Can I retire at age 66 with 929,000?

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 $929,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$76,716$76,033$75,366$74,715$74,080$72,113
2 years$37,978$37,271$36,585$35,921$35,276$33,309
3 years$25,067$24,357$23,673$23,015$22,381$20,474
4 years$18,613$17,905$17,228$16,581$15,962$14,130
5 years$14,742$14,038$13,370$12,736$12,134$10,383
6 years$12,161$11,463$10,805$10,185$9,601$7,932
7 years$10,319$9,626$8,979$8,374$7,808$6,221
8 years$8,938$8,252$7,615$7,024$6,478$4,972
9 years$7,865$7,185$6,559$5,983$5,455$4,029
10 years$7,006$6,333$5,718$5,158$4,648$3,300
11 years$6,304$5,638$5,034$4,489$3,998$2,726
12 years$5,720$5,060$4,467$3,937$3,464$2,266
13 years$5,226$4,573$3,991$3,476$3,021$1,894
14 years$4,803$4,157$3,586$3,086$2,648$1,590
15 years$4,436$3,797$3,238$2,752$2,332$1,339
16 years$4,116$3,484$2,936$2,464$2,061$1,132
17 years$3,833$3,208$2,671$2,214$1,827$959
18 years$3,583$2,965$2,439$1,995$1,625$813
19 years$3,359$2,748$2,232$1,803$1,448$692
20 years$3,157$2,553$2,049$1,633$1,293$589
21 years$2,975$2,378$1,884$1,482$1,157$502
22 years$2,810$2,220$1,737$1,347$1,037$428
23 years$2,660$2,076$1,604$1,227$931$366
24 years$2,522$1,945$1,483$1,119$837$313
25 years$2,395$1,826$1,374$1,022$753$267
26 years$2,278$1,716$1,274$934$678$229
27 years$2,171$1,615$1,183$855$612$196
28 years$2,071$1,522$1,100$784$552$168
29 years$1,978$1,435$1,023$719$498$144
30 years$1,891$1,356$953$660$450$123
31 years$1,810$1,282$889$606$407$105
32 years$1,735$1,213$829$557$368$90
33 years$1,664$1,148$774$512$333$78
34 years$1,597$1,088$723$471$302$67
35 years$1,534$1,032$676$434$273$57
36 years$1,475$980$633$399$248$49
37 years$1,420$931$592$368$224$42
38 years$1,367$884$555$339$203$36
39 years$1,317$841$520$313$185$31
40 years$1,270$800$487$288$167$27
41 years$1,225$762$457$266$152$23
42 years$1,183$725$428$246$138$20
43 years$1,142$691$402$227$125$17
44 years$1,104$659$377$209$114$14
45 years$1,067$628$354$193$103$12
46 years$1,032$599$333$179$94$11
47 years$999$572$313$165$85$9
48 years$967$546$294$152$77$8
49 years$936$521$276$141$70$7
50 years$907$498$260$130$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $929,000, adding $5,885 every year, while hoping to spend $45,712 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: 34/42/24 Blend
65$929,000$929,000$929,000$929,000
66$1,029,828$980,591$966,192$1,057,155
67$1,086,234$980,003$949,922$1,077,457
68$1,146,860$977,854$931,575$1,094,772
69$1,212,090$974,019$911,033$1,112,528
70$1,282,344$968,366$888,173$1,130,793
71$1,358,082$960,755$862,866$1,149,646
72$1,439,810$951,037$834,976$1,169,179
73$1,528,086$939,053$804,363$1,189,494
74$1,623,521$924,636$770,879$1,210,711
75$1,726,787$907,610$734,370$1,232,966
76$1,838,622$887,785$694,674$1,256,412
77$1,959,839$864,964$651,623$1,281,225
78$2,091,330$838,936$605,041$1,307,603
79$2,234,079$809,477$554,743$1,335,770
80$2,389,166$776,352$500,538$1,365,979
81$2,557,779$739,311$442,223$1,398,516
82$2,741,225$698,090$379,590$1,433,702
83$2,940,942$652,409$312,420$1,471,900
84$3,158,515$601,974$240,482$1,513,515
85$3,395,684$546,471$163,539$1,559,004
86$3,654,368$485,572$81,341$1,608,877
87$3,936,675$418,926$0$1,663,708
88$4,244,928$346,166$0$1,725,770
89$4,581,685$266,902$0$1,816,481
90$4,949,760$180,724$0$1,915,862
91$5,352,252$87,196$0$2,024,884
92$5,792,573$0$0$2,144,621
93$6,274,480$0$0$2,282,803
94$6,802,110$0$0$2,478,349
95$7,380,019$0$0$2,692,667
96$8,013,223$0$0$2,927,633
97$8,707,249$0$0$3,185,315
98$9,468,180$0$0$3,467,992
99$10,302,719$0$0$3,778,171
100$11,218,248$0$0$4,118,617