Can I retire at age 66 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$80,597$79,879$79,179$78,495$77,828$76,696
2 years$39,900$39,156$38,436$37,738$37,061$35,923
3 years$26,336$25,589$24,871$24,179$23,513$22,405
4 years$19,555$18,811$18,100$17,420$16,770$15,699
5 years$15,487$14,748$14,046$13,380$12,748$11,719
6 years$12,777$12,043$11,351$10,700$10,087$9,100
7 years$10,841$10,113$9,433$8,797$8,203$7,259
8 years$9,390$8,669$8,000$7,380$6,806$5,903
9 years$8,262$7,548$6,890$6,286$5,731$4,871
10 years$7,361$6,653$6,007$5,418$4,883$4,064
11 years$6,623$5,923$5,289$4,716$4,200$3,421
12 years$6,009$5,316$4,693$4,136$3,639$2,900
13 years$5,490$4,804$4,193$3,652$3,174$2,473
14 years$5,046$4,367$3,768$3,242$2,782$2,118
15 years$4,661$3,989$3,402$2,891$2,450$1,822
16 years$4,324$3,660$3,084$2,589$2,165$1,572
17 years$4,027$3,371$2,806$2,326$1,920$1,361
18 years$3,764$3,115$2,562$2,096$1,707$1,181
19 years$3,529$2,887$2,345$1,894$1,521$1,026
20 years$3,317$2,682$2,152$1,715$1,359$894
21 years$3,126$2,499$1,980$1,557$1,216$779
22 years$2,952$2,332$1,825$1,415$1,090$681
23 years$2,794$2,181$1,685$1,289$978$595
24 years$2,649$2,044$1,558$1,176$879$521
25 years$2,516$1,918$1,443$1,074$791$456
26 years$2,394$1,803$1,338$982$713$400
27 years$2,280$1,697$1,243$899$643$350
28 years$2,175$1,599$1,155$823$580$308
29 years$2,078$1,508$1,075$755$524$270
30 years$1,987$1,424$1,002$693$473$237
31 years$1,902$1,346$934$636$428$208
32 years$1,822$1,274$871$585$387$183
33 years$1,748$1,206$813$538$350$161
34 years$1,678$1,143$760$495$317$142
35 years$1,612$1,085$711$456$287$125
36 years$1,550$1,029$665$420$260$110
37 years$1,492$978$622$387$236$96
38 years$1,436$929$583$356$214$85
39 years$1,384$884$546$329$194$75
40 years$1,334$841$512$303$176$66
41 years$1,287$800$480$280$160$58
42 years$1,243$762$450$258$145$51
43 years$1,200$726$422$238$131$45
44 years$1,160$692$396$220$119$40
45 years$1,121$660$372$203$108$35
46 years$1,084$630$350$188$98$31
47 years$1,049$601$328$173$89$27
48 years$1,016$574$309$160$81$24
49 years$984$548$290$148$74$21
50 years$953$523$273$137$67$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $976,000, adding $2,479 every year, while hoping to spend $54,111 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$976,000$976,000$976,000$976,000
66$1,078,109$1,026,381$1,011,253$1,159,871
67$1,130,503$1,019,100$987,556$1,206,702
68$1,186,427$1,009,649$961,252$1,250,852
69$1,246,184$997,864$932,196$1,297,720
70$1,310,107$983,571$900,237$1,347,554
71$1,378,560$966,588$865,217$1,400,629
72$1,451,942$946,720$826,971$1,457,247
73$1,530,692$923,760$785,326$1,517,740
74$1,615,289$897,491$740,101$1,582,478
75$1,706,261$867,682$691,107$1,651,865
76$1,804,189$834,087$638,148$1,726,348
77$1,909,708$796,449$581,018$1,806,423
78$2,023,517$754,494$519,501$1,892,632
79$2,146,383$707,931$453,372$1,985,579
80$2,279,151$656,456$382,396$2,085,925
81$2,422,746$599,745$306,328$2,194,403
82$2,578,189$537,455$224,913$2,311,820
83$2,746,599$469,225$137,882$2,439,067
84$2,929,208$394,673$44,957$2,577,128
85$3,127,370$313,395$0$2,727,087
86$3,342,576$224,965$0$2,896,503
87$3,576,463$128,933$0$3,086,381
88$3,830,835$24,823$0$3,292,930
89$4,107,674$0$0$3,517,800
90$4,409,162$0$0$3,773,439
91$4,737,702$0$0$4,055,318
92$5,095,934$0$0$4,362,704
93$5,486,769$0$0$4,698,097
94$5,913,406$0$0$5,064,247
95$6,379,371$0$0$5,464,184
96$6,888,543$0$0$5,901,240
97$7,445,191$0$0$6,379,087
98$8,054,020$0$0$6,901,766
99$8,720,206$0$0$7,473,726
100$9,449,449$0$0$8,099,868