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

Use the below retirement simulation to view the chances of a successful retirement.
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%11.8%
1 years$109,004$108,033$107,086$106,161$105,259$104,464
2 years$53,963$52,958$51,984$51,039$50,123$49,322
3 years$35,618$34,608$33,637$32,701$31,800$31,017
4 years$26,447$25,441$24,479$23,559$22,680$21,922
5 years$20,946$19,946$18,997$18,096$17,241$16,509
6 years$17,280$16,287$15,352$14,471$13,642$12,938
7 years$14,662$13,678$12,758$11,898$11,095$10,418
8 years$12,700$11,725$10,820$9,981$9,204$8,555
9 years$11,175$10,208$9,319$8,501$7,751$7,130
10 years$9,955$8,998$8,124$7,328$6,604$6,011
11 years$8,958$8,011$7,153$6,378$5,680$5,113
12 years$8,127$7,190$6,348$5,594$4,922$4,382
13 years$7,425$6,498$5,671$4,939$4,292$3,777
14 years$6,824$5,906$5,096$4,384$3,763$3,273
15 years$6,303$5,395$4,601$3,910$3,313$2,848
16 years$5,848$4,950$4,171$3,501$2,928$2,486
17 years$5,447$4,559$3,796$3,146$2,596$2,178
18 years$5,091$4,213$3,465$2,835$2,308$1,912
19 years$4,772$3,904$3,172$2,561$2,057$1,683
20 years$4,486$3,628$2,911$2,320$1,838$1,484
21 years$4,228$3,379$2,678$2,105$1,645$1,311
22 years$3,993$3,154$2,468$1,914$1,474$1,159
23 years$3,779$2,950$2,279$1,743$1,323$1,027
24 years$3,583$2,764$2,107$1,590$1,189$910
25 years$3,403$2,594$1,952$1,452$1,070$808
26 years$3,237$2,438$1,810$1,328$964$718
27 years$3,084$2,294$1,681$1,215$869$638
28 years$2,942$2,162$1,563$1,114$784$568
29 years$2,810$2,040$1,454$1,021$708$505
30 years$2,687$1,926$1,355$937$640$450
31 years$2,572$1,821$1,263$861$579$401
32 years$2,465$1,723$1,178$791$523$357
33 years$2,364$1,632$1,100$727$474$319
34 years$2,269$1,546$1,028$669$429$284
35 years$2,180$1,467$961$616$388$254
36 years$2,096$1,392$899$567$352$226
37 years$2,017$1,322$841$523$319$202
38 years$1,943$1,257$788$482$289$180
39 years$1,872$1,195$738$444$262$161
40 years$1,805$1,137$692$410$238$144
41 years$1,741$1,082$649$378$216$129
42 years$1,681$1,031$609$349$196$115
43 years$1,623$982$571$322$178$103
44 years$1,568$936$536$297$161$92
45 years$1,516$893$503$275$146$82
46 years$1,466$852$473$254$133$73
47 years$1,419$813$444$234$121$66
48 years$1,374$776$417$217$110$59
49 years$1,330$741$392$200$100$52
50 years$1,289$708$369$185$90$47

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 $2,761 every year, while hoping to spend $28,575 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: 80/9/11 Blend
65$1,320,000$1,320,000$1,320,000$1,320,000
66$1,457,488$1,387,528$1,367,068$1,571,078
67$1,575,748$1,425,113$1,382,461$1,683,617
68$1,705,113$1,463,583$1,397,412$1,803,082
69$1,846,686$1,502,949$1,411,876$1,933,342
70$2,001,679$1,543,225$1,425,806$2,075,462
71$2,171,431$1,584,424$1,439,151$2,230,617
72$2,357,414$1,626,557$1,451,859$2,400,098
73$2,561,248$1,669,637$1,463,875$2,585,332
74$2,784,720$1,713,674$1,475,139$2,787,887
75$3,029,796$1,758,678$1,485,591$3,009,490
76$3,298,643$1,804,661$1,495,166$3,252,044
77$3,593,645$1,851,630$1,503,795$3,517,648
78$3,917,432$1,899,595$1,511,407$3,808,609
79$4,272,899$1,948,564$1,517,928$4,127,474
80$4,663,233$1,998,542$1,523,277$4,477,044
81$5,091,948$2,049,536$1,527,372$4,860,407
82$5,562,914$2,101,550$1,530,126$5,280,967
83$6,080,393$2,154,588$1,531,447$5,742,471
84$6,649,082$2,208,651$1,531,239$6,249,048
85$7,274,154$2,263,741$1,529,402$6,805,250
86$7,961,310$2,319,857$1,525,829$7,416,089
87$8,716,830$2,376,996$1,520,410$8,087,088
88$9,547,632$2,435,154$1,513,029$8,824,334
89$10,461,339$2,494,325$1,503,564$9,634,533
90$11,466,349$2,554,501$1,491,887$10,525,074
91$12,571,915$2,615,670$1,477,864$11,504,098
92$13,788,234$2,677,821$1,461,356$12,580,576
93$15,126,537$2,740,938$1,442,215$13,764,393
94$16,599,202$2,805,002$1,420,288$15,066,443
95$18,219,867$2,869,993$1,395,413$16,498,727
96$20,003,557$2,935,886$1,367,423$18,074,472
97$21,966,829$3,002,654$1,336,141$19,808,251
98$24,127,926$3,070,265$1,301,383$21,716,124
99$26,506,951$3,138,684$1,262,955$23,815,787
100$29,126,053$3,207,872$1,220,657$26,126,742