Can I retire at age 66 with 945,000?

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 $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%17.8%
1 years$78,037$77,342$76,664$76,002$75,356$72,973
2 years$38,632$37,913$37,215$36,539$35,884$33,504
3 years$25,499$24,776$24,081$23,411$22,766$20,465
4 years$18,934$18,213$17,525$16,866$16,237$14,032
5 years$14,996$14,279$13,600$12,955$12,343$10,240
6 years$12,371$11,660$10,991$10,360$9,767$7,768
7 years$10,497$9,792$9,133$8,518$7,943$6,047
8 years$9,092$8,394$7,746$7,145$6,589$4,796
9 years$8,000$7,308$6,671$6,086$5,549$3,856
10 years$7,127$6,442$5,816$5,246$4,728$3,133
11 years$6,413$5,735$5,121$4,566$4,066$2,566
12 years$5,818$5,147$4,544$4,005$3,524$2,115
13 years$5,316$4,652$4,060$3,536$3,073$1,752
14 years$4,885$4,228$3,648$3,139$2,694$1,458
15 years$4,513$3,863$3,294$2,799$2,372$1,217
16 years$4,187$3,544$2,986$2,506$2,096$1,019
17 years$3,900$3,264$2,717$2,252$1,859$855
18 years$3,645$3,016$2,481$2,029$1,653$718
19 years$3,417$2,795$2,271$1,834$1,473$605
20 years$3,212$2,597$2,084$1,661$1,316$510
21 years$3,027$2,419$1,917$1,507$1,177$430
22 years$2,859$2,258$1,767$1,370$1,055$363
23 years$2,705$2,112$1,631$1,248$947$307
24 years$2,565$1,979$1,509$1,138$852$260
25 years$2,436$1,857$1,397$1,040$766$220
26 years$2,318$1,745$1,296$951$690$186
27 years$2,208$1,643$1,203$870$622$158
28 years$2,106$1,548$1,119$797$561$134
29 years$2,012$1,460$1,041$731$507$113
30 years$1,924$1,379$970$671$458$96
31 years$1,841$1,304$904$616$414$81
32 years$1,764$1,233$843$566$375$69
33 years$1,692$1,168$788$521$339$59
34 years$1,625$1,107$736$479$307$50
35 years$1,561$1,050$688$441$278$42
36 years$1,501$997$644$406$252$36
37 years$1,444$947$602$374$228$30
38 years$1,391$900$564$345$207$26
39 years$1,340$855$529$318$188$22
40 years$1,292$814$495$293$170$19
41 years$1,246$775$464$271$154$16
42 years$1,203$738$436$250$140$13
43 years$1,162$703$409$231$127$11
44 years$1,123$670$384$213$115$10
45 years$1,085$639$360$197$105$8
46 years$1,050$610$338$182$95$7
47 years$1,016$582$318$168$86$6
48 years$983$555$299$155$78$5
49 years$952$530$281$143$71$4
50 years$923$507$264$132$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $945,000, adding $3,710 every year, while hoping to spend $40,509 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: 60/33/7 Blend
65$945,000$945,000$945,000$945,000
66$1,045,217$995,132$980,484$1,106,210
67$1,108,728$1,000,792$970,229$1,153,162
68$1,177,359$1,005,372$958,273$1,199,370
69$1,251,590$1,008,776$944,516$1,248,746
70$1,331,948$1,010,902$928,853$1,301,597
71$1,419,013$1,011,642$911,176$1,358,260
72$1,513,421$1,010,881$891,369$1,419,109
73$1,615,874$1,008,498$869,313$1,484,557
74$1,727,141$1,004,363$844,883$1,555,058
75$1,848,071$998,338$817,948$1,631,117
76$1,979,595$990,277$788,371$1,713,289
77$2,122,740$980,027$756,008$1,802,190
78$2,278,635$967,424$720,709$1,898,499
79$2,448,521$952,293$682,318$2,002,964
80$2,633,766$934,451$640,671$2,116,416
81$2,835,873$913,702$595,597$2,239,768
82$3,056,500$889,841$546,917$2,374,032
83$3,297,469$862,649$494,445$2,520,324
84$3,560,787$831,895$437,985$2,679,876
85$3,848,662$797,333$377,333$2,854,051
86$4,163,529$758,706$312,276$3,044,351
87$4,508,064$715,737$242,593$3,252,438
88$4,885,217$668,139$168,050$3,480,143
89$5,298,236$615,605$88,407$3,729,491
90$5,750,697$557,810$3,409$4,002,716
91$6,246,538$494,413$0$4,302,285
92$6,790,096$425,051$0$4,637,441
93$7,386,150$349,342$0$5,005,366
94$8,039,960$266,883$0$5,409,142
95$8,757,322$177,246$0$5,852,456
96$9,544,620$79,982$0$6,339,371
97$10,408,885$0$0$6,874,372
98$11,357,862$0$0$7,471,626
99$12,400,084$0$0$8,159,540
100$13,544,949$0$0$8,915,284