Can I retire at age 66 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$78,285$77,588$76,907$76,243$75,595$73,618
2 years$38,755$38,033$37,334$36,655$35,998$34,019
3 years$25,580$24,855$24,157$23,485$22,838$20,921
4 years$18,994$18,271$17,580$16,920$16,288$14,446
5 years$15,043$14,325$13,643$12,996$12,382$10,620
6 years$12,410$11,697$11,026$10,393$9,798$8,118
7 years$10,530$9,823$9,162$8,545$7,968$6,371
8 years$9,121$8,420$7,770$7,168$6,610$5,094
9 years$8,025$7,331$6,693$6,106$5,567$4,131
10 years$7,149$6,462$5,835$5,263$4,743$3,386
11 years$6,433$5,753$5,137$4,580$4,079$2,798
12 years$5,837$5,164$4,559$4,018$3,535$2,328
13 years$5,333$4,666$4,073$3,547$3,083$1,947
14 years$4,901$4,242$3,660$3,149$2,702$1,636
15 years$4,527$3,875$3,304$2,808$2,379$1,379
16 years$4,200$3,555$2,996$2,514$2,103$1,166
17 years$3,912$3,274$2,726$2,259$1,864$988
18 years$3,656$3,025$2,488$2,036$1,658$839
19 years$3,427$2,804$2,278$1,840$1,478$714
20 years$3,222$2,606$2,091$1,666$1,320$608
21 years$3,036$2,427$1,923$1,512$1,181$519
22 years$2,868$2,265$1,772$1,375$1,059$443
23 years$2,714$2,119$1,636$1,252$950$379
24 years$2,573$1,985$1,513$1,142$854$324
25 years$2,444$1,863$1,402$1,043$769$277
26 years$2,325$1,751$1,300$954$692$237
27 years$2,215$1,648$1,207$873$624$203
28 years$2,113$1,553$1,122$800$563$174
29 years$2,018$1,465$1,044$733$509$149
30 years$1,930$1,383$973$673$460$128
31 years$1,847$1,308$907$618$415$110
32 years$1,770$1,237$846$568$376$94
33 years$1,698$1,172$790$522$340$81
34 years$1,630$1,111$738$481$308$69
35 years$1,566$1,053$690$442$279$60
36 years$1,506$1,000$646$407$253$51
37 years$1,449$950$604$375$229$44
38 years$1,395$902$566$346$208$38
39 years$1,344$858$530$319$188$32
40 years$1,296$816$497$294$171$28
41 years$1,250$777$466$272$155$24
42 years$1,207$740$437$251$141$21
43 years$1,166$705$410$231$128$18
44 years$1,126$672$385$214$116$15
45 years$1,089$641$362$197$105$13
46 years$1,053$612$340$182$95$11
47 years$1,019$584$319$168$87$10
48 years$987$557$300$156$79$8
49 years$955$532$282$144$72$7
50 years$926$508$265$133$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $948,000, adding $3,184 every year, while hoping to spend $30,382 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: 84/8/8 Blend
65$948,000$948,000$948,000$948,000
66$1,047,980$997,736$983,042$1,134,799
67$1,122,548$1,014,299$983,648$1,208,551
68$1,203,703$1,030,655$983,256$1,285,109
69$1,292,086$1,046,763$981,800$1,368,252
70$1,388,401$1,062,576$979,212$1,458,622
71$1,493,422$1,078,046$975,420$1,556,925
72$1,608,002$1,093,122$970,348$1,663,942
73$1,733,081$1,107,747$963,917$1,780,530
74$1,869,691$1,121,862$956,044$1,907,634
75$2,018,970$1,135,404$946,642$2,046,295
76$2,182,171$1,148,305$935,620$2,197,658
77$2,360,671$1,160,491$922,882$2,362,986
78$2,555,991$1,171,886$908,330$2,543,671
79$2,769,801$1,182,407$891,858$2,741,243
80$3,003,941$1,191,966$873,356$2,957,392
81$3,260,441$1,200,470$852,711$3,193,975
82$3,541,531$1,207,818$829,802$3,453,043
83$3,849,671$1,213,905$804,504$3,736,851
84$4,187,569$1,218,618$776,686$4,047,886
85$4,558,207$1,221,836$746,212$4,388,888
86$4,964,871$1,223,433$712,936$4,762,875
87$5,411,179$1,223,272$676,711$5,173,174
88$5,901,117$1,221,210$637,378$5,623,449
89$6,439,075$1,217,094$594,775$6,117,739
90$7,029,890$1,210,761$548,730$6,660,493
91$7,678,891$1,202,040$499,064$7,256,613
92$8,391,946$1,190,749$445,591$7,911,503
93$9,175,522$1,176,693$388,115$8,631,116
94$10,036,742$1,159,667$326,434$9,422,012
95$10,983,454$1,139,455$260,333$10,291,420
96$12,024,303$1,115,826$189,592$11,247,306
97$13,168,817$1,088,536$113,978$12,298,448
98$14,427,489$1,057,326$33,248$13,454,519
99$15,811,882$1,021,924$0$14,726,181
100$17,334,736$982,041$0$16,129,694