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%18.7%
1 years$74,073$73,414$72,770$72,142$71,528$69,018
2 years$36,670$35,987$35,325$34,683$34,061$31,558
3 years$24,204$23,518$22,858$22,222$21,610$19,193
4 years$17,972$17,288$16,635$16,010$15,412$13,100
5 years$14,234$13,554$12,909$12,297$11,716$9,515
6 years$11,743$11,068$10,432$9,834$9,271$7,182
7 years$9,964$9,295$8,669$8,085$7,539$5,563
8 years$8,630$7,967$7,352$6,782$6,255$4,388
9 years$7,594$6,937$6,333$5,777$5,267$3,509
10 years$6,765$6,115$5,521$4,980$4,488$2,835
11 years$6,087$5,444$4,861$4,334$3,860$2,308
12 years$5,523$4,886$4,314$3,802$3,345$1,891
13 years$5,046$4,415$3,854$3,356$2,917$1,557
14 years$4,637$4,013$3,463$2,979$2,557$1,288
15 years$4,283$3,666$3,126$2,657$2,251$1,068
16 years$3,974$3,364$2,835$2,379$1,990$888
17 years$3,701$3,098$2,579$2,138$1,764$740
18 years$3,459$2,863$2,355$1,926$1,569$618
19 years$3,243$2,653$2,156$1,741$1,398$517
20 years$3,049$2,465$1,978$1,576$1,249$433
21 years$2,873$2,296$1,820$1,431$1,118$363
22 years$2,713$2,144$1,677$1,301$1,002$304
23 years$2,568$2,005$1,548$1,185$899$255
24 years$2,435$1,878$1,432$1,081$808$214
25 years$2,313$1,763$1,326$987$727$180
26 years$2,200$1,657$1,230$902$655$151
27 years$2,096$1,559$1,142$826$591$127
28 years$1,999$1,469$1,062$757$533$107
29 years$1,909$1,386$988$694$481$90
30 years$1,826$1,309$920$637$435$76
31 years$1,748$1,237$858$585$393$64
32 years$1,675$1,171$801$538$356$54
33 years$1,606$1,109$748$494$322$45
34 years$1,542$1,051$698$455$291$38
35 years$1,482$997$653$419$264$32
36 years$1,425$946$611$386$239$27
37 years$1,371$899$572$355$217$23
38 years$1,320$854$535$327$196$19
39 years$1,272$812$502$302$178$16
40 years$1,226$773$470$278$162$14
41 years$1,183$735$441$257$147$11
42 years$1,142$700$414$237$133$10
43 years$1,103$667$388$219$121$8
44 years$1,066$636$364$202$110$7
45 years$1,030$607$342$187$99$6
46 years$997$579$321$172$90$5
47 years$964$552$302$159$82$4
48 years$933$527$284$147$74$3
49 years$904$503$267$136$68$3
50 years$876$481$251$126$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $897,000, adding $4,332 every year, while hoping to spend $53,780 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: 78/7/15 Blend
65$897,000$897,000$897,000$897,000
66$992,962$945,421$931,518$1,066,948
67$1,037,023$934,526$905,502$1,105,418
68$1,083,776$921,293$876,813$1,140,344
69$1,133,437$905,554$845,303$1,177,154
70$1,186,247$887,125$810,819$1,216,017
71$1,242,465$865,814$773,202$1,257,117
72$1,302,376$841,419$732,285$1,300,660
73$1,366,294$813,724$687,892$1,346,870
74$1,434,560$782,501$639,840$1,395,998
75$1,507,550$747,508$587,940$1,448,319
76$1,585,675$708,491$531,990$1,504,137
77$1,669,386$665,179$471,784$1,563,787
78$1,759,177$617,286$407,102$1,627,640
79$1,855,591$564,512$337,719$1,696,106
80$1,959,225$506,537$263,396$1,769,637
81$2,070,732$443,023$183,886$1,848,731
82$2,190,830$373,614$98,929$1,933,940
83$2,320,308$297,934$8,256$2,025,873
84$2,460,032$215,586$0$2,125,202
85$2,610,954$126,148$0$2,246,833
86$2,774,120$29,178$0$2,379,753
87$2,950,680$0$0$2,523,591
88$3,141,897$0$0$2,685,235
89$3,349,161$0$0$2,862,906
90$3,574,000$0$0$3,055,667
91$3,818,094$0$0$3,264,964
92$4,083,291$0$0$3,492,384
93$4,371,625$0$0$3,739,675
94$4,685,331$0$0$4,008,758
95$5,026,872$0$0$4,301,747
96$5,398,954$0$0$4,620,971
97$5,804,558$0$0$4,968,989
98$6,246,963$0$0$5,348,621
99$6,729,779$0$0$5,762,968
100$7,256,979$0$0$6,215,446