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%13.3%
1 years$79,606$78,897$78,205$77,530$76,871$75,816
2 years$39,409$38,675$37,964$37,274$36,605$35,544
3 years$26,012$25,275$24,565$23,882$23,224$22,190
4 years$19,314$18,579$17,877$17,206$16,563$15,564
5 years$15,297$14,567$13,873$13,215$12,591$11,630
6 years$12,620$11,895$11,212$10,569$9,963$9,041
7 years$10,708$9,989$9,317$8,689$8,103$7,220
8 years$9,275$8,563$7,902$7,289$6,722$5,878
9 years$8,161$7,455$6,806$6,209$5,661$4,856
10 years$7,270$6,571$5,933$5,352$4,823$4,056
11 years$6,542$5,850$5,224$4,658$4,148$3,419
12 years$5,935$5,251$4,636$4,085$3,595$2,902
13 years$5,423$4,745$4,142$3,607$3,135$2,478
14 years$4,984$4,313$3,721$3,202$2,748$2,126
15 years$4,603$3,940$3,360$2,855$2,419$1,831
16 years$4,271$3,615$3,046$2,557$2,138$1,582
17 years$3,978$3,329$2,772$2,297$1,896$1,371
18 years$3,718$3,076$2,530$2,070$1,686$1,191
19 years$3,485$2,851$2,317$1,871$1,503$1,037
20 years$3,276$2,650$2,126$1,694$1,342$904
21 years$3,088$2,468$1,955$1,538$1,201$790
22 years$2,916$2,304$1,802$1,398$1,077$691
23 years$2,760$2,155$1,664$1,273$966$605
24 years$2,617$2,019$1,539$1,161$869$530
25 years$2,485$1,894$1,425$1,061$782$465
26 years$2,364$1,781$1,322$970$704$408
27 years$2,252$1,676$1,228$888$635$359
28 years$2,149$1,579$1,141$813$573$315
29 years$2,052$1,490$1,062$746$517$277
30 years$1,962$1,407$989$684$467$244
31 years$1,878$1,330$922$629$422$215
32 years$1,800$1,258$860$578$382$189
33 years$1,726$1,192$803$531$346$166
34 years$1,657$1,129$751$489$313$147
35 years$1,592$1,071$702$450$284$129
36 years$1,531$1,017$657$414$257$114
37 years$1,473$966$614$382$233$100
38 years$1,419$918$575$352$211$88
39 years$1,367$873$539$324$191$78
40 years$1,318$830$505$299$174$69
41 years$1,271$790$474$276$158$61
42 years$1,227$753$444$255$143$53
43 years$1,185$717$417$235$130$47
44 years$1,145$684$392$217$118$42
45 years$1,107$652$368$201$107$37
46 years$1,071$622$345$185$97$32
47 years$1,036$593$324$171$88$29
48 years$1,003$567$305$158$80$25
49 years$972$541$287$146$73$22
50 years$941$517$269$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $964,000, adding $2,153 every year, while hoping to spend $49,092 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: 80/6/14 Blend
65$964,000$964,000$964,000$964,000
66$1,064,549$1,013,457$998,515$1,146,570
67$1,120,899$1,010,883$979,732$1,198,228
68$1,181,352$1,006,537$958,674$1,248,350
69$1,246,274$1,000,281$935,213$1,301,948
70$1,316,067$991,968$909,216$1,359,349
71$1,391,174$981,442$880,542$1,420,913
72$1,472,078$968,538$849,045$1,487,035
73$1,559,314$953,080$814,572$1,558,152
74$1,653,465$934,882$776,962$1,634,746
75$1,755,176$913,749$736,047$1,717,347
76$1,865,153$889,471$691,654$1,806,539
77$1,984,172$861,829$643,597$1,902,967
78$2,113,087$830,588$591,688$2,007,342
79$2,252,838$795,503$535,725$2,120,447
80$2,404,455$756,311$475,500$2,243,146
81$2,569,076$712,736$410,795$2,376,390
82$2,747,948$664,486$341,383$2,521,230
83$2,942,444$611,252$267,025$2,678,822
84$3,154,077$552,707$187,474$2,850,444
85$3,384,509$488,505$102,470$3,037,501
86$3,635,569$418,282$11,743$3,241,545
87$3,909,272$341,652$0$3,464,287
88$4,207,832$258,208$0$3,720,320
89$4,533,690$167,520$0$4,001,714
90$4,889,530$69,132$0$4,309,049
91$5,278,308$0$0$4,644,903
92$5,703,278$0$0$5,014,582
93$6,168,023$0$0$5,423,877
94$6,676,486$0$0$5,871,702
95$7,233,011$0$0$6,361,884
96$7,842,380$0$0$6,898,640
97$8,509,861$0$0$7,486,612
98$9,241,253$0$0$8,130,913
99$10,042,943$0$0$8,837,174
100$10,921,967$0$0$9,611,596