Can I retire at age 66 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$80,845$80,125$79,422$78,736$78,067$75,267
2 years$40,022$39,277$38,554$37,854$37,175$34,384
3 years$26,416$25,668$24,947$24,253$23,585$20,892
4 years$19,615$18,869$18,155$17,473$16,821$14,245
5 years$15,535$14,793$14,089$13,421$12,787$10,336
6 years$12,816$12,080$11,386$10,733$10,118$7,793
7 years$10,875$10,145$9,462$8,824$8,229$6,029
8 years$9,419$8,696$8,024$7,402$6,826$4,751
9 years$8,288$7,571$6,911$6,305$5,749$3,794
10 years$7,383$6,674$6,026$5,435$4,898$3,061
11 years$6,644$5,941$5,305$4,730$4,213$2,489
12 years$6,028$5,332$4,708$4,149$3,651$2,037
13 years$5,507$4,819$4,206$3,663$3,183$1,675
14 years$5,061$4,380$3,779$3,252$2,791$1,383
15 years$4,675$4,002$3,412$2,900$2,457$1,145
16 years$4,337$3,671$3,094$2,596$2,172$951
17 years$4,040$3,381$2,815$2,333$1,925$792
18 years$3,776$3,124$2,570$2,102$1,712$660
19 years$3,540$2,896$2,353$1,900$1,526$551
20 years$3,327$2,691$2,159$1,721$1,363$461
21 years$3,136$2,506$1,986$1,562$1,220$385
22 years$2,961$2,340$1,830$1,420$1,093$323
23 years$2,803$2,188$1,690$1,293$981$270
24 years$2,657$2,050$1,563$1,179$882$227
25 years$2,524$1,924$1,448$1,077$794$190
26 years$2,401$1,808$1,343$985$715$160
27 years$2,287$1,702$1,247$901$645$134
28 years$2,182$1,604$1,159$826$582$113
29 years$2,084$1,513$1,079$757$525$95
30 years$1,993$1,429$1,005$695$475$79
31 years$1,908$1,351$937$638$429$67
32 years$1,828$1,278$874$587$388$56
33 years$1,753$1,210$816$539$351$47
34 years$1,683$1,147$762$496$318$40
35 years$1,617$1,088$713$457$288$33
36 years$1,555$1,033$667$421$261$28
37 years$1,496$981$624$388$237$24
38 years$1,441$932$584$357$214$20
39 years$1,388$886$548$330$194$17
40 years$1,338$843$513$304$176$14
41 years$1,291$803$481$280$160$12
42 years$1,246$764$451$259$145$10
43 years$1,204$728$424$239$132$8
44 years$1,163$694$398$221$120$7
45 years$1,125$662$373$204$109$6
46 years$1,088$632$351$188$99$5
47 years$1,052$603$329$174$90$4
48 years$1,019$575$310$161$81$4
49 years$987$549$291$148$74$3
50 years$956$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $979,000, adding $5,532 every year, while hoping to spend $26,463 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: 48/25/27 Blend
65$979,000$979,000$979,000$979,000
66$1,084,564$1,032,677$1,017,503$1,128,039
67$1,167,033$1,055,122$1,023,433$1,181,582
68$1,257,027$1,077,780$1,028,674$1,236,652
69$1,355,286$1,100,633$1,033,177$1,295,940
70$1,462,623$1,123,662$1,036,886$1,359,858
71$1,579,936$1,146,846$1,039,747$1,428,859
72$1,708,210$1,170,162$1,041,699$1,503,440
73$1,848,532$1,193,585$1,042,681$1,584,155
74$2,002,099$1,217,087$1,042,627$1,671,609
75$2,170,227$1,240,639$1,041,470$1,766,473
76$2,354,369$1,264,208$1,039,137$1,869,486
77$2,556,120$1,287,760$1,035,553$1,981,463
78$2,777,240$1,311,256$1,030,640$2,103,303
79$3,019,667$1,334,656$1,024,315$2,235,996
80$3,285,534$1,357,916$1,016,491$2,380,637
81$3,577,193$1,380,988$1,007,078$2,538,430
82$3,897,232$1,403,821$995,980$2,710,705
83$4,248,502$1,426,361$983,098$2,898,929
84$4,634,146$1,448,549$968,328$3,104,718
85$5,057,622$1,470,321$951,561$3,329,857
86$5,522,743$1,491,611$932,681$3,576,311
87$6,033,707$1,512,344$911,571$3,846,249
88$6,595,140$1,532,444$888,104$4,142,064
89$7,212,139$1,551,828$862,149$4,466,392
90$7,890,316$1,570,407$833,571$4,822,142
91$8,635,858$1,588,087$802,225$5,212,520
92$9,455,578$1,604,765$767,962$5,641,063
93$10,356,983$1,620,335$730,625$6,111,671
94$11,348,346$1,634,682$690,051$6,628,642
95$12,438,778$1,647,682$646,069$7,196,717
96$13,638,321$1,659,206$598,499$7,821,124
97$14,958,037$1,669,114$547,156$8,507,625
98$16,410,115$1,677,259$491,844$9,262,576
99$18,007,985$1,683,483$432,360$10,092,982
100$19,766,445$1,687,620$368,489$11,006,567