Can I retire at age 66 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$82,084$81,352$80,639$79,943$79,263$78,435
2 years$40,635$39,879$39,145$38,434$37,744$36,911
3 years$26,821$26,061$25,330$24,625$23,947$23,133
4 years$19,915$19,158$18,433$17,741$17,079$16,292
5 years$15,773$15,020$14,305$13,627$12,983$12,224
6 years$13,012$12,265$11,561$10,897$10,273$9,544
7 years$11,041$10,300$9,607$8,959$8,355$7,656
8 years$9,564$8,829$8,147$7,516$6,931$6,262
9 years$8,415$7,687$7,017$6,402$5,837$5,197
10 years$7,496$6,776$6,118$5,518$4,973$4,363
11 years$6,745$6,032$5,386$4,803$4,277$3,695
12 years$6,120$5,414$4,780$4,213$3,707$3,153
13 years$5,591$4,893$4,271$3,719$3,232$2,706
14 years$5,139$4,447$3,837$3,301$2,833$2,334
15 years$4,747$4,063$3,464$2,944$2,495$2,021
16 years$4,404$3,728$3,141$2,636$2,205$1,756
17 years$4,102$3,433$2,858$2,369$1,955$1,530
18 years$3,833$3,172$2,609$2,135$1,738$1,337
19 years$3,594$2,940$2,389$1,929$1,549$1,171
20 years$3,378$2,732$2,192$1,747$1,384$1,027
21 years$3,184$2,545$2,016$1,585$1,238$903
22 years$3,007$2,375$1,858$1,442$1,110$794
23 years$2,846$2,222$1,716$1,313$996$700
24 years$2,698$2,082$1,587$1,197$896$617
25 years$2,563$1,953$1,470$1,094$806$545
26 years$2,438$1,836$1,363$1,000$726$481
27 years$2,322$1,728$1,266$915$655$425
28 years$2,215$1,628$1,177$839$591$376
29 years$2,116$1,536$1,095$769$533$333
30 years$2,023$1,451$1,020$706$482$295
31 years$1,937$1,371$951$648$436$261
32 years$1,856$1,297$887$596$394$232
33 years$1,780$1,229$828$548$357$205
34 years$1,709$1,165$774$504$323$182
35 years$1,642$1,105$724$464$292$162
36 years$1,579$1,048$677$427$265$143
37 years$1,519$996$634$394$240$127
38 years$1,463$946$593$363$218$113
39 years$1,409$900$556$335$197$100
40 years$1,359$856$521$309$179$89
41 years$1,311$815$489$285$162$79
42 years$1,266$776$458$263$147$70
43 years$1,222$739$430$243$134$62
44 years$1,181$705$404$224$121$55
45 years$1,142$672$379$207$110$49
46 years$1,104$641$356$191$100$44
47 years$1,069$612$334$177$91$39
48 years$1,034$584$314$163$83$34
49 years$1,002$558$295$151$75$31
50 years$970$533$278$139$68$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $994,000, adding $4,548 every year, while hoping to spend $52,551 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: 82/7/11 Blend
65$994,000$994,000$994,000$994,000
66$1,100,079$1,047,397$1,031,990$1,187,882
67$1,156,373$1,042,806$1,010,648$1,241,489
68$1,216,648$1,036,228$986,830$1,292,924
69$1,281,255$1,027,511$960,397$1,347,825
70$1,350,577$1,016,494$931,204$1,406,509
71$1,425,037$1,003,003$899,100$1,469,330
72$1,505,098$986,857$863,927$1,536,672
73$1,591,268$967,864$825,519$1,608,965
74$1,684,106$945,818$783,703$1,686,677
75$1,784,226$920,504$738,298$1,770,327
76$1,892,300$891,691$689,114$1,860,485
77$2,009,069$859,139$635,954$1,957,780
78$2,135,348$822,590$578,612$2,062,905
79$2,272,029$781,773$516,871$2,176,625
80$2,420,096$736,400$450,507$2,299,780
81$2,580,631$686,169$379,283$2,433,299
82$2,754,821$630,756$302,955$2,578,204
83$2,943,973$569,824$221,265$2,735,624
84$3,149,527$503,014$133,945$2,906,800
85$3,373,062$429,946$40,717$3,093,102
86$3,616,321$350,219$0$3,296,041
87$3,881,216$263,411$0$3,524,181
88$4,169,856$169,074$0$3,778,005
89$4,484,559$66,736$0$4,054,791
90$4,827,878$0$0$4,356,809
91$5,202,620$0$0$4,689,954
92$5,611,878$0$0$5,059,419
93$6,059,057$0$0$5,463,138
94$6,547,902$0$0$5,904,499
95$7,082,541$0$0$6,387,228
96$7,667,516$0$0$6,915,430
97$8,307,829$0$0$7,493,625
98$9,008,987$0$0$8,126,790
99$9,777,058$0$0$8,820,405
100$10,618,720$0$0$9,580,506