Can I retire at age 66 with 971,000?

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 $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%15.6%
1 years$80,184$79,470$78,773$78,093$77,429$75,649
2 years$39,695$38,956$38,239$37,545$36,871$35,088
3 years$26,201$25,458$24,743$24,055$23,392$21,662
4 years$19,455$18,714$18,007$17,330$16,684$15,018
5 years$15,408$14,672$13,974$13,311$12,683$11,087
6 years$12,711$11,981$11,293$10,645$10,035$8,512
7 years$10,786$10,062$9,385$8,752$8,161$6,710
8 years$9,342$8,625$7,959$7,342$6,771$5,391
9 years$8,220$7,509$6,855$6,254$5,702$4,393
10 years$7,323$6,619$5,976$5,391$4,858$3,618
11 years$6,589$5,893$5,261$4,692$4,178$3,006
12 years$5,979$5,289$4,669$4,115$3,621$2,514
13 years$5,462$4,780$4,172$3,633$3,157$2,114
14 years$5,020$4,345$3,748$3,225$2,768$1,785
15 years$4,637$3,969$3,384$2,876$2,437$1,513
16 years$4,302$3,641$3,068$2,575$2,154$1,287
17 years$4,007$3,354$2,792$2,314$1,910$1,097
18 years$3,745$3,099$2,549$2,085$1,698$937
19 years$3,511$2,872$2,333$1,884$1,513$802
20 years$3,300$2,669$2,141$1,707$1,352$688
21 years$3,110$2,486$1,970$1,549$1,210$590
22 years$2,937$2,320$1,815$1,408$1,084$507
23 years$2,780$2,170$1,676$1,282$973$436
24 years$2,636$2,033$1,550$1,170$875$375
25 years$2,503$1,908$1,436$1,068$787$323
26 years$2,381$1,793$1,332$977$709$279
27 years$2,269$1,688$1,237$894$639$240
28 years$2,164$1,590$1,150$819$577$207
29 years$2,067$1,500$1,070$751$521$179
30 years$1,977$1,417$996$689$471$154
31 years$1,892$1,339$929$633$426$133
32 years$1,813$1,267$867$582$385$115
33 years$1,739$1,200$809$535$348$100
34 years$1,669$1,138$756$492$315$86
35 years$1,604$1,079$707$453$286$74
36 years$1,542$1,024$661$417$259$64
37 years$1,484$973$619$385$235$56
38 years$1,429$924$580$354$213$48
39 years$1,377$879$543$327$193$42
40 years$1,328$836$509$301$175$36
41 years$1,281$796$477$278$159$31
42 years$1,236$758$448$257$144$27
43 years$1,194$722$420$237$131$23
44 years$1,154$689$394$219$119$20
45 years$1,115$657$370$202$108$17
46 years$1,079$626$348$187$98$15
47 years$1,044$598$327$172$89$13
48 years$1,010$571$307$159$81$11
49 years$979$545$289$147$73$10
50 years$948$521$271$136$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $971,000, adding $3,583 every year, while hoping to spend $39,447 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: 58/29/13 Blend
65$971,000$971,000$971,000$971,000
66$1,073,738$1,022,275$1,007,224$1,132,315
67$1,141,288$1,030,395$998,995$1,180,404
68$1,214,406$1,037,591$989,168$1,228,110
69$1,293,618$1,043,776$977,648$1,279,179
70$1,379,503$1,048,857$964,335$1,333,940
71$1,472,698$1,052,736$949,126$1,392,755
72$1,573,901$1,055,309$931,910$1,456,026
73$1,683,884$1,056,463$912,573$1,524,196
74$1,803,492$1,056,082$890,997$1,597,754
75$1,933,658$1,054,040$867,055$1,677,240
76$2,075,406$1,050,202$840,616$1,763,252
77$2,229,864$1,044,430$811,544$1,856,449
78$2,398,275$1,036,571$779,695$1,957,561
79$2,582,004$1,026,468$744,919$2,067,392
80$2,782,555$1,013,951$707,061$2,186,831
81$3,001,583$998,843$665,955$2,316,860
82$3,240,912$980,953$621,432$2,458,564
83$3,502,546$960,082$573,311$2,613,139
84$3,788,696$936,016$521,408$2,781,909
85$4,101,794$908,531$465,525$2,966,333
86$4,444,516$877,389$405,460$3,168,024
87$4,819,813$842,337$340,999$3,388,760
88$5,230,932$803,110$271,921$3,630,508
89$5,681,450$759,424$197,992$3,895,435
90$6,175,304$710,983$118,972$4,185,937
91$6,716,834$657,469$34,606$4,504,657
92$7,310,816$598,551$0$4,854,511
93$7,962,514$533,874$0$5,246,407
94$8,677,724$463,068$0$5,681,833
95$9,462,831$385,737$0$6,159,944
96$10,324,868$301,467$0$6,685,109
97$11,271,583$209,817$0$7,262,147
98$12,311,511$110,324$0$7,896,371
99$13,454,053$2,498$0$8,593,641
100$14,709,568$0$0$9,360,419