Can I retire at age 66 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$78,120$77,424$76,745$76,082$75,435$72,846
2 years$38,673$37,953$37,255$36,578$35,922$33,339
3 years$25,526$24,803$24,106$23,436$22,790$20,296
4 years$18,954$18,233$17,543$16,884$16,254$13,867
5 years$15,011$14,295$13,614$12,969$12,356$10,082
6 years$12,384$11,673$11,002$10,371$9,777$7,618
7 years$10,508$9,803$9,143$8,527$7,951$5,908
8 years$9,102$8,403$7,754$7,153$6,596$4,666
9 years$8,008$7,316$6,679$6,093$5,555$3,736
10 years$7,134$6,449$5,822$5,252$4,733$3,022
11 years$6,420$5,741$5,126$4,571$4,071$2,464
12 years$5,825$5,153$4,549$4,009$3,528$2,021
13 years$5,321$4,657$4,064$3,539$3,076$1,667
14 years$4,890$4,233$3,652$3,142$2,697$1,380
15 years$4,517$3,867$3,297$2,802$2,374$1,146
16 years$4,191$3,548$2,989$2,509$2,098$955
17 years$3,904$3,267$2,720$2,254$1,861$797
18 years$3,648$3,019$2,483$2,032$1,654$666
19 years$3,420$2,798$2,273$1,836$1,475$558
20 years$3,215$2,600$2,086$1,663$1,317$468
21 years$3,030$2,422$1,919$1,509$1,179$393
22 years$2,862$2,261$1,769$1,372$1,056$330
23 years$2,708$2,114$1,633$1,249$948$277
24 years$2,568$1,981$1,510$1,140$852$233
25 years$2,439$1,859$1,399$1,041$767$196
26 years$2,320$1,747$1,297$952$691$165
27 years$2,210$1,644$1,205$871$623$139
28 years$2,108$1,549$1,120$798$562$117
29 years$2,014$1,462$1,042$732$508$99
30 years$1,926$1,380$971$672$459$83
31 years$1,843$1,305$905$617$415$70
32 years$1,766$1,235$844$567$375$59
33 years$1,694$1,169$788$521$339$50
34 years$1,626$1,108$737$480$307$42
35 years$1,563$1,051$689$442$278$36
36 years$1,502$998$644$407$252$30
37 years$1,446$948$603$375$229$25
38 years$1,392$901$565$345$207$21
39 years$1,341$856$529$318$188$18
40 years$1,293$815$496$294$170$15
41 years$1,248$776$465$271$155$13
42 years$1,204$739$436$250$140$11
43 years$1,163$704$409$231$127$9
44 years$1,124$671$384$213$116$8
45 years$1,087$640$361$197$105$6
46 years$1,051$610$339$182$95$5
47 years$1,017$582$318$168$87$5
48 years$984$556$299$155$79$4
49 years$953$531$281$143$71$3
50 years$924$507$264$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $946,000, adding $2,751 every year, while hoping to spend $58,021 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: 43/28/29 Blend
65$946,000$946,000$946,000$946,000
66$1,045,330$995,192$980,529$1,081,336
67$1,090,219$982,222$951,642$1,094,486
68$1,137,743$966,673$919,844$1,103,038
69$1,188,109$948,355$884,974$1,111,208
70$1,241,542$927,071$846,868$1,118,995
71$1,298,292$902,610$805,350$1,126,402
72$1,358,629$874,749$760,240$1,133,437
73$1,422,849$843,251$711,348$1,140,117
74$1,491,277$807,868$658,476$1,146,460
75$1,564,269$768,336$601,417$1,152,498
76$1,642,214$724,373$539,953$1,158,266
77$1,725,538$675,686$473,860$1,163,814
78$1,814,710$621,962$402,902$1,169,200
79$1,910,242$562,870$326,831$1,174,497
80$2,012,697$498,060$245,390$1,179,791
81$2,122,692$427,165$158,310$1,185,187
82$2,240,905$349,795$65,312$1,190,807
83$2,368,079$265,536$0$1,196,795
84$2,505,030$173,955$0$1,213,818
85$2,652,656$74,591$0$1,253,821
86$2,811,941$0$0$1,296,897
87$2,983,968$0$0$1,353,587
88$3,169,926$0$0$1,439,802
89$3,371,121$0$0$1,533,178
90$3,588,991$0$0$1,634,394
91$3,825,116$0$0$1,744,196
92$4,081,232$0$0$1,863,405
93$4,359,249$0$0$1,992,925
94$4,661,268$0$0$2,133,748
95$4,989,600$0$0$2,286,968
96$5,346,789$0$0$2,453,787
97$5,735,630$0$0$2,635,528
98$6,159,202$0$0$2,833,648
99$6,620,893$0$0$3,049,749
100$7,124,430$0$0$3,285,595