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%19.6%
1 years$109,004$108,033$107,086$106,161$105,259$101,202
2 years$53,963$52,958$51,984$51,039$50,123$46,085
3 years$35,618$34,608$33,637$32,701$31,800$27,907
4 years$26,447$25,441$24,479$23,559$22,680$18,962
5 years$20,946$19,946$18,997$18,096$17,241$13,707
6 years$17,280$16,287$15,352$14,471$13,642$10,295
7 years$14,662$13,678$12,758$11,898$11,095$7,933
8 years$12,700$11,725$10,820$9,981$9,204$6,225
9 years$11,175$10,208$9,319$8,501$7,751$4,950
10 years$9,955$8,998$8,124$7,328$6,604$3,976
11 years$8,958$8,011$7,153$6,378$5,680$3,219
12 years$8,127$7,190$6,348$5,594$4,922$2,622
13 years$7,425$6,498$5,671$4,939$4,292$2,146
14 years$6,824$5,906$5,096$4,384$3,763$1,763
15 years$6,303$5,395$4,601$3,910$3,313$1,453
16 years$5,848$4,950$4,171$3,501$2,928$1,200
17 years$5,447$4,559$3,796$3,146$2,596$994
18 years$5,091$4,213$3,465$2,835$2,308$824
19 years$4,772$3,904$3,172$2,561$2,057$684
20 years$4,486$3,628$2,911$2,320$1,838$569
21 years$4,228$3,379$2,678$2,105$1,645$474
22 years$3,993$3,154$2,468$1,914$1,474$394
23 years$3,779$2,950$2,279$1,743$1,323$329
24 years$3,583$2,764$2,107$1,590$1,189$274
25 years$3,403$2,594$1,952$1,452$1,070$229
26 years$3,237$2,438$1,810$1,328$964$191
27 years$3,084$2,294$1,681$1,215$869$159
28 years$2,942$2,162$1,563$1,114$784$133
29 years$2,810$2,040$1,454$1,021$708$111
30 years$2,687$1,926$1,355$937$640$93
31 years$2,572$1,821$1,263$861$579$78
32 years$2,465$1,723$1,178$791$523$65
33 years$2,364$1,632$1,100$727$474$54
34 years$2,269$1,546$1,028$669$429$45
35 years$2,180$1,467$961$616$388$38
36 years$2,096$1,392$899$567$352$32
37 years$2,017$1,322$841$523$319$26
38 years$1,943$1,257$788$482$289$22
39 years$1,872$1,195$738$444$262$18
40 years$1,805$1,137$692$410$238$15
41 years$1,741$1,082$649$378$216$13
42 years$1,681$1,031$609$349$196$11
43 years$1,623$982$571$322$178$9
44 years$1,568$936$536$297$161$8
45 years$1,516$893$503$275$146$6
46 years$1,466$852$473$254$133$5
47 years$1,419$813$444$234$121$4
48 years$1,374$776$417$217$110$4
49 years$1,330$741$392$200$100$3
50 years$1,289$708$369$185$90$3

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 $4,758 every year, while hoping to spend $52,130 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: 81/10/9 Blend
65$1,320,000$1,320,000$1,320,000$1,320,000
66$1,459,548$1,389,588$1,369,128$1,575,494
67$1,552,956$1,402,212$1,359,528$1,664,770
68$1,654,144$1,413,707$1,347,859$1,755,371
69$1,763,852$1,423,963$1,333,997$1,853,248
70$1,882,890$1,432,863$1,317,811$1,959,100
71$2,012,153$1,440,282$1,299,166$2,073,701
72$2,152,623$1,446,086$1,277,919$2,197,898
73$2,305,381$1,450,134$1,253,919$2,332,630
74$2,471,615$1,452,276$1,227,011$2,478,926
75$2,652,634$1,452,352$1,197,030$2,637,924
76$2,849,878$1,450,193$1,163,806$2,810,874
77$3,064,932$1,445,618$1,127,159$2,999,155
78$3,299,538$1,438,437$1,086,902$3,204,287
79$3,555,617$1,428,446$1,042,839$3,427,944
80$3,835,280$1,415,431$994,765$3,671,970
81$4,140,855$1,399,163$942,466$3,938,398
82$4,474,901$1,379,400$885,717$4,229,467
83$4,840,238$1,355,888$824,286$4,547,645
84$5,239,969$1,328,353$757,926$4,895,652
85$5,677,513$1,296,509$686,384$5,276,485
86$6,156,632$1,260,052$609,391$5,693,448
87$6,681,473$1,218,658$526,669$6,150,179
88$7,256,598$1,171,988$437,928$6,650,692
89$7,887,035$1,119,679$342,862$7,199,406
90$8,578,320$1,061,351$241,156$7,801,195
91$9,336,550$996,598$132,476$8,461,428
92$10,168,442$924,996$16,478$9,186,023
93$11,081,393$846,090$0$9,981,504
94$12,083,552$759,406$0$10,865,364
95$13,183,895$664,437$0$11,837,580
96$14,392,309$560,651$0$12,905,337
97$15,719,686$447,485$0$14,078,299
98$17,178,026$324,343$0$15,367,114
99$18,780,547$190,598$0$16,783,514
100$20,541,811$45,586$0$18,340,431