Can I retire at age 66 with 953,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%12.2%
1 years$78,698$77,997$77,313$76,645$75,994$75,294
2 years$38,959$38,234$37,531$36,849$36,187$35,483
3 years$25,715$24,986$24,285$23,609$22,959$22,270
4 years$19,094$18,367$17,673$17,009$16,374$15,708
5 years$15,122$14,400$13,715$13,065$12,448$11,805
6 years$12,476$11,759$11,084$10,448$9,849$9,231
7 years$10,586$9,875$9,211$8,590$8,010$7,417
8 years$9,169$8,465$7,811$7,206$6,645$6,077
9 years$8,068$7,370$6,728$6,138$5,596$5,053
10 years$7,187$6,496$5,866$5,291$4,768$4,249
11 years$6,467$5,783$5,164$4,605$4,101$3,606
12 years$5,868$5,191$4,583$4,039$3,554$3,082
13 years$5,361$4,691$4,095$3,566$3,099$2,650
14 years$4,927$4,264$3,679$3,165$2,716$2,290
15 years$4,551$3,895$3,322$2,823$2,392$1,987
16 years$4,222$3,574$3,012$2,528$2,114$1,731
17 years$3,933$3,291$2,740$2,271$1,874$1,511
18 years$3,675$3,041$2,502$2,047$1,667$1,323
19 years$3,446$2,819$2,290$1,849$1,485$1,161
20 years$3,239$2,619$2,102$1,675$1,327$1,021
21 years$3,052$2,440$1,933$1,520$1,187$899
22 years$2,883$2,277$1,782$1,382$1,064$793
23 years$2,728$2,130$1,645$1,259$955$700
24 years$2,587$1,996$1,521$1,148$859$619
25 years$2,457$1,873$1,409$1,048$773$548
26 years$2,337$1,760$1,307$959$696$485
27 years$2,227$1,657$1,214$877$628$430
28 years$2,124$1,561$1,128$804$566$381
29 years$2,029$1,473$1,050$737$511$338
30 years$1,940$1,391$978$677$462$300
31 years$1,857$1,315$912$621$418$267
32 years$1,779$1,244$851$571$378$237
33 years$1,707$1,178$794$525$342$210
34 years$1,638$1,117$742$483$310$187
35 years$1,574$1,059$694$445$280$166
36 years$1,514$1,005$649$410$254$148
37 years$1,456$955$607$377$230$132
38 years$1,402$907$569$348$209$117
39 years$1,351$863$533$321$189$104
40 years$1,303$821$500$296$172$93
41 years$1,257$781$468$273$156$83
42 years$1,213$744$439$252$141$74
43 years$1,172$709$412$233$128$66
44 years$1,132$676$387$215$116$58
45 years$1,095$644$363$198$106$52
46 years$1,059$615$341$183$96$46
47 years$1,024$587$321$169$87$41
48 years$992$560$301$156$79$37
49 years$960$535$283$145$72$33
50 years$930$511$266$134$65$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $953,000, adding $5,158 every year, while hoping to spend $47,942 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: 25/46/29 Blend
65$953,000$953,000$953,000$953,000
66$1,055,526$1,005,017$990,246$1,072,243
67$1,112,180$1,003,253$972,409$1,084,907
68$1,173,006$999,796$952,368$1,094,083
69$1,238,378$994,512$929,998$1,102,934
70$1,308,709$987,259$905,170$1,111,468
71$1,384,450$977,888$877,746$1,119,695
72$1,466,098$966,238$847,584$1,127,632
73$1,554,197$952,141$814,535$1,135,304
74$1,649,347$935,418$778,444$1,142,743
75$1,752,206$915,879$739,147$1,149,990
76$1,863,497$893,323$696,475$1,157,096
77$1,984,016$867,538$650,249$1,164,125
78$2,114,637$838,298$600,283$1,171,152
79$2,256,320$805,365$546,383$1,178,271
80$2,410,125$768,488$488,347$1,185,589
81$2,577,212$727,399$425,961$1,193,236
82$2,758,862$681,816$359,005$1,201,360
83$2,956,482$631,440$287,248$1,210,137
84$3,171,620$575,957$210,447$1,219,769
85$3,405,979$515,034$128,351$1,230,489
86$3,661,435$448,316$40,697$1,242,564
87$3,940,051$375,433$0$1,256,302
88$4,244,098$295,991$0$1,288,404
89$4,576,076$209,575$0$1,337,419
90$4,938,736$115,745$0$1,391,286
91$5,335,109$14,038$0$1,450,615
92$5,768,530$0$0$1,516,090
93$6,242,670$0$0$1,637,082
94$6,761,574$0$0$1,777,432
95$7,329,694$0$0$1,931,260
96$7,951,933$0$0$2,099,913
97$8,633,691$0$0$2,284,875
98$9,380,913$0$0$2,487,783
99$10,200,150$0$0$2,710,438
100$11,098,614$0$0$2,954,824