Can I retire at age 66 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$81,175$80,452$79,747$79,058$78,386$75,695
2 years$40,186$39,437$38,712$38,009$37,327$34,643
3 years$26,524$25,773$25,049$24,353$23,682$21,090
4 years$19,695$18,946$18,229$17,545$16,890$14,409
5 years$15,599$14,854$14,147$13,476$12,839$10,477
6 years$12,868$12,129$11,433$10,777$10,159$7,916
7 years$10,919$10,186$9,501$8,860$8,262$6,139
8 years$9,458$8,731$8,057$7,433$6,854$4,849
9 years$8,322$7,602$6,940$6,331$5,772$3,882
10 years$7,413$6,701$6,050$5,457$4,918$3,140
11 years$6,671$5,965$5,327$4,750$4,230$2,560
12 years$6,052$5,354$4,727$4,166$3,666$2,100
13 years$5,530$4,839$4,223$3,678$3,196$1,732
14 years$5,082$4,398$3,795$3,265$2,802$1,434
15 years$4,694$4,018$3,426$2,912$2,467$1,191
16 years$4,355$3,686$3,106$2,607$2,180$992
17 years$4,056$3,395$2,827$2,342$1,933$828
18 years$3,791$3,137$2,580$2,111$1,719$692
19 years$3,554$2,907$2,362$1,907$1,532$580
20 years$3,341$2,702$2,168$1,728$1,369$486
21 years$3,148$2,517$1,994$1,568$1,225$408
22 years$2,974$2,349$1,838$1,426$1,098$343
23 years$2,814$2,197$1,697$1,298$985$288
24 years$2,668$2,059$1,569$1,184$886$242
25 years$2,534$1,932$1,454$1,081$797$204
26 years$2,411$1,816$1,348$989$718$172
27 years$2,297$1,709$1,252$905$647$145
28 years$2,191$1,610$1,164$829$584$122
29 years$2,093$1,519$1,083$760$527$103
30 years$2,001$1,434$1,009$698$477$87
31 years$1,915$1,356$940$641$431$73
32 years$1,835$1,283$877$589$390$62
33 years$1,760$1,215$819$542$353$52
34 years$1,690$1,152$765$498$319$44
35 years$1,624$1,092$716$459$289$37
36 years$1,561$1,037$669$423$262$31
37 years$1,502$985$627$389$238$26
38 years$1,447$936$587$359$215$22
39 years$1,394$890$550$331$195$19
40 years$1,344$847$515$305$177$16
41 years$1,297$806$483$282$161$13
42 years$1,252$768$453$260$146$11
43 years$1,209$731$425$240$132$9
44 years$1,168$697$399$221$120$8
45 years$1,129$665$375$205$109$7
46 years$1,092$634$352$189$99$6
47 years$1,057$605$331$175$90$5
48 years$1,023$578$311$161$82$4
49 years$991$552$292$149$74$3
50 years$960$527$275$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $983,000, adding $5,051 every year, while hoping to spend $56,657 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: 72/11/17 Blend
65$983,000$983,000$983,000$983,000
66$1,088,476$1,036,377$1,021,141$1,162,197
67$1,139,218$1,026,877$995,066$1,202,316
68$1,193,237$1,015,012$966,219$1,238,900
69$1,250,807$1,000,608$934,448$1,277,499
70$1,312,228$983,477$899,591$1,318,304
71$1,377,831$963,423$861,482$1,361,522
72$1,447,975$940,236$819,948$1,407,386
73$1,523,057$913,696$774,804$1,456,152
74$1,603,510$883,568$725,861$1,508,105
75$1,689,809$849,604$672,919$1,563,557
76$1,782,478$811,543$615,770$1,622,857
77$1,882,088$769,106$554,195$1,686,389
78$1,989,269$722,000$487,969$1,754,578
79$2,104,712$669,915$416,854$1,827,896
80$2,229,175$612,524$340,600$1,906,863
81$2,363,491$549,478$258,951$1,992,055
82$2,508,576$480,411$171,635$2,084,108
83$2,665,436$404,936$78,370$2,183,728
84$2,835,177$322,645$0$2,291,692
85$3,019,014$233,103$0$2,412,700
86$3,218,284$135,856$0$2,559,284
87$3,434,457$30,420$0$2,718,326
88$3,669,148$0$0$2,891,048
89$3,924,135$0$0$3,088,930
90$4,201,374$0$0$3,308,127
91$4,503,017$0$0$3,546,662
92$4,831,430$0$0$3,806,412
93$5,189,218$0$0$4,089,443
94$5,579,247$0$0$4,398,029
95$6,004,671$0$0$4,734,672
96$6,468,964$0$0$5,102,126
97$6,975,948$0$0$5,503,423
98$7,529,828$0$0$5,941,899
99$8,135,238$0$0$6,421,230
100$8,797,277$0$0$6,945,460