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%14.6%
1 years$74,734$74,068$73,419$72,785$72,166$70,796
2 years$36,997$36,308$35,640$34,993$34,365$32,990
3 years$24,420$23,728$23,062$22,420$21,802$20,465
4 years$18,132$17,442$16,783$16,152$15,550$14,261
5 years$14,361$13,675$13,024$12,407$11,821$10,584
6 years$11,847$11,167$10,526$9,922$9,353$8,170
7 years$10,053$9,378$8,747$8,157$7,607$6,477
8 years$8,707$8,038$7,418$6,843$6,310$5,234
9 years$7,661$6,999$6,389$5,829$5,314$4,290
10 years$6,825$6,169$5,570$5,024$4,528$3,556
11 years$6,141$5,492$4,904$4,373$3,894$2,972
12 years$5,572$4,929$4,352$3,835$3,375$2,502
13 years$5,091$4,455$3,888$3,386$2,943$2,118
14 years$4,678$4,049$3,494$3,006$2,580$1,801
15 years$4,322$3,699$3,154$2,681$2,271$1,538
16 years$4,009$3,394$2,860$2,400$2,007$1,317
17 years$3,734$3,126$2,602$2,157$1,780$1,131
18 years$3,490$2,888$2,376$1,944$1,583$973
19 years$3,272$2,677$2,175$1,756$1,411$839
20 years$3,076$2,487$1,996$1,591$1,260$725
21 years$2,899$2,317$1,836$1,443$1,128$627
22 years$2,738$2,163$1,692$1,312$1,011$543
23 years$2,591$2,023$1,562$1,195$907$470
24 years$2,457$1,895$1,445$1,090$815$408
25 years$2,333$1,779$1,338$996$734$354
26 years$2,220$1,672$1,241$910$661$308
27 years$2,114$1,573$1,152$833$596$268
28 years$2,017$1,482$1,071$763$538$233
29 years$1,927$1,398$997$700$486$203
30 years$1,842$1,321$929$643$439$176
31 years$1,763$1,248$866$590$397$153
32 years$1,690$1,181$808$542$359$134
33 years$1,621$1,119$754$499$325$116
34 years$1,556$1,060$705$459$294$101
35 years$1,495$1,006$659$422$266$88
36 years$1,437$955$616$389$241$77
37 years$1,383$907$577$358$219$67
38 years$1,332$862$540$330$198$59
39 years$1,283$819$506$305$180$51
40 years$1,237$779$474$281$163$45
41 years$1,194$742$445$259$148$39
42 years$1,152$707$417$239$134$34
43 years$1,113$673$392$221$122$30
44 years$1,075$642$368$204$111$26
45 years$1,040$612$345$188$100$22
46 years$1,005$584$324$174$91$20
47 years$973$557$305$161$83$17
48 years$942$532$286$149$75$15
49 years$912$508$269$137$68$13
50 years$884$485$253$127$62$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $905,000, adding $6,190 every year, while hoping to spend $24,084 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: 63/15/22 Blend
65$905,000$905,000$905,000$905,000
66$1,003,695$955,730$941,702$1,060,820
67$1,080,447$976,936$947,624$1,121,317
68$1,164,220$998,373$952,937$1,184,122
69$1,255,705$1,020,028$957,596$1,252,169
70$1,355,663$1,041,886$961,551$1,325,973
71$1,464,931$1,063,928$964,754$1,406,100
72$1,584,431$1,086,137$967,149$1,493,175
73$1,715,177$1,108,492$968,683$1,587,887
74$1,858,286$1,130,970$969,295$1,690,995
75$2,014,990$1,153,546$968,925$1,803,336
76$2,186,643$1,176,194$967,508$1,925,831
77$2,374,738$1,198,884$964,977$2,059,496
78$2,580,917$1,221,586$961,260$2,205,453
79$2,806,992$1,244,265$956,283$2,364,934
80$3,054,955$1,266,884$949,968$2,539,300
81$3,327,002$1,289,403$942,234$2,730,052
82$3,625,552$1,311,779$932,995$2,938,842
83$3,953,269$1,333,967$922,160$3,167,492
84$4,313,087$1,355,916$909,637$3,418,010
85$4,708,239$1,377,572$895,327$3,692,610
86$5,142,285$1,398,880$879,127$3,993,732
87$5,619,149$1,419,776$860,929$4,324,065
88$6,143,153$1,440,196$840,620$4,686,574
89$6,719,057$1,460,067$818,083$5,084,526
90$7,352,106$1,479,316$793,194$5,521,522
91$8,048,078$1,497,860$765,824$6,001,533
92$8,813,341$1,515,614$735,838$6,528,934
93$9,654,907$1,532,485$703,094$7,108,548
94$10,580,506$1,548,374$667,446$7,745,692
95$11,598,651$1,563,178$628,738$8,446,225
96$12,718,723$1,576,783$586,811$9,216,605
97$13,951,058$1,589,071$541,494$10,063,953
98$15,307,044$1,599,914$492,613$10,996,114
99$16,799,230$1,609,177$439,983$12,021,737
100$18,441,441$1,616,716$383,412$13,150,354