Can I retire at age 66 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$77,459$76,769$76,096$75,439$74,797$74,264
2 years$38,346$37,632$36,940$36,269$35,618$35,080
3 years$25,310$24,593$23,903$23,238$22,597$22,072
4 years$18,793$18,078$17,395$16,741$16,117$15,607
5 years$14,884$14,174$13,499$12,859$12,252$11,760
6 years$12,279$11,574$10,909$10,283$9,694$9,221
7 years$10,419$9,720$9,066$8,455$7,884$7,429
8 years$9,025$8,332$7,688$7,092$6,541$6,104
9 years$7,941$7,254$6,622$6,041$5,508$5,090
10 years$7,074$6,394$5,773$5,208$4,693$4,294
11 years$6,365$5,692$5,083$4,532$4,036$3,655
12 years$5,775$5,109$4,511$3,975$3,498$3,134
13 years$5,276$4,617$4,030$3,510$3,050$2,703
14 years$4,849$4,197$3,621$3,115$2,674$2,344
15 years$4,479$3,834$3,269$2,778$2,354$2,041
16 years$4,156$3,518$2,964$2,488$2,081$1,783
17 years$3,871$3,240$2,697$2,235$1,845$1,563
18 years$3,618$2,993$2,462$2,014$1,640$1,373
19 years$3,391$2,774$2,254$1,820$1,462$1,209
20 years$3,188$2,578$2,069$1,649$1,306$1,067
21 years$3,004$2,401$1,903$1,496$1,169$943
22 years$2,837$2,242$1,754$1,360$1,048$835
23 years$2,685$2,096$1,619$1,239$940$740
24 years$2,546$1,964$1,497$1,130$845$657
25 years$2,418$1,843$1,387$1,032$761$583
26 years$2,300$1,732$1,286$944$685$519
27 years$2,192$1,630$1,194$864$618$461
28 years$2,091$1,536$1,110$791$557$411
29 years$1,997$1,449$1,033$726$503$366
30 years$1,909$1,369$963$666$455$326
31 years$1,828$1,294$897$612$411$291
32 years$1,751$1,224$837$562$372$259
33 years$1,680$1,159$782$517$337$232
34 years$1,613$1,099$730$476$305$207
35 years$1,549$1,042$683$438$276$185
36 years$1,490$989$639$403$250$165
37 years$1,434$940$598$371$227$147
38 years$1,380$893$560$342$205$132
39 years$1,330$849$525$316$186$118
40 years$1,282$808$492$291$169$105
41 years$1,237$769$461$269$153$94
42 years$1,194$732$432$248$139$84
43 years$1,153$698$406$229$126$75
44 years$1,114$665$381$211$115$67
45 years$1,077$634$358$195$104$60
46 years$1,042$605$336$180$94$54
47 years$1,008$577$316$167$86$48
48 years$976$551$297$154$78$43
49 years$945$526$279$142$71$39
50 years$916$503$262$131$64$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $938,000, adding $4,946 every year, while hoping to spend $51,810 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: 27/50/23 Blend
65$938,000$938,000$938,000$938,000
66$1,038,778$989,064$974,525$1,059,187
67$1,089,608$982,402$952,046$1,069,072
68$1,143,886$973,678$927,078$1,074,814
69$1,201,909$962,736$899,482$1,079,886
70$1,264,003$949,409$869,114$1,084,264
71$1,330,525$933,524$835,823$1,087,925
72$1,401,867$914,894$799,450$1,090,853
73$1,478,457$893,324$759,832$1,093,032
74$1,560,768$868,605$716,795$1,094,452
75$1,649,318$840,518$670,159$1,095,111
76$1,744,673$808,829$619,735$1,095,009
77$1,847,460$773,292$565,326$1,094,157
78$1,958,363$733,645$506,726$1,092,572
79$2,078,136$689,613$443,721$1,090,284
80$2,207,606$640,905$376,086$1,087,332
81$2,347,684$587,211$303,587$1,083,770
82$2,499,369$528,205$225,978$1,079,666
83$2,663,760$463,543$143,004$1,075,106
84$2,842,068$392,861$54,399$1,070,195
85$3,035,620$315,773$0$1,065,061
86$3,245,881$231,873$0$1,069,712
87$3,474,458$140,732$0$1,089,362
88$3,723,120$41,895$0$1,110,935
89$3,993,816$0$0$1,134,759
90$4,288,688$0$0$1,197,031
91$4,610,092$0$0$1,290,172
92$4,960,625$0$0$1,391,902
93$5,343,141$0$0$1,503,067
94$5,760,785$0$0$1,624,601
95$6,217,017$0$0$1,757,530
96$6,715,646$0$0$1,902,985
97$7,260,867$0$0$2,062,212
98$7,857,298$0$0$2,236,581
99$8,510,023$0$0$2,427,603
100$9,224,641$0$0$2,636,940