Can I retire at age 66 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$80,680$79,961$79,260$78,576$77,907$76,870
2 years$39,940$39,197$38,476$37,777$37,099$36,055
3 years$26,362$25,615$24,896$24,204$23,537$22,520
4 years$19,575$18,830$18,118$17,438$16,787$15,804
5 years$15,503$14,763$14,060$13,394$12,761$11,815
6 years$12,790$12,055$11,363$10,711$10,097$9,190
7 years$10,852$10,124$9,443$8,806$8,212$7,343
8 years$9,400$8,678$8,008$7,387$6,813$5,982
9 years$8,271$7,556$6,897$6,292$5,737$4,944
10 years$7,368$6,660$6,013$5,424$4,888$4,133
11 years$6,630$5,929$5,294$4,721$4,204$3,485
12 years$6,015$5,322$4,698$4,141$3,643$2,960
13 years$5,496$4,809$4,198$3,655$3,177$2,529
14 years$5,051$4,371$3,772$3,245$2,785$2,171
15 years$4,665$3,993$3,405$2,894$2,452$1,871
16 years$4,328$3,664$3,087$2,591$2,167$1,618
17 years$4,032$3,374$2,809$2,328$1,922$1,403
18 years$3,768$3,118$2,565$2,098$1,709$1,220
19 years$3,532$2,890$2,348$1,896$1,523$1,063
20 years$3,321$2,685$2,155$1,717$1,360$928
21 years$3,129$2,501$1,982$1,558$1,217$811
22 years$2,955$2,335$1,827$1,417$1,091$710
23 years$2,797$2,184$1,687$1,290$979$622
24 years$2,652$2,046$1,560$1,177$880$545
25 years$2,519$1,920$1,445$1,075$792$479
26 years$2,396$1,805$1,340$983$714$421
27 years$2,283$1,698$1,244$900$643$370
28 years$2,178$1,600$1,157$824$580$325
29 years$2,080$1,510$1,076$756$524$286
30 years$1,989$1,426$1,003$694$474$252
31 years$1,904$1,348$935$637$428$222
32 years$1,824$1,275$872$585$387$196
33 years$1,750$1,208$814$538$351$172
34 years$1,680$1,145$761$495$317$152
35 years$1,614$1,086$711$456$287$134
36 years$1,552$1,030$665$420$260$118
37 years$1,493$979$623$387$236$104
38 years$1,438$930$583$357$214$92
39 years$1,385$884$546$329$194$81
40 years$1,336$841$512$303$176$72
41 years$1,289$801$480$280$160$63
42 years$1,244$763$450$258$145$56
43 years$1,201$727$423$238$132$49
44 years$1,161$693$397$220$119$44
45 years$1,122$661$373$203$108$38
46 years$1,085$630$350$188$98$34
47 years$1,050$601$329$173$89$30
48 years$1,017$574$309$160$81$26
49 years$985$548$290$148$74$23
50 years$954$524$273$137$67$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $977,000, adding $5,080 every year, while hoping to spend $34,199 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: 40/43/17 Blend
65$977,000$977,000$977,000$977,000
66$1,081,894$1,030,113$1,014,970$1,119,523
67$1,155,860$1,044,201$1,012,584$1,160,875
68$1,236,224$1,057,833$1,008,971$1,201,891
69$1,323,603$1,070,951$1,004,056$1,245,541
70$1,418,675$1,083,492$997,756$1,292,082
71$1,522,186$1,095,390$989,988$1,341,796
72$1,634,958$1,106,573$980,661$1,394,999
73$1,757,894$1,116,965$969,684$1,452,039
74$1,891,989$1,126,486$956,958$1,513,300
75$2,038,337$1,135,050$942,382$1,579,209
76$2,198,144$1,142,564$925,848$1,650,235
77$2,372,736$1,148,931$907,245$1,726,902
78$2,563,574$1,154,047$886,457$1,809,784
79$2,772,265$1,157,802$863,359$1,899,519
80$3,000,579$1,160,077$837,825$1,996,812
81$3,250,466$1,160,749$809,720$2,102,443
82$3,524,072$1,159,684$778,904$2,217,274
83$3,823,761$1,156,742$745,230$2,342,257
84$4,152,135$1,151,773$708,546$2,478,444
85$4,512,061$1,144,618$668,691$2,627,002
86$4,906,697$1,135,110$625,498$2,789,215
87$5,339,519$1,123,070$578,791$2,966,505
88$5,814,358$1,108,308$528,389$3,160,444
89$6,335,432$1,090,625$474,099$3,372,768
90$6,907,388$1,069,807$415,724$3,605,392
91$7,535,344$1,045,630$353,053$3,860,437
92$8,224,939$1,017,856$285,870$4,140,242
93$8,982,384$986,232$213,948$4,447,391
94$9,814,521$950,491$137,049$4,784,738
95$10,728,888$910,351$54,926$5,155,435
96$11,733,789$865,513$0$5,562,963
97$12,838,372$815,660$0$6,017,098
98$14,052,717$760,457$0$6,527,166
99$15,387,927$699,552$0$7,087,930
100$16,856,235$632,571$0$7,704,613