Can I retire at age 66 with 1,030,000?

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 $1,030,000?

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$85,056$84,299$83,560$82,838$82,134$80,940
2 years$42,107$41,323$40,563$39,826$39,111$37,911
3 years$27,793$27,005$26,247$25,517$24,814$23,644
4 years$20,637$19,852$19,101$18,384$17,697$16,568
5 years$16,344$15,564$14,823$14,120$13,453$12,367
6 years$13,484$12,709$11,979$11,292$10,645$9,603
7 years$11,441$10,673$9,955$9,284$8,657$7,660
8 years$9,910$9,149$8,443$7,788$7,182$6,230
9 years$8,720$7,966$7,272$6,634$6,048$5,140
10 years$7,768$7,021$6,339$5,718$5,154$4,289
11 years$6,990$6,251$5,581$4,977$4,432$3,610
12 years$6,342$5,610$4,953$4,365$3,841$3,060
13 years$5,794$5,070$4,425$3,854$3,349$2,609
14 years$5,325$4,609$3,976$3,421$2,936$2,236
15 years$4,918$4,210$3,590$3,051$2,585$1,923
16 years$4,563$3,863$3,255$2,732$2,285$1,659
17 years$4,250$3,557$2,962$2,454$2,026$1,436
18 years$3,972$3,287$2,704$2,212$1,801$1,246
19 years$3,724$3,046$2,475$1,999$1,605$1,083
20 years$3,501$2,831$2,272$1,810$1,434$943
21 years$3,299$2,637$2,089$1,643$1,283$822
22 years$3,116$2,461$1,926$1,494$1,150$718
23 years$2,949$2,302$1,778$1,360$1,033$628
24 years$2,796$2,157$1,644$1,241$928$549
25 years$2,655$2,024$1,523$1,133$835$481
26 years$2,526$1,902$1,413$1,036$752$422
27 years$2,407$1,790$1,312$948$678$370
28 years$2,296$1,687$1,219$869$612$325
29 years$2,193$1,592$1,135$797$553$285
30 years$2,097$1,503$1,057$731$499$250
31 years$2,007$1,421$985$672$451$220
32 years$1,923$1,344$919$617$408$193
33 years$1,845$1,273$858$568$370$170
34 years$1,771$1,207$802$522$335$149
35 years$1,701$1,145$750$481$303$131
36 years$1,636$1,086$701$443$275$116
37 years$1,574$1,032$657$408$249$102
38 years$1,516$981$615$376$226$90
39 years$1,461$932$576$347$205$79
40 years$1,408$887$540$320$186$69
41 years$1,359$844$506$295$168$61
42 years$1,311$804$475$272$153$54
43 years$1,266$766$446$251$139$47
44 years$1,224$730$418$232$126$42
45 years$1,183$697$393$214$114$37
46 years$1,144$664$369$198$104$32
47 years$1,107$634$347$183$94$28
48 years$1,072$605$326$169$86$25
49 years$1,038$578$306$156$78$22
50 years$1,006$552$288$144$71$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,030,000, adding $5,482 every year, while hoping to spend $37,497 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: 89/5/6 Blend
65$1,030,000$1,030,000$1,030,000$1,030,000
66$1,140,715$1,086,125$1,070,160$1,241,579
67$1,217,171$1,099,448$1,066,114$1,321,353
68$1,300,169$1,112,168$1,060,675$1,403,205
69$1,390,337$1,124,215$1,053,758$1,491,966
70$1,488,365$1,135,514$1,045,272$1,588,303
71$1,595,012$1,145,989$1,035,123$1,692,952
72$1,711,114$1,155,553$1,023,211$1,806,722
73$1,837,591$1,164,119$1,009,432$1,930,503
74$1,975,456$1,171,591$993,678$2,065,276
75$2,125,821$1,177,867$975,834$2,212,123
76$2,289,912$1,182,841$955,783$2,372,231
77$2,469,080$1,186,396$933,398$2,546,912
78$2,664,809$1,188,412$908,549$2,737,607
79$2,878,734$1,188,760$881,101$2,945,905
80$3,112,657$1,187,300$850,909$3,173,557
81$3,368,558$1,183,889$817,826$3,422,489
82$3,648,622$1,178,370$781,694$3,694,825
83$3,955,251$1,170,580$742,350$3,992,902
84$4,291,092$1,160,344$699,624$4,319,299
85$4,659,060$1,147,477$653,338$4,676,852
86$5,062,364$1,131,783$603,305$5,068,688
87$5,504,539$1,113,055$549,330$5,498,251
88$5,989,480$1,091,072$491,210$5,969,337
89$6,521,474$1,065,602$428,732$6,486,125
90$7,105,245$1,036,397$361,676$7,053,223
91$7,745,996$1,003,197$289,808$7,675,705
92$8,449,458$965,724$212,887$8,359,163
93$9,221,944$923,686$130,660$9,109,759
94$10,070,410$876,773$42,864$9,934,280
95$11,002,515$824,659$0$10,840,206
96$12,026,700$766,995$0$11,839,035
97$13,152,263$703,417$0$12,939,732
98$14,389,446$633,538$0$14,149,578
99$15,749,535$556,947$0$15,479,618
100$17,244,963$473,212$0$16,942,024