Can I retire at age 66 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$82,331$81,598$80,882$80,184$79,502$79,067
2 years$40,758$39,999$39,263$38,550$37,858$37,420
3 years$26,902$26,140$25,406$24,699$24,019$23,590
4 years$19,976$19,216$18,489$17,795$17,130$16,714
5 years$15,821$15,065$14,348$13,668$13,022$12,620
6 years$13,052$12,302$11,596$10,930$10,304$9,917
7 years$11,075$10,331$9,636$8,986$8,380$8,008
8 years$9,592$8,856$8,172$7,538$6,952$6,595
9 years$8,440$7,710$7,039$6,421$5,855$5,512
10 years$7,519$6,796$6,136$5,535$4,988$4,660
11 years$6,766$6,050$5,402$4,817$4,290$3,977
12 years$6,139$5,431$4,794$4,225$3,718$3,418
13 years$5,608$4,908$4,284$3,730$3,242$2,957
14 years$5,154$4,461$3,849$3,311$2,842$2,570
15 years$4,761$4,075$3,475$2,953$2,502$2,244
16 years$4,417$3,739$3,151$2,644$2,211$1,966
17 years$4,114$3,443$2,867$2,376$1,961$1,728
18 years$3,845$3,182$2,617$2,141$1,744$1,522
19 years$3,605$2,949$2,396$1,935$1,554$1,344
20 years$3,388$2,740$2,199$1,752$1,388$1,190
21 years$3,193$2,552$2,022$1,590$1,242$1,055
22 years$3,016$2,383$1,864$1,446$1,113$936
23 years$2,854$2,228$1,721$1,317$999$832
24 years$2,706$2,088$1,592$1,201$898$741
25 years$2,570$1,959$1,474$1,097$808$660
26 years$2,445$1,841$1,367$1,003$728$589
27 years$2,329$1,733$1,270$918$657$525
28 years$2,222$1,633$1,180$841$592$469
29 years$2,122$1,541$1,098$771$535$419
30 years$2,029$1,455$1,023$708$483$375
31 years$1,943$1,375$954$650$437$336
32 years$1,862$1,301$890$597$395$300
33 years$1,785$1,232$831$549$358$269
34 years$1,714$1,168$776$505$324$241
35 years$1,647$1,108$726$465$293$216
36 years$1,583$1,052$679$429$266$193
37 years$1,524$999$636$395$241$173
38 years$1,467$949$595$364$218$156
39 years$1,414$903$558$336$198$139
40 years$1,363$859$523$310$180$125
41 years$1,315$817$490$286$163$112
42 years$1,269$778$460$264$148$101
43 years$1,226$742$431$243$134$90
44 years$1,185$707$405$225$122$81
45 years$1,145$674$380$207$111$73
46 years$1,108$643$357$192$100$65
47 years$1,072$614$335$177$91$59
48 years$1,038$586$315$164$83$53
49 years$1,005$560$296$151$75$47
50 years$973$534$279$140$68$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $997,000, adding $6,312 every year, while hoping to spend $32,543 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: 49/23/28 Blend
65$997,000$997,000$997,000$997,000
66$1,105,205$1,052,364$1,036,910$1,150,294
67$1,183,310$1,069,304$1,037,021$1,199,494
68$1,268,292$1,085,984$1,036,045$1,249,201
69$1,360,816$1,102,356$1,033,912$1,302,574
70$1,461,618$1,118,369$1,030,546$1,359,977
71$1,571,504$1,133,971$1,025,870$1,421,809
72$1,691,364$1,149,102$1,019,803$1,488,513
73$1,822,175$1,163,700$1,012,260$1,560,578
74$1,965,016$1,177,701$1,003,149$1,638,543
75$2,121,072$1,191,032$992,379$1,723,005
76$2,291,647$1,203,618$979,849$1,814,622
77$2,478,179$1,215,380$965,458$1,914,121
78$2,682,250$1,226,230$949,098$2,022,304
79$2,905,602$1,236,078$930,655$2,140,057
80$3,150,154$1,244,826$910,012$2,268,359
81$3,418,018$1,252,371$887,046$2,408,289
82$3,711,520$1,258,601$861,626$2,561,040
83$4,033,222$1,263,400$833,618$2,727,929
84$4,385,946$1,266,642$802,880$2,910,407
85$4,772,801$1,268,195$769,264$3,110,078
86$5,197,208$1,267,919$732,616$3,328,712
87$5,662,939$1,265,662$692,774$3,568,263
88$6,174,146$1,261,267$649,570$3,830,885
89$6,735,405$1,254,565$602,826$4,118,957
90$7,351,753$1,245,376$552,358$4,435,104
91$8,028,744$1,233,511$497,974$4,782,222
92$8,772,492$1,218,769$439,472$5,163,507
93$9,589,733$1,200,936$376,641$5,582,484
94$10,487,891$1,179,786$309,263$6,043,043
95$11,475,140$1,155,081$237,108$6,549,475
96$12,560,490$1,126,565$159,937$7,106,514
97$13,753,864$1,093,971$77,499$7,719,382
98$15,066,197$1,057,015$0$8,393,839
99$16,509,535$1,015,394$0$9,139,369
100$18,097,152$968,792$0$9,984,762