Can I retire at age 66 with 972,000?

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 $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%17.1%
1 years$80,267$79,552$78,854$78,173$77,509$75,269
2 years$39,736$38,996$38,279$37,583$36,909$34,670
3 years$26,228$25,484$24,769$24,080$23,417$21,249
4 years$19,475$18,734$18,025$17,348$16,701$14,621
5 years$15,424$14,687$13,988$13,325$12,696$10,709
6 years$12,724$11,993$11,305$10,656$10,046$8,155
7 years$10,797$10,072$9,394$8,761$8,170$6,374
8 years$9,352$8,634$7,967$7,349$6,778$5,076
9 years$8,229$7,517$6,862$6,260$5,708$4,099
10 years$7,330$6,626$5,983$5,396$4,863$3,345
11 years$6,596$5,899$5,267$4,696$4,183$2,752
12 years$5,985$5,294$4,674$4,119$3,625$2,279
13 years$5,468$4,785$4,176$3,637$3,161$1,897
14 years$5,025$4,349$3,752$3,228$2,771$1,586
15 years$4,641$3,973$3,388$2,879$2,439$1,330
16 years$4,306$3,645$3,072$2,578$2,156$1,119
17 years$4,011$3,357$2,795$2,316$1,912$944
18 years$3,749$3,102$2,551$2,087$1,700$797
19 years$3,514$2,875$2,336$1,886$1,515$675
20 years$3,304$2,671$2,144$1,708$1,353$572
21 years$3,113$2,488$1,972$1,550$1,211$485
22 years$2,940$2,323$1,817$1,410$1,086$412
23 years$2,783$2,172$1,678$1,284$974$350
24 years$2,638$2,035$1,552$1,171$876$298
25 years$2,506$1,910$1,437$1,069$788$254
26 years$2,384$1,795$1,333$978$710$216
27 years$2,271$1,690$1,238$895$640$184
28 years$2,166$1,592$1,151$820$578$157
29 years$2,069$1,502$1,071$752$521$134
30 years$1,979$1,418$997$690$471$114
31 years$1,894$1,341$930$634$426$97
32 years$1,815$1,269$868$582$385$83
33 years$1,741$1,202$810$536$349$71
34 years$1,671$1,139$757$493$316$60
35 years$1,606$1,080$708$454$286$52
36 years$1,544$1,025$662$418$259$44
37 years$1,485$974$620$385$235$38
38 years$1,430$925$580$355$213$32
39 years$1,378$880$544$327$193$27
40 years$1,329$837$510$302$175$23
41 years$1,282$797$478$278$159$20
42 years$1,237$759$448$257$144$17
43 years$1,195$723$421$237$131$15
44 years$1,155$689$395$219$119$12
45 years$1,116$657$371$202$108$11
46 years$1,080$627$348$187$98$9
47 years$1,045$598$327$173$89$8
48 years$1,012$571$307$159$81$7
49 years$980$545$289$147$73$6
50 years$949$521$272$136$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $972,000, adding $5,373 every year, while hoping to spend $20,345 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: 67/11/22 Blend
65$972,000$972,000$972,000$972,000
66$1,076,686$1,025,170$1,010,104$1,142,473
67$1,164,861$1,053,757$1,022,296$1,215,852
68$1,261,348$1,083,062$1,034,214$1,293,239
69$1,366,974$1,113,100$1,045,828$1,377,390
70$1,482,647$1,143,884$1,057,106$1,468,971
71$1,609,371$1,175,428$1,068,013$1,568,717
72$1,748,249$1,207,746$1,078,513$1,677,436
73$1,900,497$1,240,852$1,088,569$1,796,017
74$2,067,452$1,274,758$1,098,140$1,925,442
75$2,250,589$1,309,478$1,107,185$2,066,791
76$2,451,532$1,345,026$1,115,659$2,221,255
77$2,672,070$1,381,414$1,123,516$2,390,146
78$2,914,174$1,418,655$1,130,706$2,574,908
79$3,180,012$1,456,763$1,137,177$2,777,133
80$3,471,977$1,495,748$1,142,876$2,998,577
81$3,792,702$1,535,622$1,147,746$3,241,172
82$4,145,088$1,576,398$1,151,726$3,507,048
83$4,532,332$1,618,087$1,154,753$3,798,553
84$4,957,955$1,660,698$1,156,762$4,118,272
85$5,425,835$1,704,241$1,157,683$4,469,054
86$5,940,248$1,748,727$1,157,444$4,854,041
87$6,505,902$1,794,163$1,155,967$5,276,693
88$7,127,985$1,840,558$1,153,172$5,740,823
89$7,812,213$1,887,918$1,148,976$6,250,632
90$8,564,882$1,936,250$1,143,291$6,810,752
91$9,392,932$1,985,558$1,136,023$7,426,284
92$10,304,008$2,035,847$1,127,077$8,102,853
93$11,306,533$2,087,120$1,116,350$8,846,655
94$12,409,789$2,139,378$1,103,737$9,664,519
95$13,624,001$2,192,621$1,089,126$10,563,969
96$14,960,437$2,246,848$1,072,400$11,553,300
97$16,431,515$2,302,057$1,053,438$12,641,650
98$18,050,913$2,358,241$1,032,112$13,839,091
99$19,833,706$2,415,395$1,008,288$15,156,722
100$21,796,505$2,473,510$981,826$16,606,773