Can I retire at age 66 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$80,515$79,797$79,098$78,415$77,748$77,420
2 years$39,859$39,116$38,397$37,699$37,023$36,692
3 years$26,309$25,563$24,845$24,154$23,489$23,165
4 years$19,535$18,791$18,081$17,402$16,752$16,438
5 years$15,472$14,733$14,032$13,366$12,735$12,431
6 years$12,764$12,030$11,340$10,689$10,077$9,784
7 years$10,830$10,103$9,423$8,788$8,195$7,914
8 years$9,381$8,660$7,992$7,372$6,799$6,528
9 years$8,254$7,540$6,883$6,279$5,725$5,466
10 years$7,353$6,646$6,001$5,413$4,878$4,630
11 years$6,617$5,917$5,283$4,711$4,196$3,958
12 years$6,003$5,311$4,689$4,132$3,636$3,409
13 years$5,485$4,799$4,189$3,648$3,170$2,954
14 years$5,040$4,362$3,764$3,238$2,779$2,573
15 years$4,656$3,985$3,398$2,888$2,447$2,250
16 years$4,320$3,656$3,081$2,586$2,163$1,976
17 years$4,023$3,367$2,804$2,323$1,918$1,740
18 years$3,760$3,112$2,559$2,094$1,705$1,536
19 years$3,525$2,884$2,343$1,892$1,520$1,360
20 years$3,314$2,680$2,150$1,714$1,357$1,206
21 years$3,123$2,496$1,978$1,555$1,215$1,071
22 years$2,949$2,330$1,823$1,414$1,089$953
23 years$2,791$2,179$1,683$1,288$977$849
24 years$2,647$2,042$1,557$1,174$879$758
25 years$2,514$1,916$1,442$1,073$791$677
26 years$2,391$1,801$1,337$981$712$605
27 years$2,278$1,695$1,242$898$642$541
28 years$2,173$1,597$1,154$822$579$484
29 years$2,076$1,507$1,074$754$523$434
30 years$1,985$1,423$1,000$692$473$389
31 years$1,900$1,345$933$636$427$349
32 years$1,820$1,273$870$584$387$313
33 years$1,746$1,205$813$537$350$281
34 years$1,676$1,142$759$494$317$252
35 years$1,610$1,083$710$455$287$227
36 years$1,549$1,028$664$419$260$204
37 years$1,490$977$622$386$236$183
38 years$1,435$928$582$356$214$165
39 years$1,383$883$545$328$194$148
40 years$1,333$840$511$303$176$133
41 years$1,286$799$479$279$159$120
42 years$1,241$761$450$258$145$108
43 years$1,199$725$422$238$131$97
44 years$1,158$691$396$220$119$87
45 years$1,120$659$372$203$108$78
46 years$1,083$629$349$187$98$71
47 years$1,048$600$328$173$89$64
48 years$1,015$573$308$160$81$57
49 years$983$547$290$148$74$52
50 years$952$523$272$137$67$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $975,000, adding $2,216 every year, while hoping to spend $44,759 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: 66/5/29 Blend
65$975,000$975,000$975,000$975,000
66$1,076,736$1,025,061$1,009,948$1,139,411
67$1,138,940$1,027,666$996,158$1,184,624
68$1,205,988$1,028,898$980,406$1,228,852
69$1,278,328$1,028,643$962,579$1,276,233
70$1,356,451$1,026,780$942,559$1,327,082
71$1,440,895$1,023,179$920,221$1,381,747
72$1,532,255$1,017,703$895,437$1,440,615
73$1,631,182$1,010,207$868,071$1,504,110
74$1,738,392$1,000,537$837,981$1,572,704
75$1,854,674$988,529$805,019$1,646,918
76$1,980,894$974,010$769,031$1,727,325
77$2,118,006$956,797$729,853$1,814,562
78$2,267,057$936,695$687,318$1,909,329
79$2,429,201$913,497$641,248$2,012,403
80$2,605,708$886,986$591,457$2,124,639
81$2,797,973$856,932$537,754$2,246,984
82$3,007,533$823,089$479,936$2,380,482
83$3,236,080$785,198$417,792$2,526,285
84$3,485,474$742,987$351,103$2,685,669
85$3,757,766$696,167$279,638$2,860,039
86$4,055,209$644,430$203,157$3,050,948
87$4,380,287$587,454$121,409$3,260,109
88$4,735,734$524,897$34,134$3,489,416
89$5,124,559$456,397$0$3,740,956
90$5,550,076$381,573$0$4,035,291
91$6,015,935$300,021$0$4,369,168
92$6,526,154$211,315$0$4,734,912
93$7,085,157$115,005$0$5,135,718
94$7,697,819$10,616$0$5,575,104
95$8,369,507$0$0$6,056,947
96$9,106,131$0$0$6,591,150
97$9,914,204$0$0$7,177,872
98$10,800,897$0$0$7,821,744
99$11,774,109$0$0$8,528,511
100$12,842,541$0$0$9,304,500