Can I retire at age 66 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$74,073$73,414$72,770$72,142$71,528$69,349
2 years$36,670$35,987$35,325$34,683$34,061$31,885
3 years$24,204$23,518$22,858$22,222$21,610$19,504
4 years$17,972$17,288$16,635$16,010$15,412$13,393
5 years$14,234$13,554$12,909$12,297$11,716$9,790
6 years$11,743$11,068$10,432$9,834$9,271$7,438
7 years$9,964$9,295$8,669$8,085$7,539$5,801
8 years$8,630$7,967$7,352$6,782$6,255$4,609
9 years$7,594$6,937$6,333$5,777$5,267$3,712
10 years$6,765$6,115$5,521$4,980$4,488$3,022
11 years$6,087$5,444$4,861$4,334$3,860$2,480
12 years$5,523$4,886$4,314$3,802$3,345$2,048
13 years$5,046$4,415$3,854$3,356$2,917$1,700
14 years$4,637$4,013$3,463$2,979$2,557$1,418
15 years$4,283$3,666$3,126$2,657$2,251$1,186
16 years$3,974$3,364$2,835$2,379$1,990$995
17 years$3,701$3,098$2,579$2,138$1,764$836
18 years$3,459$2,863$2,355$1,926$1,569$705
19 years$3,243$2,653$2,156$1,741$1,398$594
20 years$3,049$2,465$1,978$1,576$1,249$502
21 years$2,873$2,296$1,820$1,431$1,118$425
22 years$2,713$2,144$1,677$1,301$1,002$360
23 years$2,568$2,005$1,548$1,185$899$305
24 years$2,435$1,878$1,432$1,081$808$258
25 years$2,313$1,763$1,326$987$727$219
26 years$2,200$1,657$1,230$902$655$186
27 years$2,096$1,559$1,142$826$591$158
28 years$1,999$1,469$1,062$757$533$134
29 years$1,909$1,386$988$694$481$114
30 years$1,826$1,309$920$637$435$97
31 years$1,748$1,237$858$585$393$82
32 years$1,675$1,171$801$538$356$70
33 years$1,606$1,109$748$494$322$60
34 years$1,542$1,051$698$455$291$51
35 years$1,482$997$653$419$264$43
36 years$1,425$946$611$386$239$37
37 years$1,371$899$572$355$217$31
38 years$1,320$854$535$327$196$27
39 years$1,272$812$502$302$178$23
40 years$1,226$773$470$278$162$19
41 years$1,183$735$441$257$147$16
42 years$1,142$700$414$237$133$14
43 years$1,103$667$388$219$121$12
44 years$1,066$636$364$202$110$10
45 years$1,030$607$342$187$99$9
46 years$997$579$321$172$90$7
47 years$964$552$302$159$82$6
48 years$933$527$284$147$74$5
49 years$904$503$267$136$68$4
50 years$876$481$251$126$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $897,000, adding $5,541 every year, while hoping to spend $20,785 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: 57/22/21 Blend
65$897,000$897,000$897,000$897,000
66$994,210$946,669$932,765$1,044,983
67$1,073,504$970,940$941,898$1,104,489
68$1,160,190$995,705$950,639$1,166,605
69$1,254,999$1,020,964$958,956$1,233,847
70$1,358,737$1,046,720$966,809$1,306,714
71$1,472,292$1,072,973$974,161$1,385,755
72$1,596,641$1,099,724$980,971$1,471,575
73$1,732,861$1,126,972$987,195$1,564,841
74$1,882,135$1,154,717$992,789$1,666,287
75$2,045,770$1,182,955$997,705$1,776,722
76$2,225,203$1,211,684$1,001,892$1,897,038
77$2,422,017$1,240,900$1,005,299$2,028,216
78$2,637,957$1,270,598$1,007,870$2,171,340
79$2,874,942$1,300,771$1,009,548$2,327,602
80$3,135,089$1,331,412$1,010,271$2,498,316
81$3,420,728$1,362,511$1,009,975$2,684,930
82$3,734,428$1,394,059$1,008,594$2,889,040
83$4,079,015$1,426,044$1,006,058$3,112,404
84$4,457,606$1,458,452$1,002,293$3,356,961
85$4,873,634$1,491,267$997,221$3,624,846
86$5,330,878$1,524,473$990,761$3,918,414
87$5,833,506$1,558,051$982,830$4,240,257
88$6,386,106$1,591,978$973,338$4,593,235
89$6,993,735$1,626,231$962,191$4,980,499
90$7,661,965$1,660,785$949,293$5,405,520
91$8,396,932$1,695,610$934,541$5,872,126
92$9,205,399$1,730,675$917,828$6,384,533
93$10,094,818$1,765,946$899,043$6,947,390
94$11,073,397$1,801,385$878,069$7,565,819
95$12,150,181$1,836,951$854,782$8,245,467
96$13,335,138$1,872,599$829,055$8,992,555
97$14,639,247$1,908,282$800,754$9,813,941
98$16,074,609$1,943,947$769,738$10,717,183
99$17,654,557$1,979,538$735,862$11,710,610
100$19,393,779$2,014,993$698,971$12,803,404