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%15.2%
1 years$81,010$80,288$79,584$78,897$78,226$76,553
2 years$40,104$39,357$38,633$37,931$37,251$35,573
3 years$26,470$25,720$24,998$24,303$23,633$22,004
4 years$19,655$18,907$18,192$17,509$16,855$15,286
5 years$15,567$14,823$14,118$13,449$12,813$11,309
6 years$12,842$12,104$11,409$10,755$10,139$8,701
7 years$10,897$10,165$9,481$8,842$8,245$6,875
8 years$9,438$8,714$8,041$7,418$6,840$5,536
9 years$8,305$7,587$6,926$6,318$5,761$4,522
10 years$7,398$6,687$6,038$5,446$4,908$3,734
11 years$6,657$5,953$5,316$4,740$4,221$3,109
12 years$6,040$5,343$4,718$4,157$3,658$2,607
13 years$5,518$4,829$4,215$3,670$3,190$2,198
14 years$5,071$4,389$3,787$3,258$2,796$1,862
15 years$4,684$4,010$3,419$2,906$2,462$1,583
16 years$4,346$3,679$3,100$2,602$2,176$1,350
17 years$4,048$3,388$2,821$2,338$1,929$1,154
18 years$3,783$3,131$2,575$2,107$1,716$989
19 years$3,547$2,902$2,357$1,904$1,529$849
20 years$3,334$2,696$2,163$1,724$1,366$730
21 years$3,142$2,511$1,990$1,565$1,222$628
22 years$2,968$2,344$1,834$1,423$1,096$542
23 years$2,808$2,193$1,693$1,296$983$467
24 years$2,663$2,054$1,566$1,182$884$403
25 years$2,529$1,928$1,451$1,079$795$349
26 years$2,406$1,812$1,345$987$716$301
27 years$2,292$1,705$1,249$903$646$261
28 years$2,186$1,607$1,161$828$583$226
29 years$2,088$1,516$1,081$759$526$195
30 years$1,997$1,432$1,007$696$476$169
31 years$1,912$1,353$938$640$430$147
32 years$1,832$1,280$876$588$389$127
33 years$1,757$1,213$818$541$352$110
34 years$1,687$1,149$764$497$319$95
35 years$1,620$1,090$714$458$289$83
36 years$1,558$1,035$668$422$262$72
37 years$1,499$983$625$389$237$62
38 years$1,444$934$586$358$215$54
39 years$1,391$888$549$330$195$47
40 years$1,341$845$514$305$177$41
41 years$1,294$804$482$281$160$35
42 years$1,249$766$452$259$146$31
43 years$1,206$730$424$239$132$27
44 years$1,166$696$398$221$120$23
45 years$1,127$663$374$204$109$20
46 years$1,090$633$351$189$99$17
47 years$1,055$604$330$174$90$15
48 years$1,021$577$310$161$81$13
49 years$989$551$292$149$74$11
50 years$958$526$274$138$67$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $981,000, adding $5,071 every year, while hoping to spend $48,748 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: 77/18/5 Blend
65$981,000$981,000$981,000$981,000
66$1,086,293$1,034,300$1,019,094$1,169,255
67$1,145,227$1,033,113$1,001,366$1,223,207
68$1,208,539$1,030,234$981,411$1,275,500
69$1,276,623$1,025,529$959,102$1,331,381
70$1,349,914$1,018,855$934,306$1,391,185
71$1,428,887$1,010,061$906,888$1,455,279
72$1,514,066$998,986$876,701$1,524,070
73$1,606,025$985,461$843,594$1,598,006
74$1,705,396$969,305$807,411$1,677,581
75$1,812,872$950,327$767,986$1,763,340
76$1,929,218$928,325$725,146$1,855,882
77$2,055,271$903,086$678,711$1,955,870
78$2,191,953$874,382$628,492$2,064,034
79$2,340,279$841,973$574,294$2,181,178
80$2,501,364$805,606$515,908$2,308,192
81$2,676,434$765,012$453,122$2,446,055
82$2,866,839$719,906$385,711$2,595,845
83$3,074,063$669,989$313,439$2,758,755
84$3,299,741$614,942$236,063$2,936,099
85$3,545,671$554,429$153,327$3,129,324
86$3,813,829$488,097$64,963$3,340,031
87$4,106,395$415,568$0$3,569,980
88$4,425,764$336,448$0$3,822,682
89$4,774,575$250,317$0$4,102,517
90$5,155,732$156,734$0$4,408,394
91$5,572,434$55,230$0$4,742,941
92$6,028,199$0$0$5,109,050
93$6,526,905$0$0$5,520,745
94$7,072,820$0$0$5,983,421
95$7,670,643$0$0$6,490,126
96$8,325,551$0$0$7,045,252
97$9,043,243$0$0$7,653,634
98$9,829,997$0$0$8,320,599
99$10,692,727$0$0$9,052,012
100$11,639,047$0$0$9,854,335