Can I retire at age 66 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$79,689$78,979$78,286$77,610$76,950$74,132
2 years$39,450$38,715$38,003$37,313$36,643$33,835
3 years$26,039$25,301$24,591$23,907$23,248$20,538
4 years$19,334$18,599$17,896$17,223$16,581$13,990
5 years$15,313$14,582$13,888$13,229$12,604$10,140
6 years$12,633$11,907$11,223$10,580$9,973$7,637
7 years$10,719$9,999$9,327$8,698$8,111$5,902
8 years$9,285$8,571$7,910$7,297$6,729$4,645
9 years$8,169$7,463$6,813$6,215$5,667$3,705
10 years$7,278$6,578$5,939$5,357$4,828$2,985
11 years$6,549$5,856$5,229$4,663$4,152$2,425
12 years$5,942$5,256$4,641$4,090$3,598$1,981
13 years$5,428$4,750$4,146$3,611$3,138$1,627
14 years$4,989$4,318$3,725$3,205$2,751$1,341
15 years$4,608$3,944$3,363$2,858$2,422$1,109
16 years$4,275$3,619$3,049$2,559$2,141$920
17 years$3,982$3,333$2,775$2,300$1,898$764
18 years$3,722$3,080$2,533$2,072$1,688$636
19 years$3,489$2,854$2,319$1,873$1,504$531
20 years$3,280$2,652$2,128$1,696$1,344$443
21 years$3,091$2,470$1,958$1,539$1,202$370
22 years$2,919$2,306$1,804$1,399$1,078$309
23 years$2,763$2,157$1,666$1,275$967$259
24 years$2,619$2,021$1,541$1,162$870$217
25 years$2,488$1,896$1,427$1,062$782$181
26 years$2,367$1,782$1,323$971$705$152
27 years$2,255$1,677$1,229$888$635$127
28 years$2,151$1,581$1,142$814$573$107
29 years$2,054$1,491$1,063$746$518$90
30 years$1,964$1,408$990$685$468$75
31 years$1,880$1,331$923$629$423$63
32 years$1,802$1,260$861$578$383$53
33 years$1,728$1,193$804$532$346$44
34 years$1,659$1,131$751$489$313$37
35 years$1,594$1,072$703$450$284$31
36 years$1,533$1,018$657$415$257$26
37 years$1,475$967$615$382$233$22
38 years$1,420$919$576$352$211$18
39 years$1,368$874$540$325$192$16
40 years$1,319$831$506$300$174$13
41 years$1,273$791$474$276$158$11
42 years$1,229$753$445$255$143$9
43 years$1,187$718$418$235$130$8
44 years$1,147$684$392$217$118$6
45 years$1,108$653$368$201$107$5
46 years$1,072$623$346$185$97$5
47 years$1,037$594$325$171$88$4
48 years$1,004$567$305$158$80$3
49 years$973$542$287$146$73$3
50 years$942$517$270$135$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $965,000, adding $2,747 every year, while hoping to spend $54,932 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: 64/8/28 Blend
65$965,000$965,000$965,000$965,000
66$1,066,264$1,015,119$1,000,161$1,126,407
67$1,116,575$1,006,412$975,219$1,158,758
68$1,170,178$995,438$947,601$1,187,794
69$1,227,348$982,027$917,158$1,218,330
70$1,288,391$966,000$883,736$1,250,520
71$1,353,641$947,167$847,175$1,284,537
72$1,423,461$925,327$807,304$1,320,573
73$1,498,253$900,267$763,948$1,358,841
74$1,578,456$871,762$716,921$1,399,580
75$1,664,552$839,572$666,032$1,443,054
76$1,757,071$803,445$611,078$1,489,557
77$1,856,592$763,114$551,850$1,539,415
78$1,963,754$718,297$488,126$1,592,990
79$2,079,258$668,693$419,679$1,650,686
80$2,203,871$613,988$346,267$1,712,948
81$2,338,439$553,848$267,641$1,780,273
82$2,483,892$487,918$183,538$1,853,211
83$2,641,249$415,826$93,687$1,932,371
84$2,811,632$337,177$0$2,018,429
85$2,996,275$251,555$0$2,112,792
86$3,196,534$158,521$0$2,245,545
87$3,413,901$57,608$0$2,389,681
88$3,650,016$0$0$2,546,315
89$3,906,683$0$0$2,721,226
90$4,185,888$0$0$2,917,070
91$4,489,814$0$0$3,130,316
92$4,820,866$0$0$3,362,657
93$5,181,687$0$0$3,615,959
94$5,575,188$0$0$3,892,272
95$6,004,573$0$0$4,193,855
96$6,473,367$0$0$4,523,193
97$6,985,453$0$0$4,883,024
98$7,545,104$0$0$5,276,358
99$8,157,023$0$0$5,706,514
100$8,826,392$0$0$6,177,142