Can I retire at age 66 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$79,606$78,897$78,205$77,530$76,871$75,847
2 years$39,409$38,675$37,964$37,274$36,605$35,576
3 years$26,012$25,275$24,565$23,882$23,224$22,220
4 years$19,314$18,579$17,877$17,206$16,563$15,594
5 years$15,297$14,567$13,873$13,215$12,591$11,658
6 years$12,620$11,895$11,212$10,569$9,963$9,067
7 years$10,708$9,989$9,317$8,689$8,103$7,245
8 years$9,275$8,563$7,902$7,289$6,722$5,902
9 years$8,161$7,455$6,806$6,209$5,661$4,879
10 years$7,270$6,571$5,933$5,352$4,823$4,078
11 years$6,542$5,850$5,224$4,658$4,148$3,439
12 years$5,935$5,251$4,636$4,085$3,595$2,921
13 years$5,423$4,745$4,142$3,607$3,135$2,496
14 years$4,984$4,313$3,721$3,202$2,748$2,142
15 years$4,603$3,940$3,360$2,855$2,419$1,846
16 years$4,271$3,615$3,046$2,557$2,138$1,597
17 years$3,978$3,329$2,772$2,297$1,896$1,385
18 years$3,718$3,076$2,530$2,070$1,686$1,204
19 years$3,485$2,851$2,317$1,871$1,503$1,049
20 years$3,276$2,650$2,126$1,694$1,342$915
21 years$3,088$2,468$1,955$1,538$1,201$800
22 years$2,916$2,304$1,802$1,398$1,077$700
23 years$2,760$2,155$1,664$1,273$966$614
24 years$2,617$2,019$1,539$1,161$869$538
25 years$2,485$1,894$1,425$1,061$782$472
26 years$2,364$1,781$1,322$970$704$415
27 years$2,252$1,676$1,228$888$635$365
28 years$2,149$1,579$1,141$813$573$321
29 years$2,052$1,490$1,062$746$517$283
30 years$1,962$1,407$989$684$467$249
31 years$1,878$1,330$922$629$422$219
32 years$1,800$1,258$860$578$382$193
33 years$1,726$1,192$803$531$346$170
34 years$1,657$1,129$751$489$313$150
35 years$1,592$1,071$702$450$284$132
36 years$1,531$1,017$657$414$257$117
37 years$1,473$966$614$382$233$103
38 years$1,419$918$575$352$211$91
39 years$1,367$873$539$324$191$80
40 years$1,318$830$505$299$174$71
41 years$1,271$790$474$276$158$62
42 years$1,227$753$444$255$143$55
43 years$1,185$717$417$235$130$49
44 years$1,145$684$392$217$118$43
45 years$1,107$652$368$201$107$38
46 years$1,071$622$345$185$97$33
47 years$1,036$593$324$171$88$30
48 years$1,003$567$305$158$80$26
49 years$972$541$287$146$73$23
50 years$941$517$269$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $964,000, adding $2,106 every year, while hoping to spend $37,399 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: 45/42/13 Blend
65$964,000$964,000$964,000$964,000
66$1,064,500$1,013,408$998,466$1,108,368
67$1,133,287$1,023,273$992,123$1,148,946
68$1,207,837$1,032,368$984,313$1,188,962
69$1,288,697$1,040,615$974,949$1,231,528
70$1,376,472$1,047,933$963,937$1,276,894
71$1,471,824$1,054,234$951,181$1,325,339
72$1,575,484$1,059,424$936,579$1,377,169
73$1,688,252$1,063,405$920,024$1,432,724
74$1,811,013$1,066,072$901,404$1,492,382
75$1,944,739$1,067,311$880,603$1,556,558
76$2,090,498$1,067,005$857,499$1,625,714
77$2,249,467$1,065,027$831,964$1,700,362
78$2,422,942$1,061,243$803,864$1,781,067
79$2,612,349$1,055,510$773,060$1,868,454
80$2,819,256$1,047,678$739,405$1,963,216
81$3,045,392$1,037,586$702,747$2,066,118
82$3,292,659$1,025,064$662,926$2,178,008
83$3,563,151$1,009,933$619,774$2,299,822
84$3,859,174$992,002$573,119$2,432,598
85$4,183,268$971,068$522,777$2,577,480
86$4,538,230$946,919$468,558$2,735,736
87$4,927,137$919,326$410,263$2,908,766
88$5,353,383$888,050$347,684$3,098,119
89$5,820,701$852,838$280,605$3,305,507
90$6,333,206$813,421$208,799$3,532,819
91$6,895,429$769,514$132,029$3,782,148
92$7,512,359$720,817$50,049$4,055,801
93$8,189,495$667,012$0$4,356,331
94$8,932,892$607,764$0$4,691,750
95$9,749,219$542,716$0$5,067,724
96$10,645,824$471,494$0$5,480,782
97$11,630,801$393,701$0$5,934,762
98$12,713,068$308,918$0$6,433,903
99$13,902,449$216,702$0$6,982,880
100$15,209,764$116,586$0$7,586,853