Can I retire at age 66 with 963,000?

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 $963,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$79,524$78,815$78,124$77,450$76,791$76,021
2 years$39,368$38,635$37,924$37,235$36,567$35,791
3 years$25,985$25,248$24,540$23,857$23,200$22,442
4 years$19,294$18,560$17,859$17,188$16,546$15,813
5 years$15,281$14,551$13,859$13,202$12,578$11,872
6 years$12,607$11,882$11,200$10,558$9,953$9,274
7 years$10,697$9,979$9,307$8,680$8,094$7,443
8 years$9,265$8,554$7,893$7,281$6,715$6,091
9 years$8,152$7,447$6,799$6,202$5,655$5,059
10 years$7,263$6,565$5,927$5,346$4,818$4,249
11 years$6,535$5,844$5,218$4,653$4,144$3,601
12 years$5,929$5,245$4,631$4,081$3,591$3,074
13 years$5,417$4,740$4,137$3,603$3,131$2,640
14 years$4,978$4,309$3,718$3,198$2,745$2,278
15 years$4,598$3,936$3,356$2,852$2,417$1,974
16 years$4,266$3,611$3,043$2,554$2,136$1,717
17 years$3,974$3,326$2,769$2,295$1,894$1,497
18 years$3,714$3,073$2,528$2,068$1,684$1,309
19 years$3,482$2,848$2,314$1,869$1,501$1,147
20 years$3,273$2,647$2,124$1,692$1,341$1,007
21 years$3,084$2,465$1,953$1,536$1,200$886
22 years$2,913$2,301$1,800$1,397$1,075$780
23 years$2,757$2,152$1,662$1,272$965$688
24 years$2,614$2,017$1,537$1,160$868$607
25 years$2,483$1,893$1,424$1,059$781$536
26 years$2,362$1,779$1,321$969$703$474
27 years$2,250$1,674$1,226$887$634$419
28 years$2,146$1,577$1,140$812$572$371
29 years$2,050$1,488$1,061$745$517$329
30 years$1,960$1,405$988$684$467$291
31 years$1,876$1,328$921$628$422$258
32 years$1,798$1,257$860$577$382$229
33 years$1,725$1,190$803$531$346$203
34 years$1,656$1,128$750$488$313$181
35 years$1,591$1,070$701$449$283$160
36 years$1,529$1,016$656$414$257$142
37 years$1,472$965$614$381$233$126
38 years$1,417$917$575$352$211$112
39 years$1,366$872$539$324$191$100
40 years$1,317$829$505$299$174$89
41 years$1,270$790$473$276$157$79
42 years$1,226$752$444$255$143$70
43 years$1,184$716$417$235$130$62
44 years$1,144$683$391$217$118$55
45 years$1,106$651$367$200$107$49
46 years$1,070$621$345$185$97$44
47 years$1,035$593$324$171$88$39
48 years$1,002$566$305$158$80$35
49 years$971$540$286$146$73$31
50 years$940$516$269$135$66$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $963,000, adding $3,902 every year, while hoping to spend $50,347 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: 58/32/10 Blend
65$963,000$963,000$963,000$963,000
66$1,065,251$1,014,212$999,285$1,124,278
67$1,120,338$1,010,339$979,193$1,160,614
68$1,179,356$1,004,590$956,739$1,194,217
69$1,242,653$996,818$931,793$1,229,624
70$1,310,612$986,870$904,216$1,267,011
71$1,383,650$974,582$873,863$1,306,577
72$1,462,228$959,782$840,583$1,348,543
73$1,546,850$942,287$804,218$1,393,153
74$1,638,072$921,901$764,602$1,440,679
75$1,736,501$898,421$721,562$1,491,425
76$1,842,807$871,627$674,918$1,545,726
77$1,957,726$841,289$624,480$1,603,956
78$2,082,066$807,164$570,052$1,666,528
79$2,216,715$768,993$511,427$1,733,904
80$2,362,650$726,504$448,389$1,806,594
81$2,520,945$679,407$380,715$1,885,163
82$2,692,781$627,398$308,169$1,970,241
83$2,879,457$570,153$230,505$2,062,525
84$3,082,403$507,331$147,468$2,162,787
85$3,303,190$438,573$58,791$2,271,883
86$3,543,549$363,496$0$2,390,763
87$3,805,383$281,699$0$2,524,303
88$4,090,785$192,756$0$2,676,786
89$4,402,063$96,218$0$2,843,254
90$4,741,752$0$0$3,025,172
91$5,112,646$0$0$3,227,109
92$5,517,819$0$0$3,484,797
93$5,960,655$0$0$3,766,518
94$6,444,882$0$0$4,074,653
95$6,974,601$0$0$4,411,822
96$7,554,330$0$0$4,780,910
97$8,189,044$0$0$5,185,097
98$8,884,220$0$0$5,627,882
99$9,645,891$0$0$6,113,119
100$10,480,699$0$0$6,645,053