Can I retire at age 65 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$102,398$101,486$100,596$99,727$98,879$96,372
2 years$50,692$49,748$48,833$47,946$47,085$44,575
3 years$33,459$32,511$31,598$30,719$29,873$27,439
4 years$24,844$23,899$22,995$22,132$21,306$18,966
5 years$19,677$18,737$17,845$16,999$16,196$13,958
6 years$16,233$15,300$14,422$13,594$12,815$10,681
7 years$13,774$12,849$11,985$11,177$10,422$8,391
8 years$11,930$11,014$10,164$9,376$8,646$6,718
9 years$10,497$9,590$8,754$7,986$7,282$5,454
10 years$9,352$8,453$7,632$6,884$6,204$4,476
11 years$8,415$7,525$6,719$5,991$5,336$3,704
12 years$7,635$6,754$5,963$5,255$4,624$3,085
13 years$6,975$6,104$5,328$4,640$4,032$2,584
14 years$6,410$5,548$4,787$4,118$3,535$2,174
15 years$5,921$5,068$4,322$3,673$3,112$1,835
16 years$5,494$4,650$3,918$3,289$2,750$1,554
17 years$5,117$4,283$3,566$2,955$2,439$1,319
18 years$4,782$3,957$3,255$2,663$2,168$1,122
19 years$4,483$3,668$2,980$2,406$1,933$956
20 years$4,214$3,408$2,735$2,179$1,726$816
21 years$3,971$3,174$2,515$1,978$1,545$697
22 years$3,751$2,963$2,318$1,798$1,385$596
23 years$3,550$2,771$2,141$1,638$1,243$510
24 years$3,366$2,597$1,980$1,494$1,117$437
25 years$3,197$2,437$1,834$1,364$1,005$375
26 years$3,041$2,290$1,701$1,247$906$321
27 years$2,897$2,155$1,579$1,142$817$276
28 years$2,764$2,031$1,468$1,046$737$237
29 years$2,640$1,916$1,366$959$665$203
30 years$2,524$1,810$1,272$880$601$175
31 years$2,416$1,711$1,186$809$543$150
32 years$2,315$1,619$1,107$743$492$129
33 years$2,221$1,533$1,033$683$445$111
34 years$2,132$1,453$966$629$403$95
35 years$2,048$1,378$903$579$365$82
36 years$1,969$1,308$844$533$331$70
37 years$1,895$1,242$790$491$300$61
38 years$1,825$1,180$740$453$272$52
39 years$1,758$1,123$693$417$246$45
40 years$1,695$1,068$650$385$223$39
41 years$1,635$1,017$609$355$203$33
42 years$1,579$968$572$328$184$29
43 years$1,525$922$536$303$167$25
44 years$1,473$879$504$279$152$21
45 years$1,424$839$473$258$138$18
46 years$1,378$800$444$238$125$16
47 years$1,333$763$417$220$113$13
48 years$1,290$729$392$203$103$12
49 years$1,250$696$369$188$94$10
50 years$1,211$665$346$174$85$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,240,000, adding $4,585 every year, while hoping to spend $46,335 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: 64/29/7 Blend
64$1,240,000$1,240,000$1,240,000$1,240,000
65$1,371,209$1,305,489$1,286,269$1,456,898
66$1,461,773$1,320,158$1,280,059$1,529,205
67$1,560,020$1,333,993$1,272,088$1,602,256
68$1,666,688$1,346,904$1,262,248$1,680,833
69$1,782,583$1,358,795$1,250,426$1,765,469
70$1,908,594$1,369,564$1,236,504$1,856,751
71$2,045,701$1,379,103$1,220,357$1,955,327
72$2,194,980$1,387,296$1,201,856$2,061,913
73$2,357,614$1,394,020$1,180,865$2,177,295
74$2,534,907$1,399,144$1,157,240$2,302,344
75$2,728,295$1,402,528$1,130,835$2,438,018
76$2,939,354$1,404,026$1,101,491$2,585,375
77$3,169,824$1,403,479$1,069,047$2,745,581
78$3,421,618$1,400,721$1,033,332$2,919,922
79$3,696,841$1,395,575$994,167$3,109,817
80$3,997,814$1,387,852$951,366$3,316,831
81$4,327,088$1,377,354$904,734$3,542,691
82$4,687,475$1,363,869$854,066$3,789,299
83$5,082,071$1,347,172$799,151$4,058,756
84$5,514,284$1,327,026$739,765$4,353,378
85$5,987,870$1,303,178$675,675$4,675,719
86$6,506,961$1,275,363$606,639$5,028,597
87$7,076,113$1,243,297$532,403$5,415,119
88$7,700,339$1,206,681$452,701$5,838,712
89$8,385,164$1,165,199$367,257$6,303,156
90$9,136,671$1,118,515$275,781$6,812,619
91$9,961,564$1,066,274$177,972$7,371,699
92$10,867,223$1,008,101$73,514$7,985,464
93$11,861,782$943,600$0$8,659,508
94$12,954,198$872,350$0$9,402,829
95$14,154,339$793,909$0$10,225,437
96$15,473,077$707,806$0$11,129,360
97$16,922,390$613,547$0$12,122,894
98$18,515,470$510,607$0$13,215,185
99$20,266,855$398,434$0$14,416,317
100$22,192,559$276,442$0$15,737,408