Can I retire at age 66 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$73,991$73,332$72,689$72,061$71,448$70,761
2 years$36,629$35,947$35,286$34,645$34,023$33,331
3 years$24,177$23,492$22,832$22,197$21,586$20,910
4 years$17,952$17,269$16,616$15,992$15,395$14,741
5 years$14,218$13,539$12,895$12,283$11,703$11,072
6 years$11,729$11,056$10,421$9,823$9,260$8,654
7 years$9,953$9,285$8,660$8,076$7,531$6,949
8 years$8,621$7,959$7,344$6,775$6,248$5,690
9 years$7,585$6,929$6,326$5,771$5,261$4,729
10 years$6,757$6,108$5,515$4,974$4,483$3,974
11 years$6,080$5,437$4,855$4,329$3,856$3,370
12 years$5,517$4,880$4,309$3,797$3,341$2,879
13 years$5,040$4,410$3,850$3,352$2,914$2,474
14 years$4,632$4,009$3,459$2,976$2,554$2,137
15 years$4,279$3,662$3,123$2,654$2,249$1,853
16 years$3,970$3,360$2,831$2,376$1,987$1,612
17 years$3,697$3,094$2,576$2,135$1,762$1,407
18 years$3,456$2,859$2,352$1,924$1,567$1,231
19 years$3,239$2,650$2,153$1,739$1,397$1,080
20 years$3,045$2,463$1,976$1,575$1,247$948
21 years$2,870$2,294$1,818$1,429$1,116$835
22 years$2,710$2,141$1,675$1,299$1,001$735
23 years$2,565$2,003$1,547$1,183$898$649
24 years$2,432$1,876$1,430$1,079$807$573
25 years$2,310$1,761$1,325$986$726$507
26 years$2,197$1,655$1,229$901$654$448
27 years$2,093$1,557$1,141$825$590$397
28 years$1,997$1,468$1,061$756$532$352
29 years$1,907$1,384$987$693$481$312
30 years$1,824$1,308$919$636$434$277
31 years$1,746$1,236$857$584$393$245
32 years$1,673$1,170$800$537$355$218
33 years$1,605$1,108$747$494$321$194
34 years$1,540$1,050$698$454$291$172
35 years$1,480$996$652$418$264$153
36 years$1,423$945$610$385$239$136
37 years$1,369$898$571$355$216$121
38 years$1,319$853$535$327$196$107
39 years$1,271$811$501$302$178$95
40 years$1,225$772$470$278$161$85
41 years$1,182$735$440$257$146$75
42 years$1,141$700$413$237$133$67
43 years$1,102$667$388$219$121$60
44 years$1,065$635$364$202$109$53
45 years$1,029$606$342$186$99$47
46 years$995$578$321$172$90$42
47 years$963$552$301$159$82$37
48 years$932$527$283$147$74$33
49 years$903$503$266$136$68$30
50 years$875$480$250$126$61$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $896,000, adding $2,680 every year, while hoping to spend $29,956 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: 41/33/26 Blend
65$896,000$896,000$896,000$896,000
66$990,156$942,668$928,780$1,023,084
67$1,059,279$956,986$928,022$1,061,378
68$1,134,449$971,002$926,233$1,099,779
69$1,216,250$984,668$923,350$1,140,764
70$1,305,327$997,936$919,301$1,184,587
71$1,402,388$1,010,752$914,015$1,231,530
72$1,508,212$1,023,060$907,415$1,281,907
73$1,623,658$1,034,798$899,422$1,336,061
74$1,749,670$1,045,902$889,951$1,394,376
75$1,887,287$1,056,303$878,916$1,457,273
76$2,037,655$1,065,926$866,225$1,525,219
77$2,202,034$1,074,694$851,781$1,598,731
78$2,381,810$1,082,523$835,484$1,678,379
79$2,578,511$1,089,322$817,229$1,764,795
80$2,793,818$1,094,999$796,905$1,858,677
81$3,029,585$1,099,451$774,399$1,960,794
82$3,287,849$1,102,571$749,588$2,072,000
83$3,570,858$1,104,245$722,348$2,193,236
84$3,881,085$1,104,353$692,546$2,325,542
85$4,221,254$1,102,764$660,044$2,470,067
86$4,594,366$1,099,343$624,700$2,628,082
87$5,003,725$1,093,945$586,361$2,800,988
88$5,452,972$1,086,415$544,871$2,990,336
89$5,946,116$1,076,591$500,065$3,197,836
90$6,487,575$1,064,299$451,772$3,425,379
91$7,082,214$1,049,355$399,813$3,675,050
92$7,735,392$1,031,566$343,999$3,949,154
93$8,453,015$1,010,725$284,135$4,250,235
94$9,241,586$986,615$220,018$4,581,102
95$10,108,272$959,003$151,433$4,944,855
96$11,060,967$927,646$78,157$5,344,917
97$12,108,370$892,284$0$5,785,065
98$13,260,061$852,644$0$6,269,481
99$14,526,600$808,436$0$6,825,894
100$15,919,616$759,352$0$7,437,748