Can I retire at age 66 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$77,707$77,015$76,339$75,680$75,037$74,626
2 years$38,469$37,752$37,058$36,385$35,732$35,318
3 years$25,391$24,672$23,979$23,312$22,670$22,265
4 years$18,854$18,136$17,451$16,795$16,168$15,776
5 years$14,932$14,219$13,542$12,900$12,291$11,911
6 years$12,319$11,611$10,944$10,316$9,725$9,360
7 years$10,453$9,751$9,095$8,482$7,909$7,558
8 years$9,054$8,358$7,713$7,115$6,562$6,224
9 years$7,966$7,277$6,643$6,060$5,526$5,202
10 years$7,097$6,415$5,792$5,224$4,708$4,399
11 years$6,386$5,711$5,099$4,547$4,049$3,753
12 years$5,794$5,125$4,525$3,988$3,509$3,226
13 years$5,293$4,632$4,043$3,521$3,060$2,791
14 years$4,865$4,210$3,633$3,125$2,682$2,426
15 years$4,493$3,846$3,280$2,787$2,362$2,118
16 years$4,169$3,529$2,974$2,496$2,087$1,855
17 years$3,883$3,250$2,706$2,242$1,851$1,631
18 years$3,629$3,003$2,470$2,021$1,646$1,437
19 years$3,402$2,783$2,261$1,826$1,467$1,269
20 years$3,198$2,586$2,075$1,654$1,310$1,123
21 years$3,014$2,409$1,909$1,501$1,172$995
22 years$2,847$2,249$1,759$1,365$1,051$884
23 years$2,694$2,103$1,624$1,243$943$786
24 years$2,554$1,971$1,502$1,134$848$699
25 years$2,426$1,849$1,391$1,035$763$623
26 years$2,308$1,738$1,290$947$687$556
27 years$2,199$1,636$1,198$866$620$496
28 years$2,097$1,541$1,114$794$559$443
29 years$2,003$1,454$1,037$728$505$396
30 years$1,915$1,373$966$668$456$354
31 years$1,834$1,298$900$614$412$317
32 years$1,757$1,228$840$564$373$283
33 years$1,685$1,163$784$519$338$254
34 years$1,618$1,102$733$477$306$227
35 years$1,554$1,046$685$439$277$204
36 years$1,495$992$641$404$251$183
37 years$1,438$943$600$373$227$164
38 years$1,385$896$562$344$206$147
39 years$1,334$852$526$317$187$132
40 years$1,286$810$493$292$170$118
41 years$1,241$771$463$270$154$106
42 years$1,198$735$434$249$140$95
43 years$1,157$700$407$230$127$85
44 years$1,118$667$382$212$115$77
45 years$1,081$636$359$196$104$69
46 years$1,045$607$337$181$95$62
47 years$1,012$579$317$167$86$55
48 years$979$553$298$154$78$50
49 years$948$528$280$143$71$45
50 years$919$504$263$132$64$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $941,000, adding $4,542 every year, while hoping to spend $52,568 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: 55/31/14 Blend
65$941,000$941,000$941,000$941,000
66$1,041,667$991,794$977,209$1,094,912
67$1,091,985$984,460$954,013$1,124,275
68$1,145,674$975,005$928,279$1,150,151
69$1,203,021$963,269$899,865$1,177,120
70$1,264,344$949,083$868,625$1,205,297
71$1,329,988$932,269$834,404$1,234,811
72$1,400,332$912,636$797,043$1,265,808
73$1,475,795$889,984$756,372$1,298,452
74$1,556,832$864,100$712,217$1,332,923
75$1,643,947$834,758$664,394$1,369,429
76$1,737,689$801,720$612,710$1,408,196
77$1,838,663$764,735$556,967$1,449,480
78$1,947,534$723,535$496,953$1,493,569
79$2,065,033$677,838$432,450$1,540,779
80$2,191,959$627,345$363,231$1,591,469
81$2,329,196$571,741$289,055$1,646,034
82$2,477,710$510,694$209,676$1,704,918
83$2,638,568$443,849$124,831$1,768,613
84$2,812,940$370,835$34,250$1,837,670
85$3,002,112$291,258$0$1,912,700
86$3,207,501$204,703$0$2,003,706
87$3,430,663$110,731$0$2,108,187
88$3,673,312$8,878$0$2,221,910
89$3,937,332$0$0$2,345,857
90$4,224,796$0$0$2,515,687
91$4,537,985$0$0$2,704,095
92$4,879,412$0$0$2,909,573
93$5,251,838$0$0$3,133,794
94$5,658,306$0$0$3,378,599
95$6,102,163$0$0$3,646,018
96$6,587,094$0$0$3,938,281
97$7,117,158$0$0$4,257,847
98$7,696,821$0$0$4,607,421
99$8,331,002$0$0$4,989,983
100$9,025,116$0$0$5,408,813