Can I retire at age 66 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$79,854$79,143$78,449$77,771$77,110$75,895
2 years$39,532$38,795$38,082$37,390$36,719$35,498
3 years$26,093$25,353$24,642$23,956$23,296$22,107
4 years$19,374$18,637$17,933$17,259$16,615$15,467
5 years$15,345$14,612$13,917$13,257$12,630$11,527
6 years$12,659$11,932$11,247$10,601$9,994$8,937
7 years$10,741$10,020$9,346$8,716$8,128$7,117
8 years$9,304$8,589$7,926$7,312$6,743$5,778
9 years$8,186$7,478$6,827$6,228$5,678$4,759
10 years$7,293$6,592$5,952$5,369$4,838$3,963
11 years$6,562$5,868$5,240$4,672$4,161$3,330
12 years$5,954$5,267$4,650$4,098$3,606$2,817
13 years$5,440$4,760$4,155$3,618$3,144$2,398
14 years$4,999$4,327$3,733$3,212$2,756$2,050
15 years$4,618$3,952$3,370$2,864$2,427$1,760
16 years$4,284$3,626$3,056$2,565$2,145$1,515
17 years$3,990$3,340$2,781$2,304$1,902$1,309
18 years$3,729$3,086$2,538$2,077$1,691$1,133
19 years$3,496$2,860$2,324$1,876$1,507$982
20 years$3,287$2,658$2,133$1,699$1,346$854
21 years$3,097$2,476$1,962$1,542$1,205$743
22 years$2,925$2,311$1,808$1,402$1,080$647
23 years$2,768$2,161$1,669$1,277$969$564
24 years$2,625$2,025$1,544$1,165$871$493
25 years$2,493$1,900$1,430$1,064$784$431
26 years$2,372$1,786$1,326$973$706$376
27 years$2,259$1,681$1,231$890$637$329
28 years$2,155$1,584$1,145$816$575$288
29 years$2,059$1,494$1,065$748$519$253
30 years$1,968$1,411$992$687$469$221
31 years$1,884$1,334$925$631$424$194
32 years$1,806$1,262$863$579$383$170
33 years$1,732$1,195$806$533$347$149
34 years$1,662$1,133$753$490$314$131
35 years$1,597$1,075$704$451$285$115
36 years$1,536$1,020$659$416$258$101
37 years$1,478$969$616$383$234$88
38 years$1,423$921$577$353$212$78
39 years$1,371$875$541$325$192$68
40 years$1,322$833$507$300$174$60
41 years$1,275$793$475$277$158$53
42 years$1,231$755$446$256$143$46
43 years$1,189$719$418$236$130$41
44 years$1,149$686$393$218$118$36
45 years$1,111$654$369$201$107$31
46 years$1,074$624$346$186$97$27
47 years$1,040$595$325$172$88$24
48 years$1,006$568$306$159$80$21
49 years$975$543$287$147$73$19
50 years$944$518$270$136$66$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $967,000, adding $5,485 every year, while hoping to spend $37,010 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: 62/21/17 Blend
65$967,000$967,000$967,000$967,000
66$1,071,292$1,020,041$1,005,052$1,132,789
67$1,141,185$1,030,644$999,343$1,185,443
68$1,216,967$1,040,527$992,202$1,238,242
69$1,299,200$1,049,615$983,543$1,295,008
70$1,388,500$1,057,828$973,274$1,356,131
71$1,485,548$1,065,082$961,299$1,422,040
72$1,591,090$1,071,287$947,519$1,493,207
73$1,705,949$1,076,348$931,828$1,570,157
74$1,831,029$1,080,163$914,118$1,653,464
75$1,967,327$1,082,624$894,274$1,743,765
76$2,115,937$1,083,615$872,175$1,841,763
77$2,278,066$1,083,015$847,696$1,948,233
78$2,455,040$1,080,694$820,705$2,064,029
79$2,648,321$1,076,515$791,065$2,190,097
80$2,859,516$1,070,332$758,633$2,327,476
81$3,090,398$1,061,989$723,258$2,477,318
82$3,342,914$1,051,322$684,783$2,640,889
83$3,619,212$1,038,157$643,044$2,819,590
84$3,921,655$1,022,310$597,870$3,014,965
85$4,252,846$1,003,585$549,080$3,228,717
86$4,615,650$981,775$496,488$3,462,726
87$5,013,224$956,660$439,898$3,719,067
88$5,449,045$928,008$379,106$4,000,027
89$5,926,939$895,572$313,899$4,308,130
90$6,451,125$859,094$244,052$4,646,162
91$7,026,247$818,296$169,335$5,017,194
92$7,657,420$772,888$89,503$5,424,614
93$8,350,279$722,562$4,304$5,872,161
94$9,111,031$666,991$0$6,363,958
95$9,946,515$605,832$0$6,920,263
96$10,864,262$538,720$0$7,532,235
97$11,872,569$465,270$0$8,204,676
98$12,980,579$385,077$0$8,943,744
99$14,198,362$297,709$0$9,756,223
100$15,537,012$202,714$0$10,649,593