Can I retire at age 66 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$77,789$77,097$76,421$75,761$75,116$74,209
2 years$38,510$37,792$37,097$36,423$35,770$34,856
3 years$25,418$24,698$24,004$23,337$22,694$21,803
4 years$18,874$18,155$17,469$16,813$16,185$15,324
5 years$14,948$14,234$13,557$12,914$12,304$11,474
6 years$12,332$11,623$10,956$10,327$9,736$8,939
7 years$10,464$9,761$9,104$8,491$7,918$7,154
8 years$9,063$8,367$7,721$7,123$6,568$5,838
9 years$7,975$7,285$6,650$6,067$5,532$4,834
10 years$7,104$6,421$5,798$5,230$4,713$4,048
11 years$6,393$5,717$5,104$4,551$4,054$3,420
12 years$5,800$5,131$4,530$3,992$3,513$2,911
13 years$5,299$4,637$4,047$3,525$3,063$2,492
14 years$4,870$4,215$3,636$3,129$2,685$2,143
15 years$4,498$3,850$3,283$2,790$2,364$1,851
16 years$4,173$3,533$2,977$2,498$2,089$1,604
17 years$3,887$3,253$2,709$2,245$1,853$1,394
18 years$3,633$3,006$2,473$2,023$1,647$1,215
19 years$3,406$2,786$2,264$1,828$1,468$1,060
20 years$3,202$2,589$2,077$1,656$1,312$928
21 years$3,017$2,412$1,911$1,503$1,174$813
22 years$2,850$2,251$1,761$1,366$1,052$713
23 years$2,697$2,105$1,626$1,244$944$626
24 years$2,557$1,973$1,504$1,135$849$550
25 years$2,429$1,851$1,393$1,036$764$484
26 years$2,310$1,740$1,292$948$688$427
27 years$2,201$1,637$1,200$867$620$376
28 years$2,100$1,543$1,115$795$560$331
29 years$2,005$1,456$1,038$729$505$292
30 years$1,918$1,375$967$669$457$258
31 years$1,836$1,299$901$614$413$228
32 years$1,759$1,230$841$564$373$201
33 years$1,687$1,164$785$519$338$178
34 years$1,619$1,104$734$478$306$157
35 years$1,556$1,047$686$440$277$139
36 years$1,496$994$642$405$251$123
37 years$1,440$944$600$373$228$109
38 years$1,386$897$562$344$206$96
39 years$1,336$853$527$317$187$85
40 years$1,288$811$494$292$170$75
41 years$1,242$772$463$270$154$67
42 years$1,199$736$434$249$140$59
43 years$1,158$701$408$230$127$52
44 years$1,119$668$383$212$115$46
45 years$1,082$637$359$196$104$41
46 years$1,047$608$337$181$95$36
47 years$1,013$580$317$167$86$32
48 years$980$554$298$155$78$28
49 years$949$529$280$143$71$25
50 years$920$505$263$132$65$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $942,000, adding $2,066 every year, while hoping to spend $52,120 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: 56/17/27 Blend
65$942,000$942,000$942,000$942,000
66$1,040,215$990,289$975,688$1,090,638
67$1,090,862$983,358$952,918$1,118,593
68$1,144,928$974,340$927,639$1,143,426
69$1,202,706$963,079$899,711$1,169,415
70$1,264,520$949,407$868,989$1,196,689
71$1,330,721$933,149$835,320$1,225,391
72$1,401,697$914,115$798,546$1,255,684
73$1,477,873$892,110$758,500$1,287,747
74$1,559,715$866,922$715,008$1,321,782
75$1,647,734$838,329$667,889$1,358,014
76$1,742,492$806,097$616,953$1,396,697
77$1,844,607$769,976$562,001$1,438,110
78$1,954,755$729,703$502,827$1,482,568
79$2,073,681$685,000$439,213$1,530,420
80$2,202,203$635,572$370,933$1,582,055
81$2,341,220$581,107$297,752$1,637,906
82$2,491,720$521,277$219,422$1,698,457
83$2,654,790$455,734$135,687$1,764,243
84$2,831,624$384,110$46,278$1,835,863
85$3,023,535$306,017$0$1,913,978
86$3,231,968$221,044$0$2,013,483
87$3,458,512$128,759$0$2,136,186
88$3,704,916$28,704$0$2,269,740
89$3,973,102$0$0$2,415,243
90$4,265,188$0$0$2,588,802
91$4,583,501$0$0$2,783,874
92$4,930,605$0$0$2,996,671
93$5,309,321$0$0$3,228,932
94$5,722,753$0$0$3,482,571
95$6,174,320$0$0$3,759,697
96$6,667,783$0$0$4,062,629
97$7,207,286$0$0$4,393,923
98$7,797,388$0$0$4,756,391
99$8,443,113$0$0$5,153,131
100$9,149,988$0$0$5,587,554