Can I retire at age 66 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$73,495$72,841$72,202$71,579$70,970$69,114
2 years$36,384$35,706$35,050$34,413$33,795$31,938
3 years$24,015$23,334$22,679$22,049$21,441$19,641
4 years$17,832$17,153$16,505$15,885$15,292$13,562
5 years$14,123$13,448$12,808$12,201$11,625$9,971
6 years$11,651$10,982$10,351$9,757$9,198$7,621
7 years$9,886$9,222$8,602$8,022$7,481$5,981
8 years$8,563$7,905$7,295$6,729$6,206$4,783
9 years$7,534$6,883$6,283$5,732$5,226$3,878
10 years$6,712$6,067$5,478$4,941$4,453$3,179
11 years$6,040$5,401$4,823$4,300$3,830$2,627
12 years$5,480$4,848$4,280$3,772$3,319$2,185
13 years$5,006$4,381$3,824$3,330$2,894$1,828
14 years$4,601$3,982$3,436$2,956$2,537$1,535
15 years$4,250$3,638$3,102$2,636$2,234$1,294
16 years$3,943$3,338$2,812$2,360$1,974$1,094
17 years$3,673$3,074$2,559$2,121$1,750$928
18 years$3,432$2,840$2,336$1,911$1,556$788
19 years$3,218$2,632$2,139$1,727$1,387$670
20 years$3,025$2,446$1,963$1,564$1,239$571
21 years$2,851$2,278$1,805$1,420$1,109$487
22 years$2,692$2,127$1,664$1,291$994$416
23 years$2,548$1,989$1,536$1,175$892$356
24 years$2,416$1,864$1,421$1,072$802$304
25 years$2,295$1,749$1,316$979$722$260
26 years$2,183$1,644$1,221$895$650$223
27 years$2,079$1,547$1,133$819$586$191
28 years$1,984$1,458$1,054$751$529$164
29 years$1,895$1,375$980$688$477$140
30 years$1,812$1,299$913$632$431$120
31 years$1,734$1,228$851$580$390$103
32 years$1,662$1,162$794$533$353$89
33 years$1,594$1,100$742$490$319$76
34 years$1,530$1,043$693$451$289$65
35 years$1,470$989$648$415$262$56
36 years$1,414$939$606$383$237$48
37 years$1,360$892$567$352$215$41
38 years$1,310$847$531$325$195$35
39 years$1,262$806$498$300$177$30
40 years$1,217$767$467$276$160$26
41 years$1,174$730$437$255$145$22
42 years$1,133$695$410$235$132$19
43 years$1,094$662$385$217$120$17
44 years$1,057$631$361$201$109$14
45 years$1,022$602$339$185$99$12
46 years$989$574$319$171$90$10
47 years$957$548$299$158$81$9
48 years$926$523$281$146$74$8
49 years$897$499$265$135$67$7
50 years$869$477$249$125$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $890,000, adding $2,849 every year, while hoping to spend $36,652 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: 23/47/30 Blend
65$890,000$890,000$890,000$890,000
66$983,719$936,549$922,754$997,014
67$1,045,061$943,442$914,669$1,015,824
68$1,111,431$949,445$905,084$1,032,704
69$1,183,304$954,475$893,911$1,050,008
70$1,261,201$958,444$881,057$1,067,797
71$1,345,695$961,260$866,425$1,086,141
72$1,437,417$962,822$849,911$1,105,118
73$1,537,060$963,027$831,410$1,124,819
74$1,645,388$961,763$810,809$1,145,349
75$1,763,238$958,910$787,992$1,166,824
76$1,891,534$954,343$762,836$1,189,380
77$2,031,293$947,928$735,213$1,213,168
78$2,183,633$939,524$704,990$1,238,361
79$2,349,783$928,980$672,027$1,265,152
80$2,531,098$916,137$636,177$1,293,762
81$2,729,068$900,827$597,288$1,324,437
82$2,945,336$882,870$555,199$1,357,457
83$3,181,706$862,077$509,745$1,393,133
84$3,440,169$838,247$460,750$1,431,817
85$3,722,914$811,169$408,032$1,473,904
86$4,032,352$780,616$351,402$1,519,834
87$4,371,138$746,353$290,660$1,570,102
88$4,742,196$708,126$225,599$1,625,261
89$5,148,746$665,670$156,003$1,685,927
90$5,594,333$618,703$81,644$1,752,793
91$6,082,864$566,929$2,288$1,826,626
92$6,618,639$510,031$0$1,908,287
93$7,206,395$447,678$0$2,025,109
94$7,851,351$379,518$0$2,154,277
95$8,559,255$305,180$0$2,296,332
96$9,336,438$224,273$0$2,452,685
97$10,189,873$136,381$0$2,624,898
98$11,127,245$41,068$0$2,814,702
99$12,157,015$0$0$3,024,014
100$13,288,508$0$0$3,287,089