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%18.2%
1 years$82,331$81,598$80,882$80,184$79,502$76,865
2 years$40,758$39,999$39,263$38,550$37,858$35,227
3 years$26,902$26,140$25,406$24,699$24,019$21,476
4 years$19,976$19,216$18,489$17,795$17,130$14,695
5 years$15,821$15,065$14,348$13,668$13,022$10,702
6 years$13,052$12,302$11,596$10,930$10,304$8,100
7 years$11,075$10,331$9,636$8,986$8,380$6,292
8 years$9,592$8,856$8,172$7,538$6,952$4,978
9 years$8,440$7,710$7,039$6,421$5,855$3,993
10 years$7,519$6,796$6,136$5,535$4,988$3,236
11 years$6,766$6,050$5,402$4,817$4,290$2,643
12 years$6,139$5,431$4,794$4,225$3,718$2,173
13 years$5,608$4,908$4,284$3,730$3,242$1,796
14 years$5,154$4,461$3,849$3,311$2,842$1,490
15 years$4,761$4,075$3,475$2,953$2,502$1,240
16 years$4,417$3,739$3,151$2,644$2,211$1,035
17 years$4,114$3,443$2,867$2,376$1,961$866
18 years$3,845$3,182$2,617$2,141$1,744$726
19 years$3,605$2,949$2,396$1,935$1,554$609
20 years$3,388$2,740$2,199$1,752$1,388$512
21 years$3,193$2,552$2,022$1,590$1,242$431
22 years$3,016$2,383$1,864$1,446$1,113$363
23 years$2,854$2,228$1,721$1,317$999$305
24 years$2,706$2,088$1,592$1,201$898$258
25 years$2,570$1,959$1,474$1,097$808$217
26 years$2,445$1,841$1,367$1,003$728$183
27 years$2,329$1,733$1,270$918$657$155
28 years$2,222$1,633$1,180$841$592$131
29 years$2,122$1,541$1,098$771$535$110
30 years$2,029$1,455$1,023$708$483$93
31 years$1,943$1,375$954$650$437$79
32 years$1,862$1,301$890$597$395$67
33 years$1,785$1,232$831$549$358$56
34 years$1,714$1,168$776$505$324$48
35 years$1,647$1,108$726$465$293$40
36 years$1,583$1,052$679$429$266$34
37 years$1,524$999$636$395$241$29
38 years$1,467$949$595$364$218$24
39 years$1,414$903$558$336$198$21
40 years$1,363$859$523$310$180$17
41 years$1,315$817$490$286$163$15
42 years$1,269$778$460$264$148$12
43 years$1,226$742$431$243$134$11
44 years$1,185$707$405$225$122$9
45 years$1,145$674$380$207$111$8
46 years$1,108$643$357$192$100$6
47 years$1,072$614$335$177$91$5
48 years$1,038$586$315$164$83$5
49 years$1,005$560$296$151$75$4
50 years$973$534$279$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $997,000, adding $3,128 every year, while hoping to spend $51,948 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: 48/23/29 Blend
65$997,000$997,000$997,000$997,000
66$1,101,921$1,049,080$1,033,626$1,145,551
67$1,159,044$1,045,212$1,012,980$1,172,738
68$1,220,253$1,039,414$989,902$1,196,921
69$1,285,910$1,031,536$964,254$1,222,188
70$1,356,411$1,021,420$935,895$1,248,670
71$1,432,192$1,008,897$904,675$1,276,510
72$1,513,732$993,789$870,438$1,305,873
73$1,601,556$975,908$833,021$1,336,942
74$1,696,241$955,053$792,253$1,369,923
75$1,798,420$931,014$747,956$1,405,047
76$1,908,791$903,565$699,944$1,442,572
77$2,028,117$872,470$648,022$1,482,787
78$2,157,241$837,476$591,987$1,526,017
79$2,297,086$798,319$531,625$1,572,622
80$2,448,669$754,718$466,715$1,623,006
81$2,613,109$706,374$397,025$1,677,619
82$2,791,633$652,973$322,312$1,736,963
83$2,985,594$594,184$242,325$1,801,597
84$3,196,480$529,654$156,798$1,872,144
85$3,425,926$459,012$65,455$1,949,298
86$3,675,733$381,866$0$2,033,830
87$3,947,882$297,802$0$2,136,507
88$4,244,552$206,380$0$2,270,633
89$4,568,144$107,140$0$2,417,089
90$4,921,297$0$0$2,577,153
91$5,306,918$0$0$2,752,342
92$5,728,208$0$0$2,973,461
93$6,188,690$0$0$3,215,256
94$6,692,240$0$0$3,479,777
95$7,243,130$0$0$3,769,282
96$7,846,062$0$0$4,086,254
97$8,506,214$0$0$4,433,432
98$9,229,286$0$0$4,813,828
99$10,021,557$0$0$5,230,764
100$10,889,943$0$0$5,687,893