Can I retire at age 66 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$79,441$78,733$78,043$77,369$76,711$76,324
2 years$39,327$38,595$37,885$37,197$36,529$36,138
3 years$25,958$25,222$24,514$23,832$23,176$22,793
4 years$19,274$18,541$17,840$17,170$16,529$16,158
5 years$15,265$14,536$13,845$13,188$12,565$12,207
6 years$12,593$11,870$11,188$10,547$9,942$9,597
7 years$10,686$9,968$9,298$8,671$8,086$7,754
8 years$9,256$8,545$7,885$7,274$6,708$6,389
9 years$8,144$7,440$6,791$6,196$5,649$5,343
10 years$7,255$6,558$5,921$5,341$4,813$4,521
11 years$6,528$5,838$5,213$4,648$4,140$3,860
12 years$5,923$5,240$4,626$4,077$3,587$3,320
13 years$5,411$4,735$4,133$3,599$3,128$2,873
14 years$4,973$4,304$3,714$3,195$2,742$2,499
15 years$4,594$3,932$3,353$2,849$2,414$2,183
16 years$4,262$3,608$3,040$2,551$2,134$1,914
17 years$3,970$3,322$2,766$2,292$1,892$1,683
18 years$3,710$3,070$2,525$2,066$1,682$1,484
19 years$3,478$2,845$2,312$1,867$1,499$1,312
20 years$3,270$2,644$2,122$1,691$1,339$1,162
21 years$3,081$2,463$1,951$1,534$1,199$1,031
22 years$2,910$2,299$1,799$1,395$1,074$916
23 years$2,754$2,150$1,661$1,271$964$815
24 years$2,611$2,015$1,536$1,159$867$726
25 years$2,480$1,891$1,422$1,058$780$647
26 years$2,359$1,777$1,319$968$703$577
27 years$2,248$1,672$1,225$886$633$516
28 years$2,144$1,576$1,139$812$572$461
29 years$2,048$1,486$1,060$744$516$412
30 years$1,958$1,404$987$683$466$369
31 years$1,875$1,327$920$627$422$330
32 years$1,796$1,256$859$576$381$296
33 years$1,723$1,189$802$530$345$265
34 years$1,654$1,127$749$488$312$238
35 years$1,589$1,069$700$449$283$213
36 years$1,528$1,015$655$414$256$191
37 years$1,470$964$613$381$232$172
38 years$1,416$916$574$351$211$154
39 years$1,364$871$538$324$191$138
40 years$1,315$829$504$299$173$124
41 years$1,269$789$473$276$157$111
42 years$1,225$751$444$254$143$100
43 years$1,183$716$416$235$129$90
44 years$1,143$682$391$217$118$81
45 years$1,105$651$367$200$107$73
46 years$1,069$621$345$185$97$65
47 years$1,034$592$324$171$88$59
48 years$1,001$565$304$158$80$53
49 years$969$540$286$146$73$47
50 years$939$516$269$135$66$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $962,000, adding $6,715 every year, while hoping to spend $24,070 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: 83/6/11 Blend
65$962,000$962,000$962,000$962,000
66$1,067,051$1,016,065$1,001,154$1,153,123
67$1,150,279$1,040,241$1,009,082$1,234,643
68$1,241,191$1,064,796$1,016,469$1,320,255
69$1,340,543$1,089,722$1,023,272$1,413,546
70$1,449,171$1,115,011$1,029,444$1,515,276
71$1,567,994$1,140,654$1,034,937$1,626,277
72$1,698,023$1,166,639$1,039,701$1,747,470
73$1,840,373$1,192,957$1,043,683$1,879,867
74$1,996,271$1,219,592$1,046,827$2,024,584
75$2,167,068$1,246,529$1,049,073$2,182,847
76$2,354,253$1,273,753$1,050,361$2,356,012
77$2,559,464$1,301,244$1,050,625$2,545,568
78$2,784,507$1,328,983$1,049,799$2,753,158
79$3,031,370$1,356,945$1,047,810$2,980,591
80$3,302,241$1,385,108$1,044,583$3,229,859
81$3,599,535$1,413,443$1,040,042$3,503,159
82$3,925,907$1,441,921$1,034,103$3,802,909
83$4,284,284$1,470,510$1,026,680$4,131,775
84$4,677,891$1,499,175$1,017,683$4,492,694
85$5,110,279$1,527,877$1,007,019$4,888,901
86$5,585,360$1,556,577$994,587$5,323,961
87$6,107,446$1,585,228$980,285$5,801,802
88$6,681,284$1,613,783$964,003$6,326,752
89$7,312,107$1,642,190$945,629$6,903,580
90$8,005,677$1,670,392$925,043$7,537,542
91$8,768,346$1,698,331$902,121$8,234,427
92$9,607,108$1,725,940$876,733$9,000,616
93$10,529,672$1,753,150$848,743$9,843,139
94$11,544,531$1,779,887$818,008$10,769,743
95$12,661,042$1,806,070$784,380$11,788,966
96$13,889,514$1,831,614$747,703$12,910,214
97$15,241,308$1,856,426$707,814$14,143,854
98$16,728,939$1,880,409$664,543$15,501,307
99$18,366,199$1,903,456$617,713$16,995,162
100$20,168,282$1,925,457$567,138$18,639,290