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%12%
1 years$81,010$80,288$79,584$78,897$78,226$77,571
2 years$40,104$39,357$38,633$37,931$37,251$36,590
3 years$26,470$25,720$24,998$24,303$23,633$22,988
4 years$19,655$18,907$18,192$17,509$16,855$16,230
5 years$15,567$14,823$14,118$13,449$12,813$12,210
6 years$12,842$12,104$11,409$10,755$10,139$9,559
7 years$10,897$10,165$9,481$8,842$8,245$7,689
8 years$9,438$8,714$8,041$7,418$6,840$6,307
9 years$8,305$7,587$6,926$6,318$5,761$5,250
10 years$7,398$6,687$6,038$5,446$4,908$4,420
11 years$6,657$5,953$5,316$4,740$4,221$3,756
12 years$6,040$5,343$4,718$4,157$3,658$3,214
13 years$5,518$4,829$4,215$3,670$3,190$2,768
14 years$5,071$4,389$3,787$3,258$2,796$2,395
15 years$4,684$4,010$3,419$2,906$2,462$2,081
16 years$4,346$3,679$3,100$2,602$2,176$1,814
17 years$4,048$3,388$2,821$2,338$1,929$1,587
18 years$3,783$3,131$2,575$2,107$1,716$1,391
19 years$3,547$2,902$2,357$1,904$1,529$1,223
20 years$3,334$2,696$2,163$1,724$1,366$1,077
21 years$3,142$2,511$1,990$1,565$1,222$949
22 years$2,968$2,344$1,834$1,423$1,096$839
23 years$2,808$2,193$1,693$1,296$983$742
24 years$2,663$2,054$1,566$1,182$884$657
25 years$2,529$1,928$1,451$1,079$795$582
26 years$2,406$1,812$1,345$987$716$516
27 years$2,292$1,705$1,249$903$646$458
28 years$2,186$1,607$1,161$828$583$407
29 years$2,088$1,516$1,081$759$526$361
30 years$1,997$1,432$1,007$696$476$321
31 years$1,912$1,353$938$640$430$286
32 years$1,832$1,280$876$588$389$254
33 years$1,757$1,213$818$541$352$227
34 years$1,687$1,149$764$497$319$202
35 years$1,620$1,090$714$458$289$180
36 years$1,558$1,035$668$422$262$160
37 years$1,499$983$625$389$237$143
38 years$1,444$934$586$358$215$127
39 years$1,391$888$549$330$195$113
40 years$1,341$845$514$305$177$101
41 years$1,294$804$482$281$160$90
42 years$1,249$766$452$259$146$80
43 years$1,206$730$424$239$132$72
44 years$1,166$696$398$221$120$64
45 years$1,127$663$374$204$109$57
46 years$1,090$633$351$189$99$51
47 years$1,055$604$330$174$90$45
48 years$1,021$577$310$161$81$41
49 years$989$551$292$149$74$36
50 years$958$526$274$138$67$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $981,000, adding $6,659 every year, while hoping to spend $44,112 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: 56/26/18 Blend
65$981,000$981,000$981,000$981,000
66$1,087,931$1,035,938$1,020,732$1,143,291
67$1,151,965$1,039,764$1,007,992$1,185,564
68$1,221,052$1,042,299$993,346$1,226,279
69$1,295,661$1,043,433$976,685$1,269,647
70$1,376,307$1,043,050$957,893$1,315,934
71$1,463,556$1,041,026$936,848$1,365,434
72$1,558,032$1,037,228$913,425$1,418,470
73$1,660,417$1,031,518$887,491$1,475,403
74$1,771,464$1,023,748$858,907$1,536,631
75$1,892,002$1,013,760$827,528$1,602,595
76$2,022,939$1,001,387$793,204$1,673,783
77$2,165,278$986,454$755,775$1,750,736
78$2,320,119$968,773$715,076$1,834,051
79$2,488,675$948,146$670,935$1,924,390
80$2,672,278$924,364$623,169$2,022,486
81$2,872,396$897,203$571,591$2,129,148
82$3,090,643$866,430$516,003$2,245,272
83$3,328,798$831,794$456,198$2,371,848
84$3,588,816$793,033$391,961$2,509,973
85$3,872,851$749,867$323,068$2,660,858
86$4,183,274$702,003$249,283$2,825,841
87$4,522,695$649,128$170,361$3,006,404
88$4,893,988$590,913$86,046$3,204,183
89$5,300,317$527,010$0$3,420,984
90$5,745,167$457,051$0$3,659,564
91$6,232,374$380,646$0$3,939,058
92$6,766,164$297,386$0$4,245,419
93$7,351,190$206,835$0$4,581,401
94$7,992,578$108,536$0$4,950,039
95$8,695,971$2,005$0$5,354,686
96$9,467,588$0$0$5,799,038
97$10,314,275$0$0$6,319,580
98$11,243,575$0$0$6,891,634
99$12,263,797$0$0$7,519,753
100$13,384,094$0$0$8,209,584