Can I retire at age 66 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$77,459$76,769$76,096$75,439$74,797$74,047
2 years$38,346$37,632$36,940$36,269$35,618$34,862
3 years$25,310$24,593$23,903$23,238$22,597$21,860
4 years$18,793$18,078$17,395$16,741$16,117$15,403
5 years$14,884$14,174$13,499$12,859$12,252$11,563
6 years$12,279$11,574$10,909$10,283$9,694$9,033
7 years$10,419$9,720$9,066$8,455$7,884$7,250
8 years$9,025$8,332$7,688$7,092$6,541$5,933
9 years$7,941$7,254$6,622$6,041$5,508$4,927
10 years$7,074$6,394$5,773$5,208$4,693$4,139
11 years$6,365$5,692$5,083$4,532$4,036$3,508
12 years$5,775$5,109$4,511$3,975$3,498$2,994
13 years$5,276$4,617$4,030$3,510$3,050$2,572
14 years$4,849$4,197$3,621$3,115$2,674$2,219
15 years$4,479$3,834$3,269$2,778$2,354$1,923
16 years$4,156$3,518$2,964$2,488$2,081$1,672
17 years$3,871$3,240$2,697$2,235$1,845$1,459
18 years$3,618$2,993$2,462$2,014$1,640$1,275
19 years$3,391$2,774$2,254$1,820$1,462$1,118
20 years$3,188$2,578$2,069$1,649$1,306$981
21 years$3,004$2,401$1,903$1,496$1,169$863
22 years$2,837$2,242$1,754$1,360$1,048$760
23 years$2,685$2,096$1,619$1,239$940$670
24 years$2,546$1,964$1,497$1,130$845$591
25 years$2,418$1,843$1,387$1,032$761$522
26 years$2,300$1,732$1,286$944$685$462
27 years$2,192$1,630$1,194$864$618$408
28 years$2,091$1,536$1,110$791$557$362
29 years$1,997$1,449$1,033$726$503$320
30 years$1,909$1,369$963$666$455$284
31 years$1,828$1,294$897$612$411$252
32 years$1,751$1,224$837$562$372$223
33 years$1,680$1,159$782$517$337$198
34 years$1,613$1,099$730$476$305$176
35 years$1,549$1,042$683$438$276$156
36 years$1,490$989$639$403$250$139
37 years$1,434$940$598$371$227$123
38 years$1,380$893$560$342$205$109
39 years$1,330$849$525$316$186$97
40 years$1,282$808$492$291$169$86
41 years$1,237$769$461$269$153$77
42 years$1,194$732$432$248$139$68
43 years$1,153$698$406$229$126$61
44 years$1,114$665$381$211$115$54
45 years$1,077$634$358$195$104$48
46 years$1,042$605$336$180$94$43
47 years$1,008$577$316$167$86$38
48 years$976$551$297$154$78$34
49 years$945$526$279$142$71$30
50 years$916$503$262$131$64$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $938,000, adding $6,878 every year, while hoping to spend $57,797 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: 80/8/12 Blend
65$938,000$938,000$938,000$938,000
66$1,040,771$991,057$976,518$1,121,185
67$1,085,434$978,123$947,735$1,162,047
68$1,132,715$962,618$916,052$1,198,673
69$1,182,821$944,356$881,309$1,237,184
70$1,235,977$923,137$843,341$1,277,742
71$1,292,429$898,753$801,975$1,320,523
72$1,352,446$870,981$757,030$1,365,726
73$1,416,323$839,586$708,318$1,413,566
74$1,484,382$804,320$655,640$1,464,283
75$1,556,975$764,919$598,791$1,518,141
76$1,634,491$721,104$537,555$1,575,430
77$1,717,353$672,582$471,707$1,636,471
78$1,806,025$619,041$401,011$1,701,620
79$1,901,017$560,151$325,223$1,771,268
80$2,002,888$495,565$244,085$1,845,846
81$2,112,251$424,916$157,329$1,925,831
82$2,229,778$347,814$64,677$2,011,750
83$2,356,208$263,850$0$2,104,183
84$2,492,353$172,590$0$2,208,149
85$2,639,102$73,577$0$2,329,101
86$2,797,434$0$0$2,459,570
87$2,968,425$0$0$2,603,424
88$3,153,254$0$0$2,765,943
89$3,353,221$0$0$2,941,794
90$3,569,751$0$0$3,132,234
91$3,804,415$0$0$3,338,645
92$4,058,937$0$0$3,562,549
93$4,335,213$0$0$3,805,616
94$4,635,331$0$0$4,069,687
95$4,961,586$0$0$4,356,783
96$5,316,503$0$0$4,669,131
97$5,702,860$0$0$5,009,179
98$6,123,713$0$0$5,379,622
99$6,582,427$0$0$5,783,424
100$7,082,703$0$0$6,223,849