Can I retire at age 66 with 920,000?

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 $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$75,973$75,296$74,636$73,991$73,362$72,355
2 years$37,610$36,910$36,231$35,573$34,934$33,922
3 years$24,824$24,121$23,444$22,792$22,164$21,177
4 years$18,433$17,731$17,061$16,420$15,807$14,854
5 years$14,599$13,902$13,240$12,612$12,017$11,099
6 years$12,044$11,352$10,700$10,086$9,508$8,628
7 years$10,219$9,533$8,892$8,292$7,733$6,890
8 years$8,852$8,172$7,541$6,956$6,415$5,610
9 years$7,788$7,115$6,495$5,925$5,402$4,634
10 years$6,938$6,271$5,662$5,108$4,603$3,871
11 years$6,243$5,583$4,985$4,445$3,959$3,263
12 years$5,664$5,011$4,424$3,899$3,431$2,770
13 years$5,175$4,529$3,953$3,442$2,992$2,365
14 years$4,756$4,116$3,552$3,056$2,622$2,028
15 years$4,393$3,760$3,207$2,725$2,309$1,747
16 years$4,076$3,450$2,907$2,440$2,041$1,510
17 years$3,796$3,177$2,645$2,192$1,809$1,309
18 years$3,548$2,936$2,415$1,976$1,609$1,137
19 years$3,326$2,721$2,211$1,785$1,434$990
20 years$3,127$2,529$2,029$1,617$1,281$863
21 years$2,947$2,355$1,866$1,467$1,146$754
22 years$2,783$2,199$1,720$1,334$1,027$659
23 years$2,634$2,056$1,588$1,215$922$577
24 years$2,497$1,927$1,469$1,108$829$506
25 years$2,372$1,808$1,360$1,012$746$444
26 years$2,256$1,699$1,262$925$672$390
27 years$2,150$1,599$1,172$847$606$342
28 years$2,050$1,507$1,089$776$547$301
29 years$1,958$1,422$1,014$712$494$265
30 years$1,873$1,343$944$653$446$233
31 years$1,793$1,269$880$600$403$205
32 years$1,718$1,201$821$551$365$180
33 years$1,648$1,137$767$507$330$159
34 years$1,582$1,078$716$466$299$140
35 years$1,520$1,022$670$429$271$123
36 years$1,461$970$627$395$245$109
37 years$1,406$922$586$364$222$96
38 years$1,354$876$549$336$202$84
39 years$1,305$833$515$310$183$74
40 years$1,258$792$482$286$166$66
41 years$1,213$754$452$264$150$58
42 years$1,171$718$424$243$136$51
43 years$1,131$684$398$224$124$45
44 years$1,093$652$374$207$112$40
45 years$1,057$622$351$191$102$35
46 years$1,022$593$330$177$93$31
47 years$989$566$310$163$84$27
48 years$957$541$291$151$76$24
49 years$927$516$273$140$69$21
50 years$898$493$257$129$63$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $920,000, adding $5,411 every year, while hoping to spend $40,210 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: 72/7/21 Blend
65$920,000$920,000$920,000$920,000
66$1,019,421$970,661$956,401$1,087,230
67$1,080,619$975,441$945,658$1,137,864
68$1,146,712$979,107$933,207$1,187,984
69$1,218,155$981,562$918,948$1,241,873
70$1,295,452$982,704$902,778$1,299,898
71$1,379,155$982,422$884,587$1,362,466
72$1,469,869$980,601$864,261$1,430,025
73$1,568,262$977,117$841,681$1,503,070
74$1,675,068$971,840$816,720$1,582,145
75$1,791,094$964,629$789,249$1,667,854
76$1,917,228$955,337$759,131$1,760,859
77$2,054,445$943,809$726,222$1,861,893
78$2,203,821$929,878$690,373$1,971,765
79$2,366,538$913,369$651,428$2,091,365
80$2,543,896$894,096$609,222$2,221,677
81$2,737,328$871,861$563,586$2,363,786
82$2,948,410$846,457$514,340$2,518,888
83$3,178,876$817,661$461,299$2,688,302
84$3,430,636$785,242$404,267$2,873,486
85$3,705,793$748,950$343,042$3,076,045
86$4,006,660$708,525$277,410$3,297,750
87$4,335,786$663,689$207,150$3,540,554
88$4,695,977$614,151$132,030$3,806,613
89$5,090,323$559,601$51,809$4,098,304
90$5,522,226$499,711$0$4,418,246
91$5,995,432$434,136$0$4,776,904
92$6,514,069$362,511$0$5,182,775
93$7,082,680$284,451$0$5,627,812
94$7,706,271$199,547$0$6,115,958
95$8,390,356$107,369$0$6,651,554
96$9,141,005$7,463$0$7,239,386
97$9,964,907$0$0$7,884,723
98$10,869,431$0$0$8,601,128
99$11,862,691$0$0$9,388,492
100$12,953,628$0$0$10,253,334