Can I retire at age 66 with 997,000?

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 $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%11.4%
1 years$82,331$81,598$80,882$80,184$79,502$79,034
2 years$40,758$39,999$39,263$38,550$37,858$37,386
3 years$26,902$26,140$25,406$24,699$24,019$23,557
4 years$19,976$19,216$18,489$17,795$17,130$16,683
5 years$15,821$15,065$14,348$13,668$13,022$12,590
6 years$13,052$12,302$11,596$10,930$10,304$9,888
7 years$11,075$10,331$9,636$8,986$8,380$7,980
8 years$9,592$8,856$8,172$7,538$6,952$6,568
9 years$8,440$7,710$7,039$6,421$5,855$5,486
10 years$7,519$6,796$6,136$5,535$4,988$4,636
11 years$6,766$6,050$5,402$4,817$4,290$3,954
12 years$6,139$5,431$4,794$4,225$3,718$3,396
13 years$5,608$4,908$4,284$3,730$3,242$2,936
14 years$5,154$4,461$3,849$3,311$2,842$2,550
15 years$4,761$4,075$3,475$2,953$2,502$2,225
16 years$4,417$3,739$3,151$2,644$2,211$1,948
17 years$4,114$3,443$2,867$2,376$1,961$1,711
18 years$3,845$3,182$2,617$2,141$1,744$1,506
19 years$3,605$2,949$2,396$1,935$1,554$1,329
20 years$3,388$2,740$2,199$1,752$1,388$1,176
21 years$3,193$2,552$2,022$1,590$1,242$1,041
22 years$3,016$2,383$1,864$1,446$1,113$924
23 years$2,854$2,228$1,721$1,317$999$821
24 years$2,706$2,088$1,592$1,201$898$730
25 years$2,570$1,959$1,474$1,097$808$650
26 years$2,445$1,841$1,367$1,003$728$579
27 years$2,329$1,733$1,270$918$657$516
28 years$2,222$1,633$1,180$841$592$461
29 years$2,122$1,541$1,098$771$535$412
30 years$2,029$1,455$1,023$708$483$368
31 years$1,943$1,375$954$650$437$329
32 years$1,862$1,301$890$597$395$294
33 years$1,785$1,232$831$549$358$263
34 years$1,714$1,168$776$505$324$235
35 years$1,647$1,108$726$465$293$211
36 years$1,583$1,052$679$429$266$189
37 years$1,524$999$636$395$241$169
38 years$1,467$949$595$364$218$151
39 years$1,414$903$558$336$198$136
40 years$1,363$859$523$310$180$122
41 years$1,315$817$490$286$163$109
42 years$1,269$778$460$264$148$98
43 years$1,226$742$431$243$134$88
44 years$1,185$707$405$225$122$79
45 years$1,145$674$380$207$111$71
46 years$1,108$643$357$192$100$63
47 years$1,072$614$335$177$91$57
48 years$1,038$586$315$164$83$51
49 years$1,005$560$296$151$75$46
50 years$973$534$279$140$68$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $997,000, adding $5,729 every year, while hoping to spend $31,927 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: 53/36/11 Blend
65$997,000$997,000$997,000$997,000
66$1,104,603$1,051,762$1,036,309$1,159,710
67$1,183,303$1,069,329$1,037,055$1,215,400
68$1,268,960$1,086,686$1,036,756$1,272,030
69$1,362,250$1,103,789$1,035,344$1,332,898
70$1,463,917$1,120,593$1,032,745$1,398,414
71$1,574,779$1,137,045$1,028,886$1,469,027
72$1,695,739$1,153,092$1,023,685$1,545,235
73$1,827,786$1,168,676$1,017,061$1,627,585
74$1,972,014$1,183,734$1,008,926$1,716,681
75$2,129,623$1,198,201$999,188$1,813,191
76$2,301,937$1,212,005$987,754$1,917,849
77$2,490,412$1,225,071$974,521$2,031,467
78$2,696,653$1,237,318$959,386$2,154,938
79$2,922,425$1,248,660$942,239$2,289,250
80$3,169,674$1,259,006$922,965$2,435,490
81$3,440,540$1,268,257$901,444$2,594,860
82$3,737,383$1,276,309$877,551$2,768,683
83$4,062,800$1,283,052$851,152$2,958,420
84$4,419,652$1,288,368$822,112$3,165,681
85$4,811,089$1,292,131$790,286$3,392,244
86$5,240,584$1,294,209$755,524$3,640,068
87$5,711,958$1,294,459$717,668$3,911,315
88$6,229,422$1,292,733$676,555$4,208,370
89$6,797,615$1,288,869$632,012$4,533,860
90$7,421,647$1,282,698$583,859$4,890,687
91$8,107,146$1,274,042$531,910$5,282,050
92$8,860,314$1,262,709$475,968$5,711,475
93$9,687,982$1,248,497$415,828$6,182,854
94$10,597,675$1,231,192$351,277$6,700,477
95$11,597,684$1,210,567$282,092$7,269,074
96$12,697,144$1,186,382$208,038$7,893,865
97$13,906,119$1,158,381$128,874$8,580,603
98$15,235,696$1,126,294$44,344$9,335,634
99$16,698,092$1,089,837$0$10,165,954
100$18,306,765$1,048,706$0$11,084,662