Can I retire at age 65 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$92,489$91,665$90,861$90,076$89,310$85,767
2 years$45,786$44,934$44,107$43,306$42,529$39,003
3 years$30,221$29,365$28,540$27,747$26,982$23,584
4 years$22,440$21,586$20,770$19,990$19,244$16,000
5 years$17,772$16,924$16,118$15,354$14,629$11,548
6 years$14,662$13,820$13,026$12,279$11,575$8,659
7 years$12,441$11,606$10,825$10,095$9,414$6,661
8 years$10,776$9,948$9,180$8,469$7,810$5,217
9 years$9,482$8,662$7,907$7,213$6,577$4,141
10 years$8,447$7,635$6,893$6,218$5,604$3,320
11 years$7,601$6,797$6,069$5,411$4,819$2,683
12 years$6,896$6,100$5,386$4,747$4,176$2,181
13 years$6,300$5,513$4,812$4,191$3,642$1,781
14 years$5,790$5,011$4,324$3,720$3,193$1,460
15 years$5,348$4,578$3,904$3,317$2,811$1,201
16 years$4,962$4,200$3,539$2,970$2,484$990
17 years$4,622$3,868$3,221$2,669$2,203$818
18 years$4,319$3,574$2,940$2,405$1,959$677
19 years$4,049$3,313$2,691$2,173$1,746$561
20 years$3,807$3,078$2,470$1,968$1,559$465
21 years$3,587$2,867$2,272$1,786$1,395$386
22 years$3,388$2,677$2,094$1,624$1,251$321
23 years$3,206$2,503$1,933$1,479$1,123$267
24 years$3,040$2,345$1,788$1,349$1,009$222
25 years$2,888$2,201$1,656$1,232$908$185
26 years$2,747$2,069$1,536$1,127$818$154
27 years$2,617$1,947$1,426$1,031$737$128
28 years$2,496$1,834$1,326$945$665$107
29 years$2,384$1,731$1,234$866$601$89
30 years$2,280$1,634$1,149$795$543$74
31 years$2,182$1,545$1,071$730$491$62
32 years$2,091$1,462$1,000$671$444$51
33 years$2,006$1,384$933$617$402$43
34 years$1,925$1,312$872$568$364$36
35 years$1,850$1,245$815$523$330$30
36 years$1,779$1,181$763$481$299$25
37 years$1,712$1,122$714$444$271$21
38 years$1,648$1,066$669$409$245$17
39 years$1,588$1,014$626$377$222$14
40 years$1,531$965$587$348$202$12
41 years$1,477$918$551$321$183$10
42 years$1,426$874$516$296$166$8
43 years$1,377$833$485$273$151$7
44 years$1,331$794$455$252$137$6
45 years$1,286$757$427$233$124$5
46 years$1,244$723$401$215$113$4
47 years$1,204$689$377$199$102$3
48 years$1,166$658$354$184$93$3
49 years$1,129$629$333$170$84$2
50 years$1,094$600$313$157$77$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,120,000, adding $6,630 every year, while hoping to spend $59,026 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: 78/16/6 Blend
64$1,120,000$1,120,000$1,120,000$1,120,000
65$1,241,079$1,181,719$1,164,359$1,336,712
66$1,304,866$1,176,820$1,140,562$1,395,469
67$1,373,180$1,169,703$1,113,989$1,451,524
68$1,446,423$1,160,196$1,084,485$1,511,238
69$1,525,031$1,148,118$1,051,889$1,574,946
70$1,609,486$1,133,278$1,016,029$1,643,020
71$1,700,316$1,115,471$976,728$1,715,868
72$1,798,100$1,094,481$933,800$1,793,941
73$1,903,475$1,070,080$887,052$1,877,736
74$2,017,141$1,042,025$836,279$1,967,801
75$2,139,865$1,010,060$781,270$2,064,740
76$2,272,491$973,913$721,803$2,169,220
77$2,415,948$933,298$657,647$2,281,976
78$2,571,255$887,909$588,558$2,403,819
79$2,739,533$837,427$514,285$2,535,642
80$2,922,015$781,510$434,562$2,678,432
81$3,120,056$719,799$349,116$2,833,277
82$3,335,147$651,915$257,656$3,001,377
83$3,568,928$577,454$159,883$3,184,055
84$3,823,202$495,994$55,484$3,382,773
85$4,099,956$407,084$0$3,599,141
86$4,401,372$310,252$0$3,838,516
87$4,729,854$204,996$0$4,103,300
88$5,088,046$90,789$0$4,392,124
89$5,478,861$0$0$4,707,394
90$5,905,501$0$0$5,057,566
91$6,371,494$0$0$5,457,530
92$6,880,723$0$0$5,894,639
93$7,437,462$0$0$6,372,567
94$8,046,418$0$0$6,895,360
95$8,712,773$0$0$7,467,470
96$9,442,233$0$0$8,093,802
97$10,241,082$0$0$8,779,756
98$11,116,240$0$0$9,531,280
99$12,075,327$0$0$10,354,923
100$13,126,735$0$0$11,257,899