Can I retire at age 66 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$77,955$77,260$76,583$75,922$75,276$73,546
2 years$38,591$37,873$37,176$36,501$35,846$34,112
3 years$25,472$24,750$24,055$23,386$22,742$21,059
4 years$18,914$18,194$17,506$16,849$16,220$14,601
5 years$14,980$14,264$13,586$12,941$12,330$10,779
6 years$12,358$11,648$10,979$10,349$9,756$8,275
7 years$10,486$9,782$9,124$8,509$7,934$6,524
8 years$9,082$8,385$7,738$7,138$6,582$5,241
9 years$7,992$7,301$6,664$6,080$5,543$4,271
10 years$7,119$6,435$5,810$5,241$4,723$3,518
11 years$6,406$5,729$5,115$4,561$4,062$2,922
12 years$5,812$5,142$4,540$4,001$3,520$2,444
13 years$5,310$4,647$4,056$3,532$3,070$2,055
14 years$4,880$4,224$3,644$3,135$2,691$1,736
15 years$4,508$3,858$3,290$2,796$2,369$1,471
16 years$4,182$3,540$2,983$2,504$2,094$1,251
17 years$3,895$3,260$2,714$2,250$1,857$1,067
18 years$3,641$3,013$2,478$2,027$1,651$911
19 years$3,413$2,792$2,268$1,832$1,471$780
20 years$3,208$2,595$2,082$1,659$1,314$669
21 years$3,023$2,417$1,915$1,506$1,176$574
22 years$2,856$2,256$1,765$1,369$1,054$493
23 years$2,703$2,110$1,630$1,247$946$424
24 years$2,562$1,977$1,507$1,137$851$365
25 years$2,434$1,855$1,396$1,039$765$314
26 years$2,315$1,744$1,295$950$689$271
27 years$2,206$1,641$1,202$869$622$234
28 years$2,104$1,546$1,118$796$561$202
29 years$2,010$1,459$1,040$730$506$174
30 years$1,922$1,378$969$670$458$150
31 years$1,839$1,302$903$616$414$130
32 years$1,763$1,232$843$566$374$112
33 years$1,691$1,167$787$520$339$97
34 years$1,623$1,106$735$479$307$84
35 years$1,559$1,049$687$441$278$72
36 years$1,499$996$643$406$252$62
37 years$1,443$946$602$374$228$54
38 years$1,389$899$564$345$207$47
39 years$1,339$855$528$318$188$40
40 years$1,291$813$495$293$170$35
41 years$1,245$774$464$270$154$30
42 years$1,202$737$435$250$140$26
43 years$1,161$702$408$230$127$23
44 years$1,122$669$383$213$115$20
45 years$1,084$638$360$196$105$17
46 years$1,049$609$338$181$95$15
47 years$1,015$581$318$168$86$13
48 years$982$555$298$155$78$11
49 years$951$530$281$143$71$9
50 years$922$506$264$132$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $944,000, adding $6,450 every year, while hoping to spend $26,384 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: 68/19/13 Blend
65$944,000$944,000$944,000$944,000
66$1,046,941$996,909$982,277$1,114,651
67$1,125,657$1,017,685$987,111$1,181,311
68$1,211,517$1,038,595$991,223$1,250,445
69$1,305,223$1,059,618$994,560$1,325,378
70$1,407,546$1,080,729$997,068$1,406,678
71$1,519,336$1,101,905$998,690$1,494,968
72$1,641,527$1,123,117$999,364$1,590,934
73$1,775,149$1,144,336$999,029$1,695,335
74$1,921,335$1,165,529$997,618$1,809,004
75$2,081,333$1,186,663$995,060$1,932,860
76$2,256,518$1,207,698$991,284$2,067,916
77$2,448,403$1,228,595$986,212$2,215,288
78$2,658,655$1,249,311$979,764$2,376,204
79$2,889,108$1,269,797$971,857$2,552,021
80$3,141,784$1,290,005$962,401$2,744,230
81$3,418,910$1,309,879$951,306$2,954,477
82$3,722,938$1,329,362$938,474$3,184,576
83$4,056,569$1,348,392$923,803$3,436,524
84$4,422,777$1,366,902$907,189$3,712,524
85$4,824,841$1,384,820$888,520$4,015,002
86$5,266,369$1,402,071$867,681$4,346,632
87$5,751,340$1,418,573$844,549$4,710,363
88$6,284,133$1,434,240$818,998$5,109,443
89$6,869,575$1,448,978$790,895$5,547,453
90$7,512,983$1,462,689$760,101$6,028,337
91$8,220,213$1,475,267$726,470$6,556,446
92$8,997,720$1,486,600$689,852$7,136,572
93$9,852,612$1,496,568$650,087$7,773,997
94$10,792,723$1,505,045$607,009$8,474,545
95$11,826,682$1,511,893$560,445$9,244,631
96$12,963,998$1,516,970$510,214$10,091,328
97$14,215,146$1,520,122$456,126$11,022,430
98$15,591,669$1,521,186$397,985$12,046,528
99$17,106,285$1,519,989$335,583$13,173,090
100$18,773,005$1,516,348$268,704$14,412,550