Can I retire at age 66 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$85,882$85,117$84,371$83,642$82,931$80,020
2 years$42,516$41,724$40,957$40,213$39,491$36,589
3 years$28,062$27,267$26,502$25,765$25,055$22,253
4 years$20,837$20,044$19,286$18,562$17,869$15,189
5 years$16,503$15,715$14,967$14,257$13,584$11,032
6 years$13,615$12,832$12,096$11,402$10,748$8,327
7 years$11,552$10,777$10,052$9,374$8,741$6,450
8 years$10,006$9,238$8,524$7,864$7,252$5,088
9 years$8,804$8,043$7,342$6,698$6,107$4,069
10 years$7,843$7,089$6,401$5,774$5,204$3,287
11 years$7,058$6,311$5,635$5,025$4,475$2,676
12 years$6,403$5,665$5,001$4,408$3,878$2,193
13 years$5,850$5,119$4,468$3,891$3,382$1,806
14 years$5,376$4,653$4,015$3,454$2,964$1,493
15 years$4,966$4,251$3,625$3,081$2,610$1,238
16 years$4,608$3,900$3,286$2,758$2,307$1,030
17 years$4,292$3,592$2,991$2,478$2,045$858
18 years$4,011$3,319$2,730$2,233$1,819$717
19 years$3,760$3,076$2,499$2,018$1,621$599
20 years$3,535$2,858$2,294$1,828$1,448$502
21 years$3,331$2,662$2,110$1,659$1,296$420
22 years$3,146$2,485$1,944$1,508$1,161$353
23 years$2,977$2,324$1,795$1,374$1,043$296
24 years$2,823$2,178$1,660$1,253$937$249
25 years$2,681$2,044$1,538$1,144$843$209
26 years$2,551$1,921$1,426$1,046$760$176
27 years$2,430$1,808$1,324$958$685$148
28 years$2,318$1,703$1,231$877$618$124
29 years$2,214$1,607$1,146$805$558$104
30 years$2,117$1,518$1,067$738$504$88
31 years$2,027$1,435$995$678$456$74
32 years$1,942$1,357$928$623$412$62
33 years$1,862$1,286$867$573$373$52
34 years$1,788$1,218$810$527$338$44
35 years$1,718$1,156$757$485$306$37
36 years$1,652$1,097$708$447$277$31
37 years$1,589$1,042$663$412$251$26
38 years$1,530$990$621$380$228$22
39 years$1,475$941$582$350$207$19
40 years$1,422$896$545$323$187$16
41 years$1,372$853$511$298$170$13
42 years$1,324$812$480$275$154$11
43 years$1,279$774$450$254$140$9
44 years$1,236$738$422$234$127$8
45 years$1,195$703$397$216$115$7
46 years$1,155$671$372$200$105$6
47 years$1,118$640$350$185$95$5
48 years$1,082$611$329$171$86$4
49 years$1,048$584$309$158$78$3
50 years$1,015$558$291$146$71$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,040,000, adding $5,191 every year, while hoping to spend $54,597 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: 59/11/30 Blend
65$1,040,000$1,040,000$1,040,000$1,040,000
66$1,151,435$1,096,315$1,080,195$1,209,653
67$1,210,790$1,091,943$1,058,290$1,245,747
68$1,274,370$1,085,528$1,033,822$1,278,897
69$1,342,548$1,076,910$1,006,647$1,313,947
70$1,415,732$1,065,924$976,615$1,351,098
71$1,494,374$1,052,391$943,568$1,390,574
72$1,578,965$1,036,123$907,343$1,432,621
73$1,670,048$1,016,921$867,767$1,477,516
74$1,768,217$994,575$824,661$1,525,567
75$1,874,125$968,859$777,838$1,577,114
76$1,988,491$939,539$727,101$1,632,536
77$2,112,104$906,363$672,245$1,692,253
78$2,245,830$869,066$613,057$1,756,732
79$2,390,622$827,367$549,312$1,826,492
80$2,547,528$780,971$480,776$1,902,107
81$2,717,700$729,562$407,206$1,984,214
82$2,902,404$672,810$328,346$2,073,519
83$3,103,035$610,363$243,931$2,170,807
84$3,321,124$541,851$153,683$2,276,944
85$3,558,358$466,881$57,311$2,392,893
86$3,816,592$385,040$0$2,519,717
87$4,097,868$295,890$0$2,673,172
88$4,404,431$198,969$0$2,860,512
89$4,738,754$93,789$0$3,064,922
90$5,103,557$0$0$3,288,112
91$5,501,836$0$0$3,534,406
92$5,936,888$0$0$3,815,921
93$6,412,341$0$0$4,123,661
94$6,932,193$0$0$4,460,225
95$7,500,841$0$0$4,828,470
96$8,123,132$0$0$5,231,545
97$8,804,397$0$0$5,672,917
98$9,550,512$0$0$6,156,403
99$10,367,945$0$0$6,686,207
100$11,263,819$0$0$7,266,960