Can I retire at age 66 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$79,937$79,225$78,530$77,852$77,190$76,447
2 years$39,573$38,836$38,121$37,429$36,757$36,009
3 years$26,120$25,379$24,667$23,981$23,320$22,590
4 years$19,395$18,657$17,951$17,277$16,632$15,925
5 years$15,360$14,627$13,931$13,270$12,643$11,962
6 years$12,672$11,944$11,258$10,612$10,004$9,349
7 years$10,752$10,031$9,356$8,725$8,136$7,508
8 years$9,313$8,598$7,934$7,319$6,750$6,148
9 years$8,195$7,486$6,834$6,234$5,684$5,109
10 years$7,300$6,599$5,958$5,374$4,843$4,294
11 years$6,569$5,874$5,245$4,677$4,165$3,641
12 years$5,960$5,273$4,655$4,102$3,610$3,110
13 years$5,445$4,765$4,159$3,622$3,148$2,673
14 years$5,004$4,331$3,737$3,215$2,759$2,308
15 years$4,622$3,957$3,374$2,867$2,429$2,002
16 years$4,289$3,630$3,059$2,567$2,147$1,742
17 years$3,994$3,343$2,783$2,307$1,904$1,520
18 years$3,733$3,089$2,541$2,079$1,693$1,330
19 years$3,500$2,863$2,326$1,878$1,509$1,166
20 years$3,290$2,660$2,135$1,701$1,348$1,025
21 years$3,100$2,478$1,964$1,544$1,206$902
22 years$2,928$2,313$1,810$1,404$1,081$795
23 years$2,771$2,164$1,671$1,278$970$701
24 years$2,628$2,027$1,545$1,166$872$619
25 years$2,496$1,902$1,431$1,065$785$547
26 years$2,374$1,788$1,327$974$707$484
27 years$2,262$1,683$1,233$891$637$429
28 years$2,157$1,586$1,146$817$575$380
29 years$2,061$1,496$1,066$749$519$337
30 years$1,970$1,413$993$687$469$299
31 years$1,886$1,335$926$631$424$265
32 years$1,807$1,264$864$580$384$235
33 years$1,734$1,197$807$533$347$209
34 years$1,664$1,134$754$491$314$186
35 years$1,599$1,076$705$452$285$165
36 years$1,537$1,021$659$416$258$147
37 years$1,479$970$617$383$234$130
38 years$1,425$922$578$353$212$116
39 years$1,373$876$541$326$192$103
40 years$1,323$834$507$301$174$92
41 years$1,277$794$476$277$158$82
42 years$1,232$756$446$256$144$73
43 years$1,190$720$419$236$130$65
44 years$1,150$686$393$218$118$57
45 years$1,112$655$369$201$107$51
46 years$1,075$624$347$186$97$45
47 years$1,041$596$326$172$89$40
48 years$1,007$569$306$159$80$36
49 years$976$543$288$147$73$32
50 years$945$519$270$136$66$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $968,000, adding $3,586 every year, while hoping to spend $23,195 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: 54/17/29 Blend
65$968,000$968,000$968,000$968,000
66$1,070,435$1,019,131$1,004,127$1,119,417
67$1,154,940$1,044,389$1,013,086$1,178,969
68$1,247,287$1,070,107$1,021,568$1,241,109
69$1,348,252$1,096,284$1,029,532$1,308,304
70$1,458,688$1,122,916$1,036,935$1,381,051
71$1,579,535$1,150,000$1,043,733$1,459,895
72$1,711,829$1,177,531$1,049,880$1,545,436
73$1,856,708$1,205,504$1,055,324$1,638,338
74$2,015,429$1,233,910$1,060,014$1,739,329
75$2,189,374$1,262,742$1,063,895$1,849,216
76$2,380,065$1,291,991$1,066,910$1,968,885
77$2,589,178$1,321,646$1,068,999$2,099,313
78$2,818,561$1,351,693$1,070,097$2,241,580
79$3,070,248$1,382,120$1,070,139$2,396,872
80$3,346,479$1,412,909$1,069,054$2,566,499
81$3,649,722$1,444,044$1,066,769$2,751,905
82$3,982,695$1,475,504$1,063,208$2,954,682
83$4,348,394$1,507,267$1,058,289$3,176,583
84$4,750,118$1,539,311$1,051,929$3,419,542
85$5,191,500$1,571,607$1,044,039$3,685,690
86$5,676,544$1,604,127$1,034,525$3,977,378
87$6,209,662$1,636,839$1,023,292$4,297,195
88$6,795,712$1,669,709$1,010,237$4,647,996
89$7,440,048$1,702,698$995,253$5,032,928
90$8,148,568$1,735,766$978,230$5,455,462
91$8,927,771$1,768,867$959,049$5,919,420
92$9,784,816$1,801,954$937,590$6,429,019
93$10,727,592$1,834,975$913,724$6,988,905
94$11,764,789$1,867,872$887,317$7,604,200
95$12,905,985$1,900,585$858,229$8,280,550
96$14,161,730$1,933,048$826,314$9,024,178
97$15,543,650$1,965,191$791,420$9,841,944
98$17,064,555$1,996,938$753,385$10,741,410
99$18,738,559$2,028,207$712,043$11,730,910
100$20,581,214$2,058,911$667,218$12,819,632