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%15.3%
1 years$82,331$81,598$80,882$80,184$79,502$77,770
2 years$40,758$39,999$39,263$38,550$37,858$36,122
3 years$26,902$26,140$25,406$24,699$24,019$22,332
4 years$19,976$19,216$18,489$17,795$17,130$15,507
5 years$15,821$15,065$14,348$13,668$13,022$11,466
6 years$13,052$12,302$11,596$10,930$10,304$8,817
7 years$11,075$10,331$9,636$8,986$8,380$6,963
8 years$9,592$8,856$8,172$7,538$6,952$5,604
9 years$8,440$7,710$7,039$6,421$5,855$4,574
10 years$7,519$6,796$6,136$5,535$4,988$3,775
11 years$6,766$6,050$5,402$4,817$4,290$3,141
12 years$6,139$5,431$4,794$4,225$3,718$2,632
13 years$5,608$4,908$4,284$3,730$3,242$2,218
14 years$5,154$4,461$3,849$3,311$2,842$1,877
15 years$4,761$4,075$3,475$2,953$2,502$1,595
16 years$4,417$3,739$3,151$2,644$2,211$1,359
17 years$4,114$3,443$2,867$2,376$1,961$1,161
18 years$3,845$3,182$2,617$2,141$1,744$994
19 years$3,605$2,949$2,396$1,935$1,554$853
20 years$3,388$2,740$2,199$1,752$1,388$733
21 years$3,193$2,552$2,022$1,590$1,242$630
22 years$3,016$2,383$1,864$1,446$1,113$543
23 years$2,854$2,228$1,721$1,317$999$468
24 years$2,706$2,088$1,592$1,201$898$404
25 years$2,570$1,959$1,474$1,097$808$349
26 years$2,445$1,841$1,367$1,003$728$301
27 years$2,329$1,733$1,270$918$657$260
28 years$2,222$1,633$1,180$841$592$225
29 years$2,122$1,541$1,098$771$535$195
30 years$2,029$1,455$1,023$708$483$169
31 years$1,943$1,375$954$650$437$146
32 years$1,862$1,301$890$597$395$126
33 years$1,785$1,232$831$549$358$109
34 years$1,714$1,168$776$505$324$95
35 years$1,647$1,108$726$465$293$82
36 years$1,583$1,052$679$429$266$71
37 years$1,524$999$636$395$241$62
38 years$1,467$949$595$364$218$53
39 years$1,414$903$558$336$198$46
40 years$1,363$859$523$310$180$40
41 years$1,315$817$490$286$163$35
42 years$1,269$778$460$264$148$30
43 years$1,226$742$431$243$134$26
44 years$1,185$707$405$225$122$23
45 years$1,145$674$380$207$111$20
46 years$1,108$643$357$192$100$17
47 years$1,072$614$335$177$91$15
48 years$1,038$586$315$164$83$13
49 years$1,005$560$296$151$75$11
50 years$973$534$279$140$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $997,000, adding $3,844 every year, while hoping to spend $25,821 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: 85/5/10 Blend
65$997,000$997,000$997,000$997,000
66$1,102,659$1,049,818$1,034,365$1,194,459
67$1,187,657$1,073,786$1,041,542$1,278,983
68$1,280,459$1,098,063$1,048,095$1,367,942
69$1,381,835$1,122,636$1,053,975$1,464,879
70$1,492,630$1,147,493$1,059,131$1,570,582
71$1,613,776$1,172,618$1,063,510$1,685,918
72$1,746,299$1,197,995$1,067,056$1,811,841
73$1,891,329$1,223,604$1,069,710$1,949,402
74$2,050,110$1,249,426$1,071,410$2,099,758
75$2,224,012$1,275,438$1,072,093$2,264,186
76$2,414,542$1,301,616$1,071,689$2,444,090
77$2,623,362$1,327,932$1,070,127$2,641,016
78$2,852,302$1,354,357$1,067,333$2,856,670
79$3,103,376$1,380,860$1,063,229$3,092,930
80$3,378,804$1,407,406$1,057,731$3,351,864
81$3,681,031$1,433,958$1,050,753$3,635,751
82$4,012,749$1,460,475$1,042,206$3,947,102
83$4,376,924$1,486,913$1,031,995$4,288,684
84$4,776,824$1,513,225$1,020,020$4,663,544
85$5,216,047$1,539,360$1,006,178$5,075,040
86$5,698,558$1,565,263$990,360$5,526,872
87$6,228,726$1,590,876$972,452$6,023,117
88$6,811,361$1,616,134$952,334$6,568,267
89$7,451,766$1,640,971$929,883$7,167,269
90$8,155,780$1,665,312$904,968$7,825,579
91$8,929,836$1,689,079$877,451$8,549,204
92$9,781,025$1,712,190$847,192$9,344,766
93$10,717,156$1,734,553$814,039$10,219,561
94$11,746,835$1,756,075$777,838$11,181,627
95$12,879,541$1,776,651$738,424$12,239,823
96$14,125,720$1,796,174$695,628$13,403,911
97$15,496,883$1,814,525$649,270$14,684,648
98$17,005,710$1,831,582$599,166$16,093,885
99$18,666,174$1,847,211$545,119$17,644,685
100$20,493,670$1,861,271$486,927$19,351,440