Can I retire at age 66 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$73,826$73,168$72,527$71,900$71,289$70,574
2 years$36,547$35,867$35,207$34,567$33,947$33,227
3 years$24,123$23,439$22,781$22,148$21,537$20,834
4 years$17,912$17,230$16,579$15,956$15,361$14,680
5 years$14,186$13,509$12,866$12,256$11,677$11,021
6 years$11,703$11,031$10,398$9,801$9,240$8,609
7 years$9,930$9,264$8,640$8,058$7,514$6,909
8 years$8,601$7,941$7,328$6,760$6,234$5,655
9 years$7,568$6,914$6,311$5,758$5,250$4,696
10 years$6,742$6,094$5,502$4,963$4,473$3,944
11 years$6,067$5,425$4,844$4,320$3,847$3,343
12 years$5,504$4,869$4,299$3,789$3,334$2,854
13 years$5,029$4,401$3,841$3,345$2,907$2,451
14 years$4,622$4,000$3,451$2,969$2,548$2,115
15 years$4,269$3,654$3,116$2,648$2,244$1,833
16 years$3,961$3,353$2,825$2,371$1,983$1,594
17 years$3,689$3,088$2,571$2,130$1,758$1,390
18 years$3,448$2,853$2,347$1,920$1,563$1,216
19 years$3,232$2,644$2,148$1,735$1,393$1,065
20 years$3,038$2,457$1,972$1,571$1,245$935
21 years$2,863$2,289$1,813$1,426$1,114$822
22 years$2,704$2,136$1,671$1,297$998$724
23 years$2,559$1,998$1,543$1,181$896$638
24 years$2,427$1,872$1,427$1,077$806$563
25 years$2,305$1,757$1,322$984$725$498
26 years$2,193$1,651$1,226$899$653$440
27 years$2,089$1,554$1,138$823$589$389
28 years$1,993$1,464$1,058$754$531$345
29 years$1,903$1,381$985$692$480$305
30 years$1,820$1,305$917$635$433$271
31 years$1,742$1,233$855$583$392$240
32 years$1,669$1,167$798$536$354$213
33 years$1,601$1,105$745$493$321$189
34 years$1,537$1,047$696$453$290$168
35 years$1,477$993$651$417$263$149
36 years$1,420$943$609$384$238$132
37 years$1,366$896$570$354$216$117
38 years$1,316$851$534$326$196$104
39 years$1,268$809$500$301$178$93
40 years$1,222$770$469$278$161$82
41 years$1,179$733$439$256$146$73
42 years$1,138$698$412$236$133$65
43 years$1,099$665$387$218$120$58
44 years$1,062$634$363$201$109$51
45 years$1,027$605$341$186$99$46
46 years$993$577$320$172$90$41
47 years$961$550$301$159$82$36
48 years$930$525$283$147$74$32
49 years$901$502$266$136$67$29
50 years$873$479$250$125$61$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $894,000, adding $2,654 every year, while hoping to spend $43,895 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: 48/27/25 Blend
65$894,000$894,000$894,000$894,000
66$987,926$940,544$926,687$1,028,203
67$1,041,990$939,926$911,027$1,056,069
68$1,100,098$937,808$893,371$1,081,747
69$1,162,615$934,068$873,606$1,108,758
70$1,229,944$928,579$851,614$1,137,245
71$1,302,526$921,207$827,271$1,167,374
72$1,380,845$911,808$800,446$1,199,327
73$1,465,436$900,230$771,005$1,233,307
74$1,556,882$886,314$738,806$1,269,543
75$1,655,828$869,887$703,700$1,308,287
76$1,762,981$850,770$665,532$1,349,824
77$1,879,119$828,771$624,141$1,394,468
78$2,005,097$803,689$579,358$1,442,572
79$2,141,855$775,308$531,004$1,494,526
80$2,290,428$743,402$478,897$1,550,766
81$2,451,953$707,731$422,842$1,611,775
82$2,627,684$668,040$362,638$1,678,093
83$2,818,996$624,063$298,075$1,750,318
84$3,027,405$575,514$228,932$1,829,113
85$3,254,580$522,093$154,981$1,915,218
86$3,502,356$463,484$75,981$2,009,451
87$3,772,752$399,351$0$2,112,722
88$4,067,994$329,340$0$2,228,261
89$4,390,528$253,077$0$2,376,739
90$4,743,050$170,166$0$2,539,180
91$5,128,527$80,190$0$2,717,034
92$5,550,226$0$0$2,911,904
93$6,011,744$0$0$3,130,699
94$6,517,042$0$0$3,396,429
95$7,070,481$0$0$3,687,575
96$7,676,865$0$0$4,006,677
97$8,341,484$0$0$4,356,530
98$9,070,163$0$0$4,740,215
99$9,869,320$0$0$5,161,125
100$10,746,022$0$0$5,622,996