Can I retire at age 66 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$81,918$81,189$80,477$79,782$79,103$77,889
2 years$40,554$39,798$39,066$38,357$37,668$36,448
3 years$26,767$26,009$25,279$24,576$23,898$22,710
4 years$19,875$19,119$18,396$17,705$17,044$15,897
5 years$15,741$14,990$14,276$13,599$12,957$11,854
6 years$12,986$12,240$11,537$10,876$10,252$9,195
7 years$11,019$10,279$9,588$8,941$8,338$7,326
8 years$9,544$8,811$8,131$7,501$6,917$5,951
9 years$8,398$7,672$7,003$6,389$5,825$4,904
10 years$7,481$6,762$6,106$5,507$4,963$4,087
11 years$6,732$6,020$5,375$4,793$4,269$3,436
12 years$6,108$5,403$4,770$4,204$3,699$2,909
13 years$5,580$4,883$4,262$3,712$3,226$2,477
14 years$5,128$4,439$3,829$3,295$2,828$2,120
15 years$4,737$4,055$3,458$2,938$2,490$1,821
16 years$4,395$3,720$3,135$2,631$2,200$1,569
17 years$4,093$3,426$2,852$2,364$1,951$1,356
18 years$3,826$3,166$2,604$2,130$1,735$1,175
19 years$3,587$2,934$2,384$1,925$1,546$1,019
20 years$3,371$2,726$2,188$1,743$1,381$886
21 years$3,177$2,540$2,012$1,582$1,236$772
22 years$3,001$2,371$1,855$1,439$1,108$673
23 years$2,840$2,217$1,712$1,310$994$587
24 years$2,693$2,077$1,584$1,195$894$513
25 years$2,558$1,950$1,467$1,091$804$449
26 years$2,433$1,832$1,360$998$725$393
27 years$2,318$1,724$1,263$913$653$344
28 years$2,211$1,625$1,174$837$589$301
29 years$2,112$1,533$1,093$767$532$264
30 years$2,019$1,448$1,018$704$481$232
31 years$1,933$1,368$949$647$435$203
32 years$1,852$1,295$885$594$393$178
33 years$1,777$1,226$827$547$356$156
34 years$1,705$1,162$772$503$322$137
35 years$1,639$1,102$722$463$292$121
36 years$1,576$1,046$676$426$264$106
37 years$1,516$994$632$393$240$93
38 years$1,460$944$592$362$217$82
39 years$1,407$898$555$334$197$72
40 years$1,356$854$520$308$179$63
41 years$1,308$813$488$284$162$55
42 years$1,263$775$457$262$147$49
43 years$1,220$738$429$242$134$43
44 years$1,179$703$403$224$121$38
45 years$1,139$671$378$206$110$33
46 years$1,102$640$355$191$100$29
47 years$1,066$611$334$176$91$26
48 years$1,032$583$314$163$82$23
49 years$1,000$557$295$150$75$20
50 years$969$532$277$139$68$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $992,000, adding $4,301 every year, while hoping to spend $39,478 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: 58/15/27 Blend
65$992,000$992,000$992,000$992,000
66$1,097,620$1,045,044$1,029,668$1,152,981
67$1,167,573$1,054,247$1,022,158$1,200,554
68$1,243,339$1,062,578$1,013,073$1,247,855
69$1,325,467$1,069,952$1,002,319$1,298,611
70$1,414,564$1,076,280$989,796$1,353,166
71$1,511,298$1,081,465$975,402$1,411,904
72$1,616,400$1,085,407$959,028$1,475,245
73$1,730,678$1,087,997$940,560$1,543,658
74$1,855,018$1,089,120$919,880$1,617,657
75$1,990,397$1,088,654$896,863$1,697,814
76$2,137,889$1,086,469$871,380$1,784,759
77$2,298,676$1,082,428$843,293$1,879,186
78$2,474,059$1,076,385$812,462$1,981,866
79$2,665,470$1,068,185$778,736$2,093,647
80$2,874,485$1,057,663$741,961$2,215,469
81$3,102,839$1,044,646$701,974$2,348,367
82$3,352,443$1,028,948$658,604$2,493,486
83$3,625,400$1,010,374$611,675$2,652,091
84$3,924,025$988,717$561,000$2,825,576
85$4,250,868$963,757$506,387$3,015,483
86$4,608,737$935,261$447,631$3,223,514
87$5,000,724$902,984$384,522$3,451,547
88$5,430,232$866,665$316,838$3,701,656
89$5,901,013$826,028$244,349$3,976,130
90$6,417,195$780,783$166,814$4,277,496
91$6,983,328$730,621$83,981$4,608,542
92$7,604,422$675,215$0$4,972,347
93$8,285,993$614,221$0$5,373,579
94$9,034,122$547,275$0$5,840,616
95$9,855,503$473,992$0$6,353,457
96$10,757,512$393,965$0$6,916,751
97$11,748,273$306,764$0$7,535,623
98$12,836,736$211,936$0$8,215,721
99$14,032,763$109,000$0$8,963,272
100$15,347,214$0$0$9,785,138