Can I retire at age 66 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$117,262$116,218$115,199$114,204$113,233$110,272
2 years$58,051$56,969$55,922$54,906$53,920$50,957
3 years$38,316$37,230$36,185$35,179$34,209$31,337
4 years$28,451$27,368$26,333$25,344$24,398$21,639
5 years$22,533$21,457$20,436$19,467$18,547$15,908
6 years$18,589$17,521$16,515$15,568$14,676$12,160
7 years$15,773$14,714$13,724$12,799$11,935$9,543
8 years$13,662$12,613$11,639$10,737$9,902$7,631
9 years$12,021$10,982$10,025$9,145$8,339$6,188
10 years$10,709$9,680$8,740$7,883$7,105$5,071
11 years$9,636$8,617$7,694$6,861$6,110$4,191
12 years$8,743$7,735$6,829$6,018$5,295$3,487
13 years$7,988$6,990$6,101$5,313$4,617$2,916
14 years$7,341$6,354$5,482$4,716$4,048$2,450
15 years$6,781$5,804$4,949$4,206$3,564$2,065
16 years$6,291$5,325$4,487$3,766$3,150$1,746
17 years$5,860$4,904$4,083$3,384$2,793$1,480
18 years$5,476$4,532$3,727$3,049$2,483$1,257
19 years$5,134$4,200$3,412$2,755$2,213$1,069
20 years$4,826$3,903$3,132$2,496$1,977$911
21 years$4,548$3,635$2,880$2,265$1,769$777
22 years$4,295$3,393$2,655$2,059$1,586$664
23 years$4,065$3,174$2,451$1,875$1,424$567
24 years$3,855$2,974$2,267$1,711$1,280$485
25 years$3,661$2,791$2,100$1,562$1,151$415
26 years$3,483$2,623$1,947$1,428$1,037$356
27 years$3,318$2,468$1,808$1,307$935$305
28 years$3,165$2,326$1,681$1,198$844$261
29 years$3,023$2,194$1,564$1,098$762$224
30 years$2,891$2,072$1,457$1,008$688$192
31 years$2,767$1,959$1,358$926$622$165
32 years$2,651$1,854$1,267$851$563$141
33 years$2,543$1,755$1,183$782$509$121
34 years$2,441$1,664$1,106$720$461$104
35 years$2,346$1,578$1,034$663$418$89
36 years$2,255$1,498$967$610$379$77
37 years$2,170$1,422$905$562$343$66
38 years$2,090$1,352$848$518$311$57
39 years$2,014$1,285$794$478$282$49
40 years$1,941$1,223$744$441$256$42
41 years$1,873$1,164$698$407$232$36
42 years$1,808$1,109$655$375$211$31
43 years$1,746$1,056$614$347$191$26
44 years$1,687$1,007$577$320$173$23
45 years$1,631$960$541$295$158$19
46 years$1,578$916$509$273$143$17
47 years$1,527$874$478$252$130$14
48 years$1,478$835$449$233$118$12
49 years$1,431$797$422$215$107$11
50 years$1,386$761$397$199$97$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,420,000, adding $5,108 every year, while hoping to spend $44,573 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: 64/12/24 Blend
65$1,420,000$1,420,000$1,420,000$1,420,000
66$1,570,109$1,494,849$1,472,839$1,660,444
67$1,682,835$1,520,671$1,474,754$1,747,846
68$1,805,565$1,546,265$1,475,239$1,837,865
69$1,939,272$1,571,572$1,474,199$1,935,216
70$2,085,028$1,596,529$1,471,535$2,040,622
71$2,244,012$1,621,070$1,467,142$2,154,879
72$2,417,520$1,645,122$1,460,911$2,278,867
73$2,606,983$1,668,608$1,452,727$2,413,556
74$2,813,970$1,691,445$1,442,469$2,560,013
75$3,040,215$1,713,545$1,430,011$2,719,418
76$3,287,622$1,734,814$1,415,221$2,893,069
77$3,558,289$1,755,150$1,397,961$3,082,401
78$3,854,528$1,774,445$1,378,086$3,288,992
79$4,178,881$1,792,585$1,355,443$3,514,586
80$4,534,151$1,809,445$1,329,875$3,761,103
81$4,923,423$1,824,897$1,301,214$4,030,661
82$5,350,095$1,838,799$1,269,287$4,325,598
83$5,817,908$1,851,004$1,233,911$4,648,487
84$6,330,984$1,861,353$1,194,897$5,002,169
85$6,893,863$1,869,678$1,152,045$5,389,776
86$7,511,545$1,875,800$1,105,146$5,814,760
87$8,189,538$1,879,529$1,053,984$6,280,927
88$8,933,908$1,880,663$998,329$6,792,474
89$9,751,338$1,878,987$937,945$7,354,030
90$10,649,191$1,874,274$872,583$7,970,695
91$11,635,575$1,866,281$801,982$8,648,096
92$12,719,427$1,854,751$725,871$9,392,434
93$13,910,588$1,839,413$643,966$10,210,547
94$15,219,901$1,819,977$555,972$11,109,971
95$16,659,312$1,796,138$461,579$12,099,019
96$18,241,983$1,767,570$360,464$13,186,850
97$19,982,415$1,733,930$252,289$14,383,566
98$21,896,583$1,694,855$136,702$15,700,302
99$24,002,089$1,649,957$13,336$17,149,331
100$26,318,326$1,598,829$0$18,744,185