Can I retire at age 66 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$98,269$97,394$96,540$95,706$94,892$92,636
2 years$48,648$47,742$46,864$46,013$45,187$42,927
3 years$32,110$31,200$30,324$29,481$28,668$26,475
4 years$23,842$22,935$22,068$21,239$20,447$18,337
5 years$18,883$17,982$17,126$16,314$15,543$13,524
6 years$15,578$14,683$13,840$13,046$12,299$10,371
7 years$13,218$12,331$11,501$10,726$10,002$8,166
8 years$11,449$10,570$9,754$8,998$8,298$6,553
9 years$10,074$9,203$8,401$7,664$6,988$5,333
10 years$8,975$8,112$7,324$6,607$5,954$4,387
11 years$8,076$7,222$6,448$5,750$5,121$3,640
12 years$7,327$6,482$5,723$5,043$4,437$3,040
13 years$6,694$5,858$5,113$4,452$3,870$2,553
14 years$6,152$5,324$4,594$3,952$3,392$2,153
15 years$5,682$4,864$4,148$3,525$2,987$1,823
16 years$5,272$4,463$3,760$3,156$2,640$1,548
17 years$4,910$4,110$3,422$2,836$2,340$1,318
18 years$4,589$3,798$3,124$2,556$2,081$1,124
19 years$4,302$3,520$2,860$2,309$1,855$961
20 years$4,044$3,271$2,624$2,091$1,657$822
21 years$3,811$3,046$2,414$1,898$1,483$705
22 years$3,600$2,844$2,225$1,726$1,329$605
23 years$3,407$2,660$2,054$1,572$1,193$519
24 years$3,230$2,492$1,900$1,433$1,072$446
25 years$3,068$2,339$1,760$1,309$965$384
26 years$2,919$2,198$1,632$1,197$869$330
27 years$2,780$2,069$1,515$1,096$784$284
28 years$2,652$1,949$1,409$1,004$707$245
29 years$2,533$1,839$1,311$921$638$211
30 years$2,422$1,737$1,221$845$577$182
31 years$2,319$1,642$1,138$776$522$157
32 years$2,222$1,553$1,062$713$472$135
33 years$2,131$1,471$992$656$427$117
34 years$2,046$1,394$927$603$387$101
35 years$1,966$1,322$866$555$350$87
36 years$1,890$1,255$810$512$317$75
37 years$1,819$1,192$759$471$288$65
38 years$1,751$1,133$710$434$261$56
39 years$1,687$1,077$666$401$236$48
40 years$1,627$1,025$624$369$214$42
41 years$1,570$976$585$341$195$36
42 years$1,515$929$549$315$176$31
43 years$1,463$885$515$290$160$27
44 years$1,414$844$483$268$145$23
45 years$1,367$805$454$248$132$20
46 years$1,322$768$426$229$120$17
47 years$1,279$733$400$211$109$15
48 years$1,238$699$376$195$99$13
49 years$1,199$668$354$180$90$11
50 years$1,162$638$333$167$82$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,190,000, adding $3,532 every year, while hoping to spend $23,061 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: 43/45/12 Blend
65$1,190,000$1,190,000$1,190,000$1,190,000
66$1,315,023$1,251,953$1,233,508$1,366,846
67$1,424,619$1,288,762$1,250,294$1,440,207
68$1,544,620$1,326,602$1,266,869$1,517,043
69$1,676,065$1,365,499$1,283,203$1,599,772
70$1,820,094$1,405,479$1,299,261$1,688,944
71$1,977,966$1,446,570$1,315,008$1,785,162
72$2,151,066$1,488,799$1,330,409$1,889,093
73$2,340,920$1,532,195$1,345,422$2,001,467
74$2,549,208$1,576,787$1,360,008$2,123,090
75$2,777,781$1,622,603$1,374,122$2,254,846
76$3,028,677$1,669,673$1,387,718$2,397,711
77$3,304,144$1,718,029$1,400,748$2,552,757
78$3,606,654$1,767,700$1,413,160$2,721,165
79$3,938,933$1,818,717$1,424,901$2,904,234
80$4,303,982$1,871,113$1,435,914$3,103,394
81$4,705,111$1,924,920$1,446,139$3,320,221
82$5,145,961$1,980,170$1,455,514$3,556,449
83$5,630,547$2,036,896$1,463,972$3,813,988
84$6,163,292$2,095,133$1,471,444$4,094,940
85$6,749,067$2,154,914$1,477,856$4,401,622
86$7,393,240$2,216,273$1,483,133$4,736,584
87$8,101,726$2,279,245$1,487,193$5,102,634
88$8,881,040$2,343,866$1,489,952$5,502,866
89$9,738,361$2,410,171$1,491,321$5,940,690
90$10,681,601$2,478,196$1,491,206$6,419,857
91$11,719,473$2,547,977$1,489,511$6,944,503
92$12,861,581$2,619,550$1,486,132$7,519,183
93$14,118,506$2,692,951$1,480,961$8,148,915
94$15,501,907$2,768,219$1,473,886$8,839,227
95$17,024,628$2,845,388$1,464,788$9,596,208
96$18,700,825$2,924,498$1,453,543$10,426,568
97$20,546,095$3,005,583$1,440,022$11,337,700
98$22,577,622$3,088,682$1,424,089$12,337,748
99$24,814,343$3,173,832$1,405,600$13,435,683
100$27,277,125$3,261,068$1,384,406$14,641,395