Can I retire at age 66 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$99,095$98,212$97,351$96,510$95,690$94,104
2 years$49,057$48,143$47,258$46,399$45,567$43,974
3 years$32,380$31,462$30,579$29,728$28,909$27,359
4 years$24,043$23,128$22,254$21,418$20,618$19,122
5 years$19,042$18,133$17,270$16,451$15,674$14,236
6 years$15,709$14,807$13,956$13,156$12,402$11,025
7 years$13,329$12,435$11,598$10,816$10,086$8,770
8 years$11,546$10,659$9,836$9,073$8,367$7,111
9 years$10,159$9,280$8,472$7,729$7,047$5,850
10 years$9,050$8,180$7,386$6,662$6,004$4,866
11 years$8,143$7,282$6,502$5,798$5,164$4,084
12 years$7,388$6,536$5,771$5,086$4,475$3,451
13 years$6,750$5,907$5,156$4,490$3,902$2,933
14 years$6,204$5,369$4,632$3,986$3,421$2,504
15 years$5,730$4,905$4,182$3,554$3,012$2,146
16 years$5,316$4,500$3,792$3,183$2,662$1,846
17 years$4,952$4,144$3,451$2,860$2,360$1,592
18 years$4,628$3,830$3,150$2,577$2,098$1,376
19 years$4,339$3,549$2,884$2,329$1,870$1,192
20 years$4,078$3,298$2,646$2,109$1,671$1,034
21 years$3,843$3,072$2,434$1,914$1,495$898
22 years$3,630$2,868$2,244$1,740$1,340$781
23 years$3,435$2,682$2,071$1,585$1,203$680
24 years$3,257$2,513$1,916$1,446$1,081$593
25 years$3,094$2,358$1,774$1,320$973$517
26 years$2,943$2,216$1,646$1,207$876$452
27 years$2,804$2,086$1,528$1,105$790$395
28 years$2,675$1,966$1,421$1,012$713$345
29 years$2,555$1,854$1,322$928$644$302
30 years$2,443$1,751$1,231$852$582$264
31 years$2,338$1,655$1,148$782$526$231
32 years$2,241$1,566$1,071$719$476$202
33 years$2,149$1,483$1,000$661$431$177
34 years$2,063$1,406$934$608$390$155
35 years$1,982$1,333$874$560$353$136
36 years$1,906$1,266$817$516$320$119
37 years$1,834$1,202$765$475$290$104
38 years$1,766$1,142$716$438$263$91
39 years$1,702$1,086$671$404$238$80
40 years$1,641$1,034$629$373$216$70
41 years$1,583$984$590$344$196$61
42 years$1,528$937$553$317$178$54
43 years$1,476$893$519$293$162$47
44 years$1,426$851$487$270$147$41
45 years$1,378$811$458$250$133$36
46 years$1,333$774$430$231$121$32
47 years$1,290$739$404$213$110$28
48 years$1,249$705$379$197$100$24
49 years$1,209$673$357$182$91$21
50 years$1,172$643$335$168$82$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,200,000, adding $5,301 every year, while hoping to spend $29,583 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: 62/14/24 Blend
65$1,200,000$1,200,000$1,200,000$1,200,000
66$1,327,868$1,264,268$1,245,668$1,401,471
67$1,431,834$1,294,741$1,255,922$1,482,411
68$1,545,414$1,325,716$1,265,528$1,567,022
69$1,669,556$1,357,186$1,274,432$1,658,751
70$1,805,305$1,389,142$1,282,581$1,758,297
71$1,953,813$1,421,577$1,289,914$1,866,431
72$2,116,346$1,454,478$1,296,370$1,984,001
73$2,294,300$1,487,834$1,301,885$2,111,943
74$2,489,210$1,521,630$1,306,390$2,251,287
75$2,702,770$1,555,850$1,309,814$2,403,171
76$2,936,842$1,590,476$1,312,082$2,568,845
77$3,193,478$1,625,488$1,313,116$2,749,690
78$3,474,940$1,660,864$1,312,832$2,947,227
79$3,783,716$1,696,578$1,311,144$3,163,130
80$4,122,548$1,732,604$1,307,960$3,399,247
81$4,494,458$1,768,911$1,303,187$3,657,615
82$4,902,772$1,805,467$1,296,723$3,940,476
83$5,351,155$1,842,235$1,288,463$4,250,304
84$5,843,644$1,879,176$1,278,298$4,589,823
85$6,384,688$1,916,248$1,266,113$4,962,039
86$6,979,185$1,953,403$1,251,787$5,370,262
87$7,632,534$1,990,591$1,235,194$5,818,141
88$8,350,680$2,027,758$1,216,201$6,309,699
89$9,140,176$2,064,845$1,194,670$6,849,369
90$10,008,239$2,101,787$1,170,456$7,442,037
91$10,962,820$2,138,516$1,143,408$8,093,088
92$12,012,682$2,174,958$1,113,366$8,808,459
93$13,167,477$2,211,032$1,080,165$9,594,692
94$14,437,841$2,246,653$1,043,632$10,458,998
95$15,835,490$2,281,729$1,003,583$11,409,325
96$17,373,338$2,316,161$959,830$12,454,433
97$19,065,608$2,349,843$912,175$13,603,976
98$20,927,976$2,382,661$860,408$14,868,596
99$22,977,712$2,414,494$804,315$16,260,022
100$25,233,847$2,445,213$743,667$17,791,181