Can I retire at age 66 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$102,398$101,486$100,596$99,727$98,879$97,161
2 years$50,692$49,748$48,833$47,946$47,085$45,360
3 years$33,459$32,511$31,598$30,719$29,873$28,194
4 years$24,844$23,899$22,995$22,132$21,306$19,686
5 years$19,677$18,737$17,845$16,999$16,196$14,641
6 years$16,233$15,300$14,422$13,594$12,815$11,326
7 years$13,774$12,849$11,985$11,177$10,422$8,999
8 years$11,930$11,014$10,164$9,376$8,646$7,289
9 years$10,497$9,590$8,754$7,986$7,282$5,989
10 years$9,352$8,453$7,632$6,884$6,204$4,976
11 years$8,415$7,525$6,719$5,991$5,336$4,170
12 years$7,635$6,754$5,963$5,255$4,624$3,519
13 years$6,975$6,104$5,328$4,640$4,032$2,987
14 years$6,410$5,548$4,787$4,118$3,535$2,547
15 years$5,921$5,068$4,322$3,673$3,112$2,180
16 years$5,494$4,650$3,918$3,289$2,750$1,872
17 years$5,117$4,283$3,566$2,955$2,439$1,612
18 years$4,782$3,957$3,255$2,663$2,168$1,392
19 years$4,483$3,668$2,980$2,406$1,933$1,204
20 years$4,214$3,408$2,735$2,179$1,726$1,043
21 years$3,971$3,174$2,515$1,978$1,545$904
22 years$3,751$2,963$2,318$1,798$1,385$786
23 years$3,550$2,771$2,141$1,638$1,243$683
24 years$3,366$2,597$1,980$1,494$1,117$594
25 years$3,197$2,437$1,834$1,364$1,005$518
26 years$3,041$2,290$1,701$1,247$906$451
27 years$2,897$2,155$1,579$1,142$817$394
28 years$2,764$2,031$1,468$1,046$737$343
29 years$2,640$1,916$1,366$959$665$300
30 years$2,524$1,810$1,272$880$601$262
31 years$2,416$1,711$1,186$809$543$229
32 years$2,315$1,619$1,107$743$492$200
33 years$2,221$1,533$1,033$683$445$175
34 years$2,132$1,453$966$629$403$153
35 years$2,048$1,378$903$579$365$134
36 years$1,969$1,308$844$533$331$117
37 years$1,895$1,242$790$491$300$102
38 years$1,825$1,180$740$453$272$89
39 years$1,758$1,123$693$417$246$78
40 years$1,695$1,068$650$385$223$68
41 years$1,635$1,017$609$355$203$60
42 years$1,579$968$572$328$184$52
43 years$1,525$922$536$303$167$46
44 years$1,473$879$504$279$152$40
45 years$1,424$839$473$258$138$35
46 years$1,378$800$444$238$125$31
47 years$1,333$763$417$220$113$27
48 years$1,290$729$392$203$103$24
49 years$1,250$696$369$188$94$21
50 years$1,211$665$346$174$85$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,240,000, adding $4,285 every year, while hoping to spend $56,411 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: 50/22/28 Blend
65$1,240,000$1,240,000$1,240,000$1,240,000
66$1,370,900$1,305,180$1,285,960$1,428,392
67$1,450,711$1,309,113$1,269,019$1,472,959
68$1,536,772$1,311,348$1,249,619$1,515,415
69$1,629,661$1,311,742$1,227,620$1,560,460
70$1,730,013$1,310,144$1,202,872$1,608,367
71$1,838,526$1,306,393$1,175,220$1,659,437
72$1,955,967$1,300,317$1,144,501$1,714,008
73$2,083,179$1,291,736$1,110,545$1,772,453
74$2,221,089$1,280,458$1,073,174$1,835,186
75$2,370,717$1,266,277$1,032,203$1,902,669
76$2,533,184$1,248,979$987,435$1,975,414
77$2,709,724$1,228,333$938,669$2,053,989
78$2,901,692$1,204,098$885,691$2,139,023
79$3,110,581$1,176,016$828,278$2,231,215
80$3,338,035$1,143,814$766,200$2,331,342
81$3,585,859$1,107,206$699,212$2,440,260
82$3,856,042$1,065,884$627,061$2,558,924
83$4,150,774$1,019,528$549,483$2,688,388
84$4,472,462$967,795$466,200$2,829,820
85$4,823,760$910,323$376,925$2,984,515
86$5,207,586$846,731$281,354$3,153,906
87$5,627,154$776,615$179,174$3,339,580
88$6,086,002$699,548$70,054$3,543,293
89$6,588,026$615,078$0$3,766,989
90$7,137,517$522,729$0$4,026,678
91$7,739,197$421,996$0$4,334,114
92$8,398,268$312,347$0$4,671,089
93$9,120,460$193,220$0$5,040,629
94$9,912,080$64,021$0$5,446,071
95$10,780,078$0$0$5,891,099
96$11,732,106$0$0$6,398,145
97$12,776,593$0$0$6,971,571
98$13,922,824$0$0$7,600,991
99$15,181,026$0$0$8,292,040
100$16,562,463$0$0$9,050,922