Can I retire at age 66 with 970,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%
1 years$80,102$79,388$78,692$78,013$77,349$77,023
2 years$39,654$38,916$38,200$37,506$36,833$36,504
3 years$26,174$25,432$24,718$24,030$23,368$23,046
4 years$19,435$18,695$17,988$17,313$16,666$16,354
5 years$15,392$14,657$13,960$13,298$12,670$12,368
6 years$12,698$11,969$11,282$10,634$10,025$9,734
7 years$10,775$10,051$9,375$8,743$8,153$7,873
8 years$9,333$8,616$7,951$7,334$6,764$6,495
9 years$8,212$7,502$6,848$6,247$5,696$5,438
10 years$7,315$6,612$5,970$5,385$4,853$4,606
11 years$6,583$5,887$5,256$4,687$4,174$3,938
12 years$5,972$5,283$4,665$4,111$3,617$3,391
13 years$5,456$4,775$4,168$3,629$3,154$2,939
14 years$5,015$4,340$3,745$3,222$2,765$2,559
15 years$4,632$3,965$3,381$2,873$2,434$2,239
16 years$4,297$3,638$3,065$2,573$2,152$1,965
17 years$4,003$3,350$2,789$2,311$1,908$1,731
18 years$3,741$3,096$2,546$2,083$1,696$1,528
19 years$3,507$2,869$2,331$1,882$1,512$1,353
20 years$3,297$2,666$2,139$1,705$1,350$1,200
21 years$3,107$2,483$1,968$1,547$1,209$1,066
22 years$2,934$2,318$1,814$1,407$1,083$948
23 years$2,777$2,168$1,674$1,281$972$845
24 years$2,633$2,031$1,549$1,168$874$754
25 years$2,501$1,906$1,434$1,067$786$673
26 years$2,379$1,792$1,330$976$708$602
27 years$2,266$1,686$1,235$893$639$538
28 years$2,162$1,589$1,148$818$576$482
29 years$2,065$1,499$1,069$750$520$432
30 years$1,975$1,415$995$689$470$387
31 years$1,890$1,338$928$632$425$347
32 years$1,811$1,266$866$581$385$311
33 years$1,737$1,199$808$535$348$280
34 years$1,668$1,136$755$492$315$251
35 years$1,602$1,078$706$453$285$225
36 years$1,541$1,023$661$417$259$203
37 years$1,482$972$618$384$234$182
38 years$1,427$923$579$354$212$164
39 years$1,375$878$542$326$193$147
40 years$1,326$835$508$301$175$132
41 years$1,279$795$477$278$159$119
42 years$1,235$757$447$256$144$107
43 years$1,193$722$420$237$131$96
44 years$1,152$688$394$219$119$87
45 years$1,114$656$370$202$108$78
46 years$1,078$626$347$186$98$70
47 years$1,043$597$326$172$89$63
48 years$1,009$570$307$159$81$57
49 years$978$544$288$147$73$51
50 years$947$520$271$136$66$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $970,000, adding $2,506 every year, while hoping to spend $36,295 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: 33/43/24 Blend
65$970,000$970,000$970,000$970,000
66$1,071,525$1,020,115$1,005,080$1,098,952
67$1,142,203$1,031,483$1,000,133$1,131,141
68$1,218,874$1,042,192$993,803$1,162,360
69$1,302,110$1,052,170$986,006$1,195,276
70$1,392,542$1,061,343$976,655$1,230,062
71$1,490,863$1,069,631$965,654$1,266,911
72$1,597,836$1,076,948$952,908$1,306,038
73$1,714,299$1,083,202$938,315$1,347,681
74$1,841,177$1,088,298$921,768$1,392,108
75$1,979,484$1,092,132$903,154$1,439,612
76$2,130,340$1,094,595$882,358$1,490,523
77$2,294,975$1,095,571$859,258$1,545,205
78$2,474,744$1,094,935$833,725$1,604,065
79$2,671,139$1,092,558$805,625$1,667,550
80$2,885,800$1,088,299$774,819$1,736,163
81$3,120,537$1,082,011$741,161$1,810,457
82$3,377,339$1,073,536$704,497$1,891,046
83$3,658,398$1,062,710$664,668$1,978,615
84$3,966,127$1,049,355$621,506$2,073,920
85$4,303,183$1,033,284$574,838$2,177,798
86$4,672,493$1,014,301$524,480$2,291,181
87$5,077,280$992,194$470,243$2,415,099
88$5,521,093$966,742$411,927$2,550,693
89$6,007,842$937,710$349,324$2,699,226
90$6,541,832$904,848$282,217$2,862,100
91$7,127,807$867,894$210,379$3,040,864
92$7,770,991$826,568$133,574$3,237,234
93$8,477,138$780,576$51,555$3,453,108
94$9,252,588$729,606$0$3,690,586
95$10,104,323$673,328$0$3,961,206
96$11,040,037$611,393$0$4,273,014
97$12,068,202$543,434$0$4,615,708
98$13,198,157$469,059$0$4,992,508
99$14,440,185$387,859$0$5,406,967
100$15,805,618$299,399$0$5,863,011