Can I retire at age 66 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$78,946$78,242$77,556$76,887$76,233$74,694
2 years$39,082$38,354$37,649$36,965$36,301$34,757
3 years$25,796$25,065$24,361$23,684$23,031$21,530
4 years$19,154$18,425$17,729$17,063$16,426$14,980
5 years$15,170$14,446$13,758$13,106$12,487$11,100
6 years$12,515$11,796$11,119$10,481$9,880$8,554
7 years$10,619$9,906$9,240$8,617$8,035$6,770
8 years$9,198$8,491$7,836$7,228$6,666$5,461
9 years$8,093$7,393$6,749$6,157$5,614$4,469
10 years$7,210$6,517$5,884$5,307$4,783$3,697
11 years$6,488$5,802$5,180$4,619$4,114$3,085
12 years$5,886$5,207$4,597$4,052$3,565$2,591
13 years$5,378$4,706$4,107$3,577$3,109$2,189
14 years$4,942$4,277$3,691$3,175$2,725$1,858
15 years$4,565$3,908$3,332$2,832$2,399$1,583
16 years$4,235$3,585$3,021$2,535$2,121$1,353
17 years$3,945$3,302$2,749$2,278$1,880$1,159
18 years$3,687$3,051$2,509$2,053$1,672$995
19 years$3,456$2,828$2,297$1,855$1,490$856
20 years$3,249$2,628$2,108$1,680$1,331$738
21 years$3,062$2,447$1,939$1,525$1,191$637
22 years$2,892$2,285$1,787$1,386$1,068$550
23 years$2,737$2,137$1,650$1,263$958$476
24 years$2,595$2,002$1,526$1,152$861$412
25 years$2,465$1,879$1,414$1,052$775$357
26 years$2,345$1,766$1,311$962$698$309
27 years$2,234$1,662$1,217$880$630$268
28 years$2,131$1,566$1,132$806$568$233
29 years$2,035$1,477$1,053$740$513$202
30 years$1,946$1,395$981$679$463$175
31 years$1,863$1,319$915$623$419$152
32 years$1,785$1,248$853$573$379$132
33 years$1,712$1,182$797$527$343$115
34 years$1,644$1,120$744$485$311$100
35 years$1,579$1,062$696$446$281$87
36 years$1,518$1,008$651$411$255$75
37 years$1,461$958$609$379$231$66
38 years$1,407$910$571$349$209$57
39 years$1,356$865$535$322$190$50
40 years$1,307$823$501$297$172$43
41 years$1,261$784$470$274$156$38
42 years$1,217$746$441$253$142$33
43 years$1,175$711$414$233$129$28
44 years$1,136$678$388$215$117$25
45 years$1,098$646$365$199$106$22
46 years$1,062$617$342$184$96$19
47 years$1,028$589$322$170$87$16
48 years$995$562$302$157$79$14
49 years$963$537$284$145$72$12
50 years$933$513$267$134$65$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $956,000, adding $3,171 every year, while hoping to spend $40,119 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: 53/37/10 Blend
65$956,000$956,000$956,000$956,000
66$1,056,783$1,006,115$991,297$1,109,931
67$1,121,888$1,012,728$981,819$1,153,016
68$1,192,290$1,018,321$970,679$1,195,256
69$1,268,486$1,022,801$957,779$1,240,269
70$1,351,023$1,026,069$943,016$1,288,326
71$1,440,503$1,028,023$926,283$1,339,728
72$1,537,588$1,028,549$907,467$1,394,806
73$1,643,005$1,027,531$886,450$1,453,928
74$1,757,555$1,024,844$863,110$1,517,499
75$1,882,119$1,020,355$837,317$1,585,970
76$2,017,665$1,013,922$808,937$1,659,837
77$2,165,259$1,005,396$777,829$1,739,651
78$2,326,074$994,619$743,845$1,826,020
79$2,501,401$981,423$706,831$1,919,617
80$2,692,660$965,629$666,626$2,021,186
81$2,901,416$947,049$623,062$2,131,550
82$3,129,389$925,483$575,963$2,251,619
83$3,378,474$900,719$525,146$2,382,398
84$3,650,757$872,533$470,417$2,524,998
85$3,948,535$840,688$411,576$2,680,649
86$4,274,336$804,933$348,415$2,850,709
87$4,630,945$765,001$280,714$3,036,677
88$5,021,428$720,613$208,244$3,240,214
89$5,449,161$671,471$130,768$3,463,150
90$5,917,863$617,260$48,036$3,707,510
91$6,431,629$557,649$0$3,975,529
92$6,994,968$492,287$0$4,273,975
93$7,612,848$420,802$0$4,607,027
94$8,290,740$342,803$0$4,972,599
95$9,034,670$257,876$0$5,374,050
96$9,851,278$165,582$0$5,815,087
97$10,747,874$65,462$0$6,299,801
98$11,732,513$0$0$6,832,707
99$12,814,069$0$0$7,436,285
100$14,002,315$0$0$8,128,784