Can I retire at age 66 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$80,184$79,470$78,773$78,093$77,429$75,680
2 years$39,695$38,956$38,239$37,545$36,871$35,118
3 years$26,201$25,458$24,743$24,055$23,392$21,691
4 years$19,455$18,714$18,007$17,330$16,684$15,046
5 years$15,408$14,672$13,974$13,311$12,683$11,114
6 years$12,711$11,981$11,293$10,645$10,035$8,537
7 years$10,786$10,062$9,385$8,752$8,161$6,734
8 years$9,342$8,625$7,959$7,342$6,771$5,413
9 years$8,220$7,509$6,855$6,254$5,702$4,413
10 years$7,323$6,619$5,976$5,391$4,858$3,637
11 years$6,589$5,893$5,261$4,692$4,178$3,023
12 years$5,979$5,289$4,669$4,115$3,621$2,530
13 years$5,462$4,780$4,172$3,633$3,157$2,129
14 years$5,020$4,345$3,748$3,225$2,768$1,799
15 years$4,637$3,969$3,384$2,876$2,437$1,527
16 years$4,302$3,641$3,068$2,575$2,154$1,299
17 years$4,007$3,354$2,792$2,314$1,910$1,108
18 years$3,745$3,099$2,549$2,085$1,698$947
19 years$3,511$2,872$2,333$1,884$1,513$812
20 years$3,300$2,669$2,141$1,707$1,352$696
21 years$3,110$2,486$1,970$1,549$1,210$598
22 years$2,937$2,320$1,815$1,408$1,084$514
23 years$2,780$2,170$1,676$1,282$973$443
24 years$2,636$2,033$1,550$1,170$875$381
25 years$2,503$1,908$1,436$1,068$787$329
26 years$2,381$1,793$1,332$977$709$283
27 years$2,269$1,688$1,237$894$639$245
28 years$2,164$1,590$1,150$819$577$211
29 years$2,067$1,500$1,070$751$521$182
30 years$1,977$1,417$996$689$471$158
31 years$1,892$1,339$929$633$426$136
32 years$1,813$1,267$867$582$385$118
33 years$1,739$1,200$809$535$348$102
34 years$1,669$1,138$756$492$315$88
35 years$1,604$1,079$707$453$286$76
36 years$1,542$1,024$661$417$259$66
37 years$1,484$973$619$385$235$57
38 years$1,429$924$580$354$213$49
39 years$1,377$879$543$327$193$43
40 years$1,328$836$509$301$175$37
41 years$1,281$796$477$278$159$32
42 years$1,236$758$448$257$144$28
43 years$1,194$722$420$237$131$24
44 years$1,154$689$394$219$119$21
45 years$1,115$657$370$202$108$18
46 years$1,079$626$348$187$98$16
47 years$1,044$598$327$172$89$13
48 years$1,010$571$307$159$81$12
49 years$979$545$289$147$73$10
50 years$948$521$271$136$67$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $971,000, adding $6,096 every year, while hoping to spend $32,239 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: 78/11/11 Blend
65$971,000$971,000$971,000$971,000
66$1,076,330$1,024,867$1,009,817$1,157,673
67$1,151,814$1,040,783$1,009,343$1,227,936
68$1,233,916$1,056,399$1,007,774$1,300,228
69$1,323,278$1,071,666$1,005,037$1,378,589
70$1,420,606$1,086,531$1,001,059$1,463,613
71$1,526,675$1,100,938$995,762$1,555,951
72$1,642,340$1,114,828$989,064$1,656,322
73$1,768,541$1,128,137$980,880$1,765,517
74$1,906,313$1,140,797$971,120$1,884,407
75$2,056,796$1,152,734$959,691$2,013,952
76$2,221,242$1,163,871$946,495$2,155,212
77$2,401,034$1,174,126$931,427$2,309,351
78$2,597,692$1,183,410$914,382$2,477,653
79$2,812,888$1,191,629$895,246$2,661,535
80$3,048,467$1,198,683$873,900$2,862,556
81$3,306,458$1,204,466$850,223$3,082,433
82$3,589,095$1,208,864$824,085$3,323,061
83$3,898,842$1,211,757$795,350$3,586,526
84$4,238,407$1,213,017$763,878$3,875,128
85$4,610,778$1,212,508$729,522$4,191,401
86$5,019,242$1,210,086$692,125$4,538,137
87$5,467,422$1,205,597$651,529$4,918,414
88$5,959,307$1,198,879$607,563$5,335,623
89$6,499,292$1,189,759$560,051$5,793,502
90$7,092,217$1,178,055$508,811$6,296,171
91$7,743,416$1,163,573$453,649$6,848,168
92$8,458,762$1,146,106$394,364$7,454,498
93$9,244,728$1,125,437$330,747$8,120,673
94$10,108,442$1,101,335$262,579$8,852,771
95$11,057,759$1,073,556$189,631$9,657,488
96$12,101,331$1,041,841$111,664$10,542,206
97$13,248,691$1,005,916$28,429$11,515,058
98$14,510,342$965,490$0$12,585,010
99$15,897,856$920,258$0$13,769,031
100$17,423,981$869,894$0$15,074,943