Can I retire at age 66 with 966,000?

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 $966,000?

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$79,771$79,061$78,368$77,691$77,030$75,973
2 years$39,491$38,755$38,043$37,351$36,681$35,618
3 years$26,066$25,327$24,616$23,931$23,272$22,236
4 years$19,354$18,618$17,914$17,241$16,598$15,597
5 years$15,329$14,597$13,902$13,243$12,617$11,654
6 years$12,646$11,919$11,235$10,590$9,984$9,060
7 years$10,730$10,010$9,336$8,707$8,119$7,235
8 years$9,294$8,580$7,918$7,304$6,736$5,890
9 years$8,178$7,471$6,820$6,221$5,673$4,866
10 years$7,285$6,585$5,946$5,363$4,833$4,065
11 years$6,555$5,862$5,234$4,667$4,157$3,426
12 years$5,948$5,262$4,645$4,094$3,602$2,908
13 years$5,434$4,755$4,150$3,614$3,141$2,483
14 years$4,994$4,322$3,729$3,208$2,754$2,130
15 years$4,613$3,948$3,367$2,861$2,424$1,834
16 years$4,280$3,623$3,053$2,562$2,143$1,585
17 years$3,986$3,336$2,778$2,302$1,900$1,374
18 years$3,725$3,083$2,536$2,075$1,689$1,194
19 years$3,493$2,857$2,321$1,874$1,506$1,039
20 years$3,283$2,655$2,130$1,698$1,345$906
21 years$3,094$2,473$1,960$1,541$1,204$791
22 years$2,922$2,308$1,806$1,401$1,079$692
23 years$2,766$2,159$1,668$1,276$968$606
24 years$2,622$2,023$1,542$1,164$870$531
25 years$2,490$1,898$1,428$1,063$783$466
26 years$2,369$1,784$1,325$972$706$409
27 years$2,257$1,679$1,230$889$636$359
28 years$2,153$1,582$1,144$815$574$316
29 years$2,056$1,493$1,064$747$518$278
30 years$1,966$1,410$991$686$468$244
31 years$1,882$1,333$924$630$423$215
32 years$1,804$1,261$862$579$383$189
33 years$1,730$1,194$805$532$347$167
34 years$1,661$1,132$752$490$314$147
35 years$1,596$1,073$703$451$284$129
36 years$1,534$1,019$658$415$258$114
37 years$1,476$968$616$383$233$101
38 years$1,422$920$577$353$212$89
39 years$1,370$874$540$325$192$78
40 years$1,321$832$506$300$174$69
41 years$1,274$792$475$277$158$61
42 years$1,230$754$445$255$143$54
43 years$1,188$719$418$236$130$47
44 years$1,148$685$392$218$118$42
45 years$1,110$653$368$201$107$37
46 years$1,073$623$346$186$97$32
47 years$1,038$595$325$172$88$29
48 years$1,005$568$305$159$80$25
49 years$974$542$287$146$73$22
50 years$943$518$270$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $966,000, adding $6,846 every year, while hoping to spend $28,269 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: 65/28/7 Blend
65$966,000$966,000$966,000$966,000
66$1,071,594$1,020,396$1,005,423$1,139,449
67$1,150,818$1,040,317$1,009,026$1,205,368
68$1,237,176$1,060,267$1,011,803$1,273,365
69$1,331,365$1,080,217$1,013,696$1,346,910
70$1,434,154$1,100,137$1,014,644$1,426,540
71$1,546,387$1,119,993$1,014,584$1,512,846
72$1,668,995$1,139,750$1,013,449$1,606,479
73$1,803,003$1,159,368$1,011,170$1,708,158
74$1,949,538$1,178,806$1,007,673$1,818,671
75$2,109,843$1,198,019$1,002,882$1,938,891
76$2,285,285$1,216,960$996,716$2,069,777
77$2,477,369$1,235,576$989,092$2,212,387
78$2,687,754$1,253,812$979,919$2,367,885
79$2,918,265$1,271,610$969,107$2,537,555
80$3,170,914$1,288,905$956,558$2,722,813
81$3,447,915$1,305,629$942,171$2,925,217
82$3,751,708$1,321,710$925,839$3,146,486
83$4,084,979$1,337,070$907,451$3,388,513
84$4,450,687$1,351,627$886,891$3,653,386
85$4,852,092$1,365,292$864,037$3,943,405
86$5,292,785$1,377,971$838,762$4,261,106
87$5,776,720$1,389,563$810,932$4,609,281
88$6,308,256$1,399,961$780,407$4,991,010
89$6,892,190$1,409,052$747,044$5,409,689
90$7,533,812$1,416,713$710,687$5,869,057
91$8,238,945$1,422,817$671,180$6,373,237
92$9,014,007$1,427,225$628,354$6,926,775
93$9,866,069$1,429,791$582,037$7,534,679
94$10,802,918$1,430,362$532,046$8,202,470
95$11,833,138$1,428,771$478,191$8,936,234
96$12,966,182$1,424,845$420,275$9,742,676
97$14,212,467$1,418,397$358,089$10,629,189
98$15,583,471$1,409,231$291,417$11,603,922
99$17,091,840$1,397,138$220,034$12,675,854
100$18,751,506$1,381,896$143,704$13,854,884