Can I retire at age 66 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$81,175$80,452$79,747$79,058$78,386$77,794
2 years$40,186$39,437$38,712$38,009$37,327$36,730
3 years$26,524$25,773$25,049$24,353$23,682$23,099
4 years$19,695$18,946$18,229$17,545$16,890$16,325
5 years$15,599$14,854$14,147$13,476$12,839$12,294
6 years$12,868$12,129$11,433$10,777$10,159$9,635
7 years$10,919$10,186$9,501$8,860$8,262$7,758
8 years$9,458$8,731$8,057$7,433$6,854$6,371
9 years$8,322$7,602$6,940$6,331$5,772$5,310
10 years$7,413$6,701$6,050$5,457$4,918$4,476
11 years$6,671$5,965$5,327$4,750$4,230$3,808
12 years$6,052$5,354$4,727$4,166$3,666$3,263
13 years$5,530$4,839$4,223$3,678$3,196$2,813
14 years$5,082$4,398$3,795$3,265$2,802$2,437
15 years$4,694$4,018$3,426$2,912$2,467$2,121
16 years$4,355$3,686$3,106$2,607$2,180$1,852
17 years$4,056$3,395$2,827$2,342$1,933$1,622
18 years$3,791$3,137$2,580$2,111$1,719$1,424
19 years$3,554$2,907$2,362$1,907$1,532$1,253
20 years$3,341$2,702$2,168$1,728$1,369$1,105
21 years$3,148$2,517$1,994$1,568$1,225$976
22 years$2,974$2,349$1,838$1,426$1,098$863
23 years$2,814$2,197$1,697$1,298$985$765
24 years$2,668$2,059$1,569$1,184$886$678
25 years$2,534$1,932$1,454$1,081$797$602
26 years$2,411$1,816$1,348$989$718$534
27 years$2,297$1,709$1,252$905$647$475
28 years$2,191$1,610$1,164$829$584$423
29 years$2,093$1,519$1,083$760$527$376
30 years$2,001$1,434$1,009$698$477$335
31 years$1,915$1,356$940$641$431$299
32 years$1,835$1,283$877$589$390$266
33 years$1,760$1,215$819$542$353$237
34 years$1,690$1,152$765$498$319$212
35 years$1,624$1,092$716$459$289$189
36 years$1,561$1,037$669$423$262$169
37 years$1,502$985$627$389$238$151
38 years$1,447$936$587$359$215$134
39 years$1,394$890$550$331$195$120
40 years$1,344$847$515$305$177$107
41 years$1,297$806$483$282$161$96
42 years$1,252$768$453$260$146$86
43 years$1,209$731$425$240$132$76
44 years$1,168$697$399$221$120$68
45 years$1,129$665$375$205$109$61
46 years$1,092$634$352$189$99$55
47 years$1,057$605$331$175$90$49
48 years$1,023$578$311$161$82$44
49 years$991$552$292$149$74$39
50 years$960$527$275$138$67$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $983,000, adding $5,698 every year, while hoping to spend $34,283 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: 78/14/8 Blend
65$983,000$983,000$983,000$983,000
66$1,089,143$1,037,044$1,021,808$1,172,444
67$1,163,759$1,051,383$1,019,562$1,242,274
68$1,244,837$1,065,275$1,016,091$1,313,821
69$1,332,999$1,078,662$1,011,319$1,391,279
70$1,428,931$1,091,483$1,005,165$1,475,221
71$1,533,388$1,103,671$997,543$1,566,280
72$1,647,198$1,115,155$988,365$1,665,150
73$1,771,275$1,125,861$977,538$1,772,598
74$1,906,624$1,135,707$964,965$1,889,469
75$2,054,350$1,144,607$950,542$2,016,690
76$2,215,673$1,152,472$934,164$2,155,289
77$2,391,931$1,159,202$915,718$2,306,392
78$2,584,600$1,164,696$895,087$2,471,244
79$2,795,306$1,168,843$872,149$2,651,214
80$3,025,837$1,171,525$846,775$2,847,814
81$3,278,162$1,172,620$818,832$3,062,706
82$3,554,451$1,171,994$788,179$3,297,725
83$3,857,091$1,169,509$754,670$3,554,890
84$4,188,714$1,165,014$718,150$3,836,428
85$4,552,215$1,158,352$678,461$4,144,792
86$4,950,785$1,149,356$635,434$4,482,688
87$5,387,938$1,137,847$588,894$4,853,094
88$5,867,545$1,123,638$538,658$5,259,294
89$6,393,867$1,106,529$484,536$5,704,909
90$6,971,601$1,086,308$426,327$6,193,926
91$7,605,919$1,062,752$363,824$6,730,742
92$8,302,518$1,035,623$296,808$7,320,201
93$9,067,676$1,004,669$225,052$7,967,644
94$9,908,306$969,625$148,318$8,678,954
95$10,832,026$930,210$66,360$9,460,619
96$11,847,227$886,125$0$10,319,785
97$12,963,155$837,055$0$11,266,133
98$14,189,993$782,667$0$12,312,705
99$15,538,964$722,609$0$13,463,426
100$17,022,430$656,509$0$14,728,866