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%14.5%
1 years$79,441$78,733$78,043$77,369$76,711$75,286
2 years$39,327$38,595$37,885$37,197$36,529$35,098
3 years$25,958$25,222$24,514$23,832$23,176$21,784
4 years$19,274$18,541$17,840$17,170$16,529$15,187
5 years$15,265$14,536$13,845$13,188$12,565$11,277
6 years$12,593$11,870$11,188$10,547$9,942$8,710
7 years$10,686$9,968$9,298$8,671$8,086$6,909
8 years$9,256$8,545$7,885$7,274$6,708$5,586
9 years$8,144$7,440$6,791$6,196$5,649$4,582
10 years$7,255$6,558$5,921$5,341$4,813$3,800
11 years$6,528$5,838$5,213$4,648$4,140$3,178
12 years$5,923$5,240$4,626$4,077$3,587$2,677
13 years$5,411$4,735$4,133$3,599$3,128$2,268
14 years$4,973$4,304$3,714$3,195$2,742$1,930
15 years$4,594$3,932$3,353$2,849$2,414$1,648
16 years$4,262$3,608$3,040$2,551$2,134$1,413
17 years$3,970$3,322$2,766$2,292$1,892$1,214
18 years$3,710$3,070$2,525$2,066$1,682$1,045
19 years$3,478$2,845$2,312$1,867$1,499$902
20 years$3,270$2,644$2,122$1,691$1,339$780
21 years$3,081$2,463$1,951$1,534$1,199$675
22 years$2,910$2,299$1,799$1,395$1,074$585
23 years$2,754$2,150$1,661$1,271$964$507
24 years$2,611$2,015$1,536$1,159$867$440
25 years$2,480$1,891$1,422$1,058$780$383
26 years$2,359$1,777$1,319$968$703$333
27 years$2,248$1,672$1,225$886$633$290
28 years$2,144$1,576$1,139$812$572$252
29 years$2,048$1,486$1,060$744$516$219
30 years$1,958$1,404$987$683$466$191
31 years$1,875$1,327$920$627$422$167
32 years$1,796$1,256$859$576$381$145
33 years$1,723$1,189$802$530$345$127
34 years$1,654$1,127$749$488$312$110
35 years$1,589$1,069$700$449$283$96
36 years$1,528$1,015$655$414$256$84
37 years$1,470$964$613$381$232$73
38 years$1,416$916$574$351$211$64
39 years$1,364$871$538$324$191$56
40 years$1,315$829$504$299$173$49
41 years$1,269$789$473$276$157$43
42 years$1,225$751$444$254$143$37
43 years$1,183$716$416$235$129$32
44 years$1,143$682$391$217$118$28
45 years$1,105$651$367$200$107$25
46 years$1,069$621$345$185$97$22
47 years$1,034$592$324$171$88$19
48 years$1,001$565$304$158$80$16
49 years$969$540$286$146$73$14
50 years$939$516$269$135$66$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $962,000, adding $3,468 every year, while hoping to spend $25,667 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: 50/23/27 Blend
65$962,000$962,000$962,000$962,000
66$1,063,701$1,012,715$997,804$1,108,614
67$1,144,889$1,035,029$1,003,921$1,162,642
68$1,233,498$1,057,575$1,009,383$1,218,491
69$1,330,258$1,080,340$1,014,140$1,278,689
70$1,435,972$1,103,304$1,018,141$1,343,659
71$1,551,525$1,126,449$1,021,333$1,413,871
72$1,677,890$1,149,755$1,023,657$1,489,839
73$1,816,139$1,173,198$1,025,054$1,572,133
74$1,967,455$1,196,753$1,025,463$1,661,378
75$2,133,135$1,220,394$1,024,816$1,758,268
76$2,314,612$1,244,091$1,023,045$1,863,563
77$2,513,463$1,267,812$1,020,077$1,978,106
78$2,731,424$1,291,522$1,015,837$2,102,824
79$2,970,406$1,315,184$1,010,245$2,238,738
80$3,232,517$1,338,757$1,003,217$2,386,976
81$3,520,075$1,362,198$994,666$2,548,782
82$3,835,636$1,385,460$984,501$2,725,527
83$4,182,015$1,408,491$972,626$2,918,722
84$4,562,312$1,431,238$958,940$3,130,036
85$4,979,941$1,453,642$943,338$3,361,305
86$5,438,665$1,475,641$925,710$3,614,558
87$5,942,628$1,497,166$905,941$3,892,029
88$6,496,396$1,518,147$883,909$4,196,184
89$7,104,999$1,538,506$859,490$4,529,739
90$7,773,976$1,558,161$832,551$4,895,692
91$8,509,434$1,577,023$802,954$5,297,346
92$9,318,098$1,594,999$770,554$5,738,345
93$10,207,377$1,611,987$735,201$6,222,705
94$11,185,436$1,627,881$696,737$6,754,855
95$12,261,270$1,642,567$654,997$7,339,677
96$13,444,789$1,655,922$609,809$7,982,555
97$14,746,912$1,667,817$560,992$8,689,423
98$16,179,671$1,678,113$508,359$9,466,826
99$17,756,321$1,686,664$451,712$10,321,976
100$19,491,468$1,693,313$390,847$11,262,828