Can I retire at age 66 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$77,872$77,178$76,502$75,841$75,196$74,226
2 years$38,551$37,833$37,137$36,462$35,808$34,831
3 years$25,445$24,724$24,030$23,362$22,718$21,766
4 years$18,894$18,175$17,488$16,831$16,203$15,283
5 years$14,964$14,249$13,571$12,928$12,317$11,431
6 years$12,345$11,636$10,967$10,338$9,746$8,896
7 years$10,475$9,772$9,114$8,500$7,926$7,112
8 years$9,073$8,376$7,729$7,130$6,575$5,797
9 years$7,983$7,293$6,657$6,073$5,537$4,795
10 years$7,112$6,428$5,804$5,235$4,718$4,010
11 years$6,399$5,723$5,110$4,556$4,058$3,384
12 years$5,806$5,136$4,535$3,996$3,516$2,876
13 years$5,305$4,642$4,052$3,528$3,066$2,459
14 years$4,875$4,219$3,640$3,132$2,688$2,112
15 years$4,503$3,854$3,287$2,793$2,367$1,822
16 years$4,178$3,536$2,980$2,501$2,092$1,576
17 years$3,891$3,257$2,712$2,247$1,855$1,368
18 years$3,637$3,009$2,475$2,025$1,649$1,190
19 years$3,409$2,789$2,266$1,830$1,470$1,038
20 years$3,205$2,592$2,080$1,657$1,313$906
21 years$3,020$2,414$1,913$1,504$1,175$793
22 years$2,853$2,254$1,763$1,368$1,053$694
23 years$2,700$2,108$1,628$1,245$945$609
24 years$2,560$1,975$1,505$1,136$850$535
25 years$2,431$1,853$1,394$1,037$765$470
26 years$2,313$1,742$1,293$949$689$413
27 years$2,203$1,639$1,201$868$621$363
28 years$2,102$1,545$1,116$795$560$320
29 years$2,007$1,457$1,039$729$506$282
30 years$1,920$1,376$968$669$457$248
31 years$1,837$1,301$902$615$413$219
32 years$1,761$1,231$842$565$374$193
33 years$1,689$1,166$786$520$338$170
34 years$1,621$1,105$734$478$306$150
35 years$1,558$1,048$687$440$277$133
36 years$1,498$995$642$405$251$117
37 years$1,441$945$601$373$228$103
38 years$1,388$898$563$344$207$91
39 years$1,337$854$527$317$187$81
40 years$1,289$812$494$293$170$71
41 years$1,244$773$464$270$154$63
42 years$1,201$736$435$249$140$56
43 years$1,160$702$408$230$127$49
44 years$1,120$669$383$212$115$43
45 years$1,083$638$360$196$105$38
46 years$1,048$608$338$181$95$34
47 years$1,014$581$317$167$86$30
48 years$981$554$298$155$78$26
49 years$950$529$280$143$71$23
50 years$921$506$263$132$65$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $943,000, adding $3,969 every year, while hoping to spend $58,735 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: 75/15/10 Blend
65$943,000$943,000$943,000$943,000
66$1,043,280$993,301$978,685$1,119,357
67$1,087,201$979,479$948,977$1,156,219
68$1,133,633$963,012$916,305$1,188,799
69$1,182,771$943,706$880,509$1,222,851
70$1,234,827$921,361$841,419$1,258,502
71$1,290,031$895,760$798,859$1,295,890
72$1,348,638$866,676$752,644$1,335,170
73$1,410,924$833,868$702,583$1,376,514
74$1,477,193$797,081$648,473$1,420,111
75$1,547,774$756,046$590,105$1,466,171
76$1,623,032$710,477$527,259$1,514,926
77$1,703,364$660,074$459,704$1,566,634
78$1,789,206$604,516$387,203$1,621,581
79$1,881,034$543,466$309,504$1,680,083
80$1,979,373$476,569$226,345$1,742,488
81$2,084,796$403,449$137,455$1,809,185
82$2,197,934$323,706$42,548$1,880,602
83$2,319,477$236,921$0$1,957,214
84$2,450,184$142,651$0$2,045,813
85$2,590,888$40,426$0$2,145,966
86$2,742,503$0$0$2,253,806
87$2,906,035$0$0$2,381,676
88$3,082,586$0$0$2,526,961
89$3,273,370$0$0$2,683,989
90$3,479,719$0$0$2,853,861
91$3,703,099$0$0$3,037,787
92$3,945,119$0$0$3,237,098
93$4,207,551$0$0$3,453,256
94$4,492,342$0$0$3,687,871
95$4,801,633$0$0$3,942,711
96$5,137,782$0$0$4,219,724
97$5,503,378$0$0$4,521,050
98$5,901,274$0$0$4,849,044
99$6,334,606$0$0$5,206,301
100$6,806,828$0$0$5,595,670