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%13.9%
1 years$81,918$81,189$80,477$79,782$79,103$77,825
2 years$40,554$39,798$39,066$38,357$37,668$36,384
3 years$26,767$26,009$25,279$24,576$23,898$22,648
4 years$19,875$19,119$18,396$17,705$17,044$15,838
5 years$15,741$14,990$14,276$13,599$12,957$11,797
6 years$12,986$12,240$11,537$10,876$10,252$9,141
7 years$11,019$10,279$9,588$8,941$8,338$7,275
8 years$9,544$8,811$8,131$7,501$6,917$5,903
9 years$8,398$7,672$7,003$6,389$5,825$4,859
10 years$7,481$6,762$6,106$5,507$4,963$4,044
11 years$6,732$6,020$5,375$4,793$4,269$3,396
12 years$6,108$5,403$4,770$4,204$3,699$2,871
13 years$5,580$4,883$4,262$3,712$3,226$2,442
14 years$5,128$4,439$3,829$3,295$2,828$2,086
15 years$4,737$4,055$3,458$2,938$2,490$1,790
16 years$4,395$3,720$3,135$2,631$2,200$1,540
17 years$4,093$3,426$2,852$2,364$1,951$1,329
18 years$3,826$3,166$2,604$2,130$1,735$1,150
19 years$3,587$2,934$2,384$1,925$1,546$996
20 years$3,371$2,726$2,188$1,743$1,381$865
21 years$3,177$2,540$2,012$1,582$1,236$752
22 years$3,001$2,371$1,855$1,439$1,108$655
23 years$2,840$2,217$1,712$1,310$994$571
24 years$2,693$2,077$1,584$1,195$894$498
25 years$2,558$1,950$1,467$1,091$804$435
26 years$2,433$1,832$1,360$998$725$380
27 years$2,318$1,724$1,263$913$653$332
28 years$2,211$1,625$1,174$837$589$290
29 years$2,112$1,533$1,093$767$532$254
30 years$2,019$1,448$1,018$704$481$222
31 years$1,933$1,368$949$647$435$195
32 years$1,852$1,295$885$594$393$171
33 years$1,777$1,226$827$547$356$150
34 years$1,705$1,162$772$503$322$131
35 years$1,639$1,102$722$463$292$115
36 years$1,576$1,046$676$426$264$101
37 years$1,516$994$632$393$240$88
38 years$1,460$944$592$362$217$78
39 years$1,407$898$555$334$197$68
40 years$1,356$854$520$308$179$60
41 years$1,308$813$488$284$162$52
42 years$1,263$775$457$262$147$46
43 years$1,220$738$429$242$134$40
44 years$1,179$703$403$224$121$35
45 years$1,139$671$378$206$110$31
46 years$1,102$640$355$191$100$27
47 years$1,066$611$334$176$91$24
48 years$1,032$583$314$163$82$21
49 years$1,000$557$295$150$75$18
50 years$969$532$277$139$68$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $992,000, adding $5,924 every year, while hoping to spend $30,156 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: 74/16/10 Blend
65$992,000$992,000$992,000$992,000
66$1,099,295$1,046,719$1,031,343$1,178,194
67$1,179,337$1,065,922$1,033,807$1,250,255
68$1,266,533$1,085,056$1,035,343$1,324,819
69$1,361,580$1,104,085$1,035,888$1,405,669
70$1,465,247$1,122,970$1,035,376$1,493,417
71$1,578,379$1,141,672$1,033,737$1,588,739
72$1,701,905$1,160,146$1,030,900$1,692,380
73$1,836,852$1,178,345$1,026,787$1,805,157
74$1,984,345$1,196,219$1,021,319$1,927,976
75$2,145,627$1,213,712$1,014,412$2,061,829
76$2,322,064$1,230,768$1,005,978$2,207,813
77$2,515,162$1,247,323$995,925$2,367,136
78$2,726,578$1,263,311$984,158$2,541,128
79$2,958,136$1,278,660$970,575$2,731,255
80$3,211,848$1,293,296$955,070$2,939,132
81$3,489,924$1,307,136$937,534$3,166,540
82$3,794,805$1,320,094$917,849$3,415,440
83$4,129,174$1,332,077$895,896$3,687,993
84$4,495,989$1,342,988$871,547$3,986,582
85$4,898,506$1,352,721$844,671$4,313,831
86$5,340,313$1,361,164$815,127$4,672,633
87$5,825,364$1,368,199$782,772$5,066,176
88$6,358,009$1,373,700$747,454$5,497,974
89$6,943,047$1,377,531$709,014$5,971,899
90$7,585,758$1,379,551$667,286$6,492,217
91$8,291,963$1,379,607$622,098$7,063,631
92$9,068,074$1,377,538$573,269$7,691,325
93$9,921,153$1,373,173$520,609$8,381,009
94$10,858,983$1,366,331$463,922$9,138,980
95$11,890,137$1,356,818$403,000$9,972,174
96$13,024,059$1,344,431$337,629$10,888,239
97$14,271,157$1,328,952$267,584$11,895,601
98$15,642,897$1,310,152$192,630$13,003,547
99$17,151,910$1,287,788$112,521$14,222,313
100$18,812,116$1,261,600$27,001$15,563,181