Can I retire at age 65 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$100,746$99,849$98,974$98,119$97,285$93,498
2 years$49,874$48,946$48,045$47,173$46,326$42,557
3 years$32,919$31,987$31,089$30,224$29,391$25,759
4 years$24,443$23,513$22,625$21,775$20,962$17,493
5 years$19,359$18,435$17,558$16,725$15,935$12,639
6 years$15,971$15,053$14,189$13,375$12,609$9,487
7 years$13,552$12,642$11,791$10,996$10,254$7,306
8 years$11,738$10,836$10,000$9,225$8,507$5,730
9 years$10,328$9,435$8,613$7,857$7,164$4,554
10 years$9,201$8,317$7,509$6,773$6,104$3,656
11 years$8,279$7,404$6,611$5,895$5,250$2,957
12 years$7,512$6,645$5,867$5,170$4,549$2,407
13 years$6,863$6,005$5,242$4,565$3,967$1,969
14 years$6,307$5,459$4,710$4,052$3,478$1,616
15 years$5,826$4,987$4,252$3,614$3,062$1,331
16 years$5,405$4,575$3,855$3,236$2,706$1,099
17 years$5,034$4,213$3,508$2,907$2,399$909
18 years$4,705$3,893$3,202$2,620$2,133$753
19 years$4,411$3,608$2,932$2,367$1,902$625
20 years$4,146$3,353$2,691$2,144$1,699$519
21 years$3,907$3,123$2,475$1,946$1,520$432
22 years$3,690$2,915$2,281$1,769$1,362$359
23 years$3,493$2,727$2,106$1,611$1,223$299
24 years$3,312$2,555$1,948$1,470$1,099$249
25 years$3,145$2,398$1,804$1,342$989$208
26 years$2,992$2,253$1,673$1,227$891$173
27 years$2,850$2,121$1,554$1,123$803$145
28 years$2,719$1,998$1,444$1,029$725$121
29 years$2,597$1,885$1,344$944$655$101
30 years$2,483$1,780$1,252$866$591$84
31 years$2,377$1,683$1,167$795$535$70
32 years$2,278$1,592$1,089$731$484$59
33 years$2,185$1,508$1,017$672$438$49
34 years$2,097$1,429$950$619$396$41
35 years$2,015$1,356$888$569$359$34
36 years$1,938$1,287$831$524$325$28
37 years$1,864$1,222$778$483$295$24
38 years$1,795$1,161$728$445$267$20
39 years$1,730$1,104$682$411$242$17
40 years$1,668$1,051$640$379$220$14
41 years$1,609$1,000$600$349$199$12
42 years$1,553$953$563$323$181$10
43 years$1,500$908$528$298$164$8
44 years$1,450$865$495$275$149$7
45 years$1,401$825$465$254$135$6
46 years$1,355$787$437$234$123$5
47 years$1,312$751$411$217$112$4
48 years$1,270$717$386$200$101$3
49 years$1,230$685$363$185$92$3
50 years$1,191$654$341$171$84$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,220,000, adding $3,946 every year, while hoping to spend $44,073 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: 69/13/18 Blend
64$1,220,000$1,220,000$1,220,000$1,220,000
65$1,348,510$1,283,850$1,264,940$1,435,439
66$1,439,165$1,299,866$1,260,422$1,509,933
67$1,537,589$1,315,189$1,254,276$1,585,842
68$1,644,529$1,329,739$1,246,400$1,667,802
69$1,760,806$1,343,430$1,236,689$1,756,406
70$1,887,321$1,356,171$1,225,031$1,852,309
71$2,025,068$1,367,864$1,211,310$1,956,230
72$2,175,141$1,378,406$1,195,405$2,068,964
73$2,338,742$1,387,684$1,177,188$2,191,386
74$2,517,195$1,395,582$1,156,525$2,324,464
75$2,711,957$1,401,974$1,133,277$2,469,260
76$2,924,632$1,406,726$1,107,297$2,626,951
77$3,156,986$1,409,697$1,078,433$2,798,830
78$3,410,962$1,410,735$1,046,524$2,986,326
79$3,688,701$1,409,682$1,011,402$3,191,013
80$3,992,558$1,406,366$972,894$3,414,627
81$4,325,128$1,400,607$930,815$3,659,082
82$4,689,268$1,392,214$884,975$3,926,490
83$5,088,125$1,380,984$835,173$4,219,177
84$5,525,162$1,366,700$781,200$4,539,710
85$6,004,195$1,349,136$722,837$4,890,919
86$6,529,428$1,328,047$659,856$5,275,923
87$7,105,487$1,303,179$592,019$5,698,163
88$7,737,471$1,274,259$519,076$6,161,432
89$8,430,995$1,241,000$440,766$6,669,912
90$9,192,243$1,203,096$356,819$7,228,215
91$10,028,030$1,160,226$266,951$7,841,423
92$10,945,860$1,112,047$170,864$8,515,143
93$11,954,000$1,058,200$68,250$9,255,554
94$13,061,557$998,301$0$10,069,469
95$14,278,565$931,947$0$10,972,323
96$15,616,077$858,711$0$11,978,979
97$17,086,270$778,141$0$13,085,510
98$18,702,559$689,759$0$14,302,052
99$20,479,724$593,062$0$15,639,775
100$22,434,050$487,516$0$17,110,987