Can I retire at age 66 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$74,156$73,495$72,851$72,222$71,608$68,875
2 years$36,711$36,027$35,365$34,722$34,099$31,378
3 years$24,231$23,544$22,883$22,247$21,634$19,010
4 years$17,992$17,307$16,653$16,028$15,429$12,923
5 years$14,250$13,569$12,924$12,311$11,729$9,347
6 years$11,756$11,080$10,444$9,845$9,281$7,024
7 years$9,975$9,305$8,679$8,094$7,548$5,416
8 years$8,640$7,976$7,361$6,790$6,262$4,252
9 years$7,602$6,945$6,340$5,784$5,273$3,383
10 years$6,772$6,122$5,527$4,985$4,493$2,720
11 years$6,094$5,450$4,866$4,339$3,864$2,203
12 years$5,529$4,891$4,318$3,806$3,349$1,795
13 years$5,051$4,420$3,858$3,360$2,920$1,470
14 years$4,642$4,018$3,467$2,983$2,560$1,209
15 years$4,288$3,670$3,130$2,660$2,254$997
16 years$3,978$3,368$2,838$2,382$1,992$824
17 years$3,706$3,101$2,582$2,140$1,766$683
18 years$3,463$2,866$2,357$1,928$1,570$567
19 years$3,247$2,656$2,158$1,743$1,400$471
20 years$3,052$2,468$1,980$1,578$1,250$392
21 years$2,876$2,299$1,822$1,432$1,119$326
22 years$2,716$2,146$1,679$1,302$1,003$272
23 years$2,571$2,007$1,550$1,186$900$227
24 years$2,438$1,881$1,434$1,082$809$189
25 years$2,315$1,765$1,328$988$728$158
26 years$2,202$1,659$1,231$903$656$132
27 years$2,098$1,561$1,144$827$591$110
28 years$2,001$1,471$1,063$758$534$92
29 years$1,912$1,388$989$695$482$77
30 years$1,828$1,310$921$638$435$64
31 years$1,750$1,239$859$586$394$54
32 years$1,677$1,172$802$538$356$45
33 years$1,608$1,110$748$495$322$38
34 years$1,544$1,052$699$455$292$32
35 years$1,483$998$654$419$264$26
36 years$1,426$947$612$386$239$22
37 years$1,372$900$572$356$217$18
38 years$1,322$855$536$328$197$15
39 years$1,273$813$502$302$178$13
40 years$1,228$773$471$279$162$11
41 years$1,184$736$441$257$147$9
42 years$1,143$701$414$237$133$8
43 years$1,104$668$389$219$121$6
44 years$1,067$637$365$202$110$5
45 years$1,031$607$342$187$100$4
46 years$998$579$322$173$90$4
47 years$965$553$302$159$82$3
48 years$935$528$284$147$75$3
49 years$905$504$267$136$68$2
50 years$877$481$251$126$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $898,000, adding $6,453 every year, while hoping to spend $35,393 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: 40/30/30 Blend
65$898,000$898,000$898,000$898,000
66$996,252$948,658$934,739$1,027,070
67$1,060,212$957,485$928,395$1,058,979
68$1,129,510$965,557$920,652$1,089,743
69$1,204,652$972,802$911,426$1,122,366
70$1,286,197$979,139$900,629$1,157,040
71$1,374,757$984,486$888,169$1,193,982
72$1,471,008$988,751$873,948$1,233,430
73$1,575,691$991,840$857,865$1,275,651
74$1,689,622$993,651$839,815$1,320,939
75$1,813,701$994,078$819,686$1,369,623
76$1,948,916$993,005$797,363$1,422,066
77$2,096,355$990,311$772,724$1,478,673
78$2,257,214$985,868$745,642$1,539,891
79$2,432,813$979,538$715,984$1,606,217
80$2,624,602$971,178$683,611$1,678,202
81$2,834,178$960,632$648,379$1,756,457
82$3,063,300$947,738$610,135$1,841,659
83$3,313,903$932,324$568,721$1,934,557
84$3,588,119$914,206$523,972$2,035,983
85$3,888,296$893,191$475,713$2,146,857
86$4,217,018$869,073$423,765$2,268,197
87$4,577,131$841,634$367,938$2,401,131
88$4,971,769$810,646$308,035$2,546,907
89$5,404,386$775,863$243,850$2,706,907
90$5,878,782$737,030$175,169$2,882,659
91$6,399,147$693,873$101,765$3,075,854
92$6,970,091$646,104$23,406$3,288,362
93$7,596,696$593,419$0$3,522,250
94$8,284,558$535,495$0$3,799,081
95$9,039,841$471,993$0$4,111,356
96$9,869,336$402,552$0$4,454,453
97$10,780,524$326,792$0$4,831,550
98$11,781,645$244,313$0$5,246,153
99$12,881,778$154,689$0$5,702,129
100$14,090,924$57,474$0$6,203,744