Can I retire at age 66 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$78,450$77,751$77,070$76,404$75,754$74,255
2 years$38,837$38,113$37,412$36,733$36,073$34,569
3 years$25,634$24,908$24,208$23,535$22,887$21,424
4 years$19,034$18,310$17,617$16,956$16,323$14,914
5 years$15,075$14,355$13,672$13,024$12,408$11,057
6 years$12,436$11,722$11,049$10,415$9,818$8,526
7 years$10,552$9,844$9,182$8,563$7,985$6,751
8 years$9,140$8,438$7,787$7,183$6,624$5,449
9 years$8,042$7,347$6,707$6,118$5,579$4,462
10 years$7,165$6,476$5,847$5,274$4,753$3,693
11 years$6,447$5,765$5,148$4,590$4,088$3,083
12 years$5,849$5,175$4,568$4,026$3,543$2,592
13 years$5,344$4,676$4,082$3,554$3,089$2,191
14 years$4,911$4,251$3,667$3,155$2,708$1,861
15 years$4,536$3,883$3,311$2,814$2,384$1,586
16 years$4,209$3,563$3,002$2,520$2,107$1,357
17 years$3,920$3,281$2,732$2,264$1,868$1,163
18 years$3,664$3,032$2,494$2,040$1,661$1,000
19 years$3,435$2,810$2,283$1,843$1,481$861
20 years$3,229$2,611$2,095$1,670$1,323$742
21 years$3,043$2,432$1,927$1,515$1,184$641
22 years$2,874$2,270$1,776$1,378$1,061$554
23 years$2,720$2,123$1,640$1,255$952$480
24 years$2,579$1,989$1,517$1,144$856$415
25 years$2,449$1,867$1,405$1,045$770$360
26 years$2,330$1,755$1,303$956$694$312
27 years$2,220$1,651$1,210$875$626$271
28 years$2,117$1,556$1,125$801$564$235
29 years$2,022$1,468$1,047$735$510$204
30 years$1,934$1,386$975$674$461$178
31 years$1,851$1,311$909$619$416$154
32 years$1,774$1,240$848$569$377$134
33 years$1,701$1,174$792$523$341$117
34 years$1,633$1,113$740$482$309$102
35 years$1,569$1,056$692$443$280$88
36 years$1,509$1,002$647$408$253$77
37 years$1,452$952$606$376$230$67
38 years$1,398$904$567$347$208$58
39 years$1,347$860$531$320$189$51
40 years$1,299$818$498$295$171$44
41 years$1,253$779$467$272$155$38
42 years$1,209$742$438$251$141$33
43 years$1,168$707$411$232$128$29
44 years$1,129$674$386$214$116$25
45 years$1,091$642$362$198$105$22
46 years$1,055$613$340$183$96$19
47 years$1,021$585$320$169$87$17
48 years$989$558$300$156$79$15
49 years$957$533$282$144$72$13
50 years$928$509$265$133$65$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $950,000, adding $2,396 every year, while hoping to spend $49,781 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: 34/50/16 Blend
65$950,000$950,000$950,000$950,000
66$1,049,371$999,021$984,296$1,079,769
67$1,103,441$995,007$964,304$1,098,194
68$1,161,357$989,127$941,973$1,113,225
69$1,223,459$981,238$917,173$1,128,366
70$1,290,121$971,188$889,767$1,143,654
71$1,361,750$958,814$859,612$1,159,134
72$1,438,798$943,944$826,558$1,174,859
73$1,521,756$926,398$790,448$1,190,893
74$1,611,165$905,982$751,119$1,207,311
75$1,707,622$882,493$708,399$1,224,202
76$1,811,779$855,715$662,110$1,241,665
77$1,924,354$825,419$612,064$1,259,822
78$2,046,137$791,363$558,067$1,278,807
79$2,177,995$753,292$499,914$1,298,778
80$2,320,882$710,934$437,393$1,319,916
81$2,475,846$664,004$370,280$1,342,427
82$2,644,041$612,199$298,343$1,366,545
83$2,826,735$555,199$221,339$1,392,538
84$3,025,324$492,665$139,015$1,420,710
85$3,241,342$424,240$51,107$1,451,405
86$3,476,477$349,547$0$1,485,012
87$3,732,589$268,186$0$1,529,260
88$4,011,722$179,736$0$1,587,141
89$4,316,127$83,752$0$1,650,529
90$4,648,279$0$0$1,720,105
91$5,010,907$0$0$1,807,765
92$5,407,010$0$0$1,953,981
93$5,839,893$0$0$2,113,908
94$6,313,193$0$0$2,288,907
95$6,830,915$0$0$2,480,477
96$7,397,468$0$0$2,690,267
97$8,017,709$0$0$2,920,094
98$8,696,984$0$0$3,171,960
99$9,441,181$0$0$3,448,067
100$10,256,786$0$0$3,750,843