Can I retire at age 66 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$72,917$72,268$71,634$71,016$70,412$69,417
2 years$36,098$35,425$34,774$34,142$33,529$32,529
3 years$23,826$23,151$22,501$21,875$21,272$20,298
4 years$17,691$17,018$16,375$15,760$15,172$14,230
5 years$14,012$13,343$12,708$12,105$11,533$10,627
6 years$11,559$10,895$10,270$9,681$9,126$8,257
7 years$9,808$9,150$8,534$7,959$7,422$6,590
8 years$8,496$7,843$7,238$6,677$6,157$5,362
9 years$7,475$6,829$6,234$5,687$5,185$4,427
10 years$6,659$6,019$5,435$4,902$4,418$3,696
11 years$5,992$5,359$4,785$4,266$3,800$3,113
12 years$5,437$4,810$4,246$3,742$3,293$2,641
13 years$4,967$4,346$3,794$3,304$2,871$2,253
14 years$4,565$3,951$3,409$2,933$2,517$1,932
15 years$4,216$3,609$3,078$2,615$2,216$1,663
16 years$3,912$3,311$2,790$2,342$1,959$1,436
17 years$3,644$3,050$2,539$2,104$1,737$1,243
18 years$3,405$2,818$2,318$1,896$1,544$1,079
19 years$3,192$2,612$2,122$1,713$1,376$939
20 years$3,001$2,427$1,947$1,552$1,229$818
21 years$2,828$2,261$1,791$1,408$1,100$714
22 years$2,671$2,110$1,651$1,281$986$624
23 years$2,528$1,974$1,524$1,166$885$546
24 years$2,397$1,849$1,410$1,064$796$478
25 years$2,277$1,735$1,306$971$716$419
26 years$2,166$1,631$1,211$888$645$368
27 years$2,063$1,535$1,124$813$581$323
28 years$1,968$1,446$1,045$745$525$283
29 years$1,880$1,364$973$683$474$249
30 years$1,797$1,289$906$627$428$219
31 years$1,721$1,218$845$576$387$193
32 years$1,649$1,153$788$529$350$169
33 years$1,581$1,092$736$487$317$149
34 years$1,518$1,034$688$448$287$131
35 years$1,459$981$643$412$260$115
36 years$1,402$931$601$380$235$102
37 years$1,349$885$563$350$213$90
38 years$1,299$841$527$322$193$79
39 years$1,252$799$494$297$175$69
40 years$1,207$761$463$274$159$61
41 years$1,165$724$434$253$144$54
42 years$1,124$689$407$233$131$48
43 years$1,086$657$382$215$119$42
44 years$1,049$626$359$199$108$37
45 years$1,014$597$337$184$98$33
46 years$981$570$316$170$89$29
47 years$949$544$297$157$81$25
48 years$919$519$279$145$73$22
49 years$890$496$262$134$67$20
50 years$862$473$247$124$60$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $883,000, adding $6,382 every year, while hoping to spend $37,398 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: 49/23/28 Blend
65$883,000$883,000$883,000$883,000
66$979,649$932,850$919,164$1,019,582
67$1,039,782$938,769$910,164$1,054,152
68$1,104,795$943,724$899,610$1,087,488
69$1,175,147$947,628$887,410$1,122,979
70$1,251,341$950,391$873,467$1,160,848
71$1,333,931$951,914$857,681$1,201,341
72$1,423,526$952,092$839,948$1,244,733
73$1,520,796$950,815$820,156$1,291,325
74$1,626,478$947,965$798,193$1,341,454
75$1,741,382$943,419$773,935$1,395,494
76$1,866,400$937,044$747,259$1,453,857
77$2,002,513$928,699$718,033$1,517,001
78$2,150,800$918,236$686,118$1,585,434
79$2,312,450$905,497$651,370$1,659,717
80$2,488,769$890,316$613,641$1,740,473
81$2,681,197$872,515$572,771$1,828,391
82$2,891,318$851,907$528,597$1,924,234
83$3,120,875$828,293$480,948$2,028,845
84$3,371,788$801,463$429,644$2,143,159
85$3,646,170$771,195$374,497$2,268,209
86$3,946,349$737,253$315,312$2,405,138
87$4,274,887$699,389$251,886$2,555,212
88$4,634,605$657,339$184,003$2,719,828
89$5,028,611$610,824$111,443$2,900,532
90$5,460,325$559,550$33,972$3,099,035
91$5,933,515$503,206$0$3,317,225
92$6,452,333$441,462$0$3,571,742
93$7,021,349$373,971$0$3,862,120
94$7,645,597$300,366$0$4,180,829
95$8,330,622$220,258$0$4,530,768
96$9,082,533$133,238$0$4,915,136
97$9,908,058$38,873$0$5,337,461
98$10,814,608$0$0$5,801,635
99$11,810,348$0$0$6,327,968
100$12,904,272$0$0$6,917,110