Can I retire at age 66 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$80,432$79,716$79,017$78,334$77,668$77,082
2 years$39,818$39,076$38,358$37,661$36,985$36,394
3 years$26,282$25,537$24,820$24,130$23,465$22,887
4 years$19,515$18,772$18,063$17,384$16,735$16,176
5 years$15,456$14,718$14,017$13,353$12,722$12,182
6 years$12,751$12,018$11,328$10,678$10,066$9,547
7 years$10,819$10,093$9,414$8,779$8,187$7,687
8 years$9,371$8,651$7,984$7,365$6,792$6,313
9 years$8,246$7,533$6,876$6,273$5,720$5,261
10 years$7,346$6,640$5,995$5,407$4,873$4,435
11 years$6,610$5,911$5,278$4,706$4,191$3,773
12 years$5,997$5,305$4,684$4,128$3,632$3,233
13 years$5,479$4,794$4,185$3,644$3,167$2,787
14 years$5,035$4,358$3,760$3,235$2,776$2,415
15 years$4,651$3,981$3,395$2,885$2,445$2,101
16 years$4,315$3,653$3,078$2,583$2,160$1,835
17 years$4,019$3,364$2,801$2,321$1,916$1,607
18 years$3,756$3,108$2,557$2,092$1,703$1,411
19 years$3,521$2,881$2,341$1,890$1,518$1,242
20 years$3,310$2,677$2,148$1,712$1,356$1,095
21 years$3,120$2,494$1,976$1,554$1,214$967
22 years$2,946$2,328$1,821$1,413$1,088$855
23 years$2,788$2,177$1,681$1,286$976$758
24 years$2,644$2,040$1,555$1,173$878$672
25 years$2,511$1,914$1,440$1,072$790$596
26 years$2,389$1,799$1,336$980$711$530
27 years$2,276$1,693$1,240$897$641$471
28 years$2,171$1,595$1,153$822$579$419
29 years$2,073$1,505$1,073$753$523$373
30 years$1,983$1,421$999$691$472$332
31 years$1,898$1,344$932$635$427$296
32 years$1,819$1,271$869$584$386$264
33 years$1,744$1,204$812$537$349$235
34 years$1,674$1,141$758$494$316$210
35 years$1,609$1,082$709$455$287$187
36 years$1,547$1,027$663$419$260$167
37 years$1,489$976$621$386$235$149
38 years$1,433$927$581$356$213$133
39 years$1,381$882$545$328$193$119
40 years$1,332$839$511$302$175$106
41 years$1,285$799$479$279$159$95
42 years$1,240$761$449$257$144$85
43 years$1,198$725$421$238$131$76
44 years$1,157$691$396$219$119$68
45 years$1,119$659$371$203$108$61
46 years$1,082$628$349$187$98$54
47 years$1,047$600$328$173$89$48
48 years$1,014$572$308$160$81$43
49 years$982$547$289$148$73$39
50 years$951$522$272$137$67$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $974,000, adding $4,458 every year, while hoping to spend $43,166 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: 54/28/18 Blend
65$974,000$974,000$974,000$974,000
66$1,077,946$1,026,324$1,011,227$1,130,691
67$1,141,969$1,030,686$999,175$1,171,609
68$1,211,074$1,033,815$985,273$1,211,174
69$1,285,737$1,035,604$969,412$1,253,290
70$1,366,475$1,035,942$951,481$1,298,215
71$1,453,861$1,034,709$931,361$1,346,230
72$1,548,523$1,031,777$908,929$1,397,650
73$1,651,150$1,027,013$884,056$1,452,821
74$1,762,503$1,020,272$856,608$1,512,130
75$1,883,417$1,011,403$826,442$1,576,001
76$2,014,809$1,000,246$793,412$1,644,907
77$2,157,691$986,630$757,363$1,719,370
78$2,313,174$970,373$718,133$1,799,970
79$2,482,482$951,285$675,554$1,887,346
80$2,666,959$929,163$629,450$1,982,208
81$2,868,089$903,791$579,636$2,085,339
82$3,087,500$874,943$525,920$2,197,607
83$3,326,987$842,377$468,101$2,319,972
84$3,588,526$805,840$405,968$2,453,497
85$3,874,291$765,061$339,303$2,599,353
86$4,186,675$719,756$267,876$2,758,842
87$4,528,315$669,622$191,449$2,933,397
88$4,902,111$614,342$109,771$3,124,605
89$5,311,260$553,579$22,582$3,334,222
90$5,759,280$486,975$0$3,564,186
91$6,250,045$414,156$0$3,830,172
92$6,787,823$334,723$0$4,126,523
93$7,377,313$248,256$0$4,451,570
94$8,023,691$154,313$0$4,808,263
95$8,732,656$52,423$0$5,199,856
96$9,510,489$0$0$5,629,939
97$10,364,104$0$0$6,120,316
98$11,301,120$0$0$6,676,430
99$12,329,927$0$0$7,287,120
100$13,459,769$0$0$7,957,887