Can I retire at age 66 with 996,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$82,249$81,516$80,801$80,104$79,422$77,440
2 years$40,717$39,959$39,224$38,511$37,820$35,835
3 years$26,875$26,114$25,380$24,675$23,995$22,069
4 years$19,956$19,196$18,470$17,777$17,113$15,262
5 years$15,805$15,050$14,334$13,654$13,009$11,238
6 years$13,039$12,290$11,584$10,919$10,294$8,604
7 years$11,063$10,321$9,626$8,977$8,372$6,764
8 years$9,583$8,847$8,164$7,531$6,945$5,418
9 years$8,432$7,703$7,032$6,415$5,849$4,402
10 years$7,511$6,790$6,130$5,530$4,983$3,614
11 years$6,759$6,044$5,397$4,812$4,286$2,993
12 years$6,132$5,425$4,790$4,221$3,714$2,495
13 years$5,603$4,903$4,279$3,727$3,239$2,091
14 years$5,149$4,456$3,845$3,308$2,839$1,760
15 years$4,756$4,071$3,471$2,950$2,500$1,487
16 years$4,413$3,735$3,147$2,642$2,209$1,260
17 years$4,110$3,440$2,864$2,373$1,959$1,070
18 years$3,841$3,179$2,614$2,139$1,742$911
19 years$3,601$2,946$2,393$1,933$1,552$777
20 years$3,385$2,737$2,197$1,750$1,387$663
21 years$3,190$2,550$2,020$1,589$1,241$567
22 years$3,013$2,380$1,862$1,444$1,112$485
23 years$2,851$2,226$1,719$1,315$998$416
24 years$2,704$2,086$1,590$1,200$897$356
25 years$2,568$1,957$1,473$1,096$808$306
26 years$2,443$1,840$1,366$1,002$727$263
27 years$2,327$1,731$1,268$917$656$225
28 years$2,220$1,631$1,179$840$592$194
29 years$2,120$1,539$1,097$770$534$167
30 years$2,027$1,453$1,022$707$483$143
31 years$1,941$1,374$953$649$437$123
32 years$1,860$1,300$889$597$395$106
33 years$1,784$1,231$830$549$357$91
34 years$1,712$1,167$776$505$324$78
35 years$1,645$1,107$725$465$293$67
36 years$1,582$1,050$678$428$266$58
37 years$1,522$998$635$394$241$50
38 years$1,466$948$595$364$218$43
39 years$1,412$902$557$335$198$37
40 years$1,362$858$522$309$179$32
41 years$1,314$817$490$285$163$27
42 years$1,268$778$459$263$148$24
43 years$1,225$741$431$243$134$20
44 years$1,183$706$404$224$122$18
45 years$1,144$674$380$207$110$15
46 years$1,107$643$357$191$100$13
47 years$1,071$613$335$177$91$11
48 years$1,036$585$315$163$83$10
49 years$1,004$559$296$151$75$8
50 years$972$534$278$140$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $996,000, adding $3,984 every year, while hoping to spend $52,378 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: 33/46/21 Blend
65$996,000$996,000$996,000$996,000
66$1,101,701$1,048,913$1,033,475$1,130,828
67$1,158,345$1,044,580$1,012,367$1,148,539
68$1,219,011$1,038,280$988,796$1,162,556
69$1,284,054$1,029,859$962,625$1,176,580
70$1,353,864$1,019,159$933,709$1,190,646
71$1,428,868$1,006,007$901,898$1,204,793
72$1,509,534$990,223$867,033$1,219,071
73$1,596,379$971,616$828,951$1,233,539
74$1,689,967$949,983$787,478$1,248,267
75$1,790,920$925,109$742,435$1,263,339
76$1,899,921$896,766$693,634$1,278,852
77$2,017,718$864,713$640,876$1,294,920
78$2,145,138$828,696$583,958$1,311,676
79$2,283,085$788,445$522,663$1,329,272
80$2,432,555$743,675$456,768$1,347,885
81$2,594,645$694,084$386,039$1,367,716
82$2,770,557$639,352$310,230$1,388,996
83$2,961,617$579,144$229,086$1,411,990
84$3,169,282$513,102$142,340$1,436,997
85$3,395,155$440,850$49,714$1,464,358
86$3,640,998$361,989$0$1,494,460
87$3,908,753$276,100$0$1,538,749
88$4,200,555$182,738$0$1,599,312
89$4,518,753$81,434$0$1,665,627
90$4,865,935$0$0$1,738,395
91$5,244,947$0$0$1,832,726
92$5,658,922$0$0$1,980,921
93$6,111,311$0$0$2,143,011
94$6,605,912$0$0$2,320,375
95$7,146,907$0$0$2,514,533
96$7,738,899$0$0$2,727,155
97$8,386,960$0$0$2,960,082
98$9,096,671$0$0$3,215,344
99$9,874,182$0$0$3,495,171
100$10,726,263$0$0$3,802,025