Can I retire at age 66 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$86,708$85,936$85,182$84,447$83,728$80,598
2 years$42,925$42,125$41,351$40,599$39,871$36,752
3 years$28,332$27,529$26,757$26,012$25,296$22,288
4 years$21,037$20,237$19,472$18,740$18,041$15,166
5 years$16,662$15,866$15,111$14,394$13,715$10,981
6 years$13,745$12,956$12,212$11,511$10,852$8,261
7 years$11,663$10,880$10,148$9,464$8,825$6,377
8 years$10,102$9,326$8,606$7,939$7,322$5,013
9 years$8,889$8,120$7,413$6,762$6,166$3,994
10 years$7,919$7,158$6,463$5,829$5,254$3,214
11 years$7,125$6,372$5,690$5,073$4,518$2,607
12 years$6,465$5,719$5,049$4,450$3,915$2,127
13 years$5,906$5,168$4,511$3,929$3,414$1,745
14 years$5,428$4,698$4,053$3,487$2,993$1,436
15 years$5,014$4,292$3,660$3,110$2,635$1,186
16 years$4,652$3,938$3,318$2,785$2,329$982
17 years$4,333$3,626$3,019$2,502$2,065$815
18 years$4,049$3,351$2,756$2,255$1,836$677
19 years$3,796$3,106$2,523$2,037$1,637$564
20 years$3,569$2,886$2,316$1,845$1,462$470
21 years$3,363$2,688$2,130$1,675$1,308$392
22 years$3,176$2,509$1,963$1,523$1,173$327
23 years$3,006$2,347$1,813$1,387$1,053$273
24 years$2,850$2,199$1,676$1,265$946$228
25 years$2,707$2,063$1,553$1,155$851$191
26 years$2,575$1,939$1,440$1,056$767$160
27 years$2,453$1,825$1,337$967$691$134
28 years$2,340$1,720$1,243$886$624$112
29 years$2,235$1,622$1,157$812$563$94
30 years$2,137$1,532$1,077$745$509$78
31 years$2,046$1,448$1,004$685$460$66
32 years$1,961$1,371$937$629$416$55
33 years$1,880$1,298$875$579$377$46
34 years$1,805$1,230$818$532$341$39
35 years$1,734$1,167$764$490$309$32
36 years$1,668$1,107$715$451$280$27
37 years$1,605$1,052$669$416$254$23
38 years$1,545$1,000$627$383$230$19
39 years$1,489$951$587$353$209$16
40 years$1,436$904$550$326$189$13
41 years$1,385$861$516$301$172$11
42 years$1,337$820$484$278$156$9
43 years$1,291$781$454$256$141$8
44 years$1,248$745$426$237$128$7
45 years$1,206$710$400$218$116$6
46 years$1,167$677$376$202$106$5
47 years$1,129$646$353$186$96$4
48 years$1,093$617$332$172$87$3
49 years$1,058$589$312$159$79$3
50 years$1,025$563$293$147$72$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,050,000, adding $4,190 every year, while hoping to spend $23,174 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: 69/11/20 Blend
65$1,050,000$1,050,000$1,050,000$1,050,000
66$1,161,422$1,105,772$1,089,497$1,235,560
67$1,255,230$1,135,298$1,101,338$1,315,134
68$1,357,830$1,165,494$1,112,799$1,399,066
69$1,470,094$1,196,368$1,123,843$1,490,341
70$1,592,982$1,227,929$1,134,431$1,589,681
71$1,727,553$1,260,184$1,144,521$1,697,884
72$1,874,970$1,293,140$1,154,069$1,815,826
73$2,036,517$1,326,804$1,163,031$1,944,475
74$2,213,606$1,361,182$1,171,357$2,084,895
75$2,407,794$1,396,279$1,178,997$2,238,260
76$2,620,793$1,432,101$1,185,897$2,405,862
77$2,854,491$1,468,652$1,192,002$2,589,125
78$3,110,968$1,505,934$1,197,252$2,789,619
79$3,392,512$1,543,950$1,201,586$3,009,073
80$3,701,647$1,582,703$1,204,938$3,249,390
81$4,041,152$1,622,192$1,207,240$3,512,671
82$4,414,087$1,662,416$1,208,420$3,801,228
83$4,823,824$1,703,376$1,208,403$4,117,609
84$5,274,079$1,745,066$1,207,110$4,464,622
85$5,768,944$1,787,483$1,204,457$4,845,363
86$6,312,928$1,830,622$1,200,358$5,263,240
87$6,910,999$1,874,474$1,194,721$5,722,011
88$7,568,628$1,919,030$1,187,452$6,225,817
89$8,291,846$1,964,281$1,178,449$6,779,220
90$9,087,295$2,010,211$1,167,608$7,387,250
91$9,962,295$2,056,808$1,154,819$8,055,447
92$10,924,910$2,104,052$1,139,967$8,789,916
93$11,984,025$2,151,925$1,122,930$9,597,388
94$13,149,431$2,200,405$1,103,583$10,485,278
95$14,431,913$2,249,465$1,081,794$11,461,757
96$15,843,358$2,299,078$1,057,423$12,535,831
97$17,396,861$2,349,214$1,030,327$13,717,426
98$19,106,852$2,399,836$1,000,354$15,017,477
99$20,989,230$2,450,908$967,346$16,448,038
100$23,061,516$2,502,386$931,136$18,022,391