Can I retire at age 66 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$74,156$73,495$72,851$72,222$71,608$69,150
2 years$36,711$36,027$35,365$34,722$34,099$31,647
3 years$24,231$23,544$22,883$22,247$21,634$19,266
4 years$17,992$17,307$16,653$16,028$15,429$13,163
5 years$14,250$13,569$12,924$12,311$11,729$9,571
6 years$11,756$11,080$10,444$9,845$9,281$7,232
7 years$9,975$9,305$8,679$8,094$7,548$5,608
8 years$8,640$7,976$7,361$6,790$6,262$4,429
9 years$7,602$6,945$6,340$5,784$5,273$3,546
10 years$6,772$6,122$5,527$4,985$4,493$2,868
11 years$6,094$5,450$4,866$4,339$3,864$2,339
12 years$5,529$4,891$4,318$3,806$3,349$1,919
13 years$5,051$4,420$3,858$3,360$2,920$1,582
14 years$4,642$4,018$3,467$2,983$2,560$1,310
15 years$4,288$3,670$3,130$2,660$2,254$1,088
16 years$3,978$3,368$2,838$2,382$1,992$906
17 years$3,706$3,101$2,582$2,140$1,766$756
18 years$3,463$2,866$2,357$1,928$1,570$632
19 years$3,247$2,656$2,158$1,743$1,400$530
20 years$3,052$2,468$1,980$1,578$1,250$444
21 years$2,876$2,299$1,822$1,432$1,119$373
22 years$2,716$2,146$1,679$1,302$1,003$313
23 years$2,571$2,007$1,550$1,186$900$263
24 years$2,438$1,881$1,434$1,082$809$221
25 years$2,315$1,765$1,328$988$728$186
26 years$2,202$1,659$1,231$903$656$157
27 years$2,098$1,561$1,144$827$591$132
28 years$2,001$1,471$1,063$758$534$111
29 years$1,912$1,388$989$695$482$94
30 years$1,828$1,310$921$638$435$79
31 years$1,750$1,239$859$586$394$67
32 years$1,677$1,172$802$538$356$56
33 years$1,608$1,110$748$495$322$47
34 years$1,544$1,052$699$455$292$40
35 years$1,483$998$654$419$264$34
36 years$1,426$947$612$386$239$28
37 years$1,372$900$572$356$217$24
38 years$1,322$855$536$328$197$20
39 years$1,273$813$502$302$178$17
40 years$1,228$773$471$279$162$14
41 years$1,184$736$441$257$147$12
42 years$1,143$701$414$237$133$10
43 years$1,104$668$389$219$121$9
44 years$1,067$637$365$202$110$7
45 years$1,031$607$342$187$100$6
46 years$998$579$322$173$90$5
47 years$965$553$302$159$82$4
48 years$935$528$284$147$75$4
49 years$905$504$267$136$68$3
50 years$877$481$251$126$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $898,000, adding $2,777 every year, while hoping to spend $36,029 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: 43/35/22 Blend
65$898,000$898,000$898,000$898,000
66$992,460$944,866$930,947$1,028,669
67$1,055,357$952,830$923,800$1,062,589
68$1,123,461$959,977$915,205$1,095,613
69$1,197,266$966,228$905,076$1,130,664
70$1,277,315$971,501$893,324$1,167,947
71$1,364,204$975,707$879,853$1,207,692
72$1,458,587$978,751$864,563$1,250,151
73$1,561,188$980,535$847,351$1,295,608
74$1,672,800$980,952$828,108$1,344,373
75$1,794,296$979,889$806,719$1,396,795
76$1,926,637$977,226$783,067$1,453,256
77$2,070,880$972,837$757,026$1,514,184
78$2,228,190$966,585$728,466$1,580,050
79$2,399,846$958,329$697,251$1,651,379
80$2,587,260$947,917$663,238$1,728,750
81$2,791,983$935,186$626,279$1,812,806
82$3,015,723$919,969$586,217$1,904,259
83$3,260,362$902,082$542,891$2,003,897
84$3,527,970$881,336$496,129$2,112,592
85$3,820,829$857,527$445,755$2,231,312
86$4,141,449$830,442$391,584$2,361,123
87$4,492,596$799,852$333,421$2,503,211
88$4,877,314$765,518$271,063$2,658,883
89$5,298,957$727,186$204,301$2,829,588
90$5,761,219$684,586$132,914$3,016,927
91$6,268,167$637,435$56,670$3,222,671
92$6,824,282$585,431$0$3,448,778
93$7,434,499$528,257$0$3,703,211
94$8,104,254$465,577$0$3,997,137
95$8,839,533$397,036$0$4,319,949
96$9,646,934$322,259$0$4,674,631
97$10,533,720$240,850$0$5,064,483
98$11,507,898$152,389$0$5,493,141
99$12,578,283$56,436$0$5,964,623
100$13,754,590$0$0$6,483,358