Can I retire at age 66 with 905,000?

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 $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%11%
1 years$74,734$74,068$73,419$72,785$72,166$71,862
2 years$36,997$36,308$35,640$34,993$34,365$34,058
3 years$24,420$23,728$23,062$22,420$21,802$21,502
4 years$18,132$17,442$16,783$16,152$15,550$15,258
5 years$14,361$13,675$13,024$12,407$11,821$11,539
6 years$11,847$11,167$10,526$9,922$9,353$9,082
7 years$10,053$9,378$8,747$8,157$7,607$7,345
8 years$8,707$8,038$7,418$6,843$6,310$6,059
9 years$7,661$6,999$6,389$5,829$5,314$5,074
10 years$6,825$6,169$5,570$5,024$4,528$4,297
11 years$6,141$5,492$4,904$4,373$3,894$3,674
12 years$5,572$4,929$4,352$3,835$3,375$3,164
13 years$5,091$4,455$3,888$3,386$2,943$2,742
14 years$4,678$4,049$3,494$3,006$2,580$2,388
15 years$4,322$3,699$3,154$2,681$2,271$2,089
16 years$4,009$3,394$2,860$2,400$2,007$1,834
17 years$3,734$3,126$2,602$2,157$1,780$1,615
18 years$3,490$2,888$2,376$1,944$1,583$1,426
19 years$3,272$2,677$2,175$1,756$1,411$1,262
20 years$3,076$2,487$1,996$1,591$1,260$1,119
21 years$2,899$2,317$1,836$1,443$1,128$994
22 years$2,738$2,163$1,692$1,312$1,011$885
23 years$2,591$2,023$1,562$1,195$907$788
24 years$2,457$1,895$1,445$1,090$815$703
25 years$2,333$1,779$1,338$996$734$628
26 years$2,220$1,672$1,241$910$661$561
27 years$2,114$1,573$1,152$833$596$502
28 years$2,017$1,482$1,071$763$538$450
29 years$1,927$1,398$997$700$486$403
30 years$1,842$1,321$929$643$439$361
31 years$1,763$1,248$866$590$397$324
32 years$1,690$1,181$808$542$359$291
33 years$1,621$1,119$754$499$325$261
34 years$1,556$1,060$705$459$294$234
35 years$1,495$1,006$659$422$266$210
36 years$1,437$955$616$389$241$189
37 years$1,383$907$577$358$219$170
38 years$1,332$862$540$330$198$153
39 years$1,283$819$506$305$180$137
40 years$1,237$779$474$281$163$124
41 years$1,194$742$445$259$148$111
42 years$1,152$707$417$239$134$100
43 years$1,113$673$392$221$122$90
44 years$1,075$642$368$204$111$81
45 years$1,040$612$345$188$100$73
46 years$1,005$584$324$174$91$66
47 years$973$557$305$161$83$59
48 years$942$532$286$149$75$53
49 years$912$508$269$137$68$48
50 years$884$485$253$127$62$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $905,000, adding $6,347 every year, while hoping to spend $37,869 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: 42/37/21 Blend
65$905,000$905,000$905,000$905,000
66$1,003,857$955,892$941,864$1,039,608
67$1,065,958$962,438$933,125$1,072,180
68$1,133,124$968,036$922,823$1,103,290
69$1,205,832$972,599$910,867$1,136,208
70$1,284,606$976,036$897,159$1,171,118
71$1,370,022$978,247$881,600$1,208,228
72$1,462,713$979,130$864,083$1,247,768
73$1,563,376$978,575$844,497$1,289,993
74$1,672,779$976,463$822,725$1,335,188
75$1,791,764$972,671$798,648$1,383,669
76$1,921,258$967,066$772,137$1,435,786
77$2,062,283$959,509$743,060$1,491,928
78$2,215,962$949,851$711,279$1,552,528
79$2,383,531$937,935$676,648$1,618,066
80$2,566,350$923,593$639,015$1,689,073
81$2,765,918$906,649$598,221$1,766,140
82$2,983,882$886,915$554,102$1,849,921
83$3,222,058$864,193$506,484$1,941,142
84$3,482,442$838,274$455,186$2,040,606
85$3,767,236$808,933$400,019$2,149,206
86$4,078,860$775,938$340,786$2,267,926
87$4,419,983$739,037$277,281$2,397,862
88$4,793,539$697,968$209,289$2,540,223
89$5,202,764$652,453$136,584$2,696,348
90$5,651,219$602,196$58,932$2,867,723
91$6,142,826$546,886$0$3,055,987
92$6,681,906$486,195$0$3,268,321
93$7,273,215$419,773$0$3,515,812
94$7,921,995$347,255$0$3,787,524
95$8,634,019$268,250$0$4,085,976
96$9,415,645$182,350$0$4,413,952
97$10,273,876$89,121$0$4,774,526
98$11,216,429$0$0$5,171,090
99$12,251,803$0$0$5,612,234
100$13,389,361$0$0$6,136,902