Can I retire at age 67 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$85,056$84,299$83,560$82,838$82,134$81,480
2 years$42,107$41,323$40,563$39,826$39,111$38,452
3 years$27,793$27,005$26,247$25,517$24,814$24,170
4 years$20,637$19,852$19,101$18,384$17,697$17,073
5 years$16,344$15,564$14,823$14,120$13,453$12,851
6 years$13,484$12,709$11,979$11,292$10,645$10,066
7 years$11,441$10,673$9,955$9,284$8,657$8,101
8 years$9,910$9,149$8,443$7,788$7,182$6,649
9 years$8,720$7,966$7,272$6,634$6,048$5,538
10 years$7,768$7,021$6,339$5,718$5,154$4,666
11 years$6,990$6,251$5,581$4,977$4,432$3,966
12 years$6,342$5,610$4,953$4,365$3,841$3,397
13 years$5,794$5,070$4,425$3,854$3,349$2,927
14 years$5,325$4,609$3,976$3,421$2,936$2,534
15 years$4,918$4,210$3,590$3,051$2,585$2,203
16 years$4,563$3,863$3,255$2,732$2,285$1,923
17 years$4,250$3,557$2,962$2,454$2,026$1,683
18 years$3,972$3,287$2,704$2,212$1,801$1,476
19 years$3,724$3,046$2,475$1,999$1,605$1,298
20 years$3,501$2,831$2,272$1,810$1,434$1,144
21 years$3,299$2,637$2,089$1,643$1,283$1,010
22 years$3,116$2,461$1,926$1,494$1,150$892
23 years$2,949$2,302$1,778$1,360$1,033$790
24 years$2,796$2,157$1,644$1,241$928$700
25 years$2,655$2,024$1,523$1,133$835$621
26 years$2,526$1,902$1,413$1,036$752$551
27 years$2,407$1,790$1,312$948$678$489
28 years$2,296$1,687$1,219$869$612$435
29 years$2,193$1,592$1,135$797$553$387
30 years$2,097$1,503$1,057$731$499$344
31 years$2,007$1,421$985$672$451$306
32 years$1,923$1,344$919$617$408$273
33 years$1,845$1,273$858$568$370$243
34 years$1,771$1,207$802$522$335$217
35 years$1,701$1,145$750$481$303$193
36 years$1,636$1,086$701$443$275$172
37 years$1,574$1,032$657$408$249$154
38 years$1,516$981$615$376$226$137
39 years$1,461$932$576$347$205$122
40 years$1,408$887$540$320$186$109
41 years$1,359$844$506$295$168$97
42 years$1,311$804$475$272$153$87
43 years$1,266$766$446$251$139$78
44 years$1,224$730$418$232$126$69
45 years$1,183$697$393$214$114$62
46 years$1,144$664$369$198$104$55
47 years$1,107$634$347$183$94$49
48 years$1,072$605$326$169$86$44
49 years$1,038$578$306$156$78$39
50 years$1,006$552$288$144$71$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $1,030,000, adding $5,008 every year, while hoping to spend $23,829 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: 42/30/28 Blend
66$1,030,000$1,030,000$1,030,000$1,030,000
67$1,140,226$1,085,636$1,069,671$1,178,587
68$1,231,175$1,113,478$1,080,151$1,234,519
69$1,330,602$1,141,886$1,090,183$1,292,435
70$1,439,347$1,170,862$1,099,728$1,354,702
71$1,558,335$1,200,408$1,108,743$1,421,738
72$1,688,582$1,230,526$1,117,183$1,494,001
73$1,831,211$1,261,215$1,125,002$1,571,996
74$1,987,455$1,292,475$1,132,150$1,656,281
75$2,158,674$1,324,305$1,138,576$1,747,469
76$2,346,365$1,356,702$1,144,225$1,846,236
77$2,552,177$1,389,663$1,149,039$1,953,329
78$2,777,926$1,423,184$1,152,959$2,069,568
79$3,025,613$1,457,258$1,155,921$2,195,861
80$3,297,440$1,491,878$1,157,859$2,333,204
81$3,595,835$1,527,036$1,158,703$2,482,699
82$3,923,471$1,562,721$1,158,381$2,645,559
83$4,283,293$1,598,923$1,156,814$2,823,121
84$4,678,544$1,635,626$1,153,923$3,016,858
85$5,112,800$1,672,816$1,149,624$3,228,396
86$5,589,997$1,710,475$1,143,828$3,459,527
87$6,114,472$1,748,583$1,136,441$3,712,223
88$6,691,004$1,787,120$1,127,368$3,988,663
89$7,324,857$1,826,059$1,116,505$4,291,246
90$8,021,831$1,865,375$1,103,747$4,622,617
91$8,788,317$1,905,037$1,088,981$4,985,692
92$9,631,354$1,945,013$1,072,091$5,383,685
93$10,558,700$1,985,266$1,052,954$5,820,140
94$11,578,901$2,025,758$1,031,442$6,298,963
95$12,701,374$2,066,445$1,007,420$6,824,461
96$13,936,494$2,107,281$980,748$7,401,380
97$15,295,692$2,148,214$951,280$8,034,953
98$16,791,566$2,189,190$918,861$8,730,949
99$18,437,994$2,230,148$883,331$9,495,725
100$20,250,269$2,271,025$844,522$10,336,291