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%13.3%
1 years$80,432$79,716$79,017$78,334$77,668$76,602
2 years$39,818$39,076$38,358$37,661$36,985$35,913
3 years$26,282$25,537$24,820$24,130$23,465$22,420
4 years$19,515$18,772$18,063$17,384$16,735$15,726
5 years$15,456$14,718$14,017$13,353$12,722$11,751
6 years$12,751$12,018$11,328$10,678$10,066$9,135
7 years$10,819$10,093$9,414$8,779$8,187$7,295
8 years$9,371$8,651$7,984$7,365$6,792$5,939
9 years$8,246$7,533$6,876$6,273$5,720$4,906
10 years$7,346$6,640$5,995$5,407$4,873$4,099
11 years$6,610$5,911$5,278$4,706$4,191$3,454
12 years$5,997$5,305$4,684$4,128$3,632$2,932
13 years$5,479$4,794$4,185$3,644$3,167$2,503
14 years$5,035$4,358$3,760$3,235$2,776$2,148
15 years$4,651$3,981$3,395$2,885$2,445$1,850
16 years$4,315$3,653$3,078$2,583$2,160$1,598
17 years$4,019$3,364$2,801$2,321$1,916$1,385
18 years$3,756$3,108$2,557$2,092$1,703$1,204
19 years$3,521$2,881$2,341$1,890$1,518$1,048
20 years$3,310$2,677$2,148$1,712$1,356$914
21 years$3,120$2,494$1,976$1,554$1,214$798
22 years$2,946$2,328$1,821$1,413$1,088$698
23 years$2,788$2,177$1,681$1,286$976$611
24 years$2,644$2,040$1,555$1,173$878$536
25 years$2,511$1,914$1,440$1,072$790$470
26 years$2,389$1,799$1,336$980$711$412
27 years$2,276$1,693$1,240$897$641$362
28 years$2,171$1,595$1,153$822$579$318
29 years$2,073$1,505$1,073$753$523$280
30 years$1,983$1,421$999$691$472$246
31 years$1,898$1,344$932$635$427$217
32 years$1,819$1,271$869$584$386$191
33 years$1,744$1,204$812$537$349$168
34 years$1,674$1,141$758$494$316$148
35 years$1,609$1,082$709$455$287$130
36 years$1,547$1,027$663$419$260$115
37 years$1,489$976$621$386$235$101
38 years$1,433$927$581$356$213$89
39 years$1,381$882$545$328$193$79
40 years$1,332$839$511$302$175$69
41 years$1,285$799$479$279$159$61
42 years$1,240$761$449$257$144$54
43 years$1,198$725$421$238$131$48
44 years$1,157$691$396$219$119$42
45 years$1,119$659$371$203$108$37
46 years$1,082$628$349$187$98$33
47 years$1,047$600$328$173$89$29
48 years$1,014$572$308$160$81$25
49 years$982$547$289$148$73$22
50 years$951$522$272$137$67$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $974,000, adding $5,336 every year, while hoping to spend $45,032 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: 78/8/14 Blend
65$974,000$974,000$974,000$974,000
66$1,078,852$1,027,230$1,012,133$1,159,503
67$1,140,981$1,029,651$998,126$1,215,794
68$1,207,938$1,030,681$982,140$1,271,254
69$1,280,168$1,030,204$964,062$1,330,821
70$1,358,160$1,028,098$943,772$1,394,889
71$1,442,450$1,024,233$921,147$1,463,889
72$1,533,629$1,018,470$896,054$1,538,300
73$1,632,346$1,010,662$868,359$1,618,646
74$1,739,314$1,000,653$837,918$1,705,507
75$1,855,318$988,279$804,582$1,799,523
76$1,981,220$973,363$768,194$1,901,397
77$2,117,968$955,722$728,593$2,011,906
78$2,266,607$935,159$685,607$2,131,906
79$2,428,284$911,465$639,058$2,262,340
80$2,604,262$884,420$588,760$2,404,250
81$2,795,931$853,791$534,518$2,558,782
82$3,004,821$819,331$476,129$2,727,200
83$3,232,614$780,780$413,380$2,910,900
84$3,481,163$737,860$346,051$3,111,417
85$3,752,507$690,281$273,909$3,330,448
86$4,048,890$637,732$196,712$3,569,860
87$4,372,784$579,888$114,209$3,831,715
88$4,726,908$516,403$26,135$4,118,282
89$5,114,259$446,912$0$4,432,067
90$5,538,133$371,030$0$4,785,968
91$6,002,162$288,350$0$5,177,716
92$6,510,344$198,442$0$5,606,805
93$7,067,085$100,850$0$6,076,981
94$7,677,232$0$0$6,592,374
95$8,346,128$0$0$7,157,962
96$9,079,654$0$0$7,787,966
97$9,884,289$0$0$8,479,078
98$10,767,171$0$0$9,237,430
99$11,736,159$0$0$10,069,779
100$12,799,913$0$0$10,983,567