Can I retire at age 66 with 942,000?

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 $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%14.7%
1 years$77,789$77,097$76,421$75,761$75,116$73,660
2 years$38,510$37,792$37,097$36,423$35,770$34,308
3 years$25,418$24,698$24,004$23,337$22,694$21,273
4 years$18,874$18,155$17,469$16,813$16,185$14,816
5 years$14,948$14,234$13,557$12,914$12,304$10,990
6 years$12,332$11,623$10,956$10,327$9,736$8,479
7 years$10,464$9,761$9,104$8,491$7,918$6,718
8 years$9,063$8,367$7,721$7,123$6,568$5,426
9 years$7,975$7,285$6,650$6,067$5,532$4,445
10 years$7,104$6,421$5,798$5,230$4,713$3,681
11 years$6,393$5,717$5,104$4,551$4,054$3,076
12 years$5,800$5,131$4,530$3,992$3,513$2,587
13 years$5,299$4,637$4,047$3,525$3,063$2,189
14 years$4,870$4,215$3,636$3,129$2,685$1,860
15 years$4,498$3,850$3,283$2,790$2,364$1,587
16 years$4,173$3,533$2,977$2,498$2,089$1,358
17 years$3,887$3,253$2,709$2,245$1,853$1,165
18 years$3,633$3,006$2,473$2,023$1,647$1,002
19 years$3,406$2,786$2,264$1,828$1,468$863
20 years$3,202$2,589$2,077$1,656$1,312$745
21 years$3,017$2,412$1,911$1,503$1,174$644
22 years$2,850$2,251$1,761$1,366$1,052$557
23 years$2,697$2,105$1,626$1,244$944$483
24 years$2,557$1,973$1,504$1,135$849$418
25 years$2,429$1,851$1,393$1,036$764$363
26 years$2,310$1,740$1,292$948$688$315
27 years$2,201$1,637$1,200$867$620$274
28 years$2,100$1,543$1,115$795$560$238
29 years$2,005$1,456$1,038$729$505$207
30 years$1,918$1,375$967$669$457$180
31 years$1,836$1,299$901$614$413$156
32 years$1,759$1,230$841$564$373$136
33 years$1,687$1,164$785$519$338$118
34 years$1,619$1,104$734$478$306$103
35 years$1,556$1,047$686$440$277$90
36 years$1,496$994$642$405$251$78
37 years$1,440$944$600$373$228$68
38 years$1,386$897$562$344$206$59
39 years$1,336$853$527$317$187$52
40 years$1,288$811$494$292$170$45
41 years$1,242$772$463$270$154$39
42 years$1,199$736$434$249$140$34
43 years$1,158$701$408$230$127$30
44 years$1,119$668$383$212$115$26
45 years$1,082$637$359$196$104$23
46 years$1,047$608$337$181$95$20
47 years$1,013$580$317$167$86$17
48 years$980$554$298$155$78$15
49 years$949$529$280$143$71$13
50 years$920$505$263$132$65$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $942,000, adding $2,711 every year, while hoping to spend $32,649 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: 41/34/25 Blend
65$942,000$942,000$942,000$942,000
66$1,040,880$990,954$976,353$1,075,803
67$1,112,312$1,004,773$974,323$1,114,990
68$1,189,935$1,018,174$971,130$1,154,090
69$1,274,347$1,031,103$966,702$1,195,772
70$1,366,205$1,043,502$960,961$1,240,291
71$1,466,232$1,055,307$953,826$1,287,933
72$1,575,222$1,066,452$945,214$1,339,009
73$1,694,052$1,076,865$935,036$1,393,868
74$1,823,684$1,086,470$923,199$1,452,894
75$1,965,179$1,095,186$909,605$1,516,512
76$2,119,704$1,102,927$894,154$1,585,192
77$2,288,544$1,109,601$876,738$1,659,454
78$2,473,113$1,115,110$857,247$1,739,875
79$2,674,970$1,119,349$835,564$1,827,090
80$2,895,828$1,122,209$811,566$1,921,804
81$3,137,577$1,123,571$785,128$2,024,795
82$3,402,294$1,123,310$756,114$2,136,923
83$3,692,270$1,121,294$724,386$2,259,140
84$4,010,026$1,117,383$689,797$2,392,497
85$4,358,340$1,111,425$652,196$2,538,156
86$4,740,269$1,103,263$611,424$2,697,401
87$5,159,182$1,092,729$567,312$2,871,652
88$5,618,790$1,079,644$519,688$3,062,476
89$6,123,179$1,063,819$468,370$3,271,606
90$6,676,850$1,045,054$413,168$3,500,955
91$7,284,763$1,023,135$353,883$3,752,637
92$7,952,380$997,840$290,309$4,028,985
93$8,685,718$968,929$222,230$4,332,579
94$9,491,405$936,150$149,418$4,666,265
95$10,376,744$899,238$71,640$5,033,187
96$11,349,780$857,909$0$5,436,815
97$12,419,376$811,865$0$5,884,013
98$13,595,296$760,790$0$6,396,569
99$14,888,298$704,350$0$6,960,096
100$16,310,234$642,193$0$7,579,820