Can I retire at age 66 with 976,000?

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 $976,000?

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%
1 years$80,597$79,879$79,179$78,495$77,828$76,507
2 years$39,900$39,156$38,436$37,738$37,061$35,734
3 years$26,336$25,589$24,871$24,179$23,513$22,222
4 years$19,555$18,811$18,100$17,420$16,770$15,524
5 years$15,487$14,748$14,046$13,380$12,748$11,551
6 years$12,777$12,043$11,351$10,700$10,087$8,941
7 years$10,841$10,113$9,433$8,797$8,203$7,108
8 years$9,390$8,669$8,000$7,380$6,806$5,760
9 years$8,262$7,548$6,890$6,286$5,731$4,736
10 years$7,361$6,653$6,007$5,418$4,883$3,937
11 years$6,623$5,923$5,289$4,716$4,200$3,302
12 years$6,009$5,316$4,693$4,136$3,639$2,788
13 years$5,490$4,804$4,193$3,652$3,174$2,368
14 years$5,046$4,367$3,768$3,242$2,782$2,021
15 years$4,661$3,989$3,402$2,891$2,450$1,731
16 years$4,324$3,660$3,084$2,589$2,165$1,487
17 years$4,027$3,371$2,806$2,326$1,920$1,282
18 years$3,764$3,115$2,562$2,096$1,707$1,107
19 years$3,529$2,887$2,345$1,894$1,521$958
20 years$3,317$2,682$2,152$1,715$1,359$831
21 years$3,126$2,499$1,980$1,557$1,216$721
22 years$2,952$2,332$1,825$1,415$1,090$627
23 years$2,794$2,181$1,685$1,289$978$545
24 years$2,649$2,044$1,558$1,176$879$475
25 years$2,516$1,918$1,443$1,074$791$414
26 years$2,394$1,803$1,338$982$713$361
27 years$2,280$1,697$1,243$899$643$315
28 years$2,175$1,599$1,155$823$580$275
29 years$2,078$1,508$1,075$755$524$241
30 years$1,987$1,424$1,002$693$473$210
31 years$1,902$1,346$934$636$428$184
32 years$1,822$1,274$871$585$387$161
33 years$1,748$1,206$813$538$350$141
34 years$1,678$1,143$760$495$317$123
35 years$1,612$1,085$711$456$287$108
36 years$1,550$1,029$665$420$260$94
37 years$1,492$978$622$387$236$83
38 years$1,436$929$583$356$214$72
39 years$1,384$884$546$329$194$63
40 years$1,334$841$512$303$176$55
41 years$1,287$800$480$280$160$49
42 years$1,243$762$450$258$145$43
43 years$1,200$726$422$238$131$37
44 years$1,160$692$396$220$119$33
45 years$1,121$660$372$203$108$29
46 years$1,084$630$350$188$98$25
47 years$1,049$601$328$173$89$22
48 years$1,016$574$309$160$81$19
49 years$984$548$290$148$74$17
50 years$953$523$273$137$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $976,000, adding $2,071 every year, while hoping to spend $22,915 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: 44/32/24 Blend
65$976,000$976,000$976,000$976,000
66$1,077,688$1,025,960$1,010,832$1,117,524
67$1,163,231$1,051,851$1,020,314$1,171,864
68$1,256,731$1,078,242$1,029,345$1,228,352
69$1,358,976$1,105,134$1,037,886$1,289,129
70$1,470,833$1,132,527$1,045,897$1,354,604
71$1,593,256$1,160,419$1,053,333$1,425,230
72$1,727,297$1,188,809$1,060,148$1,501,504
73$1,874,114$1,217,693$1,066,295$1,583,974
74$2,034,980$1,247,066$1,071,723$1,673,245
75$2,211,301$1,276,925$1,076,378$1,769,982
76$2,404,622$1,307,263$1,080,206$1,874,921
77$2,616,647$1,338,072$1,083,146$1,988,868
78$2,849,251$1,369,344$1,085,137$2,112,716
79$3,104,500$1,401,067$1,086,114$2,247,447
80$3,384,670$1,433,231$1,086,011$2,394,143
81$3,692,268$1,465,821$1,084,754$2,553,998
82$4,030,056$1,498,822$1,082,269$2,728,328
83$4,401,075$1,532,218$1,078,479$2,918,581
84$4,808,677$1,565,989$1,073,300$3,126,357
85$5,256,552$1,600,113$1,066,646$3,353,417
86$5,748,769$1,634,567$1,058,427$3,601,702
87$6,289,807$1,669,325$1,048,548$3,873,353
88$6,884,604$1,704,358$1,036,911$4,170,729
89$7,538,596$1,739,634$1,023,410$4,496,431
90$8,257,776$1,775,119$1,007,938$4,853,325
91$9,048,746$1,810,776$990,380$5,244,572
92$9,918,777$1,846,564$970,617$5,673,655
93$10,875,884$1,882,437$948,524$6,144,413
94$11,928,896$1,918,348$923,971$6,661,080
95$13,087,541$1,954,244$896,822$7,228,321
96$14,362,537$1,990,069$866,932$7,851,279
97$15,765,695$2,025,762$834,154$8,535,622
98$17,310,027$2,061,256$798,329$9,287,600
99$19,009,873$2,096,480$759,297$10,114,102
100$20,881,031$2,131,359$716,884$11,022,719