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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$92,489$91,665$90,861$90,076$89,310$87,222
2 years$45,786$44,934$44,107$43,306$42,529$40,437
3 years$30,221$29,365$28,540$27,747$26,982$24,952
4 years$22,440$21,586$20,770$19,990$19,244$17,291
5 years$17,772$16,924$16,118$15,354$14,629$12,758
6 years$14,662$13,820$13,026$12,279$11,575$9,789
7 years$12,441$11,606$10,825$10,095$9,414$7,713
8 years$10,776$9,948$9,180$8,469$7,810$6,193
9 years$9,482$8,662$7,907$7,213$6,577$5,043
10 years$8,447$7,635$6,893$6,218$5,604$4,151
11 years$7,601$6,797$6,069$5,411$4,819$3,446
12 years$6,896$6,100$5,386$4,747$4,176$2,880
13 years$6,300$5,513$4,812$4,191$3,642$2,420
14 years$5,790$5,011$4,324$3,720$3,193$2,043
15 years$5,348$4,578$3,904$3,317$2,811$1,731
16 years$4,962$4,200$3,539$2,970$2,484$1,471
17 years$4,622$3,868$3,221$2,669$2,203$1,253
18 years$4,319$3,574$2,940$2,405$1,959$1,070
19 years$4,049$3,313$2,691$2,173$1,746$915
20 years$3,807$3,078$2,470$1,968$1,559$783
21 years$3,587$2,867$2,272$1,786$1,395$672
22 years$3,388$2,677$2,094$1,624$1,251$577
23 years$3,206$2,503$1,933$1,479$1,123$496
24 years$3,040$2,345$1,788$1,349$1,009$426
25 years$2,888$2,201$1,656$1,232$908$367
26 years$2,747$2,069$1,536$1,127$818$316
27 years$2,617$1,947$1,426$1,031$737$272
28 years$2,496$1,834$1,326$945$665$235
29 years$2,384$1,731$1,234$866$601$202
30 years$2,280$1,634$1,149$795$543$175
31 years$2,182$1,545$1,071$730$491$151
32 years$2,091$1,462$1,000$671$444$130
33 years$2,006$1,384$933$617$402$112
34 years$1,925$1,312$872$568$364$97
35 years$1,850$1,245$815$523$330$84
36 years$1,779$1,181$763$481$299$72
37 years$1,712$1,122$714$444$271$62
38 years$1,648$1,066$669$409$245$54
39 years$1,588$1,014$626$377$222$47
40 years$1,531$965$587$348$202$40
41 years$1,477$918$551$321$183$35
42 years$1,426$874$516$296$166$30
43 years$1,377$833$485$273$151$26
44 years$1,331$794$455$252$137$22
45 years$1,286$757$427$233$124$19
46 years$1,244$723$401$215$113$17
47 years$1,204$689$377$199$102$14
48 years$1,166$658$354$184$93$13
49 years$1,129$629$333$170$84$11
50 years$1,094$600$313$157$77$9

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 $2,768 every year, while hoping to spend $26,051 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: 60/21/19 Blend
66$1,120,000$1,120,000$1,120,000$1,120,000
67$1,237,095$1,177,735$1,160,375$1,305,045
68$1,335,561$1,207,726$1,171,530$1,381,328
69$1,443,197$1,238,314$1,182,185$1,461,396
70$1,560,911$1,269,499$1,192,296$1,548,154
71$1,689,703$1,301,284$1,201,817$1,642,255
72$1,830,674$1,333,668$1,210,699$1,744,417
73$1,985,035$1,366,650$1,218,890$1,855,432
74$2,154,122$1,400,229$1,226,336$1,976,170
75$2,339,403$1,434,401$1,232,979$2,107,593
76$2,542,499$1,469,163$1,238,760$2,250,757
77$2,765,191$1,504,510$1,243,616$2,406,828
78$3,009,444$1,540,434$1,247,481$2,577,091
79$3,277,420$1,576,928$1,250,284$2,762,959
80$3,571,501$1,613,982$1,251,953$2,965,991
81$3,894,312$1,651,584$1,252,411$3,187,906
82$4,248,743$1,689,723$1,251,578$3,430,595
83$4,637,978$1,728,382$1,249,369$3,696,145
84$5,065,524$1,767,546$1,245,696$3,986,853
85$5,535,247$1,807,195$1,240,465$4,305,252
86$6,051,401$1,847,307$1,233,580$4,654,133
87$6,618,678$1,887,858$1,224,939$5,036,571
88$7,242,242$1,928,823$1,214,434$5,455,956
89$7,927,787$1,970,171$1,201,953$5,916,023
90$8,681,583$2,011,871$1,187,380$6,420,887
91$9,510,538$2,053,887$1,170,591$6,975,086
92$10,422,266$2,096,179$1,151,458$7,583,618
93$11,425,151$2,138,707$1,129,847$8,251,994
94$12,528,435$2,181,422$1,105,615$8,986,284
95$13,742,298$2,224,274$1,078,616$9,793,181
96$15,077,958$2,267,209$1,048,695$10,680,059
97$16,547,775$2,310,167$1,015,691$11,655,046
98$18,165,366$2,353,084$979,436$12,727,100
99$19,945,738$2,395,890$939,752$13,906,091
100$21,905,425$2,438,510$896,454$15,202,901