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%15.8%
1 years$80,102$79,388$78,692$78,013$77,349$75,510
2 years$39,654$38,916$38,200$37,506$36,833$34,991
3 years$26,174$25,432$24,718$24,030$23,368$21,581
4 years$19,435$18,695$17,988$17,313$16,666$14,947
5 years$15,392$14,657$13,960$13,298$12,670$11,023
6 years$12,698$11,969$11,282$10,634$10,025$8,454
7 years$10,775$10,051$9,375$8,743$8,153$6,657
8 years$9,333$8,616$7,951$7,334$6,764$5,342
9 years$8,212$7,502$6,848$6,247$5,696$4,347
10 years$7,315$6,612$5,970$5,385$4,853$3,576
11 years$6,583$5,887$5,256$4,687$4,174$2,967
12 years$5,972$5,283$4,665$4,111$3,617$2,478
13 years$5,456$4,775$4,168$3,629$3,154$2,081
14 years$5,015$4,340$3,745$3,222$2,765$1,755
15 years$4,632$3,965$3,381$2,873$2,434$1,486
16 years$4,297$3,638$3,065$2,573$2,152$1,262
17 years$4,003$3,350$2,789$2,311$1,908$1,074
18 years$3,741$3,096$2,546$2,083$1,696$916
19 years$3,507$2,869$2,331$1,882$1,512$783
20 years$3,297$2,666$2,139$1,705$1,350$670
21 years$3,107$2,483$1,968$1,547$1,209$574
22 years$2,934$2,318$1,814$1,407$1,083$493
23 years$2,777$2,168$1,674$1,281$972$423
24 years$2,633$2,031$1,549$1,168$874$364
25 years$2,501$1,906$1,434$1,067$786$313
26 years$2,379$1,792$1,330$976$708$269
27 years$2,266$1,686$1,235$893$639$232
28 years$2,162$1,589$1,148$818$576$200
29 years$2,065$1,499$1,069$750$520$172
30 years$1,975$1,415$995$689$470$148
31 years$1,890$1,338$928$632$425$128
32 years$1,811$1,266$866$581$385$110
33 years$1,737$1,199$808$535$348$95
34 years$1,668$1,136$755$492$315$82
35 years$1,602$1,078$706$453$285$71
36 years$1,541$1,023$661$417$259$61
37 years$1,482$972$618$384$234$53
38 years$1,427$923$579$354$212$45
39 years$1,375$878$542$326$193$39
40 years$1,326$835$508$301$175$34
41 years$1,279$795$477$278$159$29
42 years$1,235$757$447$256$144$25
43 years$1,193$722$420$237$131$22
44 years$1,152$688$394$219$119$19
45 years$1,114$656$370$202$108$16
46 years$1,078$626$347$186$98$14
47 years$1,043$597$326$172$89$12
48 years$1,009$570$307$159$81$10
49 years$978$544$288$147$73$9
50 years$947$520$271$136$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $970,000, adding $6,414 every year, while hoping to spend $22,004 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: 77/15/8 Blend
65$970,000$970,000$970,000$970,000
66$1,075,556$1,024,146$1,009,111$1,156,649
67$1,161,851$1,050,917$1,019,504$1,237,605
68$1,256,210$1,078,262$1,029,508$1,322,868
69$1,359,433$1,106,187$1,039,086$1,415,710
70$1,472,400$1,134,695$1,048,201$1,516,876
71$1,596,081$1,163,791$1,056,811$1,627,185
72$1,731,542$1,193,478$1,064,875$1,747,541
73$1,879,959$1,223,758$1,072,348$1,878,938
74$2,042,626$1,254,633$1,079,183$2,022,469
75$2,220,968$1,286,105$1,085,330$2,179,342
76$2,416,557$1,318,174$1,090,739$2,350,883
77$2,631,121$1,350,839$1,095,353$2,538,557
78$2,866,564$1,384,100$1,099,117$2,743,974
79$3,124,986$1,417,952$1,101,969$2,968,910
80$3,408,696$1,452,394$1,103,847$3,215,319
81$3,720,241$1,487,420$1,104,684$3,485,356
82$4,062,426$1,523,023$1,104,411$3,781,393
83$4,438,339$1,559,197$1,102,954$4,106,046
84$4,851,383$1,595,931$1,100,237$4,462,193
85$5,305,309$1,633,217$1,096,180$4,853,010
86$5,804,246$1,671,040$1,090,698$5,281,990
87$6,352,746$1,709,387$1,083,703$5,752,987
88$6,955,821$1,748,242$1,075,102$6,270,245
89$7,618,995$1,787,587$1,064,798$6,838,439
90$8,348,355$1,827,400$1,052,690$7,462,722
91$9,150,603$1,867,659$1,038,672$8,148,771
92$10,033,129$1,908,339$1,022,632$8,902,842
93$11,004,071$1,949,410$1,004,453$9,731,826
94$12,072,397$1,990,842$984,013$10,643,319
95$13,247,988$2,032,600$961,184$11,645,690
96$14,541,733$2,074,647$935,834$12,748,160
97$15,965,626$2,116,942$907,821$13,960,890
98$17,532,887$2,159,439$877,000$15,295,078
99$19,258,080$2,202,089$843,217$16,763,061
100$21,157,252$2,244,840$806,313$18,378,437