Can I retire at age 67 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$84,231$83,480$82,748$82,034$81,336$80,858
2 years$41,698$40,922$40,169$39,439$38,732$38,249
3 years$27,523$26,743$25,992$25,269$24,573$24,101
4 years$20,436$19,659$18,916$18,205$17,526$17,068
5 years$16,186$15,413$14,679$13,983$13,323$12,880
6 years$13,353$12,586$11,863$11,182$10,542$10,116
7 years$11,330$10,569$9,858$9,194$8,573$8,164
8 years$9,814$9,060$8,361$7,712$7,112$6,719
9 years$8,635$7,888$7,201$6,569$5,990$5,613
10 years$7,692$6,953$6,278$5,663$5,103$4,743
11 years$6,922$6,190$5,527$4,928$4,389$4,045
12 years$6,280$5,556$4,905$4,323$3,804$3,475
13 years$5,738$5,021$4,382$3,816$3,317$3,003
14 years$5,273$4,564$3,938$3,388$2,907$2,609
15 years$4,871$4,169$3,555$3,021$2,560$2,276
16 years$4,519$3,825$3,223$2,705$2,262$1,993
17 years$4,209$3,523$2,933$2,431$2,006$1,750
18 years$3,934$3,255$2,677$2,190$1,784$1,541
19 years$3,688$3,017$2,451$1,979$1,590$1,360
20 years$3,467$2,803$2,249$1,793$1,420$1,203
21 years$3,267$2,611$2,069$1,627$1,271$1,065
22 years$3,085$2,438$1,907$1,479$1,139$945
23 years$2,920$2,280$1,761$1,347$1,023$840
24 years$2,769$2,136$1,628$1,229$919$747
25 years$2,630$2,005$1,508$1,122$827$665
26 years$2,502$1,884$1,399$1,026$745$592
27 years$2,383$1,773$1,299$939$672$528
28 years$2,273$1,671$1,208$860$606$472
29 years$2,171$1,576$1,124$789$547$421
30 years$2,076$1,488$1,047$724$494$376
31 years$1,988$1,407$976$665$447$336
32 years$1,905$1,331$910$611$404$301
33 years$1,827$1,261$850$562$366$269
34 years$1,754$1,195$794$517$331$241
35 years$1,685$1,133$743$476$300$216
36 years$1,620$1,076$695$438$272$193
37 years$1,559$1,022$650$404$246$173
38 years$1,501$971$609$372$223$155
39 years$1,446$923$570$343$203$139
40 years$1,395$879$535$317$184$124
41 years$1,345$836$501$292$167$112
42 years$1,299$796$470$270$151$100
43 years$1,254$759$441$249$137$90
44 years$1,212$723$414$230$125$80
45 years$1,172$690$389$212$113$72
46 years$1,133$658$365$196$103$65
47 years$1,097$628$343$181$93$58
48 years$1,061$599$323$167$85$52
49 years$1,028$572$303$155$77$47
50 years$996$547$285$143$70$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $1,020,000, adding $5,629 every year, while hoping to spend $56,378 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: 47/38/15 Blend
66$1,020,000$1,020,000$1,020,000$1,020,000
67$1,129,846$1,075,786$1,059,976$1,177,930
68$1,185,105$1,068,514$1,035,500$1,204,567
69$1,244,110$1,058,996$1,008,314$1,227,255
70$1,307,185$1,047,062$978,268$1,250,648
71$1,374,683$1,032,534$945,205$1,274,835
72$1,446,992$1,015,219$908,961$1,299,915
73$1,524,538$994,917$869,363$1,326,000
74$1,607,786$971,414$826,232$1,353,221
75$1,697,250$944,483$779,381$1,381,722
76$1,793,492$913,884$728,612$1,411,670
77$1,897,128$879,365$673,721$1,443,251
78$2,008,838$840,656$614,493$1,476,677
79$2,129,365$797,474$550,705$1,512,185
80$2,259,528$749,519$482,121$1,550,044
81$2,400,227$696,472$408,499$1,590,555
82$2,552,448$637,997$329,582$1,634,056
83$2,717,280$573,741$245,105$1,680,927
84$2,895,915$503,327$154,789$1,731,596
85$3,089,668$426,359$58,343$1,786,538
86$3,299,982$342,419$0$1,846,288
87$3,528,445$251,063$0$1,918,579
88$3,776,806$151,825$0$2,007,372
89$4,046,987$44,210$0$2,104,119
90$4,341,101$0$0$2,209,706
91$4,661,477$0$0$2,355,353
92$5,010,674$0$0$2,534,358
93$5,391,513$0$0$2,729,692
94$5,807,094$0$0$2,942,960
95$6,260,832$0$0$3,175,929
96$6,756,486$0$0$3,430,544
97$7,298,194$0$0$3,708,945
98$7,890,511$0$0$4,013,491
99$8,538,454$0$0$4,346,776
100$9,247,544$0$0$4,711,660