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%16.4%
1 years$79,937$79,225$78,530$77,852$77,190$75,171
2 years$39,573$38,836$38,121$37,429$36,757$34,737
3 years$26,120$25,379$24,667$23,981$23,320$21,362
4 years$19,395$18,657$17,951$17,277$16,632$14,751
5 years$15,360$14,627$13,931$13,270$12,643$10,844
6 years$12,672$11,944$11,258$10,612$10,004$8,289
7 years$10,752$10,031$9,356$8,725$8,136$6,505
8 years$9,313$8,598$7,934$7,319$6,750$5,202
9 years$8,195$7,486$6,834$6,234$5,684$4,218
10 years$7,300$6,599$5,958$5,374$4,843$3,457
11 years$6,569$5,874$5,245$4,677$4,165$2,857
12 years$5,960$5,273$4,655$4,102$3,610$2,377
13 years$5,445$4,765$4,159$3,622$3,148$1,988
14 years$5,004$4,331$3,737$3,215$2,759$1,670
15 years$4,622$3,957$3,374$2,867$2,429$1,408
16 years$4,289$3,630$3,059$2,567$2,147$1,190
17 years$3,994$3,343$2,783$2,307$1,904$1,009
18 years$3,733$3,089$2,541$2,079$1,693$857
19 years$3,500$2,863$2,326$1,878$1,509$729
20 years$3,290$2,660$2,135$1,701$1,348$621
21 years$3,100$2,478$1,964$1,544$1,206$530
22 years$2,928$2,313$1,810$1,404$1,081$452
23 years$2,771$2,164$1,671$1,278$970$387
24 years$2,628$2,027$1,545$1,166$872$331
25 years$2,496$1,902$1,431$1,065$785$283
26 years$2,374$1,788$1,327$974$707$242
27 years$2,262$1,683$1,233$891$637$208
28 years$2,157$1,586$1,146$817$575$178
29 years$2,061$1,496$1,066$749$519$153
30 years$1,970$1,413$993$687$469$131
31 years$1,886$1,335$926$631$424$112
32 years$1,807$1,264$864$580$384$96
33 years$1,734$1,197$807$533$347$83
34 years$1,664$1,134$754$491$314$71
35 years$1,599$1,076$705$452$285$61
36 years$1,537$1,021$659$416$258$52
37 years$1,479$970$617$383$234$45
38 years$1,425$922$578$353$212$39
39 years$1,373$876$541$326$192$33
40 years$1,323$834$507$301$174$28
41 years$1,277$794$476$277$158$24
42 years$1,232$756$446$256$144$21
43 years$1,190$720$419$236$130$18
44 years$1,150$686$393$218$118$15
45 years$1,112$655$369$201$107$13
46 years$1,075$624$347$186$97$11
47 years$1,041$596$326$172$89$10
48 years$1,007$569$306$159$80$8
49 years$976$543$288$147$73$7
50 years$945$519$270$136$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $968,000, adding $6,594 every year, while hoping to spend $50,376 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: 66/14/20 Blend
65$968,000$968,000$968,000$968,000
66$1,073,538$1,022,234$1,007,230$1,138,575
67$1,129,439$1,018,723$987,372$1,179,498
68$1,189,354$1,013,353$965,161$1,217,832
69$1,253,638$1,005,978$940,464$1,258,540
70$1,322,683$996,444$913,144$1,301,856
71$1,396,918$984,591$883,055$1,348,038
72$1,476,813$970,246$850,047$1,397,373
73$1,562,886$953,225$813,961$1,450,176
74$1,655,704$933,338$774,633$1,506,800
75$1,755,892$910,378$731,890$1,567,631
76$1,864,136$884,129$685,551$1,633,101
77$1,981,188$854,362$635,428$1,703,684
78$2,107,878$820,834$581,323$1,779,906
79$2,245,115$783,288$523,030$1,862,351
80$2,393,900$741,453$460,336$1,951,661
81$2,555,335$695,041$393,014$2,048,548
82$2,730,630$643,749$320,830$2,153,801
83$2,921,116$587,254$243,540$2,268,291
84$3,128,259$525,219$160,888$2,392,979
85$3,353,670$457,283$72,606$2,528,931
86$3,599,122$383,067$0$2,677,324
87$3,866,566$302,172$0$2,844,068
88$4,158,150$214,173$0$3,042,824
89$4,476,238$118,623$0$3,259,736
90$4,823,430$15,052$0$3,496,625
91$5,202,590$0$0$3,755,500
92$5,616,870$0$0$4,053,527
93$6,069,741$0$0$4,381,909
94$6,565,023$0$0$4,741,106
95$7,106,923$0$0$5,134,177
96$7,700,074$0$0$5,564,490
97$8,349,575$0$0$6,035,754
98$9,061,044$0$0$6,552,053
99$9,840,668$0$0$7,117,884
100$10,695,258$0$0$7,738,203