Can I retire at age 66 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$81,010$80,288$79,584$78,897$78,226$76,058
2 years$40,104$39,357$38,633$37,931$37,251$35,082
3 years$26,470$25,720$24,998$24,303$23,633$21,533
4 years$19,655$18,907$18,192$17,509$16,855$14,839
5 years$15,567$14,823$14,118$13,449$12,813$10,886
6 years$12,842$12,104$11,409$10,755$10,139$8,303
7 years$10,897$10,165$9,481$8,842$8,245$6,501
8 years$9,438$8,714$8,041$7,418$6,840$5,186
9 years$8,305$7,587$6,926$6,318$5,761$4,195
10 years$7,398$6,687$6,038$5,446$4,908$3,430
11 years$6,657$5,953$5,316$4,740$4,221$2,827
12 years$6,040$5,343$4,718$4,157$3,658$2,346
13 years$5,518$4,829$4,215$3,670$3,190$1,957
14 years$5,071$4,389$3,787$3,258$2,796$1,639
15 years$4,684$4,010$3,419$2,906$2,462$1,378
16 years$4,346$3,679$3,100$2,602$2,176$1,162
17 years$4,048$3,388$2,821$2,338$1,929$982
18 years$3,783$3,131$2,575$2,107$1,716$831
19 years$3,547$2,902$2,357$1,904$1,529$705
20 years$3,334$2,696$2,163$1,724$1,366$599
21 years$3,142$2,511$1,990$1,565$1,222$509
22 years$2,968$2,344$1,834$1,423$1,096$434
23 years$2,808$2,193$1,693$1,296$983$370
24 years$2,663$2,054$1,566$1,182$884$315
25 years$2,529$1,928$1,451$1,079$795$269
26 years$2,406$1,812$1,345$987$716$229
27 years$2,292$1,705$1,249$903$646$196
28 years$2,186$1,607$1,161$828$583$167
29 years$2,088$1,516$1,081$759$526$143
30 years$1,997$1,432$1,007$696$476$122
31 years$1,912$1,353$938$640$430$105
32 years$1,832$1,280$876$588$389$89
33 years$1,757$1,213$818$541$352$76
34 years$1,687$1,149$764$497$319$65
35 years$1,620$1,090$714$458$289$56
36 years$1,558$1,035$668$422$262$48
37 years$1,499$983$625$389$237$41
38 years$1,444$934$586$358$215$35
39 years$1,391$888$549$330$195$30
40 years$1,341$845$514$305$177$26
41 years$1,294$804$482$281$160$22
42 years$1,249$766$452$259$146$19
43 years$1,206$730$424$239$132$16
44 years$1,166$696$398$221$120$14
45 years$1,127$663$374$204$109$12
46 years$1,090$633$351$189$99$10
47 years$1,055$604$330$174$90$9
48 years$1,021$577$310$161$81$7
49 years$989$551$292$149$74$6
50 years$958$526$274$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $981,000, adding $2,306 every year, while hoping to spend $54,344 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: 49/45/6 Blend
65$981,000$981,000$981,000$981,000
66$1,083,441$1,031,448$1,016,242$1,134,772
67$1,136,130$1,024,167$992,465$1,162,769
68$1,192,372$1,014,708$966,069$1,187,172
69$1,252,473$1,002,907$936,911$1,212,385
70$1,316,765$988,590$904,838$1,238,498
71$1,385,616$971,572$869,691$1,265,612
72$1,459,429$951,659$831,305$1,293,841
73$1,538,643$928,642$789,506$1,323,316
74$1,623,743$902,305$744,113$1,354,183
75$1,715,261$872,413$694,937$1,386,609
76$1,813,778$838,723$641,779$1,420,779
77$1,919,937$800,974$584,432$1,456,906
78$2,034,441$758,891$522,680$1,495,225
79$2,158,062$712,185$456,298$1,536,003
80$2,291,649$660,547$385,049$1,579,540
81$2,436,137$603,653$308,688$1,626,170
82$2,592,551$541,160$226,957$1,676,271
83$2,762,019$472,705$139,587$1,730,263
84$2,945,780$397,903$46,299$1,788,617
85$3,145,200$316,350$0$1,851,861
86$3,361,777$227,618$0$1,923,994
87$3,597,162$131,255$0$2,005,648
88$3,853,170$26,784$0$2,094,612
89$4,131,796$0$0$2,191,725
90$4,435,239$0$0$2,340,658
91$4,765,917$0$0$2,517,507
92$5,126,489$0$0$2,710,446
93$5,519,885$0$0$2,921,052
94$5,949,328$0$0$3,151,066
95$6,418,366$0$0$3,402,401
96$6,930,905$0$0$3,677,166
97$7,491,246$0$0$3,977,679
98$8,104,124$0$0$4,306,496
99$8,774,751$0$0$4,666,430
100$9,508,869$0$0$5,060,579