Can I retire at age 65 with 966,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$79,771$79,061$78,368$77,691$77,030$74,268
2 years$39,491$38,755$38,043$37,351$36,681$33,928
3 years$26,066$25,327$24,616$23,931$23,272$20,614
4 years$19,354$18,618$17,914$17,241$16,598$14,056
5 years$15,329$14,597$13,902$13,243$12,617$10,198
6 years$12,646$11,919$11,235$10,590$9,984$7,689
7 years$10,730$10,010$9,336$8,707$8,119$5,949
8 years$9,294$8,580$7,918$7,304$6,736$4,688
9 years$8,178$7,471$6,820$6,221$5,673$3,744
10 years$7,285$6,585$5,946$5,363$4,833$3,021
11 years$6,555$5,862$5,234$4,667$4,157$2,456
12 years$5,948$5,262$4,645$4,094$3,602$2,010
13 years$5,434$4,755$4,150$3,614$3,141$1,653
14 years$4,994$4,322$3,729$3,208$2,754$1,365
15 years$4,613$3,948$3,367$2,861$2,424$1,130
16 years$4,280$3,623$3,053$2,562$2,143$939
17 years$3,986$3,336$2,778$2,302$1,900$781
18 years$3,725$3,083$2,536$2,075$1,689$651
19 years$3,493$2,857$2,321$1,874$1,506$544
20 years$3,283$2,655$2,130$1,698$1,345$454
21 years$3,094$2,473$1,960$1,541$1,204$380
22 years$2,922$2,308$1,806$1,401$1,079$318
23 years$2,766$2,159$1,668$1,276$968$267
24 years$2,622$2,023$1,542$1,164$870$224
25 years$2,490$1,898$1,428$1,063$783$188
26 years$2,369$1,784$1,325$972$706$158
27 years$2,257$1,679$1,230$889$636$132
28 years$2,153$1,582$1,144$815$574$111
29 years$2,056$1,493$1,064$747$518$93
30 years$1,966$1,410$991$686$468$78
31 years$1,882$1,333$924$630$423$66
32 years$1,804$1,261$862$579$383$55
33 years$1,730$1,194$805$532$347$47
34 years$1,661$1,132$752$490$314$39
35 years$1,596$1,073$703$451$284$33
36 years$1,534$1,019$658$415$258$28
37 years$1,476$968$616$383$233$23
38 years$1,422$920$577$353$212$20
39 years$1,370$874$540$325$192$16
40 years$1,321$832$506$300$174$14
41 years$1,274$792$475$277$158$12
42 years$1,230$754$445$255$143$10
43 years$1,188$719$418$236$130$8
44 years$1,148$685$392$218$118$7
45 years$1,110$653$368$201$107$6
46 years$1,073$623$346$186$97$5
47 years$1,038$595$325$172$88$4
48 years$1,005$568$305$159$80$3
49 years$974$542$287$146$73$3
50 years$943$518$270$135$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $966,000, adding $6,831 every year, while hoping to spend $32,062 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: 69/8/23 Blend
64$966,000$966,000$966,000$966,000
65$1,071,578$1,020,380$1,005,407$1,138,849
66$1,146,765$1,036,265$1,004,975$1,200,626
67$1,228,547$1,051,854$1,003,453$1,263,846
68$1,317,562$1,067,098$1,000,772$1,332,264
69$1,414,514$1,081,946$996,858$1,406,393
70$1,520,174$1,096,341$991,633$1,486,798
71$1,635,396$1,110,226$985,017$1,574,103
72$1,761,116$1,123,537$976,924$1,668,994
73$1,898,365$1,136,205$967,266$1,772,229
74$2,048,278$1,148,158$955,949$1,884,642
75$2,212,104$1,159,321$942,876$2,007,155
76$2,391,221$1,169,609$927,944$2,140,782
77$2,587,142$1,178,937$911,047$2,286,643
78$2,801,536$1,187,210$892,072$2,445,971
79$3,036,239$1,194,329$870,903$2,620,128
80$3,293,273$1,200,189$847,416$2,810,612
81$3,574,866$1,204,678$821,483$3,019,078
82$3,883,470$1,207,675$792,971$3,247,349
83$4,221,787$1,209,054$761,738$3,497,435
84$4,592,791$1,208,680$727,639$3,771,551
85$4,999,760$1,206,409$690,519$4,072,142
86$5,446,303$1,202,091$650,218$4,401,901
87$5,936,395$1,195,562$606,570$4,763,798
88$6,474,415$1,186,653$559,398$5,161,106
89$7,065,188$1,175,181$508,520$5,597,435
90$7,714,026$1,160,954$453,744$6,076,765
91$8,426,784$1,143,767$394,872$6,603,480
92$9,209,909$1,123,406$331,694$7,182,418
93$10,070,507$1,099,640$263,992$7,818,909
94$11,016,403$1,072,226$191,540$8,518,831
95$12,056,220$1,040,909$114,100$9,288,660
96$13,199,456$1,005,415$31,425$10,135,540
97$14,456,578$965,458$0$11,067,342
98$15,839,116$920,732$0$12,106,685
99$17,359,773$870,916$0$13,258,331
100$19,032,548$815,668$0$14,525,173