Can I retire at age 66 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$109,004$108,033$107,086$106,161$105,259$103,345
2 years$53,963$52,958$51,984$51,039$50,123$48,202
3 years$35,618$34,608$33,637$32,701$31,800$29,931
4 years$26,447$25,441$24,479$23,559$22,680$20,878
5 years$20,946$19,946$18,997$18,096$17,241$15,511
6 years$17,280$16,287$15,352$14,471$13,642$11,986
7 years$14,662$13,678$12,758$11,898$11,095$9,513
8 years$12,700$11,725$10,820$9,981$9,204$7,696
9 years$11,175$10,208$9,319$8,501$7,751$6,316
10 years$9,955$8,998$8,124$7,328$6,604$5,241
11 years$8,958$8,011$7,153$6,378$5,680$4,387
12 years$8,127$7,190$6,348$5,594$4,922$3,698
13 years$7,425$6,498$5,671$4,939$4,292$3,134
14 years$6,824$5,906$5,096$4,384$3,763$2,669
15 years$6,303$5,395$4,601$3,910$3,313$2,281
16 years$5,848$4,950$4,171$3,501$2,928$1,956
17 years$5,447$4,559$3,796$3,146$2,596$1,682
18 years$5,091$4,213$3,465$2,835$2,308$1,450
19 years$4,772$3,904$3,172$2,561$2,057$1,252
20 years$4,486$3,628$2,911$2,320$1,838$1,083
21 years$4,228$3,379$2,678$2,105$1,645$938
22 years$3,993$3,154$2,468$1,914$1,474$814
23 years$3,779$2,950$2,279$1,743$1,323$706
24 years$3,583$2,764$2,107$1,590$1,189$614
25 years$3,403$2,594$1,952$1,452$1,070$534
26 years$3,237$2,438$1,810$1,328$964$464
27 years$3,084$2,294$1,681$1,215$869$404
28 years$2,942$2,162$1,563$1,114$784$352
29 years$2,810$2,040$1,454$1,021$708$307
30 years$2,687$1,926$1,355$937$640$268
31 years$2,572$1,821$1,263$861$579$233
32 years$2,465$1,723$1,178$791$523$204
33 years$2,364$1,632$1,100$727$474$178
34 years$2,269$1,546$1,028$669$429$155
35 years$2,180$1,467$961$616$388$135
36 years$2,096$1,392$899$567$352$118
37 years$2,017$1,322$841$523$319$103
38 years$1,943$1,257$788$482$289$90
39 years$1,872$1,195$738$444$262$79
40 years$1,805$1,137$692$410$238$69
41 years$1,741$1,082$649$378$216$60
42 years$1,681$1,031$609$349$196$53
43 years$1,623$982$571$322$178$46
44 years$1,568$936$536$297$161$40
45 years$1,516$893$503$275$146$35
46 years$1,466$852$473$254$133$31
47 years$1,419$813$444$234$121$27
48 years$1,374$776$417$217$110$23
49 years$1,330$741$392$200$100$20
50 years$1,289$708$369$185$90$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,320,000, adding $2,786 every year, while hoping to spend $48,349 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: 41/50/9 Blend
65$1,320,000$1,320,000$1,320,000$1,320,000
66$1,457,514$1,387,554$1,367,094$1,513,267
67$1,554,737$1,404,101$1,361,448$1,569,114
68$1,660,257$1,419,838$1,353,994$1,624,463
69$1,774,868$1,434,676$1,344,617$1,683,273
70$1,899,446$1,448,516$1,333,203$1,745,877
71$2,034,952$1,461,255$1,319,628$1,812,643
72$2,182,445$1,472,785$1,303,763$1,883,983
73$2,343,090$1,482,987$1,285,475$1,960,346
74$2,518,169$1,491,737$1,264,622$2,042,236
75$2,709,093$1,498,903$1,241,058$2,130,205
76$2,917,414$1,504,343$1,214,627$2,224,868
77$3,144,842$1,507,907$1,185,168$2,326,902
78$3,393,257$1,509,437$1,152,513$2,437,059
79$3,664,732$1,508,761$1,116,485$2,556,169
80$3,961,546$1,505,702$1,076,899$2,685,152
81$4,286,210$1,500,068$1,033,561$2,825,024
82$4,641,488$1,491,656$986,270$2,976,909
83$5,030,425$1,480,252$934,815$3,142,049
84$5,456,371$1,465,627$878,974$3,321,820
85$5,923,018$1,447,540$818,517$3,517,741
86$6,434,432$1,425,735$753,203$3,731,492
87$6,995,088$1,399,941$682,780$3,964,930
88$7,609,918$1,369,869$606,984$4,220,109
89$8,284,353$1,335,216$525,541$4,499,297
90$9,024,374$1,295,658$438,164$4,805,000
91$9,836,570$1,250,856$344,553$5,139,990
92$10,728,200$1,200,447$244,394$5,507,327
93$11,707,257$1,144,049$137,362$5,910,392
94$12,782,548$1,081,259$23,115$6,352,921
95$13,963,775$1,011,648$0$6,839,041
96$15,261,626$934,764$0$7,382,797
97$16,687,874$850,130$0$7,982,719
98$18,255,491$757,240$0$8,642,182
99$19,978,766$655,560$0$9,367,361
100$21,873,444$544,526$0$10,165,073