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%18.4%
1 years$80,597$79,879$79,179$78,495$77,828$75,186
2 years$39,900$39,156$38,436$37,738$37,061$34,426
3 years$26,336$25,589$24,871$24,179$23,513$20,967
4 years$19,555$18,811$18,100$17,420$16,770$14,333
5 years$15,487$14,748$14,046$13,380$12,748$10,427
6 years$12,777$12,043$11,351$10,700$10,087$7,883
7 years$10,841$10,113$9,433$8,797$8,203$6,116
8 years$9,390$8,669$8,000$7,380$6,806$4,834
9 years$8,262$7,548$6,890$6,286$5,731$3,872
10 years$7,361$6,653$6,007$5,418$4,883$3,134
11 years$6,623$5,923$5,289$4,716$4,200$2,557
12 years$6,009$5,316$4,693$4,136$3,639$2,099
13 years$5,490$4,804$4,193$3,652$3,174$1,732
14 years$5,046$4,367$3,768$3,242$2,782$1,435
15 years$4,661$3,989$3,402$2,891$2,450$1,193
16 years$4,324$3,660$3,084$2,589$2,165$994
17 years$4,027$3,371$2,806$2,326$1,920$830
18 years$3,764$3,115$2,562$2,096$1,707$695
19 years$3,529$2,887$2,345$1,894$1,521$582
20 years$3,317$2,682$2,152$1,715$1,359$489
21 years$3,126$2,499$1,980$1,557$1,216$410
22 years$2,952$2,332$1,825$1,415$1,090$345
23 years$2,794$2,181$1,685$1,289$978$290
24 years$2,649$2,044$1,558$1,176$879$244
25 years$2,516$1,918$1,443$1,074$791$206
26 years$2,394$1,803$1,338$982$713$173
27 years$2,280$1,697$1,243$899$643$146
28 years$2,175$1,599$1,155$823$580$123
29 years$2,078$1,508$1,075$755$524$104
30 years$1,987$1,424$1,002$693$473$88
31 years$1,902$1,346$934$636$428$74
32 years$1,822$1,274$871$585$387$62
33 years$1,748$1,206$813$538$350$53
34 years$1,678$1,143$760$495$317$45
35 years$1,612$1,085$711$456$287$38
36 years$1,550$1,029$665$420$260$32
37 years$1,492$978$622$387$236$27
38 years$1,436$929$583$356$214$23
39 years$1,384$884$546$329$194$19
40 years$1,334$841$512$303$176$16
41 years$1,287$800$480$280$160$14
42 years$1,243$762$450$258$145$11
43 years$1,200$726$422$238$131$10
44 years$1,160$692$396$220$119$8
45 years$1,121$660$372$203$108$7
46 years$1,084$630$350$188$98$6
47 years$1,049$601$328$173$89$5
48 years$1,016$574$309$160$81$4
49 years$984$548$290$148$74$4
50 years$953$523$273$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $976,000, adding $6,477 every year, while hoping to spend $49,082 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: 31/44/25 Blend
65$976,000$976,000$976,000$976,000
66$1,082,233$1,030,505$1,015,377$1,107,289
67$1,140,398$1,028,777$997,169$1,125,283
68$1,202,851$1,025,319$976,707$1,139,837
69$1,269,977$1,019,995$953,862$1,154,513
70$1,342,199$1,012,660$928,501$1,169,355
71$1,419,983$1,003,160$900,485$1,184,415
72$1,503,839$991,332$869,669$1,199,755
73$1,594,327$977,003$835,899$1,215,447
74$1,692,063$959,991$799,016$1,231,576
75$1,797,724$940,102$758,854$1,248,241
76$1,912,055$917,130$715,239$1,265,556
77$2,035,872$890,857$667,987$1,283,653
78$2,170,076$861,054$616,910$1,302,685
79$2,315,655$827,476$561,807$1,322,825
80$2,473,696$789,867$502,472$1,344,272
81$2,645,395$747,953$438,687$1,367,253
82$2,832,068$701,445$370,226$1,392,026
83$3,035,163$650,040$296,852$1,418,884
84$3,256,271$593,413$218,318$1,448,157
85$3,497,145$531,225$134,366$1,480,222
86$3,759,714$463,115$44,727$1,515,500
87$4,046,099$388,701$0$1,554,468
88$4,358,636$307,583$0$1,611,251
89$4,699,897$219,335$0$1,686,479
90$5,072,712$123,508$0$1,768,970
91$5,480,197$19,628$0$1,859,568
92$5,925,783$0$0$1,959,213
93$6,413,246$0$0$2,113,885
94$6,946,747$0$0$2,293,714
95$7,530,864$0$0$2,490,757
96$8,170,640$0$0$2,706,737
97$8,871,630$0$0$2,943,547
98$9,639,950$0$0$3,203,274
99$10,482,337$0$0$3,488,218
100$11,406,208$0$0$3,800,909