Can I retire at age 66 with 983,000?

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 $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%14.1%
1 years$81,175$80,452$79,747$79,058$78,386$77,056
2 years$40,186$39,437$38,712$38,009$37,327$35,990
3 years$26,524$25,773$25,049$24,353$23,682$22,381
4 years$19,695$18,946$18,229$17,545$16,890$15,635
5 years$15,599$14,854$14,147$13,476$12,839$11,634
6 years$12,868$12,129$11,433$10,777$10,159$9,005
7 years$10,919$10,186$9,501$8,860$8,262$7,159
8 years$9,458$8,731$8,057$7,433$6,854$5,802
9 years$8,322$7,602$6,940$6,331$5,772$4,770
10 years$7,413$6,701$6,050$5,457$4,918$3,965
11 years$6,671$5,965$5,327$4,750$4,230$3,325
12 years$6,052$5,354$4,727$4,166$3,666$2,808
13 years$5,530$4,839$4,223$3,678$3,196$2,385
14 years$5,082$4,398$3,795$3,265$2,802$2,035
15 years$4,694$4,018$3,426$2,912$2,467$1,743
16 years$4,355$3,686$3,106$2,607$2,180$1,498
17 years$4,056$3,395$2,827$2,342$1,933$1,291
18 years$3,791$3,137$2,580$2,111$1,719$1,115
19 years$3,554$2,907$2,362$1,907$1,532$965
20 years$3,341$2,702$2,168$1,728$1,369$837
21 years$3,148$2,517$1,994$1,568$1,225$726
22 years$2,974$2,349$1,838$1,426$1,098$631
23 years$2,814$2,197$1,697$1,298$985$549
24 years$2,668$2,059$1,569$1,184$886$479
25 years$2,534$1,932$1,454$1,081$797$417
26 years$2,411$1,816$1,348$989$718$364
27 years$2,297$1,709$1,252$905$647$318
28 years$2,191$1,610$1,164$829$584$277
29 years$2,093$1,519$1,083$760$527$242
30 years$2,001$1,434$1,009$698$477$212
31 years$1,915$1,356$940$641$431$185
32 years$1,835$1,283$877$589$390$162
33 years$1,760$1,215$819$542$353$142
34 years$1,690$1,152$765$498$319$124
35 years$1,624$1,092$716$459$289$108
36 years$1,561$1,037$669$423$262$95
37 years$1,502$985$627$389$238$83
38 years$1,447$936$587$359$215$73
39 years$1,394$890$550$331$195$64
40 years$1,344$847$515$305$177$56
41 years$1,297$806$483$282$161$49
42 years$1,252$768$453$260$146$43
43 years$1,209$731$425$240$132$38
44 years$1,168$697$399$221$120$33
45 years$1,129$665$375$205$109$29
46 years$1,092$634$352$189$99$25
47 years$1,057$605$331$175$90$22
48 years$1,023$578$311$161$82$19
49 years$991$552$292$149$74$17
50 years$960$527$275$138$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $983,000, adding $6,526 every year, while hoping to spend $23,745 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: 67/12/21 Blend
65$983,000$983,000$983,000$983,000
66$1,089,998$1,037,899$1,022,662$1,156,846
67$1,175,913$1,063,491$1,031,657$1,228,054
68$1,269,796$1,089,542$1,040,157$1,302,560
69$1,372,434$1,116,048$1,048,121$1,383,474
70$1,484,694$1,143,007$1,055,505$1,471,425
71$1,607,531$1,170,412$1,062,263$1,567,108
72$1,741,997$1,198,260$1,068,346$1,671,289
73$1,889,249$1,226,543$1,073,704$1,784,809
74$2,050,562$1,255,254$1,078,283$1,908,599
75$2,227,340$1,284,382$1,082,027$2,043,681
76$2,421,130$1,313,918$1,084,875$2,191,183
77$2,633,634$1,343,849$1,086,768$2,352,347
78$2,866,729$1,374,161$1,087,638$2,528,543
79$3,122,479$1,404,839$1,087,418$2,721,279
80$3,403,162$1,435,866$1,086,036$2,932,217
81$3,711,283$1,467,222$1,083,417$3,163,191
82$4,049,604$1,498,886$1,079,482$3,416,218
83$4,421,166$1,530,834$1,074,147$3,693,525
84$4,829,321$1,563,041$1,067,327$3,997,562
85$5,277,759$1,595,477$1,058,930$4,331,032
86$5,770,547$1,628,112$1,048,860$4,696,912
87$6,312,164$1,660,911$1,037,019$5,098,486
88$6,907,547$1,693,838$1,023,301$5,539,368
89$7,562,133$1,726,852$1,007,598$6,023,547
90$8,281,911$1,759,909$989,793$6,555,413
91$9,073,484$1,792,961$969,769$7,139,809
92$9,944,121$1,825,958$947,398$7,782,070
93$10,901,835$1,858,844$922,549$8,488,075
94$11,955,453$1,891,559$895,086$9,264,306
95$13,114,702$1,924,038$864,864$10,117,905
96$14,390,298$1,956,212$831,733$11,056,742
97$15,794,048$1,988,006$795,536$12,089,492
98$17,338,963$2,019,340$756,109$13,225,716
99$19,039,378$2,050,129$713,279$14,475,949
100$20,911,088$2,080,278$666,867$15,851,804