Can I retire at age 66 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$81,671$80,943$80,233$79,541$78,864$77,686
2 years$40,431$39,678$38,948$38,241$37,554$36,370
3 years$26,686$25,930$25,202$24,501$23,826$22,672
4 years$19,815$19,061$18,341$17,652$16,993$15,879
5 years$15,694$14,944$14,233$13,558$12,918$11,846
6 years$12,947$12,203$11,502$10,843$10,221$9,194
7 years$10,986$10,248$9,559$8,914$8,313$7,330
8 years$9,515$8,785$8,106$7,478$6,896$5,957
9 years$8,373$7,649$6,982$6,370$5,808$4,913
10 years$7,459$6,742$6,087$5,491$4,948$4,096
11 years$6,712$6,002$5,359$4,779$4,256$3,446
12 years$6,089$5,387$4,756$4,191$3,688$2,919
13 years$5,563$4,868$4,249$3,700$3,216$2,488
14 years$5,113$4,425$3,818$3,285$2,819$2,130
15 years$4,723$4,042$3,447$2,929$2,482$1,831
16 years$4,382$3,709$3,125$2,623$2,194$1,579
17 years$4,081$3,416$2,844$2,357$1,945$1,365
18 years$3,814$3,156$2,596$2,124$1,730$1,184
19 years$3,576$2,925$2,377$1,919$1,542$1,028
20 years$3,361$2,718$2,181$1,738$1,377$895
21 years$3,168$2,532$2,006$1,577$1,232$780
22 years$2,992$2,363$1,849$1,434$1,104$680
23 years$2,831$2,210$1,707$1,306$991$594
24 years$2,685$2,071$1,579$1,191$891$520
25 years$2,550$1,944$1,462$1,088$802$455
26 years$2,426$1,827$1,356$995$722$398
27 years$2,311$1,719$1,259$911$651$349
28 years$2,204$1,620$1,171$834$588$306
29 years$2,105$1,528$1,090$765$531$268
30 years$2,013$1,443$1,015$702$479$236
31 years$1,927$1,364$946$645$433$207
32 years$1,847$1,291$883$593$392$182
33 years$1,771$1,223$824$545$355$160
34 years$1,700$1,159$770$501$321$140
35 years$1,634$1,099$720$462$291$123
36 years$1,571$1,043$674$425$264$108
37 years$1,511$991$630$392$239$95
38 years$1,455$942$590$361$217$84
39 years$1,402$895$553$333$196$74
40 years$1,352$852$518$307$178$65
41 years$1,304$811$486$283$162$57
42 years$1,259$772$456$261$147$50
43 years$1,216$736$428$241$133$44
44 years$1,175$701$402$223$121$39
45 years$1,136$669$377$206$110$34
46 years$1,099$638$354$190$100$30
47 years$1,063$609$333$176$90$26
48 years$1,029$581$313$162$82$23
49 years$997$555$294$150$75$20
50 years$966$530$276$139$68$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $989,000, adding $2,984 every year, while hoping to spend $39,054 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: 60/14/26 Blend
65$989,000$989,000$989,000$989,000
66$1,092,956$1,040,539$1,025,209$1,150,724
67$1,162,884$1,049,972$1,018,001$1,199,835
68$1,238,636$1,058,559$1,009,242$1,248,930
69$1,320,765$1,066,216$998,839$1,301,667
70$1,409,878$1,072,856$986,695$1,358,407
71$1,506,644$1,078,384$972,708$1,419,553
72$1,611,799$1,082,702$956,771$1,485,546
73$1,726,151$1,085,702$938,771$1,556,877
74$1,850,590$1,087,273$918,591$1,634,085
75$1,986,095$1,087,295$896,109$1,717,768
76$2,133,744$1,085,640$871,197$1,808,585
77$2,294,724$1,082,174$843,719$1,907,265
78$2,470,338$1,076,753$813,536$2,014,612
79$2,662,024$1,069,225$780,501$2,131,514
80$2,871,363$1,059,430$744,460$2,258,951
81$3,100,095$1,047,195$705,253$2,398,007
82$3,350,138$1,032,341$662,712$2,549,878
83$3,623,601$1,014,674$616,662$2,715,883
84$3,922,807$993,992$566,918$2,897,479
85$4,250,314$970,078$513,291$3,096,275
86$4,608,940$942,706$455,580$3,314,046
87$5,001,785$911,632$393,576$3,552,752
88$5,432,267$876,602$327,061$3,814,556
89$5,904,148$837,345$255,807$4,101,845
90$6,421,571$793,575$179,576$4,417,251
91$6,989,100$744,989$98,121$4,763,683
92$7,611,762$691,267$11,181$5,144,348
93$8,295,093$632,070$0$5,562,783
94$9,045,192$567,041$0$6,045,530
95$9,868,777$495,802$0$6,579,042
96$10,773,249$417,952$0$7,165,047
97$11,766,759$333,071$0$7,808,873
98$12,858,288$240,711$0$8,516,391
99$14,057,730$140,402$0$9,294,073
100$15,375,983$31,647$0$10,149,053