Can I retire at age 66 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$78,202$77,506$76,826$76,163$75,515$73,010
2 years$38,714$37,993$37,294$36,617$35,960$33,460
3 years$25,553$24,829$24,132$23,461$22,814$20,399
4 years$18,974$18,252$17,562$16,902$16,271$13,958
5 years$15,027$14,310$13,629$12,982$12,369$10,165
6 years$12,397$11,685$11,014$10,382$9,787$7,694
7 years$10,519$9,813$9,153$8,536$7,960$5,976
8 years$9,111$8,412$7,762$7,160$6,603$4,729
9 years$8,017$7,324$6,686$6,099$5,561$3,793
10 years$7,142$6,456$5,829$5,257$4,738$3,074
11 years$6,427$5,747$5,131$4,576$4,075$2,511
12 years$5,831$5,158$4,554$4,013$3,531$2,064
13 years$5,327$4,661$4,069$3,543$3,079$1,706
14 years$4,896$4,237$3,656$3,145$2,699$1,415
15 years$4,522$3,871$3,301$2,805$2,377$1,178
16 years$4,196$3,551$2,993$2,512$2,101$983
17 years$3,908$3,271$2,723$2,257$1,863$822
18 years$3,652$3,022$2,486$2,034$1,656$689
19 years$3,424$2,801$2,276$1,838$1,476$578
20 years$3,219$2,603$2,088$1,664$1,318$486
21 years$3,033$2,424$1,921$1,510$1,180$409
22 years$2,865$2,263$1,771$1,373$1,058$344
23 years$2,711$2,117$1,635$1,251$949$290
24 years$2,571$1,983$1,512$1,141$853$245
25 years$2,442$1,861$1,400$1,042$768$206
26 years$2,323$1,749$1,299$953$692$174
27 years$2,213$1,646$1,206$872$624$147
28 years$2,111$1,551$1,121$799$563$124
29 years$2,016$1,463$1,043$733$508$105
30 years$1,928$1,382$972$672$459$89
31 years$1,845$1,306$906$617$415$75
32 years$1,768$1,236$845$567$375$63
33 years$1,696$1,171$789$522$340$54
34 years$1,628$1,109$737$480$308$45
35 years$1,564$1,052$689$442$279$38
36 years$1,504$999$645$407$252$32
37 years$1,447$949$604$375$229$27
38 years$1,394$902$565$346$207$23
39 years$1,343$857$530$319$188$20
40 years$1,295$816$496$294$171$17
41 years$1,249$776$465$271$155$14
42 years$1,206$739$437$250$140$12
43 years$1,164$705$410$231$127$10
44 years$1,125$672$385$213$116$8
45 years$1,088$640$361$197$105$7
46 years$1,052$611$339$182$95$6
47 years$1,018$583$319$168$87$5
48 years$985$557$299$155$79$4
49 years$954$531$281$144$71$4
50 years$925$508$265$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $947,000, adding $2,488 every year, while hoping to spend $44,517 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: 48/42/10 Blend
65$947,000$947,000$947,000$947,000
66$1,046,160$995,969$981,291$1,093,411
67$1,105,503$997,406$966,798$1,127,575
68$1,169,407$997,421$950,328$1,159,791
69$1,238,289$995,898$931,768$1,193,750
70$1,312,610$992,713$910,998$1,229,629
71$1,392,875$987,734$887,894$1,267,623
72$1,479,637$980,822$862,328$1,307,953
73$1,573,507$971,829$834,163$1,350,860
74$1,675,154$960,598$803,257$1,396,616
75$1,785,316$946,964$769,462$1,445,523
76$1,904,802$930,749$732,622$1,497,914
77$2,034,503$911,767$692,576$1,554,163
78$2,175,399$889,820$649,154$1,614,682
79$2,328,568$864,699$602,179$1,679,933
80$2,495,195$836,183$551,466$1,750,425
81$2,676,586$804,036$496,820$1,826,725
82$2,874,175$768,011$438,041$1,909,463
83$3,089,542$727,845$374,916$1,999,336
84$3,324,426$683,260$307,227$2,097,120
85$3,580,740$633,963$234,742$2,203,674
86$3,860,591$579,642$157,221$2,319,949
87$4,166,297$519,970$74,414$2,447,003
88$4,500,410$454,600$0$2,586,006
89$4,865,742$383,165$0$2,739,744
90$5,265,385$305,278$0$2,916,734
91$5,702,748$220,530$0$3,110,649
92$6,181,580$128,488$0$3,323,285
93$6,706,014$28,696$0$3,556,625
94$7,280,598$0$0$3,812,862
95$7,910,343$0$0$4,131,086
96$8,600,766$0$0$4,494,617
97$9,357,944$0$0$4,893,406
98$10,188,572$0$0$5,330,993
99$11,100,021$0$0$5,811,275
100$12,100,413$0$0$6,338,547