Check how much you can save in the future.
The chart "Probability of Sufficient Savings" shows the outcome of your
savings distribution of all ages. In this example, you have a high chance
(80.5% probability) of saving more than $1 million at 50, the year set for
retirement. In later years, you may see a red area showing the likelihood of
deficiency, meaning running out of savings. The black area shows the
probability of not being alive. If the red area is not significantly large
compared to the other area, it can give you peace of mind in financials that
you can probably retire comfortably.
Based on the age you scroll to, you can further check the
distributon of simulation results:
- Expected total savings: the average (mean) of the total
savings from the simulation results.
- 10th-percentile total savings: 10% probability that total
savings will be lower than this number.
- Median total savings: the middle number of total savings from
the simulation results.
- 90th-percentile total savings: 10% probability that total
savings will be higher than this number.
Note: This statistical result is generated from Monte Carlo simulation.
Even though your inputs are the same, you may see slightly different
distributions each time you use this calculator due to the random seed's
variation at the time and in the browser you're using. If you want to be a
financial nerd and know more about Monte Carlo Simulation,
you can check
The Monte Carlo Simulation: Understanding the Basics