Can I retire at age 66 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$78,533$77,833$77,151$76,485$75,834$75,167
2 years$38,878$38,154$37,452$36,771$36,111$35,440
3 years$25,661$24,934$24,234$23,560$22,911$22,254
4 years$19,054$18,329$17,636$16,974$16,340$15,705
5 years$15,091$14,370$13,686$13,037$12,421$11,809
6 years$12,449$11,734$11,061$10,426$9,829$9,239
7 years$10,564$9,854$9,191$8,572$7,993$7,428
8 years$9,150$8,447$7,795$7,191$6,631$6,089
9 years$8,051$7,355$6,714$6,125$5,584$5,066
10 years$7,172$6,483$5,853$5,280$4,758$4,263
11 years$6,454$5,771$5,153$4,595$4,092$3,619
12 years$5,855$5,180$4,573$4,030$3,546$3,096
13 years$5,350$4,681$4,086$3,558$3,092$2,664
14 years$4,916$4,255$3,671$3,159$2,711$2,303
15 years$4,541$3,887$3,315$2,817$2,387$2,000
16 years$4,213$3,566$3,005$2,522$2,109$1,743
17 years$3,924$3,284$2,735$2,266$1,870$1,523
18 years$3,668$3,035$2,496$2,042$1,663$1,335
19 years$3,438$2,813$2,285$1,845$1,482$1,172
20 years$3,232$2,614$2,097$1,671$1,324$1,031
21 years$3,046$2,435$1,929$1,517$1,185$909
22 years$2,877$2,273$1,778$1,379$1,062$802
23 years$2,723$2,126$1,642$1,256$953$709
24 years$2,581$1,992$1,518$1,146$857$627
25 years$2,452$1,869$1,406$1,046$771$555
26 years$2,332$1,756$1,304$957$695$492
27 years$2,222$1,653$1,211$876$626$436
28 years$2,120$1,558$1,126$802$565$387
29 years$2,024$1,469$1,048$736$510$344
30 years$1,936$1,388$976$675$461$305
31 years$1,853$1,312$910$620$417$272
32 years$1,776$1,241$849$570$377$241
33 years$1,703$1,176$793$524$341$215
34 years$1,635$1,114$741$482$309$191
35 years$1,571$1,057$692$444$280$170
36 years$1,510$1,003$648$409$254$151
37 years$1,453$953$606$377$230$135
38 years$1,399$905$568$347$208$120
39 years$1,348$861$532$320$189$107
40 years$1,300$819$499$295$171$95
41 years$1,254$780$467$272$155$85
42 years$1,211$743$438$251$141$76
43 years$1,169$707$411$232$128$67
44 years$1,130$674$386$214$116$60
45 years$1,092$643$363$198$105$54
46 years$1,057$613$341$183$96$48
47 years$1,022$585$320$169$87$43
48 years$990$559$301$156$79$38
49 years$958$534$283$144$72$34
50 years$929$510$266$133$65$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $951,000, adding $3,016 every year, while hoping to spend $54,573 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: 60/24/16 Blend
65$951,000$951,000$951,000$951,000
66$1,051,113$1,000,710$985,970$1,109,731
67$1,100,261$991,680$960,934$1,140,606
68$1,152,594$980,378$933,231$1,167,925
69$1,208,377$966,635$902,713$1,196,450
70$1,267,905$950,273$869,227$1,226,306
71$1,331,496$931,102$832,612$1,257,629
72$1,399,504$908,921$792,699$1,290,573
73$1,472,312$883,517$749,314$1,325,311
74$1,550,344$854,665$702,272$1,362,036
75$1,634,063$822,127$651,381$1,400,962
76$1,723,976$785,651$596,442$1,442,328
77$1,820,643$744,969$537,244$1,486,402
78$1,924,676$699,799$473,568$1,533,483
79$2,036,747$649,844$405,187$1,583,902
80$2,157,596$594,787$331,862$1,638,029
81$2,288,034$534,295$253,343$1,696,275
82$2,428,953$468,015$169,369$1,759,100
83$2,581,334$395,575$79,671$1,827,012
84$2,746,253$316,582$0$1,900,578
85$2,924,895$230,618$0$1,983,169
86$3,118,562$137,246$0$2,087,436
87$3,328,686$36,002$0$2,200,593
88$3,556,841$0$0$2,323,559
89$3,804,760$0$0$2,476,787
90$4,074,349$0$0$2,653,812
91$4,367,702$0$0$2,846,513
92$4,687,128$0$0$3,056,413
93$5,035,163$0$0$3,285,188
94$5,414,601$0$0$3,534,685
95$5,828,516$0$0$3,806,934
96$6,280,292$0$0$4,104,171
97$6,773,653$0$0$4,428,858
98$7,312,699$0$0$4,783,704
99$7,901,943$0$0$5,171,692
100$8,546,357$0$0$5,596,106