Can I retire at age 66 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$81,506$80,780$80,071$79,380$78,705$78,143
2 years$40,349$39,598$38,870$38,163$37,478$36,912
3 years$26,632$25,878$25,151$24,452$23,778$23,225
4 years$19,775$19,023$18,304$17,616$16,959$16,422
5 years$15,662$14,914$14,204$13,531$12,892$12,374
6 years$12,921$12,178$11,479$10,821$10,201$9,702
7 years$10,963$10,227$9,539$8,896$8,296$7,817
8 years$9,496$8,767$8,090$7,463$6,882$6,423
9 years$8,356$7,633$6,968$6,357$5,796$5,356
10 years$7,444$6,728$6,075$5,480$4,938$4,518
11 years$6,698$5,990$5,348$4,769$4,247$3,846
12 years$6,077$5,376$4,746$4,183$3,680$3,298
13 years$5,552$4,858$4,241$3,693$3,209$2,845
14 years$5,102$4,416$3,810$3,278$2,813$2,466
15 years$4,713$4,034$3,440$2,924$2,477$2,147
16 years$4,373$3,701$3,119$2,618$2,189$1,876
17 years$4,073$3,409$2,838$2,352$1,941$1,644
18 years$3,806$3,150$2,591$2,120$1,726$1,445
19 years$3,568$2,919$2,372$1,915$1,538$1,273
20 years$3,355$2,713$2,177$1,735$1,374$1,123
21 years$3,161$2,527$2,002$1,574$1,230$992
22 years$2,986$2,359$1,845$1,431$1,102$879
23 years$2,826$2,206$1,704$1,304$989$779
24 years$2,679$2,067$1,576$1,189$889$691
25 years$2,545$1,940$1,459$1,086$800$614
26 years$2,421$1,823$1,354$993$721$546
27 years$2,306$1,716$1,257$909$650$485
28 years$2,200$1,617$1,168$833$586$432
29 years$2,101$1,525$1,087$764$530$385
30 years$2,009$1,440$1,013$701$478$343
31 years$1,923$1,362$944$644$433$306
32 years$1,843$1,288$881$591$391$273
33 years$1,768$1,220$823$544$354$244
34 years$1,697$1,156$769$500$321$218
35 years$1,630$1,097$719$461$290$194
36 years$1,568$1,041$672$424$263$174
37 years$1,508$989$629$391$238$155
38 years$1,452$940$589$360$216$139
39 years$1,400$893$552$332$196$124
40 years$1,349$850$517$306$178$111
41 years$1,302$809$485$283$161$99
42 years$1,257$771$455$261$146$89
43 years$1,214$734$427$241$133$79
44 years$1,173$700$401$222$121$71
45 years$1,134$667$376$205$109$63
46 years$1,097$637$354$190$99$57
47 years$1,061$608$332$175$90$51
48 years$1,027$580$312$162$82$45
49 years$995$554$293$150$74$41
50 years$964$529$276$138$68$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $987,000, adding $6,299 every year, while hoping to spend $24,547 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: 31/49/20 Blend
65$987,000$987,000$987,000$987,000
66$1,094,171$1,041,860$1,026,562$1,121,103
67$1,179,659$1,066,794$1,034,834$1,166,866
68$1,273,044$1,092,126$1,042,560$1,213,437
69$1,375,105$1,117,851$1,049,697$1,263,055
70$1,486,701$1,143,961$1,056,197$1,315,997
71$1,608,777$1,170,448$1,062,012$1,372,573
72$1,742,374$1,197,301$1,067,091$1,433,123
73$1,888,636$1,224,509$1,071,379$1,498,021
74$2,048,827$1,252,060$1,074,820$1,567,679
75$2,224,335$1,279,938$1,077,354$1,642,553
76$2,416,690$1,308,128$1,078,918$1,723,145
77$2,627,577$1,336,611$1,079,447$1,810,006
78$2,858,853$1,365,369$1,078,872$1,903,747
79$3,112,563$1,394,378$1,077,120$2,005,041
80$3,390,957$1,423,615$1,074,116$2,114,627
81$3,696,516$1,453,054$1,069,781$2,233,325
82$4,031,972$1,482,665$1,064,029$2,362,034
83$4,400,334$1,512,417$1,056,776$2,501,749
84$4,804,918$1,542,275$1,047,928$2,653,566
85$5,249,376$1,572,202$1,037,389$2,818,693
86$5,737,730$1,602,159$1,025,060$2,998,464
87$6,274,414$1,632,100$1,010,835$3,194,347
88$6,864,310$1,661,978$994,603$3,407,966
89$7,512,797$1,691,742$976,250$3,641,106
90$8,225,802$1,721,337$955,654$3,895,739
91$9,009,854$1,750,704$932,689$4,174,039
92$9,872,148$1,779,777$907,223$4,478,404
93$10,820,610$1,808,489$879,118$4,811,478
94$11,863,972$1,836,765$848,228$5,176,175
95$13,011,856$1,864,525$814,403$5,575,712
96$14,274,864$1,891,686$777,484$6,013,632
97$15,664,677$1,918,154$737,306$6,493,846
98$17,194,164$1,943,834$693,696$7,020,665
99$18,877,507$1,968,621$646,473$7,598,842
100$20,730,332$1,992,402$595,449$8,233,620