Can I retire at age 67 with 1,050,000?

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 $1,050,000?

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$86,708$85,936$85,182$84,447$83,728$83,096
2 years$42,925$42,125$41,351$40,599$39,871$39,233
3 years$28,332$27,529$26,757$26,012$25,296$24,673
4 years$21,037$20,237$19,472$18,740$18,041$17,438
5 years$16,662$15,866$15,111$14,394$13,715$13,132
6 years$13,745$12,956$12,212$11,511$10,852$10,291
7 years$11,663$10,880$10,148$9,464$8,825$8,287
8 years$10,102$9,326$8,606$7,939$7,322$6,805
9 years$8,889$8,120$7,413$6,762$6,166$5,672
10 years$7,919$7,158$6,463$5,829$5,254$4,781
11 years$7,125$6,372$5,690$5,073$4,518$4,067
12 years$6,465$5,719$5,049$4,450$3,915$3,485
13 years$5,906$5,168$4,511$3,929$3,414$3,005
14 years$5,428$4,698$4,053$3,487$2,993$2,603
15 years$5,014$4,292$3,660$3,110$2,635$2,265
16 years$4,652$3,938$3,318$2,785$2,329$1,978
17 years$4,333$3,626$3,019$2,502$2,065$1,732
18 years$4,049$3,351$2,756$2,255$1,836$1,521
19 years$3,796$3,106$2,523$2,037$1,637$1,339
20 years$3,569$2,886$2,316$1,845$1,462$1,180
21 years$3,363$2,688$2,130$1,675$1,308$1,042
22 years$3,176$2,509$1,963$1,523$1,173$922
23 years$3,006$2,347$1,813$1,387$1,053$817
24 years$2,850$2,199$1,676$1,265$946$724
25 years$2,707$2,063$1,553$1,155$851$643
26 years$2,575$1,939$1,440$1,056$767$571
27 years$2,453$1,825$1,337$967$691$508
28 years$2,340$1,720$1,243$886$624$451
29 years$2,235$1,622$1,157$812$563$402
30 years$2,137$1,532$1,077$745$509$358
31 years$2,046$1,448$1,004$685$460$319
32 years$1,961$1,371$937$629$416$284
33 years$1,880$1,298$875$579$377$253
34 years$1,805$1,230$818$532$341$226
35 years$1,734$1,167$764$490$309$202
36 years$1,668$1,107$715$451$280$180
37 years$1,605$1,052$669$416$254$161
38 years$1,545$1,000$627$383$230$144
39 years$1,489$951$587$353$209$128
40 years$1,436$904$550$326$189$115
41 years$1,385$861$516$301$172$102
42 years$1,337$820$484$278$156$91
43 years$1,291$781$454$256$141$82
44 years$1,248$745$426$237$128$73
45 years$1,206$710$400$218$116$65
46 years$1,167$677$376$202$106$58
47 years$1,129$646$353$186$96$52
48 years$1,093$617$332$172$87$47
49 years$1,058$589$312$159$79$42
50 years$1,025$563$293$147$72$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $1,050,000, adding $5,291 every year, while hoping to spend $54,200 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: 40/49/11 Blend
66$1,050,000$1,050,000$1,050,000$1,050,000
67$1,162,558$1,106,908$1,090,633$1,205,032
68$1,223,470$1,103,478$1,069,500$1,232,040
69$1,288,779$1,098,063$1,045,844$1,255,481
70$1,358,876$1,090,510$1,019,521$1,279,632
71$1,434,190$1,080,653$990,383$1,304,584
72$1,515,192$1,068,320$958,276$1,330,437
73$1,602,400$1,053,326$923,037$1,357,306
74$1,696,382$1,035,476$884,495$1,385,322
75$1,797,762$1,014,563$842,475$1,414,633
76$1,907,225$990,369$796,790$1,445,410
77$2,025,526$962,661$747,246$1,477,842
78$2,153,492$931,194$693,641$1,512,145
79$2,292,034$895,707$635,764$1,548,564
80$2,442,151$855,927$573,392$1,587,373
81$2,604,946$811,562$506,295$1,628,881
82$2,781,626$762,305$434,232$1,673,437
83$2,973,524$707,830$356,951$1,721,430
84$3,182,102$647,792$274,188$1,773,301
85$3,408,972$581,830$185,668$1,829,541
86$3,655,905$509,557$91,106$1,890,701
87$3,924,851$430,569$0$1,957,397
88$4,217,954$344,435$0$2,031,471
89$4,537,576$250,703$0$2,124,029
90$4,886,315$148,894$0$2,225,265
91$5,267,032$38,502$0$2,336,180
92$5,682,874$0$0$2,457,888
93$6,137,309$0$0$2,635,304
94$6,634,152$0$0$2,852,106
95$7,177,604$0$0$3,089,385
96$7,772,291$0$0$3,349,176
97$8,423,307$0$0$3,633,723
98$9,136,262$0$0$3,945,497
99$9,917,332$0$0$4,287,217
100$10,773,320$0$0$4,661,879