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%16.5%
1 years$80,515$79,797$79,098$78,415$77,748$75,684
2 years$39,859$39,116$38,397$37,699$37,023$34,958
3 years$26,309$25,563$24,845$24,154$23,489$21,488
4 years$19,535$18,791$18,081$17,402$16,752$14,830
5 years$15,472$14,733$14,032$13,366$12,735$10,897
6 years$12,764$12,030$11,340$10,689$10,077$8,325
7 years$10,830$10,103$9,423$8,788$8,195$6,529
8 years$9,381$8,660$7,992$7,372$6,799$5,218
9 years$8,254$7,540$6,883$6,279$5,725$4,229
10 years$7,353$6,646$6,001$5,413$4,878$3,464
11 years$6,617$5,917$5,283$4,711$4,196$2,861
12 years$6,003$5,311$4,689$4,132$3,636$2,378
13 years$5,485$4,799$4,189$3,648$3,170$1,988
14 years$5,040$4,362$3,764$3,238$2,779$1,669
15 years$4,656$3,985$3,398$2,888$2,447$1,406
16 years$4,320$3,656$3,081$2,586$2,163$1,188
17 years$4,023$3,367$2,804$2,323$1,918$1,006
18 years$3,760$3,112$2,559$2,094$1,705$854
19 years$3,525$2,884$2,343$1,892$1,520$726
20 years$3,314$2,680$2,150$1,714$1,357$618
21 years$3,123$2,496$1,978$1,555$1,215$527
22 years$2,949$2,330$1,823$1,414$1,089$449
23 years$2,791$2,179$1,683$1,288$977$384
24 years$2,647$2,042$1,557$1,174$879$328
25 years$2,514$1,916$1,442$1,073$791$281
26 years$2,391$1,801$1,337$981$712$240
27 years$2,278$1,695$1,242$898$642$205
28 years$2,173$1,597$1,154$822$579$176
29 years$2,076$1,507$1,074$754$523$151
30 years$1,985$1,423$1,000$692$473$129
31 years$1,900$1,345$933$636$427$111
32 years$1,820$1,273$870$584$387$95
33 years$1,746$1,205$813$537$350$81
34 years$1,676$1,142$759$494$317$70
35 years$1,610$1,083$710$455$287$60
36 years$1,549$1,028$664$419$260$51
37 years$1,490$977$622$386$236$44
38 years$1,435$928$582$356$214$38
39 years$1,383$883$545$328$194$32
40 years$1,333$840$511$303$176$28
41 years$1,286$799$479$279$159$24
42 years$1,241$761$450$258$145$20
43 years$1,199$725$422$238$131$18
44 years$1,158$691$396$220$119$15
45 years$1,120$659$372$203$108$13
46 years$1,083$629$349$187$98$11
47 years$1,048$600$328$173$89$10
48 years$1,015$573$308$160$81$8
49 years$983$547$290$148$74$7
50 years$952$523$272$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $975,000, adding $6,835 every year, while hoping to spend $34,288 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: 78/14/8 Blend
65$975,000$975,000$975,000$975,000
66$1,081,500$1,029,825$1,014,713$1,164,123
67$1,155,331$1,043,805$1,012,224$1,233,311
68$1,235,544$1,057,320$1,008,502$1,304,038
69$1,322,752$1,070,312$1,003,470$1,380,596
70$1,417,634$1,082,717$997,046$1,463,552
71$1,520,931$1,094,470$989,147$1,553,528
72$1,633,465$1,105,497$979,682$1,651,210
73$1,756,135$1,115,723$968,557$1,757,354
74$1,889,932$1,125,065$955,676$1,872,791
75$2,035,950$1,133,438$940,936$1,998,440
76$2,195,388$1,140,748$924,228$2,135,311
77$2,369,570$1,146,897$905,442$2,284,515
78$2,559,952$1,151,780$884,460$2,447,282
79$2,768,135$1,155,286$861,158$2,624,961
80$2,995,887$1,157,297$835,408$2,819,041
81$3,245,149$1,157,686$807,076$3,031,165
82$3,518,062$1,156,320$776,021$3,263,140
83$3,816,982$1,153,057$742,095$3,516,958
84$4,144,504$1,147,747$705,146$3,794,817
85$4,503,487$1,140,230$665,011$4,099,135
86$4,897,077$1,130,336$621,524$4,432,580
87$5,328,742$1,117,886$574,508$4,798,091
88$5,802,300$1,102,689$523,781$5,198,907
89$6,321,957$1,084,543$469,149$5,638,598
90$6,892,345$1,063,234$410,415$6,121,097
91$7,518,568$1,038,536$347,367$6,650,742
92$8,206,246$1,010,208$279,788$7,232,311
93$8,961,572$977,997$207,450$7,871,070
94$9,791,367$941,634$130,114$8,572,824
95$10,703,147$900,835$47,533$9,343,970
96$11,705,189$855,297$0$10,191,559
97$12,806,615$804,703$0$11,126,827
98$14,017,473$748,716$0$12,159,428
99$15,348,832$686,981$0$13,294,764
100$16,812,890$619,119$0$14,543,263