Can I retire at age 66 with 945,000?

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 $945,000?

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$78,037$77,342$76,664$76,002$75,356$74,383
2 years$38,632$37,913$37,215$36,539$35,884$34,905
3 years$25,499$24,776$24,081$23,411$22,766$21,812
4 years$18,934$18,213$17,525$16,866$16,237$15,315
5 years$14,996$14,279$13,600$12,955$12,343$11,456
6 years$12,371$11,660$10,991$10,360$9,767$8,915
7 years$10,497$9,792$9,133$8,518$7,943$7,127
8 years$9,092$8,394$7,746$7,145$6,589$5,809
9 years$8,000$7,308$6,671$6,086$5,549$4,805
10 years$7,127$6,442$5,816$5,246$4,728$4,019
11 years$6,413$5,735$5,121$4,566$4,066$3,391
12 years$5,818$5,147$4,544$4,005$3,524$2,882
13 years$5,316$4,652$4,060$3,536$3,073$2,464
14 years$4,885$4,228$3,648$3,139$2,694$2,117
15 years$4,513$3,863$3,294$2,799$2,372$1,826
16 years$4,187$3,544$2,986$2,506$2,096$1,580
17 years$3,900$3,264$2,717$2,252$1,859$1,371
18 years$3,645$3,016$2,481$2,029$1,653$1,193
19 years$3,417$2,795$2,271$1,834$1,473$1,040
20 years$3,212$2,597$2,084$1,661$1,316$908
21 years$3,027$2,419$1,917$1,507$1,177$794
22 years$2,859$2,258$1,767$1,370$1,055$696
23 years$2,705$2,112$1,631$1,248$947$610
24 years$2,565$1,979$1,509$1,138$852$536
25 years$2,436$1,857$1,397$1,040$766$471
26 years$2,318$1,745$1,296$951$690$414
27 years$2,208$1,643$1,203$870$622$364
28 years$2,106$1,548$1,119$797$561$321
29 years$2,012$1,460$1,041$731$507$282
30 years$1,924$1,379$970$671$458$249
31 years$1,841$1,304$904$616$414$219
32 years$1,764$1,233$843$566$375$193
33 years$1,692$1,168$788$521$339$171
34 years$1,625$1,107$736$479$307$151
35 years$1,561$1,050$688$441$278$133
36 years$1,501$997$644$406$252$117
37 years$1,444$947$602$374$228$104
38 years$1,391$900$564$345$207$91
39 years$1,340$855$529$318$188$81
40 years$1,292$814$495$293$170$71
41 years$1,246$775$464$271$154$63
42 years$1,203$738$436$250$140$56
43 years$1,162$703$409$231$127$49
44 years$1,123$670$384$213$115$43
45 years$1,085$639$360$197$105$38
46 years$1,050$610$338$182$95$34
47 years$1,016$582$318$168$86$30
48 years$983$555$299$155$78$27
49 years$952$530$281$143$71$23
50 years$923$507$264$132$65$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $945,000, adding $2,848 every year, while hoping to spend $56,501 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: 63/27/10 Blend
65$945,000$945,000$945,000$945,000
66$1,044,328$994,243$979,595$1,107,638
67$1,090,733$982,844$952,295$1,138,902
68$1,139,977$968,993$922,187$1,166,209
69$1,192,291$952,510$889,116$1,194,600
70$1,247,926$933,205$852,923$1,224,180
71$1,307,158$910,875$813,439$1,255,065
72$1,370,287$885,307$770,489$1,287,386
73$1,437,645$856,275$723,888$1,321,290
74$1,509,592$823,540$673,446$1,356,939
75$1,586,524$786,848$618,960$1,394,517
76$1,668,877$745,930$560,223$1,434,228
77$1,757,126$700,505$497,014$1,476,300
78$1,851,795$650,271$429,106$1,520,987
79$1,953,456$594,913$356,259$1,568,574
80$2,062,740$534,094$278,225$1,619,377
81$2,180,336$467,461$194,742$1,673,748
82$2,307,003$394,640$105,539$1,732,080
83$2,443,575$315,236$10,332$1,794,811
84$2,590,968$228,830$0$1,862,428
85$2,750,185$134,982$0$1,945,210
86$2,922,334$33,225$0$2,035,831
87$3,108,628$0$0$2,133,891
88$3,310,403$0$0$2,263,027
89$3,529,127$0$0$2,413,768
90$3,766,414$0$0$2,577,362
91$4,024,040$0$0$2,755,039
92$4,303,958$0$0$2,948,156
93$4,608,315$0$0$3,158,202
94$4,939,476$0$0$3,386,817
95$5,300,040$0$0$3,635,804
96$5,692,868$0$0$3,907,150
97$6,121,110$0$0$4,203,038
98$6,588,232$0$0$4,525,874
99$7,098,047$0$0$4,878,303
100$7,654,754$0$0$5,263,241