Can I retire at age 66 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$80,184$79,470$78,773$78,093$77,429$75,404
2 years$39,695$38,956$38,239$37,545$36,871$34,845
3 years$26,201$25,458$24,743$24,055$23,392$21,428
4 years$19,455$18,714$18,007$17,330$16,684$14,797
5 years$15,408$14,672$13,974$13,311$12,683$10,878
6 years$12,711$11,981$11,293$10,645$10,035$8,315
7 years$10,786$10,062$9,385$8,752$8,161$6,525
8 years$9,342$8,625$7,959$7,342$6,771$5,218
9 years$8,220$7,509$6,855$6,254$5,702$4,231
10 years$7,323$6,619$5,976$5,391$4,858$3,468
11 years$6,589$5,893$5,261$4,692$4,178$2,866
12 years$5,979$5,289$4,669$4,115$3,621$2,384
13 years$5,462$4,780$4,172$3,633$3,157$1,994
14 years$5,020$4,345$3,748$3,225$2,768$1,675
15 years$4,637$3,969$3,384$2,876$2,437$1,412
16 years$4,302$3,641$3,068$2,575$2,154$1,194
17 years$4,007$3,354$2,792$2,314$1,910$1,012
18 years$3,745$3,099$2,549$2,085$1,698$860
19 years$3,511$2,872$2,333$1,884$1,513$731
20 years$3,300$2,669$2,141$1,707$1,352$623
21 years$3,110$2,486$1,970$1,549$1,210$531
22 years$2,937$2,320$1,815$1,408$1,084$454
23 years$2,780$2,170$1,676$1,282$973$388
24 years$2,636$2,033$1,550$1,170$875$332
25 years$2,503$1,908$1,436$1,068$787$284
26 years$2,381$1,793$1,332$977$709$243
27 years$2,269$1,688$1,237$894$639$208
28 years$2,164$1,590$1,150$819$577$179
29 years$2,067$1,500$1,070$751$521$153
30 years$1,977$1,417$996$689$471$131
31 years$1,892$1,339$929$633$426$113
32 years$1,813$1,267$867$582$385$97
33 years$1,739$1,200$809$535$348$83
34 years$1,669$1,138$756$492$315$71
35 years$1,604$1,079$707$453$286$61
36 years$1,542$1,024$661$417$259$52
37 years$1,484$973$619$385$235$45
38 years$1,429$924$580$354$213$39
39 years$1,377$879$543$327$193$33
40 years$1,328$836$509$301$175$29
41 years$1,281$796$477$278$159$24
42 years$1,236$758$448$257$144$21
43 years$1,194$722$420$237$131$18
44 years$1,154$689$394$219$119$16
45 years$1,115$657$370$202$108$13
46 years$1,079$626$348$187$98$11
47 years$1,044$598$327$172$89$10
48 years$1,010$571$307$159$81$8
49 years$979$545$289$147$73$7
50 years$948$521$271$136$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $971,000, adding $2,371 every year, while hoping to spend $25,266 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: 80/5/15 Blend
65$971,000$971,000$971,000$971,000
66$1,072,488$1,021,025$1,005,974$1,154,791
67$1,154,999$1,044,172$1,012,791$1,232,416
68$1,245,079$1,067,607$1,018,990$1,314,096
69$1,343,474$1,091,316$1,024,523$1,403,021
70$1,451,004$1,115,287$1,029,341$1,499,904
71$1,568,573$1,139,502$1,033,390$1,605,533
72$1,697,175$1,163,946$1,036,617$1,720,776
73$1,837,906$1,188,598$1,038,962$1,846,589
74$1,991,971$1,213,439$1,040,367$1,984,025
75$2,160,699$1,238,444$1,040,766$2,134,243
76$2,345,552$1,263,589$1,040,093$2,298,520
77$2,548,141$1,288,847$1,038,278$2,478,265
78$2,770,238$1,314,188$1,035,248$2,675,029
79$3,013,799$1,339,580$1,030,925$2,890,520
80$3,280,974$1,364,987$1,025,229$3,126,620
81$3,574,134$1,390,371$1,018,074$3,385,405
82$3,895,889$1,415,693$1,009,373$3,669,160
83$4,249,114$1,440,906$999,032$3,980,403
84$4,636,978$1,465,965$986,953$4,321,909
85$5,062,969$1,490,816$973,035$4,696,736
86$5,530,931$1,515,405$957,171$5,108,253
87$6,045,098$1,539,673$939,249$5,560,174
88$6,610,136$1,563,555$919,152$6,056,589
89$7,231,184$1,586,983$896,757$6,602,006
90$7,913,903$1,609,884$871,937$7,201,394
91$8,664,532$1,632,179$844,557$7,860,227
92$9,489,942$1,653,783$814,478$8,584,538
93$10,397,705$1,674,608$781,552$9,380,974
94$11,396,164$1,694,556$745,627$10,256,860
95$12,494,508$1,713,525$706,541$11,220,271
96$13,702,866$1,731,406$664,128$12,280,102
97$15,032,395$1,748,081$618,213$13,446,157
98$16,495,389$1,763,427$568,613$14,729,239
99$18,105,393$1,777,309$515,136$16,141,254
100$19,877,333$1,789,587$457,583$17,695,321