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%13.7%
1 years$80,019$79,306$78,611$77,932$77,269$76,083
2 years$39,613$38,876$38,161$37,467$36,795$35,603
3 years$26,147$25,406$24,692$24,006$23,344$22,183
4 years$19,415$18,676$17,970$17,295$16,649$15,528
5 years$15,376$14,642$13,945$13,284$12,657$11,579
6 years$12,685$11,956$11,270$10,623$10,015$8,982
7 years$10,764$10,041$9,365$8,734$8,145$7,156
8 years$9,323$8,607$7,943$7,327$6,757$5,813
9 years$8,203$7,494$6,841$6,241$5,690$4,791
10 years$7,308$6,606$5,964$5,380$4,848$3,992
11 years$6,576$5,880$5,251$4,682$4,170$3,356
12 years$5,966$5,278$4,660$4,107$3,613$2,842
13 years$5,451$4,770$4,163$3,626$3,151$2,420
14 years$5,009$4,336$3,741$3,218$2,762$2,070
15 years$4,627$3,961$3,377$2,870$2,432$1,778
16 years$4,293$3,634$3,062$2,570$2,149$1,533
17 years$3,999$3,347$2,786$2,309$1,906$1,324
18 years$3,737$3,092$2,544$2,081$1,695$1,147
19 years$3,503$2,866$2,329$1,880$1,510$996
20 years$3,293$2,663$2,137$1,703$1,349$866
21 years$3,104$2,481$1,966$1,546$1,207$754
22 years$2,931$2,316$1,812$1,405$1,082$657
23 years$2,774$2,166$1,673$1,280$971$574
24 years$2,630$2,029$1,547$1,167$873$501
25 years$2,498$1,904$1,433$1,066$786$438
26 years$2,377$1,790$1,329$975$708$384
27 years$2,264$1,684$1,234$892$638$336
28 years$2,160$1,587$1,147$817$576$294
29 years$2,063$1,497$1,068$750$520$258
30 years$1,972$1,414$994$688$470$226
31 years$1,888$1,337$927$632$425$198
32 years$1,809$1,265$865$581$384$174
33 years$1,735$1,198$808$534$348$153
34 years$1,666$1,135$755$491$315$134
35 years$1,601$1,077$705$452$285$118
36 years$1,539$1,022$660$417$258$103
37 years$1,481$971$618$384$234$91
38 years$1,426$922$578$354$212$80
39 years$1,374$877$542$326$192$70
40 years$1,325$835$508$301$175$62
41 years$1,278$794$476$278$158$54
42 years$1,234$757$447$256$144$48
43 years$1,191$721$419$236$130$42
44 years$1,151$687$394$218$118$37
45 years$1,113$655$370$202$107$32
46 years$1,077$625$347$186$98$28
47 years$1,042$597$326$172$89$25
48 years$1,008$569$306$159$80$22
49 years$977$544$288$147$73$19
50 years$946$519$271$136$66$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $969,000, adding $3,465 every year, while hoping to spend $20,017 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: 31/46/23 Blend
65$969,000$969,000$969,000$969,000
66$1,071,412$1,020,055$1,005,036$1,096,914
67$1,159,398$1,048,740$1,017,406$1,145,293
68$1,255,688$1,078,159$1,029,521$1,195,304
69$1,361,107$1,108,328$1,041,349$1,248,730
70$1,476,566$1,139,262$1,052,859$1,305,880
71$1,603,064$1,170,975$1,064,019$1,367,095
72$1,741,707$1,203,482$1,074,793$1,432,752
73$1,893,707$1,236,799$1,085,145$1,503,264
74$2,060,403$1,270,940$1,095,035$1,579,087
75$2,243,268$1,305,920$1,104,424$1,660,720
76$2,443,927$1,341,755$1,113,267$1,748,716
77$2,664,165$1,378,459$1,121,519$1,843,681
78$2,905,953$1,416,046$1,129,133$1,946,284
79$3,171,459$1,454,532$1,136,058$2,057,262
80$3,463,074$1,493,930$1,142,242$2,177,425
81$3,783,429$1,534,254$1,147,629$2,307,665
82$4,135,425$1,575,519$1,152,160$2,448,967
83$4,522,257$1,617,738$1,155,776$2,602,414
84$4,947,443$1,660,923$1,158,410$2,769,199
85$5,414,861$1,705,087$1,159,996$2,950,637
86$5,928,784$1,750,244$1,160,463$3,148,177
87$6,493,918$1,796,403$1,159,736$3,363,414
88$7,115,447$1,843,577$1,157,738$3,598,106
89$7,799,086$1,891,775$1,154,385$3,854,191
90$8,551,129$1,941,008$1,149,593$4,133,804
91$9,378,511$1,991,285$1,143,271$4,439,296
92$10,288,874$2,042,612$1,135,325$4,773,261
93$11,290,637$2,094,998$1,125,657$5,138,553
94$12,393,077$2,148,448$1,114,161$5,538,321
95$13,606,416$2,202,968$1,100,731$5,976,033
96$14,941,917$2,258,560$1,085,252$6,455,512
97$16,411,990$2,315,226$1,067,606$6,980,970
98$18,030,310$2,372,969$1,047,667$7,557,049
99$19,811,943$2,431,786$1,025,305$8,188,865
100$21,773,493$2,491,675$1,000,385$8,882,057