Can I retire at age 66 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$79,193$78,488$77,800$77,128$76,472$75,485
2 years$39,205$38,474$37,767$37,081$36,415$35,422
3 years$25,877$25,143$24,438$23,758$23,103$22,135
4 years$19,214$18,483$17,784$17,116$16,477$15,542
5 years$15,218$14,491$13,801$13,147$12,526$11,625
6 years$12,554$11,833$11,154$10,514$9,911$9,047
7 years$10,652$9,937$9,269$8,644$8,061$7,233
8 years$9,227$8,518$7,861$7,251$6,687$5,895
9 years$8,119$7,417$6,770$6,176$5,631$4,876
10 years$7,232$6,537$5,903$5,324$4,798$4,078
11 years$6,508$5,820$5,196$4,634$4,127$3,441
12 years$5,905$5,224$4,612$4,064$3,576$2,925
13 years$5,395$4,721$4,120$3,588$3,118$2,500
14 years$4,958$4,291$3,702$3,185$2,734$2,148
15 years$4,579$3,920$3,342$2,841$2,407$1,853
16 years$4,249$3,596$3,030$2,543$2,127$1,603
17 years$3,957$3,312$2,758$2,285$1,886$1,391
18 years$3,698$3,061$2,517$2,059$1,677$1,210
19 years$3,467$2,836$2,304$1,861$1,495$1,055
20 years$3,259$2,636$2,115$1,685$1,335$922
21 years$3,071$2,455$1,945$1,530$1,195$806
22 years$2,901$2,292$1,793$1,391$1,071$706
23 years$2,745$2,143$1,655$1,267$961$619
24 years$2,603$2,008$1,531$1,155$864$544
25 years$2,472$1,885$1,418$1,055$778$478
26 years$2,352$1,771$1,315$965$700$420
27 years$2,241$1,667$1,221$883$631$369
28 years$2,137$1,571$1,135$809$570$325
29 years$2,041$1,482$1,056$742$515$286
30 years$1,952$1,399$984$681$465$252
31 years$1,869$1,323$917$625$420$223
32 years$1,791$1,252$856$575$380$196
33 years$1,717$1,185$799$528$344$173
34 years$1,649$1,124$747$486$312$153
35 years$1,584$1,066$698$448$282$135
36 years$1,523$1,011$653$412$256$119
37 years$1,466$961$611$380$232$105
38 years$1,411$913$572$350$210$93
39 years$1,360$868$536$323$190$82
40 years$1,311$826$503$298$173$72
41 years$1,265$786$471$275$157$64
42 years$1,221$749$442$254$142$57
43 years$1,179$713$415$234$129$50
44 years$1,139$680$389$216$117$44
45 years$1,102$649$366$200$106$39
46 years$1,065$619$343$184$97$34
47 years$1,031$590$323$170$88$30
48 years$998$564$303$157$80$27
49 years$966$538$285$145$72$24
50 years$936$514$268$134$66$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $959,000, adding $6,186 every year, while hoping to spend $52,434 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: 67/28/5 Blend
65$959,000$959,000$959,000$959,000
66$1,063,199$1,012,372$997,507$1,133,368
67$1,115,856$1,006,189$975,134$1,174,480
68$1,172,126$997,945$950,255$1,212,467
69$1,232,324$987,485$922,729$1,252,571
70$1,296,791$974,643$892,411$1,294,987
71$1,365,906$959,242$859,149$1,339,937
72$1,440,081$941,097$822,783$1,387,661
73$1,519,770$920,012$783,146$1,438,429
74$1,605,470$895,776$740,065$1,492,537
75$1,697,728$868,169$693,358$1,550,315
76$1,797,144$836,957$642,833$1,612,128
77$1,904,378$801,893$588,293$1,678,380
78$2,020,152$762,714$529,529$1,749,518
79$2,145,264$719,143$466,324$1,826,036
80$2,280,588$670,888$398,453$1,908,484
81$2,427,085$617,638$325,678$1,997,467
82$2,585,811$559,066$247,752$2,093,658
83$2,757,929$494,826$164,417$2,197,799
84$2,944,717$424,551$75,404$2,310,713
85$3,147,580$347,856$0$2,433,309
86$3,368,063$264,331$0$2,567,639
87$3,607,868$173,546$0$2,718,133
88$3,868,865$75,044$0$2,882,011
89$4,153,114$0$0$3,060,651
90$4,462,879$0$0$3,265,331
91$4,800,653$0$0$3,513,785
92$5,169,181$0$0$3,784,916
93$5,571,483$0$0$4,080,953
94$6,010,884$0$0$4,404,351
95$6,491,044$0$0$4,757,809
96$7,015,992$0$0$5,144,304
97$7,590,164$0$0$5,567,108
98$8,218,447$0$0$6,029,828
99$8,906,218$0$0$6,536,434
100$9,659,401$0$0$7,091,299