Can I retire at age 66 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$80,019$79,306$78,611$77,932$77,269$76,462
2 years$39,613$38,876$38,161$37,467$36,795$35,982
3 years$26,147$25,406$24,692$24,006$23,344$22,551
4 years$19,415$18,676$17,970$17,295$16,649$15,882
5 years$15,376$14,642$13,945$13,284$12,657$11,917
6 years$12,685$11,956$11,270$10,623$10,015$9,304
7 years$10,764$10,041$9,365$8,734$8,145$7,463
8 years$9,323$8,607$7,943$7,327$6,757$6,104
9 years$8,203$7,494$6,841$6,241$5,690$5,066
10 years$7,308$6,606$5,964$5,380$4,848$4,253
11 years$6,576$5,880$5,251$4,682$4,170$3,602
12 years$5,966$5,278$4,660$4,107$3,613$3,073
13 years$5,451$4,770$4,163$3,626$3,151$2,638
14 years$5,009$4,336$3,741$3,218$2,762$2,275
15 years$4,627$3,961$3,377$2,870$2,432$1,970
16 years$4,293$3,634$3,062$2,570$2,149$1,712
17 years$3,999$3,347$2,786$2,309$1,906$1,492
18 years$3,737$3,092$2,544$2,081$1,695$1,304
19 years$3,503$2,866$2,329$1,880$1,510$1,141
20 years$3,293$2,663$2,137$1,703$1,349$1,001
21 years$3,104$2,481$1,966$1,546$1,207$880
22 years$2,931$2,316$1,812$1,405$1,082$774
23 years$2,774$2,166$1,673$1,280$971$682
24 years$2,630$2,029$1,547$1,167$873$601
25 years$2,498$1,904$1,433$1,066$786$531
26 years$2,377$1,790$1,329$975$708$469
27 years$2,264$1,684$1,234$892$638$415
28 years$2,160$1,587$1,147$817$576$367
29 years$2,063$1,497$1,068$750$520$325
30 years$1,972$1,414$994$688$470$288
31 years$1,888$1,337$927$632$425$255
32 years$1,809$1,265$865$581$384$226
33 years$1,735$1,198$808$534$348$200
34 years$1,666$1,135$755$491$315$177
35 years$1,601$1,077$705$452$285$157
36 years$1,539$1,022$660$417$258$140
37 years$1,481$971$618$384$234$124
38 years$1,426$922$578$354$212$110
39 years$1,374$877$542$326$192$98
40 years$1,325$835$508$301$175$87
41 years$1,278$794$476$278$158$77
42 years$1,234$757$447$256$144$68
43 years$1,191$721$419$236$130$61
44 years$1,151$687$394$218$118$54
45 years$1,113$655$370$202$107$48
46 years$1,077$625$347$186$98$43
47 years$1,042$597$326$172$89$38
48 years$1,008$569$306$159$80$34
49 years$977$544$288$147$73$30
50 years$946$519$271$136$66$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $969,000, adding $4,380 every year, while hoping to spend $37,894 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: 57/22/21 Blend
65$969,000$969,000$969,000$969,000
66$1,072,356$1,020,999$1,005,979$1,127,205
67$1,141,417$1,030,709$999,361$1,174,796
68$1,216,253$1,039,625$991,250$1,222,197
69$1,297,412$1,047,667$981,558$1,273,028
70$1,385,497$1,054,753$970,190$1,327,628
71$1,481,174$1,060,791$957,047$1,386,374
72$1,585,172$1,065,688$942,026$1,449,678
73$1,698,294$1,069,342$925,019$1,517,999
74$1,821,425$1,071,645$905,912$1,591,844
75$1,955,538$1,072,482$884,588$1,671,770
76$2,101,702$1,071,733$860,921$1,758,396
77$2,261,096$1,069,269$834,782$1,852,403
78$2,435,016$1,064,951$806,036$1,954,546
79$2,624,890$1,058,636$774,540$2,065,656
80$2,832,288$1,050,169$740,147$2,186,652
81$3,058,941$1,039,386$702,700$2,318,551
82$3,306,751$1,026,114$662,039$2,462,471
83$3,577,815$1,010,169$617,993$2,619,652
84$3,874,442$991,358$570,386$2,791,460
85$4,199,173$969,472$519,032$2,979,403
86$4,554,807$944,295$463,738$3,185,149
87$4,944,426$915,594$404,302$3,410,535
88$5,371,425$883,125$340,513$3,657,592
89$5,839,542$846,630$272,152$3,928,560
90$6,352,894$805,834$198,988$4,225,914
91$6,916,016$760,446$120,781$4,552,382
92$7,533,903$710,161$37,280$4,910,977
93$8,212,056$654,655$0$5,305,024
94$8,956,537$593,584$0$5,749,805
95$9,774,021$526,586$0$6,247,424
96$10,671,861$453,279$0$6,794,048
97$11,658,159$373,258$0$7,394,674
98$12,741,839$286,096$0$8,054,807
99$13,932,733$191,341$0$8,780,519
100$15,241,672$88,516$0$9,578,502