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

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$97,443$96,575$95,728$94,902$94,095$90,576
2 years$48,239$47,341$46,470$45,626$44,807$41,302
3 years$31,840$30,938$30,069$29,233$28,427$25,047
4 years$23,642$22,743$21,883$21,061$20,275$17,044
5 years$18,725$17,830$16,982$16,177$15,413$12,340
6 years$15,447$14,560$13,724$12,937$12,195$9,284
7 years$13,107$12,227$11,405$10,636$9,918$7,166
8 years$11,353$10,481$9,672$8,922$8,228$5,633
9 years$9,989$9,126$8,331$7,600$6,929$4,488
10 years$8,899$8,044$7,263$6,551$5,904$3,612
11 years$8,008$7,161$6,394$5,701$5,078$2,930
12 years$7,265$6,427$5,675$5,001$4,400$2,391
13 years$6,638$5,808$5,070$4,415$3,837$1,961
14 years$6,100$5,280$4,555$3,919$3,364$1,614
15 years$5,635$4,823$4,113$3,495$2,962$1,333
16 years$5,228$4,425$3,729$3,130$2,617$1,104
17 years$4,869$4,075$3,393$2,812$2,321$916
18 years$4,551$3,766$3,097$2,534$2,064$761
19 years$4,266$3,490$2,836$2,290$1,839$634
20 years$4,010$3,243$2,602$2,074$1,643$528
21 years$3,779$3,021$2,394$1,882$1,470$440
22 years$3,569$2,820$2,206$1,711$1,318$368
23 years$3,378$2,637$2,037$1,558$1,183$307
24 years$3,203$2,471$1,884$1,421$1,063$257
25 years$3,042$2,319$1,745$1,298$957$215
26 years$2,894$2,179$1,618$1,187$862$180
27 years$2,757$2,051$1,503$1,086$777$150
28 years$2,630$1,933$1,397$995$701$126
29 years$2,512$1,823$1,300$913$633$105
30 years$2,402$1,722$1,211$838$572$88
31 years$2,299$1,628$1,129$769$517$74
32 years$2,203$1,540$1,053$707$468$62
33 years$2,113$1,459$983$650$423$52
34 years$2,029$1,382$919$598$383$43
35 years$1,949$1,311$859$551$347$36
36 years$1,874$1,245$804$507$315$30
37 years$1,803$1,182$752$467$285$26
38 years$1,736$1,123$704$431$258$21
39 years$1,673$1,068$660$397$234$18
40 years$1,613$1,016$619$366$213$15
41 years$1,556$967$580$338$193$13
42 years$1,502$921$544$312$175$11
43 years$1,451$878$511$288$159$9
44 years$1,402$837$479$266$144$7
45 years$1,355$798$450$246$131$6
46 years$1,311$761$423$227$119$5
47 years$1,269$726$397$210$108$4
48 years$1,228$693$373$194$98$4
49 years$1,189$662$351$179$89$3
50 years$1,152$633$330$165$81$3

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 $3,028 every year, while hoping to spend $43,085 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: 80/8/12 Blend
65$1,180,000$1,180,000$1,180,000$1,180,000
66$1,303,483$1,240,943$1,222,653$1,404,645
67$1,390,597$1,255,908$1,217,770$1,486,478
68$1,485,151$1,270,161$1,211,279$1,570,358
69$1,587,861$1,283,623$1,203,082$1,661,154
70$1,699,511$1,296,209$1,193,073$1,759,536
71$1,820,964$1,307,826$1,181,144$1,866,247
72$1,953,171$1,318,378$1,167,180$1,982,100
73$2,097,176$1,327,760$1,151,063$2,107,995
74$2,254,131$1,335,863$1,132,666$2,244,921
75$2,425,301$1,342,569$1,111,859$2,393,967
76$2,612,079$1,347,753$1,088,504$2,556,335
77$2,816,000$1,351,282$1,062,458$2,733,349
78$3,038,752$1,353,014$1,033,570$2,926,466
79$3,282,194$1,352,801$1,001,684$3,137,293
80$3,548,371$1,350,482$966,634$3,367,601
81$3,839,538$1,345,888$928,249$3,619,341
82$4,158,174$1,338,840$886,348$3,894,662
83$4,507,011$1,329,147$840,745$4,195,934
84$4,889,059$1,316,607$791,242$4,525,768
85$5,307,628$1,301,006$737,634$4,887,040
86$5,766,368$1,282,117$679,707$5,282,922
87$6,269,297$1,259,700$617,236$5,716,908
88$6,820,839$1,233,499$549,987$6,192,849
89$7,425,868$1,203,245$477,716$6,714,989
90$8,089,754$1,168,651$400,166$7,288,006
91$8,818,409$1,129,415$317,072$7,917,054
92$9,618,347$1,085,217$228,155$8,607,815
93$10,496,744$1,035,718$133,123$9,366,550
94$11,461,503$980,558$31,673$10,200,160
95$12,521,330$919,360$0$11,116,251
96$13,685,820$851,723$0$12,133,010
97$14,965,537$777,221$0$13,254,834
98$16,372,124$695,407$0$14,487,889
99$17,918,406$605,807$0$15,843,442
100$19,618,513$507,922$0$17,333,908