Can I retire at age 66 with 953,000?

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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$78,698$77,997$77,313$76,645$75,994$75,578
2 years$38,959$38,234$37,531$36,849$36,187$35,768
3 years$25,715$24,986$24,285$23,609$22,959$22,549
4 years$19,094$18,367$17,673$17,009$16,374$15,977
5 years$15,122$14,400$13,715$13,065$12,448$12,063
6 years$12,476$11,759$11,084$10,448$9,849$9,479
7 years$10,586$9,875$9,211$8,590$8,010$7,654
8 years$9,169$8,465$7,811$7,206$6,645$6,304
9 years$8,068$7,370$6,728$6,138$5,596$5,269
10 years$7,187$6,496$5,866$5,291$4,768$4,455
11 years$6,467$5,783$5,164$4,605$4,101$3,801
12 years$5,868$5,191$4,583$4,039$3,554$3,268
13 years$5,361$4,691$4,095$3,566$3,099$2,826
14 years$4,927$4,264$3,679$3,165$2,716$2,457
15 years$4,551$3,895$3,322$2,823$2,392$2,145
16 years$4,222$3,574$3,012$2,528$2,114$1,879
17 years$3,933$3,291$2,740$2,271$1,874$1,651
18 years$3,675$3,041$2,502$2,047$1,667$1,455
19 years$3,446$2,819$2,290$1,849$1,485$1,285
20 years$3,239$2,619$2,102$1,675$1,327$1,137
21 years$3,052$2,440$1,933$1,520$1,187$1,008
22 years$2,883$2,277$1,782$1,382$1,064$895
23 years$2,728$2,130$1,645$1,259$955$796
24 years$2,587$1,996$1,521$1,148$859$708
25 years$2,457$1,873$1,409$1,048$773$631
26 years$2,337$1,760$1,307$959$696$563
27 years$2,227$1,657$1,214$877$628$502
28 years$2,124$1,561$1,128$804$566$449
29 years$2,029$1,473$1,050$737$511$401
30 years$1,940$1,391$978$677$462$358
31 years$1,857$1,315$912$621$418$321
32 years$1,779$1,244$851$571$378$287
33 years$1,707$1,178$794$525$342$257
34 years$1,638$1,117$742$483$310$230
35 years$1,574$1,059$694$445$280$206
36 years$1,514$1,005$649$410$254$185
37 years$1,456$955$607$377$230$166
38 years$1,402$907$569$348$209$149
39 years$1,351$863$533$321$189$133
40 years$1,303$821$500$296$172$120
41 years$1,257$781$468$273$156$107
42 years$1,213$744$439$252$141$96
43 years$1,172$709$412$233$128$86
44 years$1,132$676$387$215$116$78
45 years$1,095$644$363$198$106$70
46 years$1,059$615$341$183$96$62
47 years$1,024$587$321$169$87$56
48 years$992$560$301$156$79$50
49 years$960$535$283$145$72$45
50 years$930$511$266$134$65$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $953,000, adding $3,195 every year, while hoping to spend $24,426 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: 39/47/14 Blend
65$953,000$953,000$953,000$953,000
66$1,053,502$1,002,993$988,221$1,090,043
67$1,134,970$1,026,150$995,337$1,139,480
68$1,223,929$1,049,624$1,001,874$1,190,287
69$1,321,117$1,073,403$1,007,784$1,244,693
70$1,427,348$1,097,477$1,013,022$1,303,034
71$1,543,516$1,121,831$1,017,536$1,365,682
72$1,670,606$1,146,453$1,021,275$1,433,046
73$1,809,704$1,171,324$1,024,183$1,505,575
74$1,962,003$1,196,429$1,026,203$1,583,766
75$2,128,819$1,221,746$1,027,273$1,668,166
76$2,311,602$1,247,255$1,027,330$1,759,378
77$2,511,946$1,272,931$1,026,306$1,858,066
78$2,731,609$1,298,749$1,024,132$1,964,963
79$2,972,527$1,324,681$1,020,734$2,080,875
80$3,236,830$1,350,696$1,016,033$2,206,693
81$3,526,866$1,376,760$1,009,951$2,343,398
82$3,845,223$1,402,837$1,002,400$2,492,072
83$4,194,748$1,428,889$993,293$2,653,905
84$4,578,581$1,454,873$982,537$2,830,214
85$5,000,177$1,480,742$970,033$3,022,446
86$5,463,346$1,506,449$955,679$3,232,201
87$5,972,281$1,531,940$939,369$3,461,239
88$6,531,607$1,557,157$920,990$3,711,502
89$7,146,413$1,582,040$900,426$3,985,132
90$7,822,309$1,606,523$877,552$4,284,489
91$8,565,476$1,630,534$852,242$4,612,176
92$9,382,724$1,653,999$824,361$4,971,064
93$10,281,552$1,676,835$793,768$5,364,315
94$11,270,228$1,698,958$760,316$5,795,419
95$12,357,857$1,720,273$723,853$6,268,221
96$13,554,474$1,740,681$684,217$6,786,961
97$14,871,133$1,760,077$641,241$7,356,315
98$16,320,015$1,778,348$594,750$7,981,437
99$17,914,542$1,795,373$544,559$8,668,009
100$19,669,503$1,811,023$490,479$9,422,297