815$19,061$18,341$17,652$16,993$15,614
5 years$15,694$14,944$14,233$13,558$12,918$11,594
6 years$12,947$12,203$11,502$10,843$10,221$8,954
7 years$10,986$10,248$9,559$8,914$8,313$7,103
8 years$9,515$8,785$8,106$7,478$6,896$5,743
9 years$8,373$7,649$6,982$6,370$5,808$4,710
10 years$7,459$6,742$6,087$5,491$4,948$3,906
11 years$6,712$6,002$5,359$4,779$4,256$3,268
12 years$6,089$5,387$4,756$4,191$3,688$2,752
13 years$5,563$4,868$4,249$3,700$3,216$2,331
14 years$5,113$4,425$3,818$3,285$2,819$1,984
15 years$4,723$4,042$3,447$2,929$2,482$1,695
16 years$4,382$3,709$3,125$2,623$2,194$1,452
17 years$4,081$3,416$2,844$2,357$1,945$1,248
18 years$3,814$3,156$2,596$2,124$1,730$1,075
19 years$3,576$2,925$2,377$1,919$1,542$927
20 years$3,361$2,718$2,181$1,738$1,377$802
21 years$3,168$2,532$2,006$1,577$1,232$694
22 years$2,992$2,363$1,849$1,434$1,104$601
23 years$2,831$2,210$1,707$1,306$991$522
24 years$2,685$2,071$1,579$1,191$891$453
25 years$2,550$1,944$1,462$1,088$802$393
26 years$2,426$1,827$1,356$995$722$342
27 years$2,311$1,719$1,259$911$651$298
28 years$2,204$1,620$1,171$834$588$259
29 years$2,105$1,528$1,090$765$531$226
30 years$2,013$1,443$1,015$702$479$197
31 years$1,927$1,364$946$645$433$171
32 years$1,847$1,291$883$593$392$149
33 years$1,771$1,223$824$545$355$130
34 years$1,700$1,159$770$501$321$114
35 years$1,634$1,099$720$462$291$99
36 years$1,571$1,043$674$425$264$86
37 years$1,511$991$630$392$239$75
38 years$1,455$942$590$361$217$66
39 years$1,402$895$553$333$196$57
40 years$1,352$852$518$307$178$50
41 years$1,304$811$486$283$162$44
42 years$1,259$772$456$261$147$38
43 years$1,216$736$428$241$133$33
44 years$1,175$701$402$223$121$29
45 years$1,136$669$377$206$110$25
46 years$1,099$638$354$190$100$22
47 years$1,063$609$333$176$90$19
48 years$1,029$581$313$162$82$17
49 years$997$555$294$150$75$15
50 years$966$530$276$139$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $989,000, adding $6,462 every year, while hoping to spend $55,854 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: 47/25/28 Blend
66$989,000$989,000$989,000$989,000
67$1,096,544$1,044,127$1,028,797$1,139,016
68$1,148,963$1,035,861$1,003,834$1,161,372
69$1,204,857$1,025,317$976,162$1,179,679
70$1,264,521$1,012,327$945,632$1,198,475
71$1,328,279$996,708$912,088$1,217,833
72$1,396,486$978,269$875,365$1,237,841
73$1,469,531$956,808$835,293$1,258,597
74$1,547,841$932,108$791,693$1,280,214
75$1,631,883$903,944$744,377$1,302,821
76$1,722,171$872,074$693,150$1,326,565
77$1,819,270$836,243$637,808$1,351,612
78$1,923,798$796,182$578,137$1,378,150
79$2,036,436$751,605$513,915$1,406,392
80$2,157,929$702,210$444,908$1,436,578
81$2,289,099$647,679$370,873$1,468,981
82$2,430,846$587,675$291,557$1,503,903
83$2,584,162$521,840$206,693$1,541,690
84$2,750,135$449,799$116,006$1,582,726
85$2,929,963$371,153$19,206$1,627,443
86$3,124,961$285,482$0$1,676,325
87$3,336,578$192,341$0$1,755,041
88$3,566,405$91,262$0$1,846,828
89$3,816,194$0$0$1,946,718
90$4,087,870$0$0$2,060,593
91$4,383,554$0$0$2,211,954
92$4,705,578$0$0$2,376,902
93$5,056,507$0$0$2,556,762
94$5,439,166$0$0$2,752,997
95$5,856,664$0$0$2,967,215
96$6,312,421$0$0$3,201,185
97$6,810,205$0$0$3,456,857
98$7,354,161$0$0$3,736,375
99$7,948,854$0$0$4,042,102
100$8,599,309$0$0$4,376,639