Can I retire at age 66 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$80,267$79,552$78,854$78,173$77,509$76,225
2 years$39,736$38,996$38,279$37,583$36,909$35,619
3 years$26,228$25,484$24,769$24,080$23,417$22,161
4 years$19,475$18,734$18,025$17,348$16,701$15,489
5 years$15,424$14,687$13,988$13,325$12,696$11,532
6 years$12,724$11,993$11,305$10,656$10,046$8,930
7 years$10,797$10,072$9,394$8,761$8,170$7,104
8 years$9,352$8,634$7,967$7,349$6,778$5,760
9 years$8,229$7,517$6,862$6,260$5,708$4,739
10 years$7,330$6,626$5,983$5,396$4,863$3,942
11 years$6,596$5,899$5,267$4,696$4,183$3,308
12 years$5,985$5,294$4,674$4,119$3,625$2,795
13 years$5,468$4,785$4,176$3,637$3,161$2,375
14 years$5,025$4,349$3,752$3,228$2,771$2,028
15 years$4,641$3,973$3,388$2,879$2,439$1,739
16 years$4,306$3,645$3,072$2,578$2,156$1,495
17 years$4,011$3,357$2,795$2,316$1,912$1,289
18 years$3,749$3,102$2,551$2,087$1,700$1,114
19 years$3,514$2,875$2,336$1,886$1,515$965
20 years$3,304$2,671$2,144$1,708$1,353$837
21 years$3,113$2,488$1,972$1,550$1,211$728
22 years$2,940$2,323$1,817$1,410$1,086$633
23 years$2,783$2,172$1,678$1,284$974$551
24 years$2,638$2,035$1,552$1,171$876$480
25 years$2,506$1,910$1,437$1,069$788$419
26 years$2,384$1,795$1,333$978$710$366
27 years$2,271$1,690$1,238$895$640$320
28 years$2,166$1,592$1,151$820$578$279
29 years$2,069$1,502$1,071$752$521$244
30 years$1,979$1,418$997$690$471$214
31 years$1,894$1,341$930$634$426$187
32 years$1,815$1,269$868$582$385$164
33 years$1,741$1,202$810$536$349$143
34 years$1,671$1,139$757$493$316$125
35 years$1,606$1,080$708$454$286$110
36 years$1,544$1,025$662$418$259$96
37 years$1,485$974$620$385$235$84
38 years$1,430$925$580$355$213$74
39 years$1,378$880$544$327$193$65
40 years$1,329$837$510$302$175$57
41 years$1,282$797$478$278$159$50
42 years$1,237$759$448$257$144$44
43 years$1,195$723$421$237$131$38
44 years$1,155$689$395$219$119$34
45 years$1,116$657$371$202$108$29
46 years$1,080$627$348$187$98$26
47 years$1,045$598$327$173$89$23
48 years$1,012$571$307$159$81$20
49 years$980$545$289$147$73$17
50 years$949$521$272$136$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $972,000, adding $3,587 every year, while hoping to spend $47,834 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: 55/33/12 Blend
65$972,000$972,000$972,000$972,000
66$1,074,844$1,023,328$1,008,262$1,130,471
67$1,133,583$1,022,576$991,144$1,167,854
68$1,196,710$1,020,184$971,849$1,203,017
69$1,264,623$1,016,021$950,254$1,240,186
70$1,337,757$1,009,949$926,230$1,279,561
71$1,416,591$1,001,819$899,641$1,321,364
72$1,501,651$991,476$870,347$1,365,844
73$1,593,515$978,754$838,199$1,413,275
74$1,692,818$963,478$803,044$1,463,962
75$1,800,258$945,461$764,719$1,518,243
76$1,916,603$924,506$723,055$1,576,496
77$2,042,695$900,406$677,876$1,639,136
78$2,179,463$872,938$628,997$1,706,627
79$2,327,925$841,870$576,226$1,779,483
80$2,489,205$806,953$519,361$1,858,272
81$2,664,536$767,926$458,192$1,943,627
82$2,855,277$724,512$392,499$2,036,248
83$3,062,919$676,417$322,052$2,136,909
84$3,289,108$623,333$246,612$2,246,471
85$3,535,652$564,931$165,929$2,365,885
86$3,804,542$500,866$79,741$2,496,207
87$4,097,969$430,772$0$2,638,603
88$4,418,344$354,262$0$2,795,934
89$4,768,322$270,928$0$2,979,061
90$5,150,826$180,339$0$3,179,386
91$5,569,074$82,039$0$3,398,702
92$6,026,609$0$0$3,638,988
93$6,527,331$0$0$3,911,314
94$7,075,535$0$0$4,242,166
95$7,675,953$0$0$4,604,620
96$8,333,793$0$0$5,001,832
97$9,054,792$0$0$5,437,277
98$9,845,267$0$0$5,914,783
99$10,712,178$0$0$6,438,566
100$11,663,189$0$0$7,013,270