Can I retire at age 66 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$81,258$80,534$79,828$79,139$78,466$78,036
2 years$40,227$39,477$38,751$38,047$37,365$36,932
3 years$26,551$25,799$25,075$24,377$23,706$23,282
4 years$19,715$18,965$18,248$17,562$16,907$16,496
5 years$15,614$14,869$14,161$13,490$12,852$12,456
6 years$12,881$12,141$11,444$10,788$10,170$9,788
7 years$10,930$10,196$9,510$8,869$8,271$7,903
8 years$9,467$8,740$8,065$7,440$6,861$6,509
9 years$8,330$7,610$6,947$6,337$5,778$5,440
10 years$7,421$6,708$6,056$5,463$4,923$4,600
11 years$6,678$5,972$5,332$4,754$4,234$3,925
12 years$6,059$5,360$4,732$4,170$3,669$3,374
13 years$5,535$4,844$4,228$3,682$3,200$2,918
14 years$5,087$4,403$3,799$3,268$2,805$2,537
15 years$4,699$4,022$3,430$2,915$2,470$2,214
16 years$4,359$3,690$3,109$2,610$2,183$1,940
17 years$4,060$3,398$2,829$2,345$1,935$1,705
18 years$3,795$3,140$2,583$2,113$1,721$1,502
19 years$3,558$2,910$2,365$1,909$1,534$1,327
20 years$3,344$2,704$2,170$1,729$1,370$1,174
21 years$3,152$2,519$1,996$1,569$1,226$1,041
22 years$2,977$2,351$1,840$1,427$1,099$924
23 years$2,817$2,199$1,699$1,300$986$822
24 years$2,671$2,061$1,571$1,185$887$731
25 years$2,537$1,934$1,455$1,083$798$652
26 years$2,413$1,817$1,349$990$719$581
27 years$2,299$1,710$1,253$906$648$519
28 years$2,193$1,612$1,165$830$585$463
29 years$2,095$1,520$1,084$761$528$414
30 years$2,003$1,436$1,010$699$477$370
31 years$1,917$1,357$941$642$431$331
32 years$1,837$1,284$878$590$390$296
33 years$1,762$1,216$820$542$353$265
34 years$1,692$1,153$766$499$320$238
35 years$1,625$1,093$716$459$290$213
36 years$1,563$1,038$670$423$262$191
37 years$1,504$986$627$390$238$171
38 years$1,448$937$587$359$216$153
39 years$1,395$891$550$331$195$138
40 years$1,345$847$516$305$177$123
41 years$1,298$807$484$282$161$111
42 years$1,253$768$454$260$146$99
43 years$1,210$732$426$240$132$89
44 years$1,169$698$400$222$120$80
45 years$1,130$665$375$205$109$72
46 years$1,093$635$352$189$99$65
47 years$1,058$606$331$175$90$58
48 years$1,024$578$311$161$82$52
49 years$992$552$292$149$74$47
50 years$961$528$275$138$67$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $984,000, adding $2,581 every year, while hoping to spend $25,266 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: 62/29/9 Blend
65$984,000$984,000$984,000$984,000
66$1,087,030$1,034,878$1,019,626$1,152,149
67$1,171,025$1,058,705$1,026,901$1,219,840
68$1,262,739$1,082,851$1,033,572$1,290,537
69$1,362,936$1,107,308$1,039,594$1,367,066
70$1,472,451$1,132,062$1,044,916$1,449,989
71$1,592,208$1,157,100$1,049,488$1,539,928
72$1,723,221$1,182,405$1,053,253$1,637,567
73$1,866,608$1,207,962$1,056,156$1,743,659
74$2,023,601$1,233,751$1,058,136$1,859,035
75$2,195,555$1,259,752$1,059,131$1,984,608
76$2,383,963$1,285,941$1,059,073$2,121,385
77$2,590,470$1,312,295$1,057,894$2,270,475
78$2,816,885$1,338,784$1,055,521$2,433,102
79$3,065,204$1,365,381$1,051,878$2,610,611
80$3,337,622$1,392,052$1,046,883$2,804,486
81$3,636,560$1,418,763$1,040,454$3,016,362
82$3,964,682$1,445,476$1,032,502$3,248,041
83$4,324,925$1,472,149$1,022,936$3,501,505
84$4,720,521$1,498,738$1,011,658$3,778,944
85$5,155,033$1,525,195$998,568$4,082,767
86$5,632,386$1,551,469$983,559$4,415,629
87$6,156,902$1,577,504$966,521$4,780,457
88$6,733,344$1,603,240$947,338$5,180,477
89$7,366,959$1,628,612$925,887$5,619,242
90$8,063,527$1,653,553$902,043$6,100,670
91$8,829,417$1,677,987$875,672$6,629,076
92$9,671,646$1,701,837$846,635$7,209,218
93$10,597,943$1,725,016$814,786$7,846,338
94$11,616,825$1,747,434$779,974$8,546,213
95$12,737,678$1,768,994$742,039$9,315,212
96$13,970,839$1,789,593$700,816$10,160,352
97$15,327,701$1,809,120$656,129$11,089,365
98$16,820,816$1,827,456$607,799$12,110,777
99$18,464,014$1,844,476$555,635$13,233,979
100$20,272,533$1,860,045$499,439$14,469,325