Can I retire at age 66 with 941,000?

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 $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%17.1%
1 years$77,707$77,015$76,339$75,680$75,037$72,868
2 years$38,469$37,752$37,058$36,385$35,732$33,564
3 years$25,391$24,672$23,979$23,312$22,670$20,571
4 years$18,854$18,136$17,451$16,795$16,168$14,155
5 years$14,932$14,219$13,542$12,900$12,291$10,368
6 years$12,319$11,611$10,944$10,316$9,725$7,895
7 years$10,453$9,751$9,095$8,482$7,909$6,171
8 years$9,054$8,358$7,713$7,115$6,562$4,914
9 years$7,966$7,277$6,643$6,060$5,526$3,968
10 years$7,097$6,415$5,792$5,224$4,708$3,238
11 years$6,386$5,711$5,099$4,547$4,049$2,664
12 years$5,794$5,125$4,525$3,988$3,509$2,206
13 years$5,293$4,632$4,043$3,521$3,060$1,837
14 years$4,865$4,210$3,633$3,125$2,682$1,535
15 years$4,493$3,846$3,280$2,787$2,362$1,288
16 years$4,169$3,529$2,974$2,496$2,087$1,084
17 years$3,883$3,250$2,706$2,242$1,851$914
18 years$3,629$3,003$2,470$2,021$1,646$772
19 years$3,402$2,783$2,261$1,826$1,467$653
20 years$3,198$2,586$2,075$1,654$1,310$554
21 years$3,014$2,409$1,909$1,501$1,172$470
22 years$2,847$2,249$1,759$1,365$1,051$399
23 years$2,694$2,103$1,624$1,243$943$339
24 years$2,554$1,971$1,502$1,134$848$288
25 years$2,426$1,849$1,391$1,035$763$246
26 years$2,308$1,738$1,290$947$687$209
27 years$2,199$1,636$1,198$866$620$178
28 years$2,097$1,541$1,114$794$559$152
29 years$2,003$1,454$1,037$728$505$129
30 years$1,915$1,373$966$668$456$110
31 years$1,834$1,298$900$614$412$94
32 years$1,757$1,228$840$564$373$80
33 years$1,685$1,163$784$519$338$68
34 years$1,618$1,102$733$477$306$58
35 years$1,554$1,046$685$439$277$50
36 years$1,495$992$641$404$251$43
37 years$1,438$943$600$373$227$36
38 years$1,385$896$562$344$206$31
39 years$1,334$852$526$317$187$26
40 years$1,286$810$493$292$170$23
41 years$1,241$771$463$270$154$19
42 years$1,198$735$434$249$140$16
43 years$1,157$700$407$230$127$14
44 years$1,118$667$382$212$115$12
45 years$1,081$636$359$196$104$10
46 years$1,045$607$337$181$95$9
47 years$1,012$579$317$167$86$7
48 years$979$553$298$154$78$6
49 years$948$528$280$143$71$5
50 years$919$504$263$132$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $941,000, adding $2,958 every year, while hoping to spend $44,391 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: 57/27/16 Blend
65$941,000$941,000$941,000$941,000
66$1,040,033$990,160$975,575$1,094,816
67$1,098,885$991,446$961,025$1,133,600
68$1,162,252$991,308$944,500$1,170,746
69$1,230,547$989,628$925,886$1,210,209
70$1,304,226$986,282$905,066$1,252,220
71$1,383,787$981,140$881,916$1,297,037
72$1,469,779$974,062$856,306$1,344,941
73$1,562,805$964,899$828,100$1,396,248
74$1,663,527$953,495$797,158$1,451,307
75$1,772,674$939,684$763,330$1,510,503
76$1,891,048$923,290$726,463$1,574,265
77$2,019,529$904,125$686,394$1,643,066
78$2,159,086$881,992$642,953$1,717,431
79$2,310,786$856,683$595,965$1,797,942
80$2,475,800$827,974$545,243$1,885,241
81$2,655,419$795,632$490,596$1,980,041
82$2,851,062$759,409$431,822$2,083,130
83$3,064,292$719,041$368,710$2,195,381
84$3,296,828$674,252$301,039$2,317,758
85$3,550,561$624,748$228,581$2,451,328
86$3,827,575$570,217$151,096$2,597,274
87$4,130,163$510,333$68,332$2,756,901
88$4,460,848$444,748$0$2,931,652
89$4,822,410$373,095$0$3,126,538
90$5,217,907$294,989$0$3,352,583
91$5,650,709$210,018$0$3,600,107
92$6,124,524$117,752$0$3,871,320
93$6,643,438$17,735$0$4,168,656
94$7,211,949$0$0$4,494,806
95$7,835,011$0$0$4,879,629
96$8,518,080$0$0$5,307,373
97$9,267,165$0$0$5,776,543
98$10,088,884$0$0$6,291,295
99$10,990,526$0$0$6,856,206
100$11,980,123$0$0$7,476,318