Can I retire at age 66 with 964,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%12%
1 years$79,606$78,897$78,205$77,530$76,871$76,227
2 years$39,409$38,675$37,964$37,274$36,605$35,956
3 years$26,012$25,275$24,565$23,882$23,224$22,590
4 years$19,314$18,579$17,877$17,206$16,563$15,949
5 years$15,297$14,567$13,873$13,215$12,591$11,999
6 years$12,620$11,895$11,212$10,569$9,963$9,393
7 years$10,708$9,989$9,317$8,689$8,103$7,555
8 years$9,275$8,563$7,902$7,289$6,722$6,197
9 years$8,161$7,455$6,806$6,209$5,661$5,159
10 years$7,270$6,571$5,933$5,352$4,823$4,344
11 years$6,542$5,850$5,224$4,658$4,148$3,691
12 years$5,935$5,251$4,636$4,085$3,595$3,159
13 years$5,423$4,745$4,142$3,607$3,135$2,720
14 years$4,984$4,313$3,721$3,202$2,748$2,353
15 years$4,603$3,940$3,360$2,855$2,419$2,045
16 years$4,271$3,615$3,046$2,557$2,138$1,783
17 years$3,978$3,329$2,772$2,297$1,896$1,559
18 years$3,718$3,076$2,530$2,070$1,686$1,367
19 years$3,485$2,851$2,317$1,871$1,503$1,202
20 years$3,276$2,650$2,126$1,694$1,342$1,058
21 years$3,088$2,468$1,955$1,538$1,201$933
22 years$2,916$2,304$1,802$1,398$1,077$824
23 years$2,760$2,155$1,664$1,273$966$729
24 years$2,617$2,019$1,539$1,161$869$645
25 years$2,485$1,894$1,425$1,061$782$572
26 years$2,364$1,781$1,322$970$704$507
27 years$2,252$1,676$1,228$888$635$450
28 years$2,149$1,579$1,141$813$573$400
29 years$2,052$1,490$1,062$746$517$355
30 years$1,962$1,407$989$684$467$316
31 years$1,878$1,330$922$629$422$281
32 years$1,800$1,258$860$578$382$250
33 years$1,726$1,192$803$531$346$223
34 years$1,657$1,129$751$489$313$198
35 years$1,592$1,071$702$450$284$177
36 years$1,531$1,017$657$414$257$157
37 years$1,473$966$614$382$233$140
38 years$1,419$918$575$352$211$125
39 years$1,367$873$539$324$191$111
40 years$1,318$830$505$299$174$99
41 years$1,271$790$474$276$158$89
42 years$1,227$753$444$255$143$79
43 years$1,185$717$417$235$130$71
44 years$1,145$684$392$217$118$63
45 years$1,107$652$368$201$107$56
46 years$1,071$622$345$185$97$50
47 years$1,036$593$324$171$88$45
48 years$1,003$567$305$158$80$40
49 years$972$541$287$146$73$36
50 years$941$517$269$135$66$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $964,000, adding $6,291 every year, while hoping to spend $32,162 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: 56/26/18 Blend
65$964,000$964,000$964,000$964,000
66$1,068,817$1,017,725$1,002,783$1,123,218
67$1,143,616$1,033,374$1,002,156$1,176,619
68$1,224,967$1,048,711$1,000,430$1,230,766
69$1,313,504$1,063,688$997,535$1,289,034
70$1,409,924$1,078,252$993,396$1,351,826
71$1,514,997$1,092,346$987,934$1,419,587
72$1,629,566$1,105,911$981,070$1,492,805
73$1,754,563$1,118,881$972,717$1,572,022
74$1,891,011$1,131,189$962,786$1,657,835
75$2,040,038$1,142,761$951,182$1,750,901
76$2,202,884$1,153,518$937,809$1,851,948
77$2,380,915$1,163,377$922,562$1,961,775
78$2,575,635$1,172,250$905,335$2,081,267
79$2,788,700$1,180,041$886,014$2,211,400
80$3,021,935$1,186,650$864,483$2,353,249
81$3,277,346$1,191,969$840,617$2,508,002
82$3,557,144$1,195,885$814,287$2,676,968
83$3,863,766$1,198,277$785,359$2,861,591
84$4,199,893$1,199,015$753,691$3,063,466
85$4,568,479$1,197,963$719,136$3,284,351
86$4,972,776$1,194,976$681,539$3,526,185
87$5,416,368$1,189,899$640,740$3,791,108
88$5,903,203$1,182,569$596,570$4,081,479
89$6,437,627$1,172,812$548,853$4,399,902
90$7,024,430$1,160,445$497,404$4,749,248
91$7,668,887$1,145,272$442,032$5,132,683
92$8,376,809$1,127,086$382,536$5,553,700
93$9,154,599$1,105,669$318,707$6,016,152
94$10,009,310$1,080,788$250,325$6,524,287
95$10,948,710$1,052,197$177,161$7,082,790
96$11,981,360$1,019,637$98,978$7,696,829
97$13,116,691$982,831$15,526$8,372,103
98$14,365,093$941,489$0$9,114,895
99$15,738,012$895,302$0$9,946,258
100$17,248,061$843,943$0$10,863,812