Can I retire at age 66 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$79,606$78,897$78,205$77,530$76,871$74,861
2 years$39,409$38,675$37,964$37,274$36,605$34,594
3 years$26,012$25,275$24,565$23,882$23,224$21,274
4 years$19,314$18,579$17,877$17,206$16,563$14,690
5 years$15,297$14,567$13,873$13,215$12,591$10,800
6 years$12,620$11,895$11,212$10,569$9,963$8,255
7 years$10,708$9,989$9,317$8,689$8,103$6,478
8 years$9,275$8,563$7,902$7,289$6,722$5,180
9 years$8,161$7,455$6,806$6,209$5,661$4,201
10 years$7,270$6,571$5,933$5,352$4,823$3,443
11 years$6,542$5,850$5,224$4,658$4,148$2,845
12 years$5,935$5,251$4,636$4,085$3,595$2,367
13 years$5,423$4,745$4,142$3,607$3,135$1,980
14 years$4,984$4,313$3,721$3,202$2,748$1,663
15 years$4,603$3,940$3,360$2,855$2,419$1,402
16 years$4,271$3,615$3,046$2,557$2,138$1,185
17 years$3,978$3,329$2,772$2,297$1,896$1,005
18 years$3,718$3,076$2,530$2,070$1,686$853
19 years$3,485$2,851$2,317$1,871$1,503$726
20 years$3,276$2,650$2,126$1,694$1,342$619
21 years$3,088$2,468$1,955$1,538$1,201$528
22 years$2,916$2,304$1,802$1,398$1,077$451
23 years$2,760$2,155$1,664$1,273$966$385
24 years$2,617$2,019$1,539$1,161$869$329
25 years$2,485$1,894$1,425$1,061$782$282
26 years$2,364$1,781$1,322$970$704$241
27 years$2,252$1,676$1,228$888$635$207
28 years$2,149$1,579$1,141$813$573$177
29 years$2,052$1,490$1,062$746$517$152
30 years$1,962$1,407$989$684$467$130
31 years$1,878$1,330$922$629$422$112
32 years$1,800$1,258$860$578$382$96
33 years$1,726$1,192$803$531$346$82
34 years$1,657$1,129$751$489$313$71
35 years$1,592$1,071$702$450$284$61
36 years$1,531$1,017$657$414$257$52
37 years$1,473$966$614$382$233$45
38 years$1,419$918$575$352$211$38
39 years$1,367$873$539$324$191$33
40 years$1,318$830$505$299$174$28
41 years$1,271$790$474$276$158$24
42 years$1,227$753$444$255$143$21
43 years$1,185$717$417$235$130$18
44 years$1,145$684$392$217$118$15
45 years$1,107$652$368$201$107$13
46 years$1,071$622$345$185$97$11
47 years$1,036$593$324$171$88$10
48 years$1,003$567$305$158$80$8
49 years$972$541$287$146$73$7
50 years$941$517$269$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $964,000, adding $5,204 every year, while hoping to spend $28,051 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: 67/13/20 Blend
65$964,000$964,000$964,000$964,000
66$1,067,696$1,016,604$1,001,662$1,133,563
67$1,146,755$1,036,571$1,005,372$1,198,292
68$1,232,938$1,056,577$1,008,265$1,265,327
69$1,326,941$1,076,594$1,010,286$1,337,960
70$1,429,533$1,096,590$1,011,375$1,416,741
71$1,541,557$1,116,535$1,011,467$1,502,276
72$1,663,944$1,136,393$1,010,499$1,595,234
73$1,797,716$1,156,126$1,008,401$1,696,350
74$1,944,000$1,175,694$1,005,099$1,806,435
75$2,104,037$1,195,052$1,000,519$1,926,385
76$2,279,193$1,214,153$994,581$2,057,186
77$2,470,973$1,232,948$987,201$2,199,923
78$2,681,031$1,251,382$978,292$2,355,794
79$2,911,193$1,269,397$967,761$2,526,120
80$3,163,468$1,286,931$955,514$2,712,355
81$3,440,068$1,303,916$941,450$2,916,103
82$3,743,429$1,320,283$925,463$3,139,133
83$4,076,237$1,335,954$907,444$3,383,392
84$4,441,446$1,350,849$887,277$3,651,030
85$4,842,314$1,364,881$864,841$3,944,412
86$5,282,428$1,377,958$840,011$4,266,150
87$5,765,738$1,389,981$812,654$4,619,121
88$6,296,598$1,400,845$782,632$5,006,494
89$6,879,803$1,410,437$749,802$5,431,766
90$7,520,634$1,418,640$714,012$5,898,790
91$8,224,911$1,425,326$675,104$6,411,811
92$8,999,046$1,430,361$632,913$6,975,513
93$9,850,101$1,433,601$587,268$7,595,054
94$10,785,858$1,434,894$537,988$8,276,122
95$11,814,890$1,434,078$484,885$9,024,987
96$12,946,642$1,430,982$427,763$9,848,558
97$14,191,523$1,425,423$366,416$10,754,453
98$15,560,997$1,417,208$300,630$11,751,067
99$17,067,699$1,406,131$230,182$12,847,653
100$18,725,549$1,391,976$154,837$14,054,412