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%11.2%
1 years$80,680$79,961$79,260$78,576$77,907$77,514
2 years$39,940$39,197$38,476$37,777$37,099$36,702
3 years$26,362$25,615$24,896$24,204$23,537$23,149
4 years$19,575$18,830$18,118$17,438$16,787$16,410
5 years$15,503$14,763$14,060$13,394$12,761$12,397
6 years$12,790$12,055$11,363$10,711$10,097$9,747
7 years$10,852$10,124$9,443$8,806$8,212$7,875
8 years$9,400$8,678$8,008$7,387$6,813$6,489
9 years$8,271$7,556$6,897$6,292$5,737$5,427
10 years$7,368$6,660$6,013$5,424$4,888$4,591
11 years$6,630$5,929$5,294$4,721$4,204$3,920
12 years$6,015$5,322$4,698$4,141$3,643$3,372
13 years$5,496$4,809$4,198$3,655$3,177$2,918
14 years$5,051$4,371$3,772$3,245$2,785$2,538
15 years$4,665$3,993$3,405$2,894$2,452$2,217
16 years$4,328$3,664$3,087$2,591$2,167$1,944
17 years$4,032$3,374$2,809$2,328$1,922$1,710
18 years$3,768$3,118$2,565$2,098$1,709$1,507
19 years$3,532$2,890$2,348$1,896$1,523$1,332
20 years$3,321$2,685$2,155$1,717$1,360$1,180
21 years$3,129$2,501$1,982$1,558$1,217$1,047
22 years$2,955$2,335$1,827$1,417$1,091$930
23 years$2,797$2,184$1,687$1,290$979$827
24 years$2,652$2,046$1,560$1,177$880$737
25 years$2,519$1,920$1,445$1,075$792$657
26 years$2,396$1,805$1,340$983$714$586
27 years$2,283$1,698$1,244$900$643$524
28 years$2,178$1,600$1,157$824$580$468
29 years$2,080$1,510$1,076$756$524$419
30 years$1,989$1,426$1,003$694$474$375
31 years$1,904$1,348$935$637$428$336
32 years$1,824$1,275$872$585$387$301
33 years$1,750$1,208$814$538$351$269
34 years$1,680$1,145$761$495$317$242
35 years$1,614$1,086$711$456$287$217
36 years$1,552$1,030$665$420$260$194
37 years$1,493$979$623$387$236$174
38 years$1,438$930$583$357$214$156
39 years$1,385$884$546$329$194$140
40 years$1,336$841$512$303$176$126
41 years$1,289$801$480$280$160$113
42 years$1,244$763$450$258$145$102
43 years$1,201$727$423$238$132$91
44 years$1,161$693$397$220$119$82
45 years$1,122$661$373$203$108$74
46 years$1,085$630$350$188$98$66
47 years$1,050$601$329$173$89$60
48 years$1,017$574$309$160$81$53
49 years$985$548$290$148$74$48
50 years$954$524$273$137$67$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $977,000, adding $3,640 every year, while hoping to spend $45,561 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: 26/48/26 Blend
65$977,000$977,000$977,000$977,000
66$1,080,409$1,028,628$1,013,484$1,099,606
67$1,142,134$1,030,554$998,959$1,117,427
68$1,208,628$1,031,047$982,421$1,132,373
69$1,280,329$1,029,990$963,753$1,147,461
70$1,357,719$1,027,256$942,836$1,162,733
71$1,441,327$1,022,712$919,541$1,178,239
72$1,531,735$1,016,217$893,738$1,194,040
73$1,629,581$1,007,621$865,287$1,210,206
74$1,735,567$996,764$834,044$1,226,820
75$1,850,468$983,477$799,856$1,243,976
76$1,975,131$967,583$762,567$1,261,786
77$2,110,490$948,891$722,009$1,280,378
78$2,257,575$927,201$678,011$1,299,899
79$2,417,514$902,301$630,391$1,320,517
80$2,591,551$873,964$578,960$1,342,424
81$2,781,055$841,954$523,521$1,365,840
82$2,987,531$806,018$463,867$1,391,014
83$3,212,636$765,890$399,783$1,418,229
84$3,458,194$721,287$331,045$1,447,804
85$3,726,211$671,912$257,416$1,480,103
86$4,018,897$617,449$178,653$1,515,532
87$4,338,685$557,564$94,498$1,554,553
88$4,688,252$491,905$4,684$1,597,683
89$5,070,546$420,101$0$1,645,506
90$5,488,812$341,756$0$1,723,964
91$5,946,626$256,457$0$1,811,533
92$6,447,922$163,764$0$1,907,816
93$6,997,034$63,213$0$2,013,823
94$7,598,736$0$0$2,130,672
95$8,258,284$0$0$2,283,740
96$8,981,466$0$0$2,488,350
97$9,774,659$0$0$2,712,937
98$10,644,887$0$0$2,959,512
99$11,599,883$0$0$3,230,288
100$12,648,170$0$0$3,527,704