Can I retire at age 66 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$73,413$72,759$72,121$71,498$70,890$69,402
2 years$36,343$35,666$35,010$34,374$33,757$32,265
3 years$23,988$23,308$22,654$22,024$21,417$19,967
4 years$17,812$17,134$16,486$15,867$15,275$13,879
5 years$14,107$13,433$12,794$12,187$11,612$10,273
6 years$11,638$10,969$10,339$9,746$9,188$7,908
7 years$9,875$9,212$8,592$8,013$7,472$6,252
8 years$8,553$7,896$7,287$6,722$6,199$5,037
9 years$7,526$6,875$6,276$5,726$5,220$4,117
10 years$6,705$6,060$5,472$4,935$4,448$3,402
11 years$6,033$5,395$4,817$4,295$3,825$2,835
12 years$5,474$4,842$4,275$3,768$3,315$2,378
13 years$5,001$4,376$3,820$3,326$2,891$2,007
14 years$4,596$3,978$3,432$2,953$2,534$1,701
15 years$4,245$3,634$3,099$2,633$2,231$1,447
16 years$3,939$3,334$2,809$2,358$1,972$1,235
17 years$3,668$3,070$2,556$2,118$1,748$1,056
18 years$3,429$2,837$2,334$1,909$1,555$906
19 years$3,214$2,629$2,136$1,725$1,386$778
20 years$3,021$2,443$1,961$1,562$1,238$669
21 years$2,847$2,276$1,803$1,418$1,108$577
22 years$2,689$2,124$1,662$1,289$993$498
23 years$2,545$1,987$1,535$1,174$891$430
24 years$2,413$1,862$1,419$1,071$801$371
25 years$2,292$1,747$1,315$978$721$321
26 years$2,180$1,642$1,219$894$649$278
27 years$2,077$1,545$1,132$819$585$241
28 years$1,981$1,456$1,052$750$528$208
29 years$1,892$1,374$979$688$477$181
30 years$1,810$1,297$912$631$431$157
31 years$1,732$1,226$850$580$390$136
32 years$1,660$1,160$793$533$352$118
33 years$1,592$1,099$741$490$319$102
34 years$1,528$1,042$692$451$289$89
35 years$1,468$988$647$415$262$77
36 years$1,412$938$605$382$237$67
37 years$1,359$891$567$352$215$58
38 years$1,308$846$531$325$195$50
39 years$1,261$805$497$299$177$44
40 years$1,215$766$466$276$160$38
41 years$1,173$729$437$255$145$33
42 years$1,132$694$410$235$132$29
43 years$1,093$661$385$217$120$25
44 years$1,056$630$361$200$109$22
45 years$1,021$601$339$185$99$19
46 years$988$573$318$171$90$16
47 years$956$547$299$158$81$14
48 years$925$522$281$146$74$12
49 years$896$499$264$135$67$11
50 years$868$477$248$125$61$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $889,000, adding $3,275 every year, while hoping to spend $47,943 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: 42/37/21 Blend
65$889,000$889,000$889,000$889,000
66$983,056$935,939$922,160$1,018,175
67$1,032,317$930,789$902,041$1,038,308
68$1,084,995$923,780$879,642$1,055,217
69$1,141,390$914,770$854,834$1,072,550
70$1,201,826$903,609$827,486$1,090,372
71$1,266,664$890,137$797,459$1,108,755
72$1,336,296$874,186$764,606$1,127,786
73$1,411,155$855,577$728,776$1,147,563
74$1,491,713$834,121$689,811$1,168,195
75$1,578,492$809,617$647,544$1,189,812
76$1,672,063$781,853$601,801$1,212,556
77$1,773,054$750,605$552,402$1,236,593
78$1,882,155$715,634$499,157$1,262,109
79$2,000,124$676,689$441,868$1,289,315
80$2,127,795$633,505$380,329$1,318,447
81$2,266,083$585,800$314,323$1,349,775
82$2,415,996$533,277$243,625$1,383,599
83$2,578,642$475,621$168,001$1,420,261
84$2,755,238$412,502$87,203$1,460,142
85$2,947,124$343,567$977$1,503,670
86$3,155,775$268,445$0$1,551,326
87$3,382,812$186,747$0$1,624,047
88$3,630,018$98,057$0$1,703,596
89$3,899,358$1,940$0$1,790,491
90$4,192,991$0$0$1,885,555
91$4,513,296$0$0$2,031,253
92$4,862,889$0$0$2,191,242
93$5,244,652$0$0$2,366,063
94$5,661,756$0$0$2,557,182
95$6,117,692$0$0$2,766,213
96$6,616,304$0$0$2,994,934
97$7,161,824$0$0$3,245,301
98$7,758,914$0$0$3,519,470
99$8,412,704$0$0$3,819,812
100$9,128,845$0$0$4,148,943