Can I retire at age 66 with 905,000?

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 $905,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$74,734$74,068$73,419$72,785$72,166$70,479
2 years$36,997$36,308$35,640$34,993$34,365$32,674
3 years$24,420$23,728$23,062$22,420$21,802$20,162
4 years$18,132$17,442$16,783$16,152$15,550$13,971
5 years$14,361$13,675$13,024$12,407$11,821$10,309
6 years$11,847$11,167$10,526$9,922$9,353$7,910
7 years$10,053$9,378$8,747$8,157$7,607$6,232
8 years$8,707$8,038$7,418$6,843$6,310$5,004
9 years$7,661$6,999$6,389$5,829$5,314$4,075
10 years$6,825$6,169$5,570$5,024$4,528$3,354
11 years$6,141$5,492$4,904$4,373$3,894$2,785
12 years$5,572$4,929$4,352$3,835$3,375$2,327
13 years$5,091$4,455$3,888$3,386$2,943$1,956
14 years$4,678$4,049$3,494$3,006$2,580$1,651
15 years$4,322$3,699$3,154$2,681$2,271$1,398
16 years$4,009$3,394$2,860$2,400$2,007$1,188
17 years$3,734$3,126$2,602$2,157$1,780$1,012
18 years$3,490$2,888$2,376$1,944$1,583$864
19 years$3,272$2,677$2,175$1,756$1,411$739
20 years$3,076$2,487$1,996$1,591$1,260$633
21 years$2,899$2,317$1,836$1,443$1,128$543
22 years$2,738$2,163$1,692$1,312$1,011$466
23 years$2,591$2,023$1,562$1,195$907$401
24 years$2,457$1,895$1,445$1,090$815$345
25 years$2,333$1,779$1,338$996$734$297
26 years$2,220$1,672$1,241$910$661$255
27 years$2,114$1,573$1,152$833$596$220
28 years$2,017$1,482$1,071$763$538$190
29 years$1,927$1,398$997$700$486$164
30 years$1,842$1,321$929$643$439$141
31 years$1,763$1,248$866$590$397$122
32 years$1,690$1,181$808$542$359$105
33 years$1,621$1,119$754$499$325$91
34 years$1,556$1,060$705$459$294$78
35 years$1,495$1,006$659$422$266$68
36 years$1,437$955$616$389$241$58
37 years$1,383$907$577$358$219$50
38 years$1,332$862$540$330$198$44
39 years$1,283$819$506$305$180$38
40 years$1,237$779$474$281$163$33
41 years$1,194$742$445$259$148$28
42 years$1,152$707$417$239$134$24
43 years$1,113$673$392$221$122$21
44 years$1,075$642$368$204$111$18
45 years$1,040$612$345$188$100$16
46 years$1,005$584$324$174$91$14
47 years$973$557$305$161$83$12
48 years$942$532$286$149$75$10
49 years$912$508$269$137$68$9
50 years$884$485$253$127$62$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $905,000, adding $2,659 every year, while hoping to spend $55,883 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: 52/40/8 Blend
65$905,000$905,000$905,000$905,000
66$1,000,053$952,088$938,060$1,049,918
67$1,042,599$939,281$910,026$1,071,293
68$1,087,612$923,974$879,180$1,088,255
69$1,135,285$905,984$845,369$1,105,375
70$1,185,827$885,121$808,432$1,122,679
71$1,239,469$861,179$768,202$1,140,201
72$1,296,462$833,944$724,504$1,157,979
73$1,357,081$803,188$677,155$1,176,061
74$1,421,627$768,668$625,963$1,194,501
75$1,490,430$730,130$570,730$1,213,366
76$1,563,851$687,303$511,246$1,232,732
77$1,642,284$639,901$447,294$1,252,686
78$1,726,164$587,623$378,645$1,273,333
79$1,815,965$530,149$305,061$1,294,791
80$1,912,208$467,141$226,296$1,317,196
81$2,015,465$398,242$142,088$1,340,706
82$2,126,362$323,076$52,168$1,365,498
83$2,245,589$241,245$0$1,391,778
84$2,373,901$152,328$0$1,423,516
85$2,512,127$55,880$0$1,462,232
86$2,661,179$0$0$1,503,795
87$2,822,058$0$0$1,569,947
88$2,995,864$0$0$1,668,058
89$3,183,806$0$0$1,774,222
90$3,387,213$0$0$1,889,200
91$3,607,544$0$0$2,013,827
92$3,846,407$0$0$2,149,022
93$4,105,567$0$0$2,295,794
94$4,386,966$0$0$2,455,256
95$4,692,741$0$0$2,628,630
96$5,025,242$0$0$2,817,260
97$5,387,053$0$0$3,022,627
98$5,781,020$0$0$3,246,358
99$6,210,274$0$0$3,490,246
100$6,678,258$0$0$3,756,262