Can I retire at age 66 with 982,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$81,093$80,370$79,666$78,978$78,306$77,168
2 years$40,145$39,397$38,673$37,970$37,289$36,144
3 years$26,497$25,747$25,024$24,328$23,657$22,542
4 years$19,675$18,926$18,211$17,527$16,873$15,796
5 years$15,583$14,839$14,132$13,462$12,826$11,791
6 years$12,855$12,117$11,421$10,766$10,149$9,156
7 years$10,908$10,176$9,491$8,851$8,254$7,303
8 years$9,448$8,722$8,049$7,425$6,847$5,939
9 years$8,313$7,594$6,933$6,325$5,767$4,901
10 years$7,406$6,694$6,044$5,452$4,913$4,089
11 years$6,664$5,959$5,321$4,745$4,226$3,442
12 years$6,046$5,349$4,722$4,162$3,662$2,918
13 years$5,524$4,834$4,219$3,674$3,193$2,488
14 years$5,077$4,394$3,791$3,262$2,799$2,131
15 years$4,689$4,014$3,423$2,909$2,465$1,833
16 years$4,351$3,683$3,103$2,604$2,178$1,582
17 years$4,052$3,392$2,824$2,340$1,931$1,369
18 years$3,787$3,134$2,578$2,109$1,717$1,188
19 years$3,550$2,904$2,360$1,906$1,531$1,032
20 years$3,338$2,699$2,166$1,726$1,367$899
21 years$3,145$2,514$1,992$1,566$1,223$784
22 years$2,971$2,347$1,836$1,424$1,097$685
23 years$2,811$2,195$1,695$1,297$984$599
24 years$2,666$2,056$1,568$1,183$885$524
25 years$2,532$1,930$1,452$1,080$796$459
26 years$2,408$1,814$1,347$988$717$402
27 years$2,294$1,707$1,251$904$647$353
28 years$2,189$1,608$1,163$828$583$309
29 years$2,090$1,517$1,082$760$527$272
30 years$1,999$1,433$1,008$697$476$239
31 years$1,913$1,355$939$640$430$210
32 years$1,834$1,282$877$588$389$184
33 years$1,759$1,214$818$541$352$162
34 years$1,688$1,150$765$498$319$142
35 years$1,622$1,091$715$458$289$125
36 years$1,560$1,036$669$422$262$110
37 years$1,501$984$626$389$237$97
38 years$1,445$935$586$358$215$85
39 years$1,392$889$549$331$195$75
40 years$1,343$846$515$305$177$66
41 years$1,295$805$483$281$161$58
42 years$1,250$767$453$260$146$51
43 years$1,207$731$425$240$132$45
44 years$1,167$696$399$221$120$40
45 years$1,128$664$374$204$109$35
46 years$1,091$633$352$189$99$31
47 years$1,056$605$330$174$90$27
48 years$1,022$577$311$161$82$24
49 years$990$551$292$149$74$21
50 years$959$526$274$138$67$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $982,000, adding $4,971 every year, while hoping to spend $37,172 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: 69/15/16 Blend
65$982,000$982,000$982,000$982,000
66$1,087,292$1,035,246$1,020,025$1,157,896
67$1,158,645$1,046,422$1,014,645$1,216,733
68$1,236,030$1,056,900$1,007,839$1,276,202
69$1,320,023$1,066,606$999,520$1,340,327
70$1,411,258$1,075,463$989,596$1,409,563
71$1,510,432$1,083,386$977,973$1,484,411
72$1,618,311$1,090,287$964,550$1,565,424
73$1,735,739$1,096,071$949,223$1,653,210
74$1,863,644$1,100,638$931,882$1,748,442
75$2,003,047$1,103,881$912,411$1,851,861
76$2,155,073$1,105,686$890,692$1,964,284
77$2,320,959$1,105,933$866,598$2,086,611
78$2,502,066$1,104,493$839,998$2,219,837
79$2,699,893$1,101,230$810,755$2,365,058
80$2,916,091$1,095,999$778,724$2,523,481
81$3,152,477$1,088,648$743,756$2,696,440
82$3,411,051$1,079,013$705,694$2,885,404
83$3,694,016$1,066,922$664,372$3,091,995
84$4,003,797$1,052,193$619,620$3,317,998
85$4,343,065$1,034,631$571,257$3,565,385
86$4,714,761$1,014,031$519,098$3,836,330
87$5,122,124$990,176$462,945$4,133,228
88$5,568,721$962,835$402,594$4,458,723
89$6,058,482$931,765$337,833$4,815,728
90$6,595,734$896,708$268,436$5,207,456
91$7,185,242$857,391$194,173$5,637,451
92$7,832,258$813,524$114,799$6,109,620
93$8,542,565$764,803$30,061$6,628,269
94$9,322,532$710,904$0$7,198,148
95$10,179,178$651,486$0$7,834,801
96$11,120,233$586,187$0$8,539,841
97$12,154,213$514,627$0$9,314,546
98$13,290,500$436,400$0$10,165,987
99$14,539,429$351,083$0$11,101,956
100$15,912,388$258,223$0$12,131,039