Can I retire at age 66 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$83,405$82,662$81,937$81,230$80,539$78,433
2 years$41,290$40,521$39,775$39,053$38,352$36,244
3 years$27,253$26,481$25,737$25,021$24,332$22,289
4 years$20,236$19,466$18,730$18,027$17,354$15,391
5 years$16,027$15,262$14,535$13,846$13,192$11,315
6 years$13,222$12,462$11,747$11,073$10,438$8,649
7 years$11,219$10,466$9,762$9,104$8,489$6,787
8 years$9,717$8,971$8,279$7,637$7,043$5,428
9 years$8,550$7,811$7,130$6,505$5,931$4,401
10 years$7,617$6,885$6,216$5,607$5,053$3,607
11 years$6,854$6,129$5,473$4,880$4,346$2,981
12 years$6,219$5,501$4,857$4,280$3,766$2,480
13 years$5,681$4,972$4,339$3,779$3,284$2,074
14 years$5,221$4,519$3,899$3,355$2,879$1,743
15 years$4,823$4,128$3,520$2,992$2,535$1,469
16 years$4,475$3,788$3,192$2,679$2,240$1,242
17 years$4,168$3,488$2,904$2,407$1,986$1,053
18 years$3,895$3,223$2,651$2,169$1,766$894
19 years$3,652$2,987$2,427$1,960$1,574$761
20 years$3,433$2,776$2,227$1,775$1,406$648
21 years$3,235$2,586$2,049$1,611$1,258$553
22 years$3,055$2,414$1,888$1,465$1,128$472
23 years$2,891$2,257$1,743$1,334$1,013$403
24 years$2,742$2,115$1,612$1,217$910$345
25 years$2,604$1,985$1,493$1,111$819$295
26 years$2,477$1,865$1,385$1,016$738$253
27 years$2,360$1,756$1,286$930$665$217
28 years$2,251$1,654$1,196$852$600$186
29 years$2,150$1,561$1,113$781$542$159
30 years$2,056$1,474$1,036$717$490$137
31 years$1,968$1,393$966$659$443$117
32 years$1,886$1,318$901$605$400$101
33 years$1,809$1,248$842$557$362$86
34 years$1,736$1,183$786$512$328$74
35 years$1,668$1,122$735$471$297$64
36 years$1,604$1,065$688$434$269$55
37 years$1,544$1,012$644$400$244$47
38 years$1,486$962$603$369$221$40
39 years$1,432$914$565$340$201$35
40 years$1,381$870$529$314$182$30
41 years$1,332$828$496$289$165$25
42 years$1,286$789$466$267$150$22
43 years$1,242$751$437$246$136$19
44 years$1,200$716$410$228$123$16
45 years$1,160$683$385$210$112$14
46 years$1,122$652$362$194$102$12
47 years$1,086$622$340$179$92$10
48 years$1,051$594$319$166$84$9
49 years$1,018$567$300$153$76$8
50 years$986$541$282$142$69$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,010,000, adding $3,253 every year, while hoping to spend $43,011 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: 54/37/9 Blend
65$1,010,000$1,010,000$1,010,000$1,010,000
66$1,116,375$1,062,845$1,047,190$1,174,004
67$1,184,482$1,069,162$1,036,508$1,219,735
68$1,258,095$1,074,346$1,024,026$1,264,501
69$1,337,728$1,078,297$1,009,639$1,312,198
70$1,423,951$1,080,907$993,236$1,363,112
71$1,517,386$1,082,064$974,702$1,417,559
72$1,618,720$1,081,646$953,915$1,475,889
73$1,728,706$1,079,523$930,748$1,538,489
74$1,848,175$1,075,560$905,068$1,605,788
75$1,978,038$1,069,612$876,738$1,678,260
76$2,119,300$1,061,525$845,610$1,756,429
77$2,273,065$1,051,136$811,535$1,840,875
78$2,440,548$1,038,273$774,352$1,932,239
79$2,623,087$1,022,751$733,895$2,031,231
80$2,822,154$1,004,377$689,992$2,138,636
81$3,039,367$982,946$642,461$2,255,321
82$3,276,512$958,239$591,112$2,382,245
83$3,535,549$930,026$535,748$2,520,467
84$3,818,640$898,062$476,161$2,671,162
85$4,128,165$862,091$412,135$2,835,623
86$4,466,742$821,837$343,446$3,015,282
87$4,837,255$777,012$269,857$3,211,722
88$5,242,879$727,311$191,122$3,426,692
89$5,687,113$672,409$106,984$3,662,122
90$6,173,806$611,965$17,176$3,920,147
91$6,707,201$545,617$0$4,203,125
92$7,291,967$472,984$0$4,521,214
93$7,933,248$393,661$0$4,871,988
94$8,636,713$307,223$0$5,257,002
95$9,408,599$213,219$0$5,679,795
96$10,255,784$111,174$0$6,144,273
97$11,185,837$585$0$6,654,747
98$12,207,100$0$0$7,215,974
99$13,328,763$0$0$7,881,688
100$14,560,945$0$0$8,613,360