Can I retire at age 65 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$85,056$84,299$83,560$82,838$82,134$80,873
2 years$42,107$41,323$40,563$39,826$39,111$37,844
3 years$27,793$27,005$26,247$25,517$24,814$23,580
4 years$20,637$19,852$19,101$18,384$17,697$16,506
5 years$16,344$15,564$14,823$14,120$13,453$12,308
6 years$13,484$12,709$11,979$11,292$10,645$9,547
7 years$11,441$10,673$9,955$9,284$8,657$7,607
8 years$9,910$9,149$8,443$7,788$7,182$6,179
9 years$8,720$7,966$7,272$6,634$6,048$5,092
10 years$7,768$7,021$6,339$5,718$5,154$4,244
11 years$6,990$6,251$5,581$4,977$4,432$3,568
12 years$6,342$5,610$4,953$4,365$3,841$3,021
13 years$5,794$5,070$4,425$3,854$3,349$2,572
14 years$5,325$4,609$3,976$3,421$2,936$2,201
15 years$4,918$4,210$3,590$3,051$2,585$1,890
16 years$4,563$3,863$3,255$2,732$2,285$1,629
17 years$4,250$3,557$2,962$2,454$2,026$1,408
18 years$3,972$3,287$2,704$2,212$1,801$1,220
19 years$3,724$3,046$2,475$1,999$1,605$1,059
20 years$3,501$2,831$2,272$1,810$1,434$920
21 years$3,299$2,637$2,089$1,643$1,283$801
22 years$3,116$2,461$1,926$1,494$1,150$699
23 years$2,949$2,302$1,778$1,360$1,033$610
24 years$2,796$2,157$1,644$1,241$928$533
25 years$2,655$2,024$1,523$1,133$835$466
26 years$2,526$1,902$1,413$1,036$752$408
27 years$2,407$1,790$1,312$948$678$357
28 years$2,296$1,687$1,219$869$612$313
29 years$2,193$1,592$1,135$797$553$274
30 years$2,097$1,503$1,057$731$499$240
31 years$2,007$1,421$985$672$451$211
32 years$1,923$1,344$919$617$408$185
33 years$1,845$1,273$858$568$370$162
34 years$1,771$1,207$802$522$335$143
35 years$1,701$1,145$750$481$303$125
36 years$1,636$1,086$701$443$275$110
37 years$1,574$1,032$657$408$249$97
38 years$1,516$981$615$376$226$85
39 years$1,461$932$576$347$205$75
40 years$1,408$887$540$320$186$66
41 years$1,359$844$506$295$168$58
42 years$1,311$804$475$272$153$51
43 years$1,266$766$446$251$139$45
44 years$1,224$730$418$232$126$39
45 years$1,183$697$393$214$114$34
46 years$1,144$664$369$198$104$30
47 years$1,107$634$347$183$94$27
48 years$1,072$605$326$169$86$23
49 years$1,038$578$306$156$78$21
50 years$1,006$552$288$144$71$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,030,000, adding $3,120 every year, while hoping to spend $56,298 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: 53/42/5 Blend
64$1,030,000$1,030,000$1,030,000$1,030,000
65$1,138,278$1,083,688$1,067,723$1,197,203
66$1,194,482$1,076,888$1,043,591$1,230,604
67$1,254,532$1,067,868$1,016,764$1,260,460
68$1,318,760$1,056,460$987,092$1,291,562
69$1,387,532$1,042,485$954,418$1,324,037
70$1,461,248$1,025,755$918,579$1,358,026
71$1,540,347$1,006,068$879,403$1,393,690
72$1,625,311$983,214$836,711$1,431,207
73$1,716,668$956,967$790,316$1,470,777
74$1,814,999$927,089$740,023$1,512,625
75$1,920,942$893,330$685,627$1,557,002
76$2,035,197$855,421$626,914$1,604,188
77$2,158,532$813,082$563,661$1,654,497
78$2,291,794$766,015$495,635$1,708,280
79$2,435,911$713,904$422,593$1,765,929
80$2,591,904$656,415$344,280$1,827,878
81$2,760,895$593,197$260,430$1,894,616
82$2,944,119$523,876$170,767$1,966,684
83$3,142,933$448,059$75,001$2,044,688
84$3,358,829$365,331$0$2,129,300
85$3,593,448$275,251$0$2,222,720
86$3,848,598$177,356$0$2,328,696
87$4,126,264$71,156$0$2,444,166
88$4,428,633$0$0$2,570,180
89$4,758,111$0$0$2,728,176
90$5,117,344$0$0$2,936,389
91$5,509,248$0$0$3,163,632
92$5,937,029$0$0$3,411,777
93$6,404,217$0$0$3,682,886
94$6,914,699$0$0$3,979,225
95$7,472,754$0$0$4,303,292
96$8,083,092$0$0$4,657,837
97$8,750,900$0$0$5,045,887
98$9,481,890$0$0$5,470,776
99$10,282,350$0$0$5,936,175
100$11,159,207$0$0$6,446,128