Can I retire at age 66 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$80,102$79,388$78,692$78,013$77,349$76,797
2 years$39,654$38,916$38,200$37,506$36,833$36,276
3 years$26,174$25,432$24,718$24,030$23,368$22,824
4 years$19,435$18,695$17,988$17,313$16,666$16,139
5 years$15,392$14,657$13,960$13,298$12,670$12,161
6 years$12,698$11,969$11,282$10,634$10,025$9,535
7 years$10,775$10,051$9,375$8,743$8,153$7,683
8 years$9,333$8,616$7,951$7,334$6,764$6,313
9 years$8,212$7,502$6,848$6,247$5,696$5,264
10 years$7,315$6,612$5,970$5,385$4,853$4,440
11 years$6,583$5,887$5,256$4,687$4,174$3,779
12 years$5,972$5,283$4,665$4,111$3,617$3,241
13 years$5,456$4,775$4,168$3,629$3,154$2,796
14 years$5,015$4,340$3,745$3,222$2,765$2,424
15 years$4,632$3,965$3,381$2,873$2,434$2,110
16 years$4,297$3,638$3,065$2,573$2,152$1,844
17 years$4,003$3,350$2,789$2,311$1,908$1,616
18 years$3,741$3,096$2,546$2,083$1,696$1,420
19 years$3,507$2,869$2,331$1,882$1,512$1,251
20 years$3,297$2,666$2,139$1,705$1,350$1,104
21 years$3,107$2,483$1,968$1,547$1,209$975
22 years$2,934$2,318$1,814$1,407$1,083$863
23 years$2,777$2,168$1,674$1,281$972$765
24 years$2,633$2,031$1,549$1,168$874$679
25 years$2,501$1,906$1,434$1,067$786$603
26 years$2,379$1,792$1,330$976$708$536
27 years$2,266$1,686$1,235$893$639$477
28 years$2,162$1,589$1,148$818$576$425
29 years$2,065$1,499$1,069$750$520$378
30 years$1,975$1,415$995$689$470$337
31 years$1,890$1,338$928$632$425$301
32 years$1,811$1,266$866$581$385$268
33 years$1,737$1,199$808$535$348$239
34 years$1,668$1,136$755$492$315$214
35 years$1,602$1,078$706$453$285$191
36 years$1,541$1,023$661$417$259$171
37 years$1,482$972$618$384$234$152
38 years$1,427$923$579$354$212$136
39 years$1,375$878$542$326$193$122
40 years$1,326$835$508$301$175$109
41 years$1,279$795$477$278$159$97
42 years$1,235$757$447$256$144$87
43 years$1,193$722$420$237$131$78
44 years$1,152$688$394$219$119$70
45 years$1,114$656$370$202$108$62
46 years$1,078$626$347$186$98$56
47 years$1,043$597$326$172$89$50
48 years$1,009$570$307$159$81$45
49 years$978$544$288$147$73$40
50 years$947$520$271$136$66$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $970,000, adding $5,295 every year, while hoping to spend $52,400 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: 76/15/9 Blend
65$970,000$970,000$970,000$970,000
66$1,074,402$1,022,992$1,007,957$1,154,076
67$1,128,238$1,017,365$985,970$1,201,614
68$1,185,808$1,009,707$961,491$1,246,503
69$1,247,440$999,861$934,380$1,294,209
70$1,313,489$987,665$904,492$1,344,991
71$1,384,348$972,943$871,675$1,399,138
72$1,460,446$955,512$835,771$1,456,964
73$1,542,256$935,177$796,613$1,518,819
74$1,630,294$911,729$754,029$1,585,089
75$1,725,131$884,950$707,835$1,656,197
76$1,827,390$854,608$657,843$1,732,615
77$1,937,758$820,458$603,855$1,814,859
78$2,056,988$782,240$545,663$1,903,501
79$2,185,910$739,678$483,052$1,999,172
80$2,325,434$692,483$415,795$2,102,568
81$2,476,560$640,348$343,657$2,214,457
82$2,640,391$582,946$266,391$2,335,687
83$2,818,136$519,935$183,740$2,467,195
84$3,011,126$450,952$95,435$2,610,014
85$3,220,825$375,614$1,197$2,765,283
86$3,448,845$293,515$0$2,934,261
87$3,696,957$204,226$0$3,127,879
88$3,967,111$107,298$0$3,338,869
89$4,261,452$2,251$0$3,568,839
90$4,582,341$0$0$3,819,687
91$4,932,377$0$0$4,111,895
92$5,314,419$0$0$4,431,262
93$5,731,616$0$0$4,780,054
94$6,187,434$0$0$5,161,171
95$6,685,688$0$0$5,577,810
96$7,230,579$0$0$6,033,487
97$7,826,732$0$0$6,532,075
98$8,479,239$0$0$7,077,839
99$9,193,708$0$0$7,675,475
100$9,976,315$0$0$8,330,155