Can I retire at age 66 with 890,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
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%15.5%
1 years$73,495$72,841$72,202$71,579$70,970$69,367
2 years$36,384$35,706$35,050$34,413$33,795$32,189
3 years$24,015$23,334$22,679$22,049$21,441$19,881
4 years$17,832$17,153$16,505$15,885$15,292$13,791
5 years$14,123$13,448$12,808$12,201$11,625$10,187
6 years$11,651$10,982$10,351$9,757$9,198$7,825
7 years$9,886$9,222$8,602$8,022$7,481$6,172
8 years$8,563$7,905$7,295$6,729$6,206$4,962
9 years$7,534$6,883$6,283$5,732$5,226$4,045
10 years$6,712$6,067$5,478$4,941$4,453$3,334
11 years$6,040$5,401$4,823$4,300$3,830$2,771
12 years$5,480$4,848$4,280$3,772$3,319$2,319
13 years$5,006$4,381$3,824$3,330$2,894$1,951
14 years$4,601$3,982$3,436$2,956$2,537$1,649
15 years$4,250$3,638$3,102$2,636$2,234$1,399
16 years$3,943$3,338$2,812$2,360$1,974$1,191
17 years$3,673$3,074$2,559$2,121$1,750$1,016
18 years$3,432$2,840$2,336$1,911$1,556$868
19 years$3,218$2,632$2,139$1,727$1,387$744
20 years$3,025$2,446$1,963$1,564$1,239$638
21 years$2,851$2,278$1,805$1,420$1,109$548
22 years$2,692$2,127$1,664$1,291$994$471
23 years$2,548$1,989$1,536$1,175$892$406
24 years$2,416$1,864$1,421$1,072$802$349
25 years$2,295$1,749$1,316$979$722$301
26 years$2,183$1,644$1,221$895$650$260
27 years$2,079$1,547$1,133$819$586$224
28 years$1,984$1,458$1,054$751$529$194
29 years$1,895$1,375$980$688$477$167
30 years$1,812$1,299$913$632$431$144
31 years$1,734$1,228$851$580$390$125
32 years$1,662$1,162$794$533$353$108
33 years$1,594$1,100$742$490$319$93
34 years$1,530$1,043$693$451$289$81
35 years$1,470$989$648$415$262$70
36 years$1,414$939$606$383$237$60
37 years$1,360$892$567$352$215$52
38 years$1,310$847$531$325$195$45
39 years$1,262$806$498$300$177$39
40 years$1,217$767$467$276$160$34
41 years$1,174$730$437$255$145$29
42 years$1,133$695$410$235$132$25
43 years$1,094$662$385$217$120$22
44 years$1,057$631$361$201$109$19
45 years$1,022$602$339$185$99$16
46 years$989$574$319$171$90$14
47 years$957$548$299$158$81$12
48 years$926$523$281$146$74$11
49 years$897$499$265$135$67$9
50 years$869$477$249$125$61$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $890,000, adding $6,041 every year, while hoping to spend $46,643 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: 28/47/25 Blend
65$890,000$890,000$890,000$890,000
66$987,011$939,841$926,046$1,006,816
67$1,038,059$936,266$907,441$1,019,346
68$1,092,750$930,952$886,649$1,028,324
69$1,151,406$923,765$863,548$1,037,007
70$1,214,383$914,562$838,010$1,045,404
71$1,282,067$903,193$809,901$1,053,523
72$1,354,886$889,497$779,080$1,061,383
73$1,433,307$873,305$745,402$1,069,004
74$1,517,843$854,436$708,712$1,076,419
75$1,609,060$832,700$668,851$1,083,666
76$1,707,577$807,896$625,650$1,090,793
77$1,814,077$779,809$578,936$1,097,862
78$1,929,308$748,215$528,526$1,104,943
79$2,054,093$712,874$474,228$1,112,125
80$2,189,339$673,533$415,842$1,119,511
81$2,336,040$629,924$353,161$1,127,222
82$2,495,291$581,766$285,967$1,135,400
83$2,668,296$528,758$214,033$1,144,212
84$2,856,381$470,585$137,122$1,153,848
85$3,061,001$406,914$54,985$1,164,531
86$3,283,761$337,390$0$1,176,513
87$3,526,424$261,642$0$1,198,801
88$3,790,932$179,275$0$1,239,232
89$4,079,422$89,874$0$1,283,576
90$4,394,244$0$0$1,332,342
91$4,737,988$0$0$1,389,720
92$5,113,504$0$0$1,503,313
93$5,523,927$0$0$1,627,607
94$5,972,712$0$0$1,763,663
95$6,463,662$0$0$1,912,653
96$7,000,963$0$0$2,075,867
97$7,589,226$0$0$2,254,724
98$8,233,528$0$0$2,450,789
99$8,939,461$0$0$2,665,785
100$9,713,181$0$0$2,901,608