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%19.8%
1 years$77,789$77,097$76,421$75,761$75,116$72,165
2 years$38,510$37,792$37,097$36,423$35,770$32,832
3 years$25,418$24,698$24,004$23,337$22,694$19,863
4 years$18,874$18,155$17,469$16,813$16,185$13,482
5 years$14,948$14,234$13,557$12,914$12,304$9,736
6 years$12,332$11,623$10,956$10,327$9,736$7,304
7 years$10,464$9,761$9,104$8,491$7,918$5,622
8 years$9,063$8,367$7,721$7,123$6,568$4,406
9 years$7,975$7,285$6,650$6,067$5,532$3,500
10 years$7,104$6,421$5,798$5,230$4,713$2,808
11 years$6,393$5,717$5,104$4,551$4,054$2,270
12 years$5,800$5,131$4,530$3,992$3,513$1,846
13 years$5,299$4,637$4,047$3,525$3,063$1,509
14 years$4,870$4,215$3,636$3,129$2,685$1,238
15 years$4,498$3,850$3,283$2,790$2,364$1,019
16 years$4,173$3,533$2,977$2,498$2,089$840
17 years$3,887$3,253$2,709$2,245$1,853$695
18 years$3,633$3,006$2,473$2,023$1,647$575
19 years$3,406$2,786$2,264$1,828$1,468$477
20 years$3,202$2,589$2,077$1,656$1,312$396
21 years$3,017$2,412$1,911$1,503$1,174$329
22 years$2,850$2,251$1,761$1,366$1,052$274
23 years$2,697$2,105$1,626$1,244$944$228
24 years$2,557$1,973$1,504$1,135$849$190
25 years$2,429$1,851$1,393$1,036$764$158
26 years$2,310$1,740$1,292$948$688$132
27 years$2,201$1,637$1,200$867$620$110
28 years$2,100$1,543$1,115$795$560$91
29 years$2,005$1,456$1,038$729$505$76
30 years$1,918$1,375$967$669$457$64
31 years$1,836$1,299$901$614$413$53
32 years$1,759$1,230$841$564$373$44
33 years$1,687$1,164$785$519$338$37
34 years$1,619$1,104$734$478$306$31
35 years$1,556$1,047$686$440$277$26
36 years$1,496$994$642$405$251$21
37 years$1,440$944$600$373$228$18
38 years$1,386$897$562$344$206$15
39 years$1,336$853$527$317$187$12
40 years$1,288$811$494$292$170$10
41 years$1,242$772$463$270$154$9
42 years$1,199$736$434$249$140$7
43 years$1,158$701$408$230$127$6
44 years$1,119$668$383$212$115$5
45 years$1,082$637$359$196$104$4
46 years$1,047$608$337$181$95$4
47 years$1,013$580$317$167$86$3
48 years$980$554$298$155$78$2
49 years$949$529$280$143$71$2
50 years$920$505$263$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $942,000, adding $3,449 every year, while hoping to spend $48,732 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: 75/19/6 Blend
65$942,000$942,000$942,000$942,000
66$1,041,642$991,716$977,115$1,118,854
67$1,096,039$988,459$957,998$1,166,845
68$1,154,351$983,410$936,607$1,212,850
69$1,216,926$976,429$912,814$1,261,850
70$1,284,146$967,367$886,487$1,314,121
71$1,356,430$956,069$857,486$1,369,971
72$1,434,238$942,369$825,664$1,429,738
73$1,518,076$926,090$790,868$1,493,795
74$1,608,497$907,046$752,940$1,562,553
75$1,706,112$885,039$711,712$1,636,467
76$1,811,590$859,861$667,009$1,716,039
77$1,925,668$831,290$618,650$1,801,821
78$2,049,155$799,092$566,443$1,894,423
79$2,182,940$763,019$510,190$1,994,521
80$2,328,001$722,808$449,683$2,102,856
81$2,485,415$678,183$384,705$2,220,249
82$2,656,363$628,850$315,029$2,347,606
83$2,842,147$574,499$240,417$2,485,926
84$3,044,199$514,802$160,624$2,636,310
85$3,264,092$449,413$75,390$2,799,977
86$3,503,560$377,965$0$2,978,269
87$3,764,510$300,072$0$3,173,663
88$4,049,040$215,325$0$3,392,015
89$4,359,459$123,292$0$3,630,314
90$4,698,309$23,519$0$3,890,571
91$5,068,389$0$0$4,175,004
92$5,472,779$0$0$4,503,718
93$5,914,870$0$0$4,868,491
94$6,398,397$0$0$5,267,491
95$6,927,469$0$0$5,704,115
96$7,506,615$0$0$6,182,104
97$8,140,819$0$0$6,705,577
98$8,835,570$0$0$7,279,070
99$9,596,914$0$0$7,907,580
100$10,431,509$0$0$8,596,608