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

Use the below retirement simulation to view the chances of a successful retirement.
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%15.3%
1 years$92,489$91,665$90,861$90,076$89,310$87,364
2 years$45,786$44,934$44,107$43,306$42,529$40,578
3 years$30,221$29,365$28,540$27,747$26,982$25,087
4 years$22,440$21,586$20,770$19,990$19,244$17,420
5 years$17,772$16,924$16,118$15,354$14,629$12,881
6 years$14,662$13,820$13,026$12,279$11,575$9,905
7 years$12,441$11,606$10,825$10,095$9,414$7,821
8 years$10,776$9,948$9,180$8,469$7,810$6,295
9 years$9,482$8,662$7,907$7,213$6,577$5,138
10 years$8,447$7,635$6,893$6,218$5,604$4,240
11 years$7,601$6,797$6,069$5,411$4,819$3,529
12 years$6,896$6,100$5,386$4,747$4,176$2,957
13 years$6,300$5,513$4,812$4,191$3,642$2,492
14 years$5,790$5,011$4,324$3,720$3,193$2,109
15 years$5,348$4,578$3,904$3,317$2,811$1,791
16 years$4,962$4,200$3,539$2,970$2,484$1,527
17 years$4,622$3,868$3,221$2,669$2,203$1,304
18 years$4,319$3,574$2,940$2,405$1,959$1,117
19 years$4,049$3,313$2,691$2,173$1,746$958
20 years$3,807$3,078$2,470$1,968$1,559$823
21 years$3,587$2,867$2,272$1,786$1,395$708
22 years$3,388$2,677$2,094$1,624$1,251$610
23 years$3,206$2,503$1,933$1,479$1,123$526
24 years$3,040$2,345$1,788$1,349$1,009$454
25 years$2,888$2,201$1,656$1,232$908$392
26 years$2,747$2,069$1,536$1,127$818$338
27 years$2,617$1,947$1,426$1,031$737$292
28 years$2,496$1,834$1,326$945$665$253
29 years$2,384$1,731$1,234$866$601$219
30 years$2,280$1,634$1,149$795$543$189
31 years$2,182$1,545$1,071$730$491$164
32 years$2,091$1,462$1,000$671$444$142
33 years$2,006$1,384$933$617$402$123
34 years$1,925$1,312$872$568$364$106
35 years$1,850$1,245$815$523$330$92
36 years$1,779$1,181$763$481$299$80
37 years$1,712$1,122$714$444$271$69
38 years$1,648$1,066$669$409$245$60
39 years$1,588$1,014$626$377$222$52
40 years$1,531$965$587$348$202$45
41 years$1,477$918$551$321$183$39
42 years$1,426$874$516$296$166$34
43 years$1,377$833$485$273$151$29
44 years$1,331$794$455$252$137$25
45 years$1,286$757$427$233$124$22
46 years$1,244$723$401$215$113$19
47 years$1,204$689$377$199$102$17
48 years$1,166$658$354$184$93$14
49 years$1,129$629$333$170$84$12
50 years$1,094$600$313$157$77$11

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 $2,915 every year, while hoping to spend $59,460 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: 64/14/22 Blend
65$1,120,000$1,120,000$1,120,000$1,120,000
66$1,237,247$1,177,887$1,160,527$1,309,220
67$1,300,181$1,172,338$1,136,139$1,352,516
68$1,367,542$1,164,525$1,108,942$1,392,851
69$1,439,717$1,154,273$1,078,778$1,435,554
70$1,517,135$1,141,399$1,045,484$1,480,863
71$1,600,262$1,125,706$1,008,886$1,529,039
72$1,689,611$1,106,989$968,807$1,580,373
73$1,785,747$1,085,027$925,058$1,635,188
74$1,889,289$1,059,589$877,443$1,693,843
75$2,000,916$1,030,428$825,756$1,756,734
76$2,121,375$997,285$769,785$1,824,300
77$2,251,486$959,882$709,303$1,897,030
78$2,392,150$917,930$644,078$1,975,462
79$2,544,360$871,119$573,865$2,060,197
80$2,709,204$819,122$498,408$2,151,895
81$2,887,879$761,596$417,442$2,251,290
82$3,081,703$698,174$330,686$2,359,195
83$3,292,123$628,471$237,851$2,476,508
84$3,520,733$552,080$138,632$2,604,224
85$3,769,285$468,569$32,713$2,743,444
86$4,039,706$377,483$0$2,895,385
87$4,334,118$278,342$0$3,080,250
88$4,654,854$170,637$0$3,290,093
89$5,004,483$53,832$0$3,518,961
90$5,385,832$0$0$3,768,762
91$5,802,011$0$0$4,052,793
92$6,256,446$0$0$4,372,060
93$6,752,905$0$0$4,720,928
94$7,295,540$0$0$5,102,322
95$7,888,920$0$0$5,519,464
96$8,538,075$0$0$5,975,900
97$9,248,545$0$0$6,475,537
98$10,026,431$0$0$7,022,675
99$10,878,448$0$0$7,622,049
100$11,811,995$0$0$8,278,877