Can I retire at age 66 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$101,572$100,667$99,785$98,923$98,082$94,564
2 years$50,283$49,347$48,439$47,559$46,706$43,200
3 years$33,189$32,249$31,343$30,472$29,632$26,248
4 years$24,644$23,706$22,810$21,953$21,134$17,898
5 years$19,518$18,586$17,701$16,862$16,066$12,986
6 years$16,102$15,177$14,305$13,485$12,712$9,791
7 years$13,663$12,745$11,888$11,087$10,338$7,575
8 years$11,834$10,925$10,082$9,300$8,577$5,969
9 years$10,413$9,512$8,683$7,922$7,223$4,767
10 years$9,276$8,385$7,570$6,829$6,154$3,846
11 years$8,347$7,464$6,665$5,943$5,293$3,128
12 years$7,573$6,700$5,915$5,213$4,587$2,559
13 years$6,919$6,055$5,285$4,602$4,000$2,105
14 years$6,359$5,503$4,748$4,085$3,506$1,738
15 years$5,873$5,027$4,287$3,643$3,087$1,439
16 years$5,449$4,613$3,887$3,262$2,728$1,195
17 years$5,076$4,248$3,537$2,931$2,419$995
18 years$4,744$3,925$3,229$2,641$2,151$829
19 years$4,447$3,638$2,956$2,387$1,917$692
20 years$4,180$3,381$2,713$2,162$1,712$579
21 years$3,939$3,149$2,495$1,962$1,532$484
22 years$3,721$2,939$2,300$1,784$1,374$405
23 years$3,521$2,749$2,123$1,625$1,233$340
24 years$3,339$2,576$1,964$1,482$1,108$285
25 years$3,171$2,417$1,819$1,353$997$239
26 years$3,017$2,272$1,687$1,237$898$201
27 years$2,874$2,138$1,566$1,132$810$168
28 years$2,741$2,015$1,456$1,038$731$141
29 years$2,618$1,901$1,355$951$660$119
30 years$2,504$1,795$1,262$873$596$100
31 years$2,397$1,697$1,177$802$539$84
32 years$2,297$1,606$1,098$737$488$70
33 years$2,203$1,520$1,025$678$441$59
34 years$2,115$1,441$958$624$400$50
35 years$2,032$1,367$895$574$362$42
36 years$1,954$1,297$838$529$328$35
37 years$1,880$1,232$784$487$297$30
38 years$1,810$1,171$734$449$269$25
39 years$1,744$1,113$688$414$244$21
40 years$1,682$1,059$645$382$222$18
41 years$1,622$1,008$605$352$201$15
42 years$1,566$960$567$325$182$12
43 years$1,512$915$532$300$166$10
44 years$1,461$872$500$277$150$9
45 years$1,413$832$469$256$136$7
46 years$1,366$793$441$236$124$6
47 years$1,322$757$414$218$112$5
48 years$1,280$723$389$202$102$4
49 years$1,240$690$366$187$93$4
50 years$1,201$659$344$172$84$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,230,000, adding $6,106 every year, while hoping to spend $43,265 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: 54/28/18 Blend
65$1,230,000$1,230,000$1,230,000$1,230,000
66$1,361,758$1,296,568$1,277,503$1,428,366
67$1,454,624$1,314,067$1,274,266$1,492,082
68$1,555,512$1,330,972$1,269,470$1,556,300
69$1,665,195$1,347,210$1,263,018$1,625,251
70$1,784,522$1,362,701$1,254,807$1,699,399
71$1,914,430$1,377,360$1,244,729$1,779,254
72$2,055,947$1,391,095$1,232,672$1,865,382
73$2,210,205$1,403,810$1,218,518$1,958,406
74$2,378,450$1,415,402$1,202,143$2,059,015
75$2,562,055$1,425,760$1,183,418$2,167,968
76$2,762,530$1,434,767$1,162,208$2,286,105
77$2,981,535$1,442,298$1,138,369$2,414,352
78$3,220,902$1,448,221$1,111,755$2,553,731
79$3,482,645$1,452,395$1,082,210$2,705,371
80$3,768,982$1,454,669$1,049,571$2,870,518
81$4,082,355$1,454,885$1,013,668$3,050,547
82$4,425,454$1,452,872$974,325$3,246,975
83$4,801,239$1,448,453$931,354$3,461,479
84$5,212,973$1,441,434$884,562$3,695,906
85$5,664,248$1,431,616$833,746$3,952,296
86$6,159,017$1,418,781$778,693$4,232,902
87$6,701,640$1,402,704$719,182$4,540,209
88$7,296,914$1,383,143$654,981$4,876,957
89$7,950,124$1,359,843$585,848$5,246,173
90$8,667,093$1,332,531$511,530$5,651,195
91$9,454,234$1,300,922$431,763$6,095,705
92$10,318,610$1,264,712$346,272$6,583,767
93$11,268,005$1,223,579$254,768$7,119,864
94$12,310,989$1,177,183$156,951$7,708,942
95$13,457,008$1,125,163$52,507$8,356,456
96$14,716,466$1,067,139$0$9,068,427
97$16,100,824$1,002,707$0$9,862,814
98$17,622,709$931,441$0$10,747,116
99$19,296,034$852,890$0$11,719,385
100$21,136,127$766,579$0$12,788,601