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%12.2%
1 years$98,269$97,394$96,540$95,706$94,892$94,019
2 years$48,648$47,742$46,864$46,013$45,187$44,307
3 years$32,110$31,200$30,324$29,481$28,668$27,809
4 years$23,842$22,935$22,068$21,239$20,447$19,614
5 years$18,883$17,982$17,126$16,314$15,543$14,741
6 years$15,578$14,683$13,840$13,046$12,299$11,527
7 years$13,218$12,331$11,501$10,726$10,002$9,262
8 years$11,449$10,570$9,754$8,998$8,298$7,588
9 years$10,074$9,203$8,401$7,664$6,988$6,309
10 years$8,975$8,112$7,324$6,607$5,954$5,306
11 years$8,076$7,222$6,448$5,750$5,121$4,503
12 years$7,327$6,482$5,723$5,043$4,437$3,849
13 years$6,694$5,858$5,113$4,452$3,870$3,309
14 years$6,152$5,324$4,594$3,952$3,392$2,860
15 years$5,682$4,864$4,148$3,525$2,987$2,482
16 years$5,272$4,463$3,760$3,156$2,640$2,161
17 years$4,910$4,110$3,422$2,836$2,340$1,887
18 years$4,589$3,798$3,124$2,556$2,081$1,653
19 years$4,302$3,520$2,860$2,309$1,855$1,450
20 years$4,044$3,271$2,624$2,091$1,657$1,275
21 years$3,811$3,046$2,414$1,898$1,483$1,123
22 years$3,600$2,844$2,225$1,726$1,329$990
23 years$3,407$2,660$2,054$1,572$1,193$874
24 years$3,230$2,492$1,900$1,433$1,072$773
25 years$3,068$2,339$1,760$1,309$965$684
26 years$2,919$2,198$1,632$1,197$869$605
27 years$2,780$2,069$1,515$1,096$784$537
28 years$2,652$1,949$1,409$1,004$707$476
29 years$2,533$1,839$1,311$921$638$422
30 years$2,422$1,737$1,221$845$577$375
31 years$2,319$1,642$1,138$776$522$333
32 years$2,222$1,553$1,062$713$472$296
33 years$2,131$1,471$992$656$427$263
34 years$2,046$1,394$927$603$387$234
35 years$1,966$1,322$866$555$350$208
36 years$1,890$1,255$810$512$317$185
37 years$1,819$1,192$759$471$288$164
38 years$1,751$1,133$710$434$261$146
39 years$1,687$1,077$666$401$236$130
40 years$1,627$1,025$624$369$214$116
41 years$1,570$976$585$341$195$103
42 years$1,515$929$549$315$176$92
43 years$1,463$885$515$290$160$82
44 years$1,414$844$483$268$145$73
45 years$1,367$805$454$248$132$65
46 years$1,322$768$426$229$120$58
47 years$1,279$733$400$211$109$52
48 years$1,238$699$376$195$99$46
49 years$1,199$668$354$180$90$41
50 years$1,162$638$333$167$82$36

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 $3,042 every year, while hoping to spend $31,654 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: 71/15/14 Blend
65$1,190,000$1,190,000$1,190,000$1,190,000
66$1,314,518$1,251,448$1,233,003$1,403,559
67$1,414,919$1,279,089$1,240,629$1,490,677
68$1,524,500$1,307,024$1,247,449$1,581,887
69$1,644,164$1,335,233$1,253,404$1,680,908
70$1,774,906$1,363,696$1,258,429$1,788,503
71$1,917,818$1,392,389$1,262,459$1,905,517
72$2,074,106$1,421,287$1,265,422$2,032,877
73$2,245,097$1,450,362$1,267,246$2,171,608
74$2,432,251$1,479,584$1,267,853$2,322,835
75$2,637,177$1,508,920$1,267,162$2,487,800
76$2,861,646$1,538,334$1,265,088$2,667,872
77$3,107,607$1,567,786$1,261,543$2,864,557
78$3,377,211$1,597,235$1,256,432$3,079,516
79$3,672,821$1,626,634$1,249,657$3,314,580
80$3,997,045$1,655,935$1,241,116$3,571,763
81$4,352,751$1,685,084$1,230,702$3,853,289
82$4,743,102$1,714,023$1,218,301$4,161,605
83$5,171,579$1,742,691$1,203,795$4,499,409
84$5,642,019$1,771,022$1,187,060$4,869,674
85$6,158,646$1,798,943$1,167,968$5,275,676
86$6,726,115$1,826,378$1,146,381$5,721,025
87$7,349,553$1,853,245$1,122,160$6,209,700
88$8,034,609$1,879,455$1,095,154$6,746,085
89$8,787,506$1,904,916$1,065,208$7,335,012
90$9,615,099$1,929,524$1,032,161$7,981,805
91$10,524,942$1,953,174$995,841$8,692,333
92$11,525,356$1,975,749$956,071$9,473,064
93$12,625,508$1,997,127$912,666$10,331,123
94$13,835,500$2,017,176$865,430$11,274,365
95$15,166,460$2,035,756$814,160$12,311,447
96$16,630,649$2,052,719$758,645$13,451,909
97$18,241,578$2,067,905$698,663$14,706,263
98$20,014,132$2,081,145$633,981$16,086,096
99$21,964,711$2,092,259$564,357$17,604,177
100$24,111,388$2,101,055$489,539$19,274,580