Can I retire at age 66 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$81,423$80,698$79,990$79,299$78,625$76,415
2 years$40,308$39,558$38,830$38,125$37,440$35,230
3 years$26,605$25,851$25,126$24,427$23,754$21,613
4 years$19,755$19,004$18,285$17,598$16,941$14,887
5 years$15,646$14,899$14,190$13,517$12,879$10,915
6 years$12,908$12,166$11,468$10,810$10,190$8,321
7 years$10,952$10,217$9,530$8,887$8,288$6,511
8 years$9,487$8,758$8,082$7,455$6,875$5,192
9 years$8,347$7,625$6,961$6,350$5,790$4,197
10 years$7,436$6,721$6,069$5,474$4,933$3,429
11 years$6,691$5,984$5,343$4,764$4,243$2,825
12 years$6,071$5,371$4,742$4,179$3,677$2,343
13 years$5,546$4,853$4,236$3,689$3,206$1,953
14 years$5,097$4,412$3,806$3,275$2,811$1,635
15 years$4,708$4,030$3,437$2,921$2,475$1,373
16 years$4,368$3,698$3,116$2,615$2,187$1,157
17 years$4,069$3,405$2,835$2,350$1,939$977
18 years$3,803$3,147$2,588$2,117$1,724$827
19 years$3,565$2,916$2,369$1,913$1,537$701
20 years$3,351$2,710$2,174$1,733$1,373$595
21 years$3,158$2,524$2,000$1,573$1,228$505
22 years$2,983$2,356$1,843$1,430$1,101$430
23 years$2,823$2,204$1,702$1,302$988$366
24 years$2,676$2,065$1,574$1,188$888$312
25 years$2,542$1,938$1,458$1,085$799$266
26 years$2,418$1,821$1,352$992$720$227
27 years$2,304$1,714$1,256$908$649$193
28 years$2,198$1,615$1,167$832$586$165
29 years$2,099$1,524$1,086$763$529$141
30 years$2,007$1,439$1,012$700$478$120
31 years$1,921$1,360$943$643$432$103
32 years$1,841$1,287$880$591$391$88
33 years$1,766$1,219$822$543$354$75
34 years$1,695$1,155$768$500$320$64
35 years$1,629$1,096$718$460$290$55
36 years$1,566$1,040$672$424$263$47
37 years$1,507$988$629$391$238$40
38 years$1,451$939$589$360$216$34
39 years$1,398$893$551$332$196$29
40 years$1,348$849$517$306$178$25
41 years$1,300$808$485$282$161$21
42 years$1,255$770$455$261$146$18
43 years$1,212$734$427$241$133$16
44 years$1,172$699$400$222$120$13
45 years$1,133$667$376$205$109$11
46 years$1,095$636$353$190$99$10
47 years$1,060$607$332$175$90$8
48 years$1,026$579$312$162$82$7
49 years$994$553$293$150$74$6
50 years$963$529$276$138$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $986,000, adding $6,807 every year, while hoping to spend $51,817 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: 81/14/5 Blend
65$986,000$986,000$986,000$986,000
66$1,093,593$1,041,335$1,026,052$1,181,475
67$1,150,007$1,037,228$1,005,292$1,235,821
68$1,210,438$1,031,183$982,100$1,287,835
69$1,275,242$1,023,050$956,339$1,343,318
70$1,344,808$1,012,670$927,868$1,402,586
71$1,419,563$999,876$896,537$1,465,990
72$1,499,978$984,489$862,190$1,533,915
73$1,586,567$966,320$824,664$1,606,783
74$1,679,896$945,169$783,790$1,685,063
75$1,780,587$920,824$739,388$1,769,268
76$1,889,322$893,060$691,274$1,859,967
77$2,006,853$861,640$639,251$1,957,784
78$2,134,004$826,312$583,118$2,063,408
79$2,271,681$786,810$522,661$2,177,599
80$2,420,882$742,853$457,659$2,301,194
81$2,582,702$694,143$387,881$2,435,115
82$2,758,347$640,365$313,084$2,580,381
83$2,949,142$581,187$233,016$2,738,112
84$3,156,546$516,256$147,414$2,909,545
85$3,382,162$445,202$56,001$3,096,045
86$3,627,756$367,630$0$3,299,113
87$3,895,271$283,127$0$3,522,624
88$4,186,842$191,255$0$3,769,521
89$4,504,823$91,549$0$4,038,846
90$4,851,802$0$0$4,332,837
91$5,230,628$0$0$4,656,501
92$5,644,439$0$0$5,025,485
93$6,096,688$0$0$5,428,766
94$6,591,176$0$0$5,869,738
95$7,132,090$0$0$6,352,138
96$7,724,039$0$0$6,880,079
97$8,372,097$0$0$7,458,090
98$9,081,854$0$0$8,091,160
99$9,859,463$0$0$8,784,783
100$10,711,704$0$0$9,545,006