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%16%
1 years$81,175$80,452$79,747$79,058$78,386$76,460
2 years$40,186$39,437$38,712$38,009$37,327$35,398
3 years$26,524$25,773$25,049$24,353$23,682$21,811
4 years$19,695$18,946$18,229$17,545$16,890$15,091
5 years$15,599$14,854$14,147$13,476$12,839$11,118
6 years$12,868$12,129$11,433$10,777$10,159$8,517
7 years$10,919$10,186$9,501$8,860$8,262$6,699
8 years$9,458$8,731$8,057$7,433$6,854$5,369
9 years$8,322$7,602$6,940$6,331$5,772$4,365
10 years$7,413$6,701$6,050$5,457$4,918$3,586
11 years$6,671$5,965$5,327$4,750$4,230$2,971
12 years$6,052$5,354$4,727$4,166$3,666$2,478
13 years$5,530$4,839$4,223$3,678$3,196$2,078
14 years$5,082$4,398$3,795$3,265$2,802$1,751
15 years$4,694$4,018$3,426$2,912$2,467$1,480
16 years$4,355$3,686$3,106$2,607$2,180$1,255
17 years$4,056$3,395$2,827$2,342$1,933$1,067
18 years$3,791$3,137$2,580$2,111$1,719$909
19 years$3,554$2,907$2,362$1,907$1,532$775
20 years$3,341$2,702$2,168$1,728$1,369$663
21 years$3,148$2,517$1,994$1,568$1,225$567
22 years$2,974$2,349$1,838$1,426$1,098$486
23 years$2,814$2,197$1,697$1,298$985$416
24 years$2,668$2,059$1,569$1,184$886$357
25 years$2,534$1,932$1,454$1,081$797$307
26 years$2,411$1,816$1,348$989$718$264
27 years$2,297$1,709$1,252$905$647$227
28 years$2,191$1,610$1,164$829$584$195
29 years$2,093$1,519$1,083$760$527$168
30 years$2,001$1,434$1,009$698$477$144
31 years$1,915$1,356$940$641$431$124
32 years$1,835$1,283$877$589$390$107
33 years$1,760$1,215$819$542$353$92
34 years$1,690$1,152$765$498$319$79
35 years$1,624$1,092$716$459$289$68
36 years$1,561$1,037$669$423$262$59
37 years$1,502$985$627$389$238$51
38 years$1,447$936$587$359$215$44
39 years$1,394$890$550$331$195$38
40 years$1,344$847$515$305$177$32
41 years$1,297$806$483$282$161$28
42 years$1,252$768$453$260$146$24
43 years$1,209$731$425$240$132$21
44 years$1,168$697$399$221$120$18
45 years$1,129$665$375$205$109$15
46 years$1,092$634$352$189$99$13
47 years$1,057$605$331$175$90$11
48 years$1,023$578$311$161$82$10
49 years$991$552$292$149$74$8
50 years$960$527$275$138$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $983,000, adding $2,100 every year, while hoping to spend $51,760 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: 67/28/5 Blend
65$983,000$983,000$983,000$983,000
66$1,085,432$1,033,333$1,018,097$1,157,357
67$1,141,074$1,028,894$997,131$1,200,846
68$1,200,657$1,022,503$973,728$1,241,896
69$1,264,527$1,014,009$947,751$1,285,367
70$1,333,067$1,003,253$919,058$1,331,485
71$1,406,693$990,067$887,501$1,380,502
72$1,485,866$974,270$852,922$1,432,697
73$1,571,088$955,673$815,159$1,488,376
74$1,662,914$934,076$774,041$1,547,881
75$1,761,950$909,265$729,391$1,611,589
76$1,868,865$881,015$681,021$1,679,918
77$1,984,392$849,087$628,738$1,753,328
78$2,109,337$813,229$572,338$1,832,332
79$2,244,586$773,174$511,608$1,917,493
80$2,391,114$728,640$446,327$2,009,437
81$2,549,992$679,327$376,263$2,108,855
82$2,722,396$624,920$301,173$2,216,512
83$2,909,624$565,084$220,806$2,333,253
84$3,113,100$499,467$134,897$2,460,014
85$3,334,391$427,696$43,171$2,597,827
86$3,575,222$349,376$0$2,747,837
87$3,837,490$264,092$0$2,914,225
88$4,123,285$171,402$0$3,098,117
89$4,434,902$70,844$0$3,298,767
90$4,774,873$0$0$3,517,900
91$5,145,981$0$0$3,769,149
92$5,551,289$0$0$4,067,449
93$5,994,173$0$0$4,393,462
94$6,478,345$0$0$4,749,929
95$7,007,894$0$0$5,139,868
96$7,587,324$0$0$5,566,602
97$8,221,591$0$0$6,033,791
98$8,916,154$0$0$6,545,464
99$9,677,026$0$0$7,106,059
100$10,510,827$0$0$7,720,463