Can I retire at age 66 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$80,762$80,043$79,341$78,656$77,987$76,822
2 years$39,981$39,237$38,515$37,815$37,137$35,965
3 years$26,389$25,642$24,922$24,229$23,561$22,420
4 years$19,595$18,849$18,137$17,455$16,804$15,702
5 years$15,519$14,778$14,075$13,407$12,774$11,714
6 years$12,803$12,067$11,375$10,722$10,108$9,092
7 years$10,863$10,134$9,452$8,815$8,220$7,248
8 years$9,410$8,687$8,016$7,395$6,820$5,891
9 years$8,279$7,563$6,904$6,299$5,743$4,858
10 years$7,376$6,667$6,019$5,430$4,893$4,051
11 years$6,637$5,935$5,299$4,725$4,208$3,408
12 years$6,022$5,327$4,703$4,145$3,647$2,887
13 years$5,501$4,814$4,202$3,659$3,180$2,460
14 years$5,056$4,376$3,775$3,248$2,788$2,106
15 years$4,670$3,997$3,409$2,897$2,455$1,810
16 years$4,333$3,668$3,091$2,594$2,169$1,561
17 years$4,036$3,378$2,812$2,331$1,923$1,350
18 years$3,772$3,121$2,567$2,100$1,710$1,170
19 years$3,536$2,893$2,350$1,898$1,524$1,017
20 years$3,324$2,688$2,157$1,719$1,362$885
21 years$3,132$2,504$1,984$1,560$1,219$771
22 years$2,958$2,337$1,828$1,418$1,092$673
23 years$2,800$2,186$1,688$1,292$980$588
24 years$2,655$2,048$1,561$1,178$881$514
25 years$2,521$1,922$1,446$1,076$793$450
26 years$2,399$1,806$1,341$984$714$394
27 years$2,285$1,700$1,245$900$644$345
28 years$2,180$1,602$1,158$825$581$303
29 years$2,082$1,511$1,077$757$525$265
30 years$1,991$1,427$1,004$694$474$233
31 years$1,906$1,349$936$638$429$205
32 years$1,826$1,277$873$586$388$180
33 years$1,751$1,209$815$539$351$158
34 years$1,681$1,146$762$496$318$139
35 years$1,615$1,087$712$456$288$122
36 years$1,553$1,032$666$420$261$107
37 years$1,495$980$623$387$236$94
38 years$1,439$931$584$357$214$83
39 years$1,387$885$547$329$194$73
40 years$1,337$842$513$304$176$64
41 years$1,290$802$481$280$160$56
42 years$1,245$764$451$259$145$50
43 years$1,203$728$423$239$132$44
44 years$1,162$694$397$220$119$38
45 years$1,123$661$373$204$108$34
46 years$1,087$631$350$188$98$30
47 years$1,051$602$329$174$89$26
48 years$1,018$575$309$160$81$23
49 years$986$549$291$148$74$20
50 years$955$524$273$137$67$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $978,000, adding $3,862 every year, while hoping to spend $22,258 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: 37/37/26 Blend
65$978,000$978,000$978,000$978,000
66$1,081,740$1,029,906$1,014,747$1,113,221
67$1,168,395$1,056,689$1,025,058$1,163,507
68$1,263,143$1,084,038$1,034,969$1,215,466
69$1,366,785$1,111,958$1,044,443$1,271,157
70$1,480,206$1,140,453$1,053,440$1,330,932
71$1,604,377$1,169,524$1,061,920$1,395,176
72$1,740,368$1,199,176$1,069,840$1,464,317
73$1,889,360$1,229,410$1,077,154$1,538,823
74$2,052,650$1,260,227$1,083,814$1,619,211
75$2,231,669$1,291,626$1,089,770$1,706,052
76$2,427,992$1,323,609$1,094,970$1,799,973
77$2,643,353$1,356,172$1,099,358$1,901,666
78$2,879,665$1,389,313$1,102,875$2,011,893
79$3,139,030$1,423,029$1,105,462$2,131,496
80$3,423,769$1,457,315$1,107,052$2,261,400
81$3,736,434$1,492,165$1,107,579$2,402,626
82$4,079,840$1,527,570$1,106,973$2,556,300
83$4,457,085$1,563,523$1,105,158$2,723,661
84$4,871,584$1,600,012$1,102,057$2,906,077
85$5,327,098$1,637,025$1,097,588$3,105,055
86$5,827,771$1,674,547$1,091,666$3,322,256
87$6,378,167$1,712,564$1,084,200$3,559,511
88$6,983,317$1,751,057$1,075,098$3,818,838
89$7,648,761$1,790,004$1,064,260$4,102,463
90$8,380,605$1,829,384$1,051,582$4,412,838
91$9,185,574$1,869,172$1,036,958$4,752,668
92$10,071,080$1,909,338$1,020,273$5,124,932
93$11,045,287$1,949,853$1,001,410$5,532,916
94$12,117,193$1,990,683$980,244$5,980,243
95$13,296,710$2,031,789$956,645$6,470,904
96$14,594,760$2,073,132$930,478$7,009,300
97$16,023,377$2,114,667$901,600$7,600,284
98$17,595,821$2,156,346$869,864$8,249,204
99$19,326,704$2,198,116$835,113$8,961,954
100$21,232,124$2,239,920$797,186$9,745,034