Can I retire at age 66 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$97,443$96,575$95,728$94,902$94,095$92,308
2 years$48,239$47,341$46,470$45,626$44,807$43,014
3 years$31,840$30,938$30,069$29,233$28,427$26,684
4 years$23,642$22,743$21,883$21,061$20,275$18,594
5 years$18,725$17,830$16,982$16,177$15,413$13,800
6 years$15,447$14,560$13,724$12,937$12,195$10,652
7 years$13,107$12,227$11,405$10,636$9,918$8,445
8 years$11,353$10,481$9,672$8,922$8,228$6,824
9 years$9,989$9,126$8,331$7,600$6,929$5,594
10 years$8,899$8,044$7,263$6,551$5,904$4,636
11 years$8,008$7,161$6,394$5,701$5,078$3,876
12 years$7,265$6,427$5,675$5,001$4,400$3,262
13 years$6,638$5,808$5,070$4,415$3,837$2,762
14 years$6,100$5,280$4,555$3,919$3,364$2,348
15 years$5,635$4,823$4,113$3,495$2,962$2,005
16 years$5,228$4,425$3,729$3,130$2,617$1,717
17 years$4,869$4,075$3,393$2,812$2,321$1,474
18 years$4,551$3,766$3,097$2,534$2,064$1,269
19 years$4,266$3,490$2,836$2,290$1,839$1,094
20 years$4,010$3,243$2,602$2,074$1,643$945
21 years$3,779$3,021$2,394$1,882$1,470$817
22 years$3,569$2,820$2,206$1,711$1,318$708
23 years$3,378$2,637$2,037$1,558$1,183$613
24 years$3,203$2,471$1,884$1,421$1,063$532
25 years$3,042$2,319$1,745$1,298$957$462
26 years$2,894$2,179$1,618$1,187$862$401
27 years$2,757$2,051$1,503$1,086$777$349
28 years$2,630$1,933$1,397$995$701$303
29 years$2,512$1,823$1,300$913$633$264
30 years$2,402$1,722$1,211$838$572$230
31 years$2,299$1,628$1,129$769$517$200
32 years$2,203$1,540$1,053$707$468$174
33 years$2,113$1,459$983$650$423$152
34 years$2,029$1,382$919$598$383$132
35 years$1,949$1,311$859$551$347$115
36 years$1,874$1,245$804$507$315$101
37 years$1,803$1,182$752$467$285$88
38 years$1,736$1,123$704$431$258$76
39 years$1,673$1,068$660$397$234$67
40 years$1,613$1,016$619$366$213$58
41 years$1,556$967$580$338$193$51
42 years$1,502$921$544$312$175$44
43 years$1,451$878$511$288$159$39
44 years$1,402$837$479$266$144$34
45 years$1,355$798$450$246$131$29
46 years$1,311$761$423$227$119$26
47 years$1,269$726$397$210$108$22
48 years$1,228$693$373$194$98$19
49 years$1,189$662$351$179$89$17
50 years$1,152$633$330$165$81$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,180,000, adding $4,241 every year, while hoping to spend $41,224 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: 78/7/15 Blend
65$1,180,000$1,180,000$1,180,000$1,180,000
66$1,304,735$1,242,195$1,223,905$1,402,063
67$1,393,956$1,259,200$1,221,043$1,483,804
68$1,490,895$1,275,657$1,216,705$1,567,787
69$1,596,298$1,291,496$1,210,795$1,658,759
70$1,710,981$1,306,640$1,203,218$1,757,403
71$1,835,846$1,321,010$1,193,871$1,864,472
72$1,971,883$1,334,520$1,182,646$1,980,793
73$2,120,182$1,347,079$1,169,432$2,107,281
74$2,281,944$1,358,589$1,154,111$2,244,941
75$2,458,488$1,368,946$1,136,560$2,394,883
76$2,651,269$1,378,039$1,116,650$2,558,327
77$2,861,888$1,385,752$1,094,247$2,736,620
78$3,092,105$1,391,959$1,069,209$2,931,246
79$3,343,862$1,396,527$1,041,389$3,143,839
80$3,619,293$1,399,314$1,010,632$3,376,202
81$3,920,750$1,400,169$976,778$3,630,319
82$4,250,823$1,398,934$939,656$3,908,378
83$4,612,363$1,395,438$899,091$4,212,792
84$5,008,511$1,389,501$854,897$4,546,218
85$5,442,725$1,380,933$806,882$4,911,584
86$5,918,814$1,369,530$754,844$5,312,119
87$6,440,974$1,355,078$698,572$5,751,381
88$7,013,825$1,337,348$637,846$6,233,291
89$7,642,456$1,316,100$572,436$6,762,171
90$8,332,475$1,291,077$502,100$7,342,782
91$9,090,056$1,262,008$426,589$7,980,376
92$9,922,002$1,228,606$345,640$8,680,738
93$10,835,806$1,190,568$258,979$9,450,243
94$11,839,723$1,147,571$166,320$10,295,921
95$12,942,848$1,099,275$67,365$11,225,518
96$14,155,200$1,045,321$0$12,247,569
97$15,487,814$985,326$0$13,377,606
98$16,952,853$918,888$0$14,631,781
99$18,563,711$845,581$0$16,010,785
100$20,335,150$764,954$0$17,527,273