Can I retire at age 66 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$82,414$81,680$80,964$80,265$79,582$77,658
2 years$40,799$40,039$39,303$38,589$37,896$35,969
3 years$26,929$26,166$25,431$24,724$24,043$22,174
4 years$19,996$19,235$18,508$17,812$17,148$15,350
5 years$15,837$15,080$14,363$13,682$13,035$11,315
6 years$13,065$12,314$11,607$10,941$10,314$8,672
7 years$11,086$10,341$9,646$8,995$8,388$6,825
8 years$9,602$8,865$8,180$7,546$6,959$5,474
9 years$8,449$7,718$7,046$6,428$5,860$4,452
10 years$7,527$6,803$6,143$5,541$4,993$3,660
11 years$6,773$6,056$5,408$4,822$4,294$3,035
12 years$6,145$5,436$4,799$4,230$3,722$2,533
13 years$5,614$4,913$4,288$3,734$3,245$2,126
14 years$5,159$4,465$3,853$3,315$2,845$1,792
15 years$4,766$4,079$3,478$2,956$2,505$1,516
16 years$4,422$3,743$3,154$2,647$2,214$1,286
17 years$4,118$3,447$2,870$2,378$1,963$1,094
18 years$3,849$3,185$2,620$2,143$1,745$933
19 years$3,608$2,952$2,398$1,937$1,556$796
20 years$3,392$2,743$2,201$1,754$1,389$681
21 years$3,196$2,555$2,024$1,592$1,243$583
22 years$3,019$2,385$1,866$1,447$1,115$500
23 years$2,857$2,231$1,723$1,318$1,000$429
24 years$2,709$2,090$1,593$1,202$899$368
25 years$2,573$1,961$1,476$1,098$809$317
26 years$2,448$1,843$1,369$1,004$729$272
27 years$2,332$1,735$1,271$919$657$234
28 years$2,224$1,635$1,181$842$593$202
29 years$2,124$1,542$1,099$772$535$173
30 years$2,031$1,456$1,024$709$484$149
31 years$1,945$1,377$955$651$437$129
32 years$1,863$1,303$891$598$396$111
33 years$1,787$1,234$832$550$358$96
34 years$1,716$1,169$777$506$324$82
35 years$1,648$1,109$727$466$294$71
36 years$1,585$1,053$680$429$266$61
37 years$1,525$1,000$636$395$241$53
38 years$1,469$950$596$364$219$45
39 years$1,415$903$558$336$198$39
40 years$1,364$860$523$310$180$34
41 years$1,316$818$491$286$163$29
42 years$1,271$779$460$264$148$25
43 years$1,227$742$432$244$134$22
44 years$1,186$708$405$225$122$19
45 years$1,146$675$381$208$111$16
46 years$1,109$644$357$192$101$14
47 years$1,073$614$336$177$91$12
48 years$1,039$587$316$164$83$10
49 years$1,006$560$297$151$75$9
50 years$974$535$279$140$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $998,000, adding $4,423 every year, while hoping to spend $36,827 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: 36/40/24 Blend
65$998,000$998,000$998,000$998,000
66$1,104,358$1,051,464$1,035,995$1,135,990
67$1,177,819$1,063,802$1,031,518$1,172,015
68$1,257,539$1,075,511$1,025,655$1,207,180
69$1,344,117$1,086,520$1,018,324$1,244,410
70$1,438,212$1,096,755$1,009,433$1,283,914
71$1,540,551$1,106,137$998,890$1,325,922
72$1,651,931$1,114,581$986,597$1,370,693
73$1,773,230$1,121,998$972,450$1,418,510
74$1,905,415$1,128,292$956,343$1,469,692
75$2,049,550$1,133,360$938,162$1,524,589
76$2,206,804$1,137,095$917,791$1,583,591
77$2,378,467$1,139,381$895,106$1,647,130
78$2,565,956$1,140,096$869,977$1,715,687
79$2,770,832$1,139,110$842,271$1,789,791
80$2,994,816$1,136,285$811,845$1,870,033
81$3,239,798$1,131,474$778,553$1,957,065
82$3,507,864$1,124,523$742,241$2,051,611
83$3,801,306$1,115,265$702,747$2,154,471
84$4,122,653$1,103,526$659,902$2,266,533
85$4,474,685$1,089,121$613,530$2,388,780
86$4,860,468$1,071,853$563,449$2,522,298
87$5,283,376$1,051,513$509,464$2,668,293
88$5,747,125$1,027,882$451,376$2,828,095
89$6,255,809$1,000,726$388,975$3,003,180
90$6,813,937$969,797$322,041$3,195,178
91$7,426,476$934,834$250,346$3,405,892
92$8,098,895$895,559$173,651$3,637,318
93$8,837,220$851,680$91,706$3,891,662
94$9,648,090$802,886$4,252$4,171,362
95$10,538,818$748,850$0$4,479,116
96$11,517,458$689,224$0$4,840,713
97$12,592,886$623,643$0$5,239,281
98$13,774,877$551,719$0$5,677,446
99$15,074,204$473,042$0$6,159,310
100$16,502,732$387,180$0$6,689,396