Can I retire at age 66 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$81,836$81,107$80,396$79,702$79,024$77,619
2 years$40,513$39,758$39,027$38,318$37,630$36,220
3 years$26,740$25,982$25,253$24,551$23,874$22,502
4 years$19,855$19,100$18,378$17,687$17,027$15,704
5 years$15,725$14,975$14,262$13,586$12,944$11,673
6 years$12,973$12,228$11,526$10,865$10,242$9,025
7 years$11,008$10,269$9,578$8,932$8,330$7,167
8 years$9,535$8,802$8,123$7,493$6,910$5,802
9 years$8,389$7,664$6,996$6,382$5,819$4,764
10 years$7,474$6,755$6,099$5,502$4,958$3,956
11 years$6,725$6,014$5,370$4,788$4,264$3,313
12 years$6,102$5,398$4,766$4,200$3,695$2,794
13 years$5,575$4,878$4,258$3,708$3,222$2,370
14 years$5,123$4,434$3,826$3,291$2,825$2,020
15 years$4,732$4,051$3,454$2,935$2,487$1,728
16 years$4,391$3,716$3,132$2,628$2,198$1,483
17 years$4,089$3,423$2,850$2,362$1,949$1,276
18 years$3,822$3,163$2,601$2,128$1,733$1,100
19 years$3,583$2,931$2,381$1,923$1,545$951
20 years$3,368$2,724$2,186$1,742$1,380$823
21 years$3,174$2,537$2,010$1,581$1,235$713
22 years$2,998$2,368$1,853$1,437$1,107$619
23 years$2,837$2,215$1,711$1,309$993$538
24 years$2,690$2,075$1,582$1,194$893$468
25 years$2,555$1,948$1,465$1,090$804$407
26 years$2,430$1,830$1,359$997$724$355
27 years$2,315$1,723$1,262$912$653$309
28 years$2,209$1,623$1,173$836$589$269
29 years$2,110$1,531$1,092$767$532$235
30 years$2,017$1,446$1,017$704$480$205
31 years$1,931$1,367$948$646$434$179
32 years$1,850$1,294$885$594$393$156
33 years$1,775$1,225$826$546$356$136
34 years$1,704$1,161$772$502$322$119
35 years$1,637$1,101$721$463$292$104
36 years$1,574$1,045$675$426$264$91
37 years$1,515$993$632$392$239$80
38 years$1,458$943$592$362$217$70
39 years$1,405$897$554$334$197$61
40 years$1,355$854$519$308$179$53
41 years$1,307$812$487$284$162$46
42 years$1,262$774$457$262$147$41
43 years$1,219$737$429$242$133$36
44 years$1,177$703$402$223$121$31
45 years$1,138$670$378$206$110$27
46 years$1,101$639$355$190$100$24
47 years$1,065$610$333$176$91$21
48 years$1,031$582$313$163$82$18
49 years$999$556$295$150$75$16
50 years$968$531$277$139$68$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $991,000, adding $5,653 every year, while hoping to spend $38,478 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: 46/31/23 Blend
65$991,000$991,000$991,000$991,000
66$1,097,913$1,045,390$1,030,030$1,140,941
67$1,168,960$1,055,674$1,023,595$1,182,036
68$1,245,964$1,065,172$1,015,656$1,222,362
69$1,329,492$1,073,805$1,006,120$1,265,338
70$1,420,168$1,081,489$994,893$1,311,229
71$1,518,677$1,088,135$981,874$1,360,331
72$1,625,775$1,093,646$966,959$1,412,969
73$1,742,290$1,097,921$950,039$1,469,507
74$1,869,137$1,100,852$930,998$1,530,343
75$2,007,320$1,102,324$909,717$1,595,923
76$2,157,944$1,102,216$886,071$1,666,737
77$2,322,228$1,100,398$859,927$1,743,329
78$2,501,510$1,096,732$831,150$1,826,300
79$2,697,264$1,091,073$799,594$1,916,318
80$2,911,115$1,083,265$765,110$2,014,117
81$3,144,848$1,073,144$727,540$2,120,515
82$3,400,431$1,060,537$686,722$2,236,411
83$3,680,031$1,045,259$642,482$2,362,805
84$3,986,031$1,027,113$594,642$2,500,798
85$4,321,058$1,005,894$543,015$2,651,610
86$4,688,004$981,381$487,404$2,816,589
87$5,090,054$953,342$427,606$2,997,226
88$5,530,715$921,532$363,406$3,195,169
89$6,013,850$885,689$294,582$3,412,236
90$6,543,713$845,538$220,901$3,650,442
91$7,124,991$800,788$142,120$3,912,008
92$7,762,844$751,131$57,985$4,199,391
93$8,462,958$696,240$0$4,515,303
94$9,231,595$635,771$0$4,870,547
95$10,075,654$569,360$0$5,276,321
96$11,002,733$496,622$0$5,722,106
97$12,021,205$417,149$0$6,212,014
98$13,140,291$330,512$0$6,750,578
99$14,370,150$236,257$0$7,342,801
100$15,721,976$133,904$0$7,994,201