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

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$98,269$97,394$96,540$95,706$94,892$91,308
2 years$48,648$47,742$46,864$46,013$45,187$41,617
3 years$32,110$31,200$30,324$29,481$28,668$25,226
4 years$23,842$22,935$22,068$21,239$20,447$17,157
5 years$18,883$17,982$17,126$16,314$15,543$12,416
6 years$15,578$14,683$13,840$13,046$12,299$9,335
7 years$13,218$12,331$11,501$10,726$10,002$7,202
8 years$11,449$10,570$9,754$8,998$8,298$5,658
9 years$10,074$9,203$8,401$7,664$6,988$4,505
10 years$8,975$8,112$7,324$6,607$5,954$3,623
11 years$8,076$7,222$6,448$5,750$5,121$2,937
12 years$7,327$6,482$5,723$5,043$4,437$2,395
13 years$6,694$5,858$5,113$4,452$3,870$1,963
14 years$6,152$5,324$4,594$3,952$3,392$1,615
15 years$5,682$4,864$4,148$3,525$2,987$1,333
16 years$5,272$4,463$3,760$3,156$2,640$1,103
17 years$4,910$4,110$3,422$2,836$2,340$914
18 years$4,589$3,798$3,124$2,556$2,081$759
19 years$4,302$3,520$2,860$2,309$1,855$632
20 years$4,044$3,271$2,624$2,091$1,657$526
21 years$3,811$3,046$2,414$1,898$1,483$438
22 years$3,600$2,844$2,225$1,726$1,329$366
23 years$3,407$2,660$2,054$1,572$1,193$305
24 years$3,230$2,492$1,900$1,433$1,072$255
25 years$3,068$2,339$1,760$1,309$965$213
26 years$2,919$2,198$1,632$1,197$869$178
27 years$2,780$2,069$1,515$1,096$784$149
28 years$2,652$1,949$1,409$1,004$707$125
29 years$2,533$1,839$1,311$921$638$104
30 years$2,422$1,737$1,221$845$577$87
31 years$2,319$1,642$1,138$776$522$73
32 years$2,222$1,553$1,062$713$472$61
33 years$2,131$1,471$992$656$427$51
34 years$2,046$1,394$927$603$387$43
35 years$1,966$1,322$866$555$350$36
36 years$1,890$1,255$810$512$317$30
37 years$1,819$1,192$759$471$288$25
38 years$1,751$1,133$710$434$261$21
39 years$1,687$1,077$666$401$236$18
40 years$1,627$1,025$624$369$214$15
41 years$1,570$976$585$341$195$12
42 years$1,515$929$549$315$176$10
43 years$1,463$885$515$290$160$9
44 years$1,414$844$483$268$145$7
45 years$1,367$805$454$248$132$6
46 years$1,322$768$426$229$120$5
47 years$1,279$733$400$211$109$4
48 years$1,238$699$376$195$99$4
49 years$1,199$668$354$180$90$3
50 years$1,162$638$333$167$82$3

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 $2,041 every year, while hoping to spend $35,917 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: 44/39/17 Blend
65$1,190,000$1,190,000$1,190,000$1,190,000
66$1,313,485$1,250,415$1,231,970$1,364,744
67$1,409,245$1,273,470$1,235,026$1,423,955
68$1,513,569$1,296,451$1,236,980$1,484,369
69$1,627,292$1,319,316$1,237,758$1,549,088
70$1,751,334$1,342,021$1,237,281$1,618,528
71$1,886,708$1,364,517$1,235,467$1,693,145
72$2,034,526$1,386,753$1,232,230$1,773,442
73$2,196,017$1,408,672$1,227,478$1,859,976
74$2,372,529$1,430,216$1,221,117$1,953,360
75$2,565,550$1,451,320$1,213,048$2,054,272
76$2,776,716$1,471,914$1,203,165$2,163,460
77$3,007,830$1,491,927$1,191,360$2,281,746
78$3,260,876$1,511,279$1,177,518$2,410,042
79$3,538,039$1,529,886$1,161,519$2,549,353
80$3,841,727$1,547,658$1,143,237$2,700,785
81$4,174,589$1,564,499$1,122,541$2,865,563
82$4,539,545$1,580,307$1,099,294$3,045,035
83$4,939,809$1,594,973$1,073,351$3,240,691
84$5,378,924$1,608,380$1,044,562$3,454,173
85$5,860,788$1,620,405$1,012,769$3,687,295
86$6,389,699$1,630,915$977,807$3,942,057
87$6,970,388$1,639,770$939,504$4,220,666
88$7,608,070$1,646,821$897,680$4,525,557
89$8,308,486$1,651,908$852,145$4,859,417
90$9,077,963$1,654,863$802,703$5,225,209
91$9,923,470$1,655,506$749,149$5,626,204
92$10,852,685$1,653,647$691,266$6,066,008
93$11,874,065$1,649,082$628,830$6,548,600
94$12,996,931$1,641,598$561,607$7,078,370
95$14,231,547$1,630,966$489,350$7,660,160
96$15,589,226$1,616,944$411,805$8,299,310
97$17,082,429$1,599,277$328,702$9,001,712
98$18,724,886$1,577,691$239,763$9,773,862
99$20,531,726$1,551,899$144,696$10,622,927
100$22,519,615$1,521,595$43,197$11,556,811