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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.1%
1 years$85,056$84,299$83,560$82,838$82,134$81,074
2 years$42,107$41,323$40,563$39,826$39,111$38,045
3 years$27,793$27,005$26,247$25,517$24,814$23,774
4 years$20,637$19,852$19,101$18,384$17,697$16,693
5 years$16,344$15,564$14,823$14,120$13,453$12,486
6 years$13,484$12,709$11,979$11,292$10,645$9,717
7 years$11,441$10,673$9,955$9,284$8,657$7,768
8 years$9,910$9,149$8,443$7,788$7,182$6,332
9 years$8,720$7,966$7,272$6,634$6,048$5,237
10 years$7,768$7,021$6,339$5,718$5,154$4,380
11 years$6,990$6,251$5,581$4,977$4,432$3,696
12 years$6,342$5,610$4,953$4,365$3,841$3,141
13 years$5,794$5,070$4,425$3,854$3,349$2,686
14 years$5,325$4,609$3,976$3,421$2,936$2,307
15 years$4,918$4,210$3,590$3,051$2,585$1,990
16 years$4,563$3,863$3,255$2,732$2,285$1,722
17 years$4,250$3,557$2,962$2,454$2,026$1,494
18 years$3,972$3,287$2,704$2,212$1,801$1,300
19 years$3,724$3,046$2,475$1,999$1,605$1,133
20 years$3,501$2,831$2,272$1,810$1,434$990
21 years$3,299$2,637$2,089$1,643$1,283$866
22 years$3,116$2,461$1,926$1,494$1,150$758
23 years$2,949$2,302$1,778$1,360$1,033$665
24 years$2,796$2,157$1,644$1,241$928$584
25 years$2,655$2,024$1,523$1,133$835$513
26 years$2,526$1,902$1,413$1,036$752$451
27 years$2,407$1,790$1,312$948$678$397
28 years$2,296$1,687$1,219$869$612$349
29 years$2,193$1,592$1,135$797$553$308
30 years$2,097$1,503$1,057$731$499$271
31 years$2,007$1,421$985$672$451$239
32 years$1,923$1,344$919$617$408$211
33 years$1,845$1,273$858$568$370$186
34 years$1,771$1,207$802$522$335$164
35 years$1,701$1,145$750$481$303$145
36 years$1,636$1,086$701$443$275$128
37 years$1,574$1,032$657$408$249$113
38 years$1,516$981$615$376$226$100
39 years$1,461$932$576$347$205$88
40 years$1,408$887$540$320$186$78
41 years$1,359$844$506$295$168$69
42 years$1,311$804$475$272$153$61
43 years$1,266$766$446$251$139$54
44 years$1,224$730$418$232$126$47
45 years$1,183$697$393$214$114$42
46 years$1,144$664$369$198$104$37
47 years$1,107$634$347$183$94$33
48 years$1,072$605$326$169$86$29
49 years$1,038$578$306$156$78$26
50 years$1,006$552$288$144$71$23

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 $2,598 every year, while hoping to spend $53,955 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: 61/31/8 Blend
64$1,030,000$1,030,000$1,030,000$1,030,000
65$1,137,740$1,083,150$1,067,185$1,205,061
66$1,196,382$1,078,816$1,045,528$1,246,094
67$1,259,196$1,072,462$1,021,337$1,284,398
68$1,326,553$1,063,932$994,470$1,324,830
69$1,398,856$1,053,059$964,780$1,367,597
70$1,476,549$1,039,669$932,110$1,412,928
71$1,560,120$1,023,575$896,298$1,461,075
72$1,650,104$1,004,582$857,175$1,512,322
73$1,747,087$982,479$814,563$1,566,980
74$1,851,716$957,046$768,277$1,625,396
75$1,964,699$928,050$718,123$1,687,955
76$2,086,817$895,243$663,898$1,755,084
77$2,218,924$858,361$605,391$1,827,256
78$2,361,963$817,130$542,380$1,904,996
79$2,516,968$771,254$474,634$1,988,884
80$2,685,077$720,424$401,913$2,079,565
81$2,867,541$664,311$323,964$2,177,753
82$3,065,738$602,570$240,524$2,284,238
83$3,281,180$534,833$151,319$2,399,898
84$3,515,534$460,713$56,061$2,525,702
85$3,770,632$379,801$0$2,662,724
86$4,048,489$291,664$0$2,816,045
87$4,351,326$195,847$0$2,988,450
88$4,681,583$91,865$0$3,176,633
89$5,041,949$0$0$3,382,235
90$5,435,382$0$0$3,614,162
91$5,865,139$0$0$3,901,805
92$6,334,804$0$0$4,216,236
93$6,848,325$0$0$4,560,107
94$7,410,046$0$0$4,936,339
95$8,024,755$0$0$5,348,145
96$8,697,718$0$0$5,799,068
97$9,434,738$0$0$6,293,005
98$10,242,205$0$0$6,834,250
99$11,127,155$0$0$7,427,532
100$12,097,337$0$0$8,078,058