Can I retire at age 67 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$92,489$91,665$90,861$90,076$89,310$85,801
2 years$45,786$44,934$44,107$43,306$42,529$39,036
3 years$30,221$29,365$28,540$27,747$26,982$23,616
4 years$22,440$21,586$20,770$19,990$19,244$16,030
5 years$17,772$16,924$16,118$15,354$14,629$11,575
6 years$14,662$13,820$13,026$12,279$11,575$8,684
7 years$12,441$11,606$10,825$10,095$9,414$6,684
8 years$10,776$9,948$9,180$8,469$7,810$5,239
9 years$9,482$8,662$7,907$7,213$6,577$4,161
10 years$8,447$7,635$6,893$6,218$5,604$3,338
11 years$7,601$6,797$6,069$5,411$4,819$2,699
12 years$6,896$6,100$5,386$4,747$4,176$2,195
13 years$6,300$5,513$4,812$4,191$3,642$1,794
14 years$5,790$5,011$4,324$3,720$3,193$1,472
15 years$5,348$4,578$3,904$3,317$2,811$1,211
16 years$4,962$4,200$3,539$2,970$2,484$999
17 years$4,622$3,868$3,221$2,669$2,203$826
18 years$4,319$3,574$2,940$2,405$1,959$684
19 years$4,049$3,313$2,691$2,173$1,746$567
20 years$3,807$3,078$2,470$1,968$1,559$471
21 years$3,587$2,867$2,272$1,786$1,395$391
22 years$3,388$2,677$2,094$1,624$1,251$325
23 years$3,206$2,503$1,933$1,479$1,123$271
24 years$3,040$2,345$1,788$1,349$1,009$225
25 years$2,888$2,201$1,656$1,232$908$188
26 years$2,747$2,069$1,536$1,127$818$156
27 years$2,617$1,947$1,426$1,031$737$130
28 years$2,496$1,834$1,326$945$665$109
29 years$2,384$1,731$1,234$866$601$91
30 years$2,280$1,634$1,149$795$543$76
31 years$2,182$1,545$1,071$730$491$63
32 years$2,091$1,462$1,000$671$444$53
33 years$2,006$1,384$933$617$402$44
34 years$1,925$1,312$872$568$364$37
35 years$1,850$1,245$815$523$330$31
36 years$1,779$1,181$763$481$299$25
37 years$1,712$1,122$714$444$271$21
38 years$1,648$1,066$669$409$245$18
39 years$1,588$1,014$626$377$222$15
40 years$1,531$965$587$348$202$12
41 years$1,477$918$551$321$183$10
42 years$1,426$874$516$296$166$9
43 years$1,377$833$485$273$151$7
44 years$1,331$794$455$252$137$6
45 years$1,286$757$427$233$124$5
46 years$1,244$723$401$215$113$4
47 years$1,204$689$377$199$102$3
48 years$1,166$658$354$184$93$3
49 years$1,129$629$333$170$84$2
50 years$1,094$600$313$157$77$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $1,120,000, adding $4,020 every year, while hoping to spend $41,108 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: 63/29/8 Blend
66$1,120,000$1,120,000$1,120,000$1,120,000
67$1,238,387$1,179,027$1,161,667$1,314,144
68$1,320,963$1,193,060$1,156,844$1,379,230
69$1,410,585$1,206,404$1,150,482$1,445,096
70$1,507,928$1,218,980$1,142,485$1,515,957
71$1,613,733$1,230,707$1,132,755$1,592,295
72$1,728,818$1,241,496$1,121,187$1,674,642
73$1,854,082$1,251,254$1,107,671$1,763,586
74$1,990,514$1,259,881$1,092,094$1,859,772
75$2,139,203$1,267,272$1,074,336$1,963,916
76$2,301,346$1,273,312$1,054,270$2,076,803
77$2,478,262$1,277,883$1,031,767$2,199,302
78$2,671,402$1,280,857$1,006,689$2,332,370
79$2,882,364$1,282,097$978,891$2,477,064
80$3,112,905$1,281,461$948,225$2,634,548
81$3,364,964$1,278,794$914,532$2,806,107
82$3,640,670$1,273,935$877,649$2,993,158
83$3,942,371$1,266,710$837,403$3,197,265
84$4,272,651$1,256,938$793,615$3,420,150
85$4,634,358$1,244,424$746,097$3,663,716
86$5,030,624$1,228,963$694,653$3,930,061
87$5,464,902$1,210,336$639,077$4,221,496
88$5,940,992$1,188,312$579,157$4,540,574
89$6,463,081$1,162,648$514,667$4,890,109
90$7,035,781$1,133,084$445,374$5,273,203
91$7,664,171$1,099,345$371,034$5,693,280
92$8,353,845$1,061,141$291,392$6,154,114
93$9,110,965$1,018,165$206,181$6,659,869
94$9,942,320$970,091$115,125$7,215,135
95$10,855,387$916,576$17,932$7,824,975
96$11,858,404$857,256$0$8,494,974
97$12,960,445$791,746$0$9,238,611
98$14,171,508$719,638$0$10,057,463
99$15,502,606$640,505$0$10,957,512
100$16,965,872$553,890$0$11,947,045