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%12.8%
1 years$97,443$96,575$95,728$94,902$94,095$92,996
2 years$48,239$47,341$46,470$45,626$44,807$43,701
3 years$31,840$30,938$30,069$29,233$28,427$27,349
4 years$23,642$22,743$21,883$21,061$20,275$19,231
5 years$18,725$17,830$16,982$16,177$15,413$14,408
6 years$15,447$14,560$13,724$12,937$12,195$11,230
7 years$13,107$12,227$11,405$10,636$9,918$8,993
8 years$11,353$10,481$9,672$8,922$8,228$7,343
9 years$9,989$9,126$8,331$7,600$6,929$6,084
10 years$8,899$8,044$7,263$6,551$5,904$5,098
11 years$8,008$7,161$6,394$5,701$5,078$4,310
12 years$7,265$6,427$5,675$5,001$4,400$3,670
13 years$6,638$5,808$5,070$4,415$3,837$3,144
14 years$6,100$5,280$4,555$3,919$3,364$2,706
15 years$5,635$4,823$4,113$3,495$2,962$2,338
16 years$5,228$4,425$3,729$3,130$2,617$2,028
17 years$4,869$4,075$3,393$2,812$2,321$1,764
18 years$4,551$3,766$3,097$2,534$2,064$1,538
19 years$4,266$3,490$2,836$2,290$1,839$1,344
20 years$4,010$3,243$2,602$2,074$1,643$1,176
21 years$3,779$3,021$2,394$1,882$1,470$1,031
22 years$3,569$2,820$2,206$1,711$1,318$905
23 years$3,378$2,637$2,037$1,558$1,183$796
24 years$3,203$2,471$1,884$1,421$1,063$700
25 years$3,042$2,319$1,745$1,298$957$616
26 years$2,894$2,179$1,618$1,187$862$543
27 years$2,757$2,051$1,503$1,086$777$479
28 years$2,630$1,933$1,397$995$701$423
29 years$2,512$1,823$1,300$913$633$373
30 years$2,402$1,722$1,211$838$572$330
31 years$2,299$1,628$1,129$769$517$291
32 years$2,203$1,540$1,053$707$468$258
33 years$2,113$1,459$983$650$423$228
34 years$2,029$1,382$919$598$383$202
35 years$1,949$1,311$859$551$347$178
36 years$1,874$1,245$804$507$315$158
37 years$1,803$1,182$752$467$285$140
38 years$1,736$1,123$704$431$258$124
39 years$1,673$1,068$660$397$234$110
40 years$1,613$1,016$619$366$213$97
41 years$1,556$967$580$338$193$86
42 years$1,502$921$544$312$175$76
43 years$1,451$878$511$288$159$67
44 years$1,402$837$479$266$144$60
45 years$1,355$798$450$246$131$53
46 years$1,311$761$423$227$119$47
47 years$1,269$726$397$210$108$42
48 years$1,228$693$373$194$98$37
49 years$1,189$662$351$179$89$33
50 years$1,152$633$330$165$81$29

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 $2,771 every year, while hoping to spend $34,285 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: 43/46/11 Blend
65$1,180,000$1,180,000$1,180,000$1,180,000
66$1,303,218$1,240,678$1,222,388$1,354,987
67$1,399,668$1,264,993$1,226,859$1,415,688
68$1,504,806$1,289,349$1,230,331$1,477,737
69$1,619,482$1,313,714$1,232,734$1,544,191
70$1,744,634$1,338,050$1,233,994$1,615,467
71$1,881,289$1,362,317$1,234,036$1,692,026
72$2,030,583$1,386,473$1,232,778$1,774,374
73$2,193,762$1,410,470$1,230,137$1,863,072
74$2,372,202$1,434,259$1,226,022$1,958,736
75$2,567,415$1,457,786$1,220,342$2,062,047
76$2,781,067$1,480,994$1,213,000$2,173,755
77$3,014,993$1,503,819$1,203,892$2,294,688
78$3,271,212$1,526,196$1,192,912$2,425,759
79$3,551,949$1,548,053$1,179,948$2,567,976
80$3,859,654$1,569,314$1,164,883$2,722,448
81$4,197,025$1,589,897$1,147,593$2,890,402
82$4,567,035$1,609,715$1,127,950$3,073,189
83$4,972,955$1,628,674$1,105,819$3,272,299
84$5,418,392$1,646,674$1,081,060$3,489,377
85$5,907,317$1,663,610$1,053,524$3,726,237
86$6,444,104$1,679,367$1,023,057$3,984,880
87$7,033,572$1,693,825$989,499$4,267,512
88$7,681,028$1,706,855$952,680$4,576,567
89$8,392,322$1,718,320$912,423$4,914,731
90$9,173,894$1,728,073$868,544$5,284,963
91$10,032,841$1,735,958$820,850$5,690,532
92$10,976,982$1,741,811$769,140$6,135,037
93$12,014,930$1,745,456$713,202$6,622,454
94$13,156,176$1,746,706$652,817$7,157,163
95$14,411,173$1,745,362$587,754$7,743,997
96$15,791,442$1,741,214$517,773$8,388,286
97$17,309,674$1,734,039$442,624$9,095,907
98$18,979,852$1,723,598$362,043$9,873,343
99$20,817,383$1,709,640$275,757$10,727,741
100$22,839,241$1,691,898$183,480$11,666,985