Can I retire at age 66 with 973,000?

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 $973,000?

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$80,349$79,634$78,935$78,254$77,588$75,559
2 years$39,777$39,036$38,318$37,622$36,947$34,917
3 years$26,255$25,511$24,794$24,105$23,441$21,472
4 years$19,495$18,753$18,044$17,366$16,718$14,827
5 years$15,440$14,703$14,003$13,339$12,709$10,901
6 years$12,737$12,006$11,316$10,667$10,056$8,332
7 years$10,808$10,082$9,404$8,770$8,178$6,539
8 years$9,361$8,642$7,975$7,357$6,785$5,229
9 years$8,237$7,525$6,869$6,267$5,714$4,240
10 years$7,338$6,633$5,989$5,402$4,868$3,475
11 years$6,603$5,905$5,272$4,701$4,187$2,872
12 years$5,991$5,300$4,679$4,124$3,628$2,389
13 years$5,473$4,789$4,180$3,641$3,164$1,998
14 years$5,030$4,353$3,756$3,232$2,773$1,679
15 years$4,646$3,977$3,391$2,882$2,442$1,415
16 years$4,311$3,649$3,075$2,581$2,158$1,197
17 years$4,015$3,360$2,798$2,319$1,914$1,014
18 years$3,752$3,105$2,554$2,090$1,702$861
19 years$3,518$2,878$2,338$1,888$1,517$733
20 years$3,307$2,674$2,146$1,710$1,355$624
21 years$3,116$2,491$1,974$1,552$1,212$533
22 years$2,943$2,325$1,819$1,411$1,087$455
23 years$2,786$2,175$1,680$1,285$975$389
24 years$2,641$2,038$1,553$1,172$877$332
25 years$2,509$1,912$1,439$1,070$789$285
26 years$2,386$1,797$1,334$979$711$244
27 years$2,273$1,691$1,239$896$641$209
28 years$2,169$1,594$1,152$821$578$179
29 years$2,071$1,503$1,072$753$522$153
30 years$1,981$1,420$998$691$472$132
31 years$1,896$1,342$931$634$426$113
32 years$1,817$1,270$868$583$386$97
33 years$1,743$1,203$811$536$349$83
34 years$1,673$1,140$758$493$316$71
35 years$1,607$1,081$708$454$286$61
36 years$1,545$1,026$663$418$259$53
37 years$1,487$975$620$385$235$45
38 years$1,432$926$581$355$213$39
39 years$1,380$881$544$328$193$33
40 years$1,330$838$510$302$175$29
41 years$1,283$798$478$279$159$25
42 years$1,239$760$449$257$144$21
43 years$1,196$724$421$237$131$18
44 years$1,156$690$395$219$119$16
45 years$1,118$658$371$202$108$13
46 years$1,081$628$348$187$98$11
47 years$1,046$599$327$173$89$10
48 years$1,013$572$308$160$81$8
49 years$981$546$289$148$73$7
50 years$950$522$272$136$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $973,000, adding $3,234 every year, while hoping to spend $40,335 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: 41/49/10 Blend
65$973,000$973,000$973,000$973,000
66$1,075,582$1,024,013$1,008,931$1,116,365
67$1,142,375$1,031,273$999,814$1,152,533
68$1,214,629$1,037,538$989,040$1,187,378
69$1,292,859$1,042,715$976,511$1,224,187
70$1,377,630$1,046,707$962,123$1,263,152
71$1,469,564$1,049,411$945,770$1,304,492
72$1,569,344$1,050,717$927,338$1,348,448
73$1,677,724$1,050,509$906,710$1,395,286
74$1,795,530$1,048,662$883,763$1,445,305
75$1,923,673$1,045,045$858,368$1,498,835
76$2,063,153$1,039,518$830,389$1,556,242
77$2,215,074$1,031,934$799,686$1,617,935
78$2,380,647$1,022,134$766,111$1,684,364
79$2,561,207$1,009,952$729,510$1,756,032
80$2,758,222$995,212$689,721$1,833,495
81$2,973,310$977,727$646,576$1,917,369
82$3,208,250$957,298$599,899$2,008,340
83$3,465,002$933,716$549,505$2,107,164
84$3,745,721$906,757$495,203$2,214,684
85$4,052,784$876,188$436,791$2,331,829
86$4,388,805$841,757$374,060$2,459,632
87$4,756,662$803,203$306,791$2,599,237
88$5,159,528$760,246$234,754$2,751,908
89$5,600,892$712,591$157,712$2,919,047
90$6,084,602$659,926$75,413$3,102,206
91$6,614,891$601,922$0$3,303,102
92$7,196,424$538,230$0$3,524,960
93$7,834,337$468,482$0$3,777,230
94$8,534,290$392,288$0$4,054,215
95$9,302,515$309,238$0$4,358,519
96$10,145,878$218,896$0$4,693,021
97$11,071,940$120,805$0$5,060,901
98$12,089,033$14,480$0$5,465,674
99$13,206,334$0$0$5,911,224
100$14,433,952$0$0$6,456,080