Can I retire at age 66 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$80,019$79,306$78,611$77,932$77,269$74,676
2 years$39,613$38,876$38,161$37,467$36,795$34,208
3 years$26,147$25,406$24,692$24,006$23,344$20,845
4 years$19,415$18,676$17,970$17,295$16,649$14,256
5 years$15,376$14,642$13,945$13,284$12,657$10,377
6 years$12,685$11,956$11,270$10,623$10,015$7,849
7 years$10,764$10,041$9,365$8,734$8,145$6,094
8 years$9,323$8,607$7,943$7,327$6,757$4,819
9 years$8,203$7,494$6,841$6,241$5,690$3,863
10 years$7,308$6,606$5,964$5,380$4,848$3,128
11 years$6,576$5,880$5,251$4,682$4,170$2,554
12 years$5,966$5,278$4,660$4,107$3,613$2,098
13 years$5,451$4,770$4,163$3,626$3,151$1,732
14 years$5,009$4,336$3,741$3,218$2,762$1,436
15 years$4,627$3,961$3,377$2,870$2,432$1,195
16 years$4,293$3,634$3,062$2,570$2,149$996
17 years$3,999$3,347$2,786$2,309$1,906$833
18 years$3,737$3,092$2,544$2,081$1,695$697
19 years$3,503$2,866$2,329$1,880$1,510$585
20 years$3,293$2,663$2,137$1,703$1,349$491
21 years$3,104$2,481$1,966$1,546$1,207$413
22 years$2,931$2,316$1,812$1,405$1,082$347
23 years$2,774$2,166$1,673$1,280$971$293
24 years$2,630$2,029$1,547$1,167$873$246
25 years$2,498$1,904$1,433$1,066$786$208
26 years$2,377$1,790$1,329$975$708$175
27 years$2,264$1,684$1,234$892$638$148
28 years$2,160$1,587$1,147$817$576$125
29 years$2,063$1,497$1,068$750$520$105
30 years$1,972$1,414$994$688$470$89
31 years$1,888$1,337$927$632$425$75
32 years$1,809$1,265$865$581$384$63
33 years$1,735$1,198$808$534$348$54
34 years$1,666$1,135$755$491$315$45
35 years$1,601$1,077$705$452$285$38
36 years$1,539$1,022$660$417$258$32
37 years$1,481$971$618$384$234$27
38 years$1,426$922$578$354$212$23
39 years$1,374$877$542$326$192$19
40 years$1,325$835$508$301$175$16
41 years$1,278$794$476$278$158$14
42 years$1,234$757$447$256$144$12
43 years$1,191$721$419$236$130$10
44 years$1,151$687$394$218$118$8
45 years$1,113$655$370$202$107$7
46 years$1,077$625$347$186$98$6
47 years$1,042$597$326$172$89$5
48 years$1,008$569$306$159$80$4
49 years$977$544$288$147$73$4
50 years$946$519$271$136$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $969,000, adding $6,082 every year, while hoping to spend $44,503 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: 34/42/24 Blend
65$969,000$969,000$969,000$969,000
66$1,074,112$1,022,755$1,007,735$1,102,615
67$1,136,320$1,025,519$994,143$1,127,164
68$1,203,382$1,026,927$978,605$1,149,152
69$1,275,746$1,026,865$961,007$1,171,970
70$1,353,905$1,025,214$941,233$1,195,723
71$1,438,398$1,021,844$919,159$1,220,525
72$1,529,821$1,016,621$894,658$1,246,507
73$1,628,828$1,009,400$867,593$1,273,819
74$1,736,136$1,000,029$837,826$1,302,627
75$1,852,537$988,345$805,208$1,333,119
76$1,978,899$974,178$769,586$1,365,508
77$2,116,179$957,344$730,799$1,400,031
78$2,265,426$937,652$688,678$1,436,956
79$2,427,800$914,896$643,049$1,476,583
80$2,604,571$888,862$593,726$1,519,249
81$2,797,141$859,320$540,520$1,565,329
82$3,007,050$826,027$483,228$1,615,245
83$3,235,995$788,728$421,642$1,669,468
84$3,485,842$747,152$355,543$1,728,522
85$3,758,647$701,011$284,702$1,792,997
86$4,056,671$650,003$208,882$1,863,546
87$4,382,405$593,806$127,833$1,940,900
88$4,738,590$532,083$41,295$2,025,872
89$5,128,246$464,474$0$2,119,369
90$5,554,695$390,602$0$2,235,473
91$6,021,598$310,065$0$2,374,367
92$6,532,985$222,443$0$2,526,789
93$7,093,296$127,289$0$2,694,204
94$7,707,417$24,131$0$2,878,237
95$8,380,733$0$0$3,080,684
96$9,119,172$0$0$3,343,987
97$9,929,266$0$0$3,645,220
98$10,818,207$0$0$3,975,924
99$11,793,920$0$0$4,339,064
100$12,865,131$0$0$4,737,910