Can I retire at age 66 with 898,000?

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 $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%11.5%
1 years$74,156$73,495$72,851$72,222$71,608$71,156
2 years$36,711$36,027$35,365$34,722$34,099$33,644
3 years$24,231$23,544$22,883$22,247$21,634$21,189
4 years$17,992$17,307$16,653$16,028$15,429$14,998
5 years$14,250$13,569$12,924$12,311$11,729$11,313
6 years$11,756$11,080$10,444$9,845$9,281$8,880
7 years$9,975$9,305$8,679$8,094$7,548$7,162
8 years$8,640$7,976$7,361$6,790$6,262$5,892
9 years$7,602$6,945$6,340$5,784$5,273$4,919
10 years$6,772$6,122$5,527$4,985$4,493$4,154
11 years$6,094$5,450$4,866$4,339$3,864$3,540
12 years$5,529$4,891$4,318$3,806$3,349$3,039
13 years$5,051$4,420$3,858$3,360$2,920$2,625
14 years$4,642$4,018$3,467$2,983$2,560$2,279
15 years$4,288$3,670$3,130$2,660$2,254$1,987
16 years$3,978$3,368$2,838$2,382$1,992$1,739
17 years$3,706$3,101$2,582$2,140$1,766$1,526
18 years$3,463$2,866$2,357$1,928$1,570$1,343
19 years$3,247$2,656$2,158$1,743$1,400$1,184
20 years$3,052$2,468$1,980$1,578$1,250$1,046
21 years$2,876$2,299$1,822$1,432$1,119$926
22 years$2,716$2,146$1,679$1,302$1,003$821
23 years$2,571$2,007$1,550$1,186$900$729
24 years$2,438$1,881$1,434$1,082$809$648
25 years$2,315$1,765$1,328$988$728$576
26 years$2,202$1,659$1,231$903$656$513
27 years$2,098$1,561$1,144$827$591$457
28 years$2,001$1,471$1,063$758$534$408
29 years$1,912$1,388$989$695$482$364
30 years$1,828$1,310$921$638$435$325
31 years$1,750$1,239$859$586$394$290
32 years$1,677$1,172$802$538$356$259
33 years$1,608$1,110$748$495$322$232
34 years$1,544$1,052$699$455$292$207
35 years$1,483$998$654$419$264$185
36 years$1,426$947$612$386$239$166
37 years$1,372$900$572$356$217$148
38 years$1,322$855$536$328$197$133
39 years$1,273$813$502$302$178$119
40 years$1,228$773$471$279$162$107
41 years$1,184$736$441$257$147$95
42 years$1,143$701$414$237$133$85
43 years$1,104$668$389$219$121$77
44 years$1,067$637$365$202$110$69
45 years$1,031$607$342$187$100$61
46 years$998$579$322$173$90$55
47 years$965$553$302$159$82$49
48 years$935$528$284$147$75$44
49 years$905$504$267$136$68$40
50 years$877$481$251$126$62$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $898,000, adding $2,555 every year, while hoping to spend $40,716 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: 46/29/25 Blend
65$898,000$898,000$898,000$898,000
66$992,231$944,637$930,718$1,030,641
67$1,050,118$947,603$918,576$1,060,944
68$1,112,543$949,350$904,662$1,089,620
69$1,179,929$949,774$888,875$1,119,927
70$1,252,736$948,767$871,106$1,152,038
71$1,331,472$946,213$851,245$1,186,146
72$1,416,694$941,990$829,173$1,222,467
73$1,509,015$935,965$804,769$1,261,239
74$1,609,109$928,002$777,903$1,302,729
75$1,717,717$917,953$748,442$1,347,233
76$1,835,654$905,663$716,245$1,395,082
77$1,963,817$890,967$681,165$1,446,641
78$2,103,191$873,689$643,049$1,502,318
79$2,254,863$853,646$601,737$1,562,565
80$2,420,024$830,640$557,061$1,627,885
81$2,599,991$804,465$508,846$1,698,835
82$2,796,207$774,901$456,910$1,776,034
83$3,010,264$741,715$401,060$1,860,170
84$3,243,913$704,662$341,098$1,952,003
85$3,499,083$663,481$276,816$2,052,377
86$3,777,895$617,897$207,995$2,162,230
87$4,082,686$567,620$134,409$2,282,598
88$4,416,029$512,342$55,820$2,414,630
89$4,780,755$451,737$0$2,559,601
90$5,179,983$385,464$0$2,726,401
91$5,617,147$313,158$0$2,925,486
92$6,096,030$234,436$0$3,143,751
93$6,620,795$148,894$0$3,383,183
94$7,196,031$56,104$0$3,645,976
95$7,826,787$0$0$3,934,554
96$8,518,629$0$0$4,265,755
97$9,277,684$0$0$4,648,881
98$10,110,703$0$0$5,069,449
99$11,025,120$0$0$5,531,225
100$12,029,126$0$0$6,038,361