Can I retire at age 66 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$81,506$80,780$80,071$79,380$78,705$78,013
2 years$40,349$39,598$38,870$38,163$37,478$36,781
3 years$26,632$25,878$25,151$24,452$23,778$23,097
4 years$19,775$19,023$18,304$17,616$16,959$16,299
5 years$15,662$14,914$14,204$13,531$12,892$12,256
6 years$12,921$12,178$11,479$10,821$10,201$9,589
7 years$10,963$10,227$9,539$8,896$8,296$7,709
8 years$9,496$8,767$8,090$7,463$6,882$6,320
9 years$8,356$7,633$6,968$6,357$5,796$5,258
10 years$7,444$6,728$6,075$5,480$4,938$4,424
11 years$6,698$5,990$5,348$4,769$4,247$3,756
12 years$6,077$5,376$4,746$4,183$3,680$3,213
13 years$5,552$4,858$4,241$3,693$3,209$2,765
14 years$5,102$4,416$3,810$3,278$2,813$2,391
15 years$4,713$4,034$3,440$2,924$2,477$2,076
16 years$4,373$3,701$3,119$2,618$2,189$1,809
17 years$4,073$3,409$2,838$2,352$1,941$1,581
18 years$3,806$3,150$2,591$2,120$1,726$1,385
19 years$3,568$2,919$2,372$1,915$1,538$1,216
20 years$3,355$2,713$2,177$1,735$1,374$1,070
21 years$3,161$2,527$2,002$1,574$1,230$943
22 years$2,986$2,359$1,845$1,431$1,102$832
23 years$2,826$2,206$1,704$1,304$989$736
24 years$2,679$2,067$1,576$1,189$889$651
25 years$2,545$1,940$1,459$1,086$800$576
26 years$2,421$1,823$1,354$993$721$511
27 years$2,306$1,716$1,257$909$650$453
28 years$2,200$1,617$1,168$833$586$402
29 years$2,101$1,525$1,087$764$530$357
30 years$2,009$1,440$1,013$701$478$317
31 years$1,923$1,362$944$644$433$282
32 years$1,843$1,288$881$591$391$251
33 years$1,768$1,220$823$544$354$223
34 years$1,697$1,156$769$500$321$198
35 years$1,630$1,097$719$461$290$177
36 years$1,568$1,041$672$424$263$157
37 years$1,508$989$629$391$238$140
38 years$1,452$940$589$360$216$125
39 years$1,400$893$552$332$196$111
40 years$1,349$850$517$306$178$99
41 years$1,302$809$485$283$161$88
42 years$1,257$771$455$261$146$79
43 years$1,214$734$427$241$133$70
44 years$1,173$700$401$222$121$62
45 years$1,134$667$376$205$109$56
46 years$1,097$637$354$190$99$50
47 years$1,061$608$332$175$90$44
48 years$1,027$580$312$162$82$39
49 years$995$554$293$150$74$35
50 years$964$529$276$138$68$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $987,000, adding $6,598 every year, while hoping to spend $59,063 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: 80/8/12 Blend
65$987,000$987,000$987,000$987,000
66$1,094,480$1,042,169$1,026,870$1,179,095
67$1,143,274$1,030,393$998,428$1,223,833
68$1,195,066$1,016,060$967,053$1,264,576
69$1,250,099$998,983$932,585$1,307,568
70$1,308,639$978,962$894,857$1,353,006
71$1,370,977$955,789$853,692$1,401,108
72$1,437,433$929,239$808,907$1,452,114
73$1,508,356$899,076$760,310$1,506,288
74$1,584,128$865,051$707,700$1,563,923
75$1,665,170$826,899$650,869$1,625,339
76$1,751,941$784,341$589,597$1,690,893
77$1,844,946$737,080$523,655$1,760,977
78$1,944,738$684,805$452,805$1,836,021
79$2,051,924$627,183$376,797$1,916,504
80$2,167,171$563,866$295,371$2,002,951
81$2,291,211$494,484$208,254$2,095,943
82$2,424,847$418,647$115,163$2,196,121
83$2,568,962$335,941$15,802$2,304,191
84$2,724,526$245,931$0$2,420,935
85$2,892,603$148,157$0$2,558,765
86$3,074,364$42,133$0$2,709,989
87$3,271,096$0$0$2,873,672
88$3,484,215$0$0$3,057,412
89$3,715,274$0$0$3,260,665
90$3,965,985$0$0$3,481,228
91$4,238,229$0$0$3,720,760
92$4,534,075$0$0$3,981,085
93$4,855,799$0$0$4,264,207
94$5,205,905$0$0$4,572,336
95$5,587,149$0$0$4,907,899
96$6,002,562$0$0$5,273,568
97$6,455,481$0$0$5,672,286
98$6,949,578$0$0$6,107,288
99$7,488,896$0$0$6,582,137
100$8,077,884$0$0$7,100,757