Can I retire at age 66 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$84,231$83,480$82,748$82,034$81,336$80,154
2 years$41,698$40,922$40,169$39,439$38,732$37,543
3 years$27,523$26,743$25,992$25,269$24,573$23,415
4 years$20,436$19,659$18,916$18,205$17,526$16,407
5 years$16,186$15,413$14,679$13,983$13,323$12,247
6 years$13,353$12,586$11,863$11,182$10,542$9,510
7 years$11,330$10,569$9,858$9,194$8,573$7,586
8 years$9,814$9,060$8,361$7,712$7,112$6,169
9 years$8,635$7,888$7,201$6,569$5,990$5,090
10 years$7,692$6,953$6,278$5,663$5,103$4,247
11 years$6,922$6,190$5,527$4,928$4,389$3,575
12 years$6,280$5,556$4,905$4,323$3,804$3,031
13 years$5,738$5,021$4,382$3,816$3,317$2,584
14 years$5,273$4,564$3,938$3,388$2,907$2,214
15 years$4,871$4,169$3,555$3,021$2,560$1,904
16 years$4,519$3,825$3,223$2,705$2,262$1,643
17 years$4,209$3,523$2,933$2,431$2,006$1,422
18 years$3,934$3,255$2,677$2,190$1,784$1,234
19 years$3,688$3,017$2,451$1,979$1,590$1,072
20 years$3,467$2,803$2,249$1,793$1,420$934
21 years$3,267$2,611$2,069$1,627$1,271$814
22 years$3,085$2,438$1,907$1,479$1,139$711
23 years$2,920$2,280$1,761$1,347$1,023$622
24 years$2,769$2,136$1,628$1,229$919$544
25 years$2,630$2,005$1,508$1,122$827$477
26 years$2,502$1,884$1,399$1,026$745$418
27 years$2,383$1,773$1,299$939$672$366
28 years$2,273$1,671$1,208$860$606$321
29 years$2,171$1,576$1,124$789$547$282
30 years$2,076$1,488$1,047$724$494$248
31 years$1,988$1,407$976$665$447$218
32 years$1,905$1,331$910$611$404$191
33 years$1,827$1,261$850$562$366$168
34 years$1,754$1,195$794$517$331$148
35 years$1,685$1,133$743$476$300$130
36 years$1,620$1,076$695$438$272$115
37 years$1,559$1,022$650$404$246$101
38 years$1,501$971$609$372$223$89
39 years$1,446$923$570$343$203$78
40 years$1,395$879$535$317$184$69
41 years$1,345$836$501$292$167$61
42 years$1,299$796$470$270$151$53
43 years$1,254$759$441$249$137$47
44 years$1,212$723$414$230$125$41
45 years$1,172$690$389$212$113$36
46 years$1,133$658$365$196$103$32
47 years$1,097$628$343$181$93$28
48 years$1,061$599$323$167$85$25
49 years$1,028$572$303$155$77$22
50 years$996$547$285$143$70$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,020,000, adding $4,741 every year, while hoping to spend $38,370 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: 45/36/19 Blend
65$1,020,000$1,020,000$1,020,000$1,020,000
66$1,128,930$1,074,870$1,059,060$1,173,371
67$1,203,256$1,086,714$1,053,713$1,216,847
68$1,283,877$1,097,851$1,046,901$1,259,786
69$1,371,394$1,108,208$1,038,535$1,305,546
70$1,466,470$1,117,704$1,028,520$1,354,410
71$1,569,832$1,126,254$1,016,757$1,406,685
72$1,682,282$1,133,767$1,003,145$1,462,715
73$1,804,700$1,140,146$987,576$1,522,878
74$1,938,055$1,145,289$969,935$1,587,596
75$2,083,414$1,149,087$950,106$1,657,331
76$2,241,953$1,151,422$927,964$1,732,600
77$2,414,961$1,152,171$903,381$1,813,969
78$2,603,864$1,151,204$876,221$1,902,070
79$2,810,225$1,148,380$846,341$1,997,597
80$3,035,770$1,143,552$813,595$2,101,322
81$3,282,395$1,136,563$777,828$2,214,095
82$3,552,191$1,127,247$738,877$2,336,859
83$3,847,459$1,115,426$696,573$2,470,654
84$4,170,731$1,100,913$650,740$2,616,632
85$4,524,799$1,083,511$601,192$2,776,065
86$4,912,734$1,063,008$547,738$2,950,360
87$5,337,920$1,039,183$490,174$3,141,071
88$5,804,083$1,011,799$428,291$3,349,916
89$6,315,329$980,606$361,868$3,578,792
90$6,876,178$945,341$290,676$3,829,798
91$7,491,609$905,724$214,474$4,105,249
92$8,167,106$861,458$133,013$4,407,705
93$8,908,713$812,230$46,030$4,739,992
94$9,723,082$757,711$0$5,105,232
95$10,617,546$697,548$0$5,516,360
96$11,600,181$631,373$0$5,978,271
97$12,679,884$558,795$0$6,485,887
98$13,866,455$479,399$0$7,043,913
99$15,170,694$392,749$0$7,657,537
100$16,604,495$298,385$0$8,332,484