Can I retire at age 66 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$92,489$91,665$90,861$90,076$89,310$88,748
2 years$45,786$44,934$44,107$43,306$42,529$41,961
3 years$30,221$29,365$28,540$27,747$26,982$26,427
4 years$22,440$21,586$20,770$19,990$19,244$18,706
5 years$17,772$16,924$16,118$15,354$14,629$14,109
6 years$14,662$13,820$13,026$12,279$11,575$11,075
7 years$12,441$11,606$10,825$10,095$9,414$8,933
8 years$10,776$9,948$9,180$8,469$7,810$7,348
9 years$9,482$8,662$7,907$7,213$6,577$6,135
10 years$8,447$7,635$6,893$6,218$5,604$5,181
11 years$7,601$6,797$6,069$5,411$4,819$4,415
12 years$6,896$6,100$5,386$4,747$4,176$3,791
13 years$6,300$5,513$4,812$4,191$3,642$3,274
14 years$5,790$5,011$4,324$3,720$3,193$2,843
15 years$5,348$4,578$3,904$3,317$2,811$2,478
16 years$4,962$4,200$3,539$2,970$2,484$2,168
17 years$4,622$3,868$3,221$2,669$2,203$1,903
18 years$4,319$3,574$2,940$2,405$1,959$1,675
19 years$4,049$3,313$2,691$2,173$1,746$1,477
20 years$3,807$3,078$2,470$1,968$1,559$1,305
21 years$3,587$2,867$2,272$1,786$1,395$1,155
22 years$3,388$2,677$2,094$1,624$1,251$1,024
23 years$3,206$2,503$1,933$1,479$1,123$909
24 years$3,040$2,345$1,788$1,349$1,009$808
25 years$2,888$2,201$1,656$1,232$908$719
26 years$2,747$2,069$1,536$1,127$818$640
27 years$2,617$1,947$1,426$1,031$737$570
28 years$2,496$1,834$1,326$945$665$508
29 years$2,384$1,731$1,234$866$601$454
30 years$2,280$1,634$1,149$795$543$405
31 years$2,182$1,545$1,071$730$491$362
32 years$2,091$1,462$1,000$671$444$323
33 years$2,006$1,384$933$617$402$289
34 years$1,925$1,312$872$568$364$258
35 years$1,850$1,245$815$523$330$231
36 years$1,779$1,181$763$481$299$207
37 years$1,712$1,122$714$444$271$185
38 years$1,648$1,066$669$409$245$166
39 years$1,588$1,014$626$377$222$148
40 years$1,531$965$587$348$202$133
41 years$1,477$918$551$321$183$119
42 years$1,426$874$516$296$166$107
43 years$1,377$833$485$273$151$96
44 years$1,331$794$455$252$137$86
45 years$1,286$757$427$233$124$77
46 years$1,244$723$401$215$113$69
47 years$1,204$689$377$199$102$62
48 years$1,166$658$354$184$93$55
49 years$1,129$629$333$170$84$49
50 years$1,094$600$313$157$77$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,120,000, adding $3,909 every year, while hoping to spend $51,388 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: 46/29/25 Blend
65$1,120,000$1,120,000$1,120,000$1,120,000
66$1,238,272$1,178,912$1,161,552$1,286,178
67$1,309,899$1,182,002$1,145,788$1,323,434
68$1,387,110$1,183,522$1,127,773$1,358,501
69$1,470,420$1,183,339$1,107,378$1,395,531
70$1,560,395$1,181,315$1,084,467$1,434,734
71$1,657,658$1,177,301$1,058,899$1,476,342
72$1,762,891$1,171,141$1,030,524$1,520,617
73$1,876,847$1,162,668$999,188$1,567,849
74$2,000,352$1,151,705$964,727$1,618,361
75$2,134,314$1,138,065$926,972$1,672,514
76$2,279,733$1,121,549$885,744$1,730,707
77$2,437,708$1,101,948$840,859$1,793,386
78$2,609,448$1,079,037$792,121$1,861,045
79$2,796,283$1,052,581$739,329$1,934,235
80$2,999,676$1,022,330$682,269$2,013,567
81$3,221,238$988,018$620,719$2,099,720
82$3,462,740$949,367$554,449$2,193,446
83$3,726,133$906,080$483,217$2,295,583
84$4,013,563$857,842$406,769$2,407,057
85$4,327,393$804,323$324,843$2,528,898
86$4,670,224$745,172$237,161$2,662,246
87$5,044,919$680,017$143,438$2,808,365
88$5,454,630$608,467$43,373$2,968,658
89$5,902,828$530,108$0$3,144,677
90$6,393,335$444,501$0$3,355,057
91$6,930,358$351,186$0$3,598,233
92$7,518,533$249,672$0$3,864,824
93$8,162,962$139,444$0$4,157,259
94$8,869,265$19,958$0$4,478,221
95$9,643,631$0$0$4,830,671
96$10,492,879$0$0$5,252,779
97$11,424,516$0$0$5,722,957
98$12,446,813$0$0$6,239,027
99$13,568,880$0$0$6,805,604
100$14,800,752$0$0$7,427,773