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%14.4%
1 years$81,258$80,534$79,828$79,139$78,466$77,039
2 years$40,227$39,477$38,751$38,047$37,365$35,932
3 years$26,551$25,799$25,075$24,377$23,706$22,312
4 years$19,715$18,965$18,248$17,562$16,907$15,564
5 years$15,614$14,869$14,161$13,490$12,852$11,563
6 years$12,881$12,141$11,444$10,788$10,170$8,935
7 years$10,930$10,196$9,510$8,869$8,271$7,091
8 years$9,467$8,740$8,065$7,440$6,861$5,737
9 years$8,330$7,610$6,947$6,337$5,778$4,708
10 years$7,421$6,708$6,056$5,463$4,923$3,907
11 years$6,678$5,972$5,332$4,754$4,234$3,270
12 years$6,059$5,360$4,732$4,170$3,669$2,756
13 years$5,535$4,844$4,228$3,682$3,200$2,336
14 years$5,087$4,403$3,799$3,268$2,805$1,990
15 years$4,699$4,022$3,430$2,915$2,470$1,701
16 years$4,359$3,690$3,109$2,610$2,183$1,458
17 years$4,060$3,398$2,829$2,345$1,935$1,254
18 years$3,795$3,140$2,583$2,113$1,721$1,081
19 years$3,558$2,910$2,365$1,909$1,534$933
20 years$3,344$2,704$2,170$1,729$1,370$807
21 years$3,152$2,519$1,996$1,569$1,226$699
22 years$2,977$2,351$1,840$1,427$1,099$606
23 years$2,817$2,199$1,699$1,300$986$527
24 years$2,671$2,061$1,571$1,185$887$458
25 years$2,537$1,934$1,455$1,083$798$398
26 years$2,413$1,817$1,349$990$719$346
27 years$2,299$1,710$1,253$906$648$301
28 years$2,193$1,612$1,165$830$585$263
29 years$2,095$1,520$1,084$761$528$229
30 years$2,003$1,436$1,010$699$477$200
31 years$1,917$1,357$941$642$431$174
32 years$1,837$1,284$878$590$390$152
33 years$1,762$1,216$820$542$353$132
34 years$1,692$1,153$766$499$320$116
35 years$1,625$1,093$716$459$290$101
36 years$1,563$1,038$670$423$262$88
37 years$1,504$986$627$390$238$77
38 years$1,448$937$587$359$216$67
39 years$1,395$891$550$331$195$59
40 years$1,345$847$516$305$177$51
41 years$1,298$807$484$282$161$45
42 years$1,253$768$454$260$146$39
43 years$1,210$732$426$240$132$34
44 years$1,169$698$400$222$120$30
45 years$1,130$665$375$205$109$26
46 years$1,093$635$352$189$99$23
47 years$1,058$606$331$175$90$20
48 years$1,024$578$311$161$82$17
49 years$992$552$292$149$74$15
50 years$961$528$275$138$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $984,000, adding $4,489 every year, while hoping to spend $22,907 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: 79/5/16 Blend
65$984,000$984,000$984,000$984,000
66$1,088,998$1,036,846$1,021,594$1,170,964
67$1,175,703$1,063,279$1,031,445$1,252,027
68$1,270,484$1,090,239$1,040,858$1,337,580
69$1,374,141$1,117,728$1,049,794$1,430,811
70$1,487,554$1,145,747$1,058,213$1,532,480
71$1,611,693$1,174,297$1,066,071$1,643,424
72$1,747,624$1,203,376$1,073,323$1,764,564
73$1,896,524$1,232,984$1,079,922$1,896,917
74$2,059,687$1,263,118$1,085,816$2,041,600
75$2,238,539$1,293,774$1,090,955$2,199,847
76$2,434,650$1,324,949$1,095,282$2,373,015
77$2,649,749$1,356,636$1,098,738$2,562,599
78$2,885,741$1,388,829$1,101,264$2,770,248
79$3,144,725$1,421,520$1,102,794$2,997,777
80$3,429,011$1,454,698$1,103,262$3,247,186
81$3,741,145$1,488,354$1,102,596$3,520,681
82$4,083,931$1,522,473$1,100,723$3,820,689
83$4,460,460$1,557,041$1,097,564$4,149,885
84$4,874,133$1,592,043$1,093,039$4,511,220
85$5,328,700$1,627,458$1,087,062$4,907,941
86$5,828,291$1,663,268$1,079,542$5,343,629
87$6,377,457$1,699,448$1,070,386$5,822,227
88$6,981,210$1,735,973$1,059,497$6,348,084
89$7,645,073$1,772,815$1,046,770$6,925,988
90$8,375,131$1,809,944$1,032,097$7,561,217
91$9,178,088$1,847,325$1,015,366$8,259,588
92$10,061,331$1,884,922$996,459$9,027,510
93$11,032,998$1,922,694$975,251$9,872,045
94$12,102,055$1,960,597$951,613$10,800,976
95$13,278,382$1,998,584$925,410$11,822,879
96$14,572,864$2,036,602$896,499$12,947,205
97$15,997,497$2,074,597$864,732$14,184,368
98$17,565,496$2,112,506$829,955$15,545,846
99$19,291,423$2,150,265$792,004$17,044,286
100$21,191,323$2,187,802$750,711$18,693,625