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%14.2%
1 years$80,184$79,470$78,773$78,093$77,429$76,084
2 years$39,695$38,956$38,239$37,545$36,871$35,520
3 years$26,201$25,458$24,743$24,055$23,392$22,078
4 years$19,455$18,714$18,007$17,330$16,684$15,416
5 years$15,408$14,672$13,974$13,311$12,683$11,465
6 years$12,711$11,981$11,293$10,645$10,035$8,869
7 years$10,786$10,062$9,385$8,752$8,161$7,047
8 years$9,342$8,625$7,959$7,342$6,771$5,708
9 years$8,220$7,509$6,855$6,254$5,702$4,690
10 years$7,323$6,619$5,976$5,391$4,858$3,896
11 years$6,589$5,893$5,261$4,692$4,178$3,265
12 years$5,979$5,289$4,669$4,115$3,621$2,756
13 years$5,462$4,780$4,172$3,633$3,157$2,339
14 years$5,020$4,345$3,748$3,225$2,768$1,994
15 years$4,637$3,969$3,384$2,876$2,437$1,707
16 years$4,302$3,641$3,068$2,575$2,154$1,466
17 years$4,007$3,354$2,792$2,314$1,910$1,263
18 years$3,745$3,099$2,549$2,085$1,698$1,090
19 years$3,511$2,872$2,333$1,884$1,513$942
20 years$3,300$2,669$2,141$1,707$1,352$816
21 years$3,110$2,486$1,970$1,549$1,210$708
22 years$2,937$2,320$1,815$1,408$1,084$615
23 years$2,780$2,170$1,676$1,282$973$535
24 years$2,636$2,033$1,550$1,170$875$465
25 years$2,503$1,908$1,436$1,068$787$405
26 years$2,381$1,793$1,332$977$709$353
27 years$2,269$1,688$1,237$894$639$308
28 years$2,164$1,590$1,150$819$577$269
29 years$2,067$1,500$1,070$751$521$235
30 years$1,977$1,417$996$689$471$205
31 years$1,892$1,339$929$633$426$179
32 years$1,813$1,267$867$582$385$156
33 years$1,739$1,200$809$535$348$137
34 years$1,669$1,138$756$492$315$120
35 years$1,604$1,079$707$453$286$105
36 years$1,542$1,024$661$417$259$91
37 years$1,484$973$619$385$235$80
38 years$1,429$924$580$354$213$70
39 years$1,377$879$543$327$193$61
40 years$1,328$836$509$301$175$54
41 years$1,281$796$477$278$159$47
42 years$1,236$758$448$257$144$41
43 years$1,194$722$420$237$131$36
44 years$1,154$689$394$219$119$31
45 years$1,115$657$370$202$108$28
46 years$1,079$626$348$187$98$24
47 years$1,044$598$327$172$89$21
48 years$1,010$571$307$159$81$18
49 years$979$545$289$147$73$16
50 years$948$521$271$136$67$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $971,000, adding $6,344 every year, while hoping to spend $45,047 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: 47/48/5 Blend
65$971,000$971,000$971,000$971,000
66$1,076,586$1,025,123$1,010,072$1,125,494
67$1,138,468$1,027,424$995,980$1,161,959
68$1,205,152$1,028,329$979,906$1,196,233
69$1,277,081$1,027,720$961,736$1,232,356
70$1,354,740$1,025,475$941,351$1,270,513
71$1,438,663$1,021,463$918,626$1,310,907
72$1,529,438$1,015,545$893,431$1,353,766
73$1,627,708$1,007,575$865,628$1,399,343
74$1,734,183$997,395$835,076$1,447,919
75$1,849,643$984,840$801,624$1,499,807
76$1,974,945$969,736$765,117$1,555,356
77$2,111,031$951,895$725,390$1,614,950
78$2,258,940$931,121$682,274$1,679,021
79$2,419,812$907,206$635,591$1,748,044
80$2,594,902$879,929$585,152$1,822,549
81$2,785,592$849,055$530,765$1,903,124
82$2,993,402$814,338$472,225$1,990,422
83$3,220,004$775,516$409,319$2,085,166
84$3,467,239$732,311$341,827$2,188,158
85$3,737,135$684,432$269,515$2,300,290
86$4,031,922$631,568$192,143$2,422,549
87$4,354,055$573,392$109,457$2,556,028
88$4,706,238$509,558$21,193$2,701,940
89$5,091,449$439,700$0$2,861,630
90$5,512,963$363,433$0$3,040,479
91$5,974,391$280,347$0$3,237,702
92$6,479,707$190,011$0$3,454,007
93$7,033,287$91,971$0$3,691,434
94$7,639,950$0$0$3,952,235
95$8,305,004$0$0$4,246,433
96$9,034,297$0$0$4,622,428
97$9,834,266$0$0$5,034,975
98$10,712,003$0$0$5,487,745
99$11,675,321$0$0$5,984,782
100$12,732,824$0$0$6,530,542