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%18.9%
1 years$74,156$73,495$72,851$72,222$71,608$69,040
2 years$36,711$36,027$35,365$34,722$34,099$31,539
3 years$24,231$23,544$22,883$22,247$21,634$19,163
4 years$17,992$17,307$16,653$16,028$15,429$13,067
5 years$14,250$13,569$12,924$12,311$11,729$9,481
6 years$11,756$11,080$10,444$9,845$9,281$7,148
7 years$9,975$9,305$8,679$8,094$7,548$5,530
8 years$8,640$7,976$7,361$6,790$6,262$4,358
9 years$7,602$6,945$6,340$5,784$5,273$3,480
10 years$6,772$6,122$5,527$4,985$4,493$2,808
11 years$6,094$5,450$4,866$4,339$3,864$2,283
12 years$5,529$4,891$4,318$3,806$3,349$1,869
13 years$5,051$4,420$3,858$3,360$2,920$1,537
14 years$4,642$4,018$3,467$2,983$2,560$1,269
15 years$4,288$3,670$3,130$2,660$2,254$1,051
16 years$3,978$3,368$2,838$2,382$1,992$872
17 years$3,706$3,101$2,582$2,140$1,766$726
18 years$3,463$2,866$2,357$1,928$1,570$605
19 years$3,247$2,656$2,158$1,743$1,400$505
20 years$3,052$2,468$1,980$1,578$1,250$422
21 years$2,876$2,299$1,822$1,432$1,119$353
22 years$2,716$2,146$1,679$1,302$1,003$296
23 years$2,571$2,007$1,550$1,186$900$248
24 years$2,438$1,881$1,434$1,082$809$208
25 years$2,315$1,765$1,328$988$728$174
26 years$2,202$1,659$1,231$903$656$146
27 years$2,098$1,561$1,144$827$591$123
28 years$2,001$1,471$1,063$758$534$103
29 years$1,912$1,388$989$695$482$87
30 years$1,828$1,310$921$638$435$73
31 years$1,750$1,239$859$586$394$61
32 years$1,677$1,172$802$538$356$51
33 years$1,608$1,110$748$495$322$43
34 years$1,544$1,052$699$455$292$36
35 years$1,483$998$654$419$264$31
36 years$1,426$947$612$386$239$26
37 years$1,372$900$572$356$217$22
38 years$1,322$855$536$328$197$18
39 years$1,273$813$502$302$178$15
40 years$1,228$773$471$279$162$13
41 years$1,184$736$441$257$147$11
42 years$1,143$701$414$237$133$9
43 years$1,104$668$389$219$121$8
44 years$1,067$637$365$202$110$6
45 years$1,031$607$342$187$100$5
46 years$998$579$322$173$90$5
47 years$965$553$302$159$82$4
48 years$935$528$284$147$75$3
49 years$905$504$267$136$68$3
50 years$877$481$251$126$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $898,000, adding $5,130 every year, while hoping to spend $40,562 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: 32/40/28 Blend
65$898,000$898,000$898,000$898,000
66$994,888$947,294$933,375$1,018,095
67$1,053,208$950,553$921,485$1,039,574
68$1,116,119$952,613$907,838$1,058,758
69$1,184,043$953,372$892,331$1,078,628
70$1,257,450$952,721$874,858$1,099,274
71$1,336,852$950,547$855,308$1,120,796
72$1,422,814$946,727$833,564$1,143,310
73$1,515,956$941,132$809,504$1,166,943
74$1,616,962$933,625$783,000$1,191,843
75$1,726,581$924,062$753,920$1,218,175
76$1,845,639$912,288$722,123$1,246,126
77$1,975,044$898,139$687,463$1,275,903
78$2,115,794$881,444$649,789$1,307,744
79$2,268,988$862,018$608,940$1,341,912
80$2,435,836$839,668$564,751$1,378,706
81$2,617,668$814,188$517,047$1,418,456
82$2,815,948$785,362$465,646$1,461,537
83$3,032,288$752,957$410,358$1,508,365
84$3,268,462$716,733$350,985$1,559,405
85$3,526,422$676,429$287,320$1,615,180
86$3,808,318$631,776$219,147$1,676,269
87$4,116,517$582,483$146,238$1,743,322
88$4,453,624$528,247$68,360$1,817,061
89$4,822,509$468,747$0$1,898,293
90$5,226,331$403,641$0$1,992,321
91$5,668,568$332,570$0$2,117,818
92$6,153,051$255,156$0$2,255,532
93$6,684,000$170,996$0$2,406,780
94$7,266,060$79,667$0$2,573,023
95$7,904,350$0$0$2,755,877
96$8,604,506$0$0$2,965,616
97$9,372,736$0$0$3,234,361
98$10,215,879$0$0$3,529,456
99$11,141,466$0$0$3,853,553
100$12,157,796$0$0$4,209,577