Can I retire at age 67 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$102,398$101,486$100,596$99,727$98,879$97,121
2 years$50,692$49,748$48,833$47,946$47,085$45,320
3 years$33,459$32,511$31,598$30,719$29,873$28,156
4 years$24,844$23,899$22,995$22,132$21,306$19,649
5 years$19,677$18,737$17,845$16,999$16,196$14,606
6 years$16,233$15,300$14,422$13,594$12,815$11,293
7 years$13,774$12,849$11,985$11,177$10,422$8,968
8 years$11,930$11,014$10,164$9,376$8,646$7,259
9 years$10,497$9,590$8,754$7,986$7,282$5,961
10 years$9,352$8,453$7,632$6,884$6,204$4,950
11 years$8,415$7,525$6,719$5,991$5,336$4,146
12 years$7,635$6,754$5,963$5,255$4,624$3,496
13 years$6,975$6,104$5,328$4,640$4,032$2,966
14 years$6,410$5,548$4,787$4,118$3,535$2,527
15 years$5,921$5,068$4,322$3,673$3,112$2,162
16 years$5,494$4,650$3,918$3,289$2,750$1,855
17 years$5,117$4,283$3,566$2,955$2,439$1,596
18 years$4,782$3,957$3,255$2,663$2,168$1,377
19 years$4,483$3,668$2,980$2,406$1,933$1,190
20 years$4,214$3,408$2,735$2,179$1,726$1,030
21 years$3,971$3,174$2,515$1,978$1,545$893
22 years$3,751$2,963$2,318$1,798$1,385$775
23 years$3,550$2,771$2,141$1,638$1,243$673
24 years$3,366$2,597$1,980$1,494$1,117$585
25 years$3,197$2,437$1,834$1,364$1,005$509
26 years$3,041$2,290$1,701$1,247$906$444
27 years$2,897$2,155$1,579$1,142$817$387
28 years$2,764$2,031$1,468$1,046$737$337
29 years$2,640$1,916$1,366$959$665$294
30 years$2,524$1,810$1,272$880$601$257
31 years$2,416$1,711$1,186$809$543$224
32 years$2,315$1,619$1,107$743$492$196
33 years$2,221$1,533$1,033$683$445$171
34 years$2,132$1,453$966$629$403$149
35 years$2,048$1,378$903$579$365$130
36 years$1,969$1,308$844$533$331$114
37 years$1,895$1,242$790$491$300$100
38 years$1,825$1,180$740$453$272$87
39 years$1,758$1,123$693$417$246$76
40 years$1,695$1,068$650$385$223$67
41 years$1,635$1,017$609$355$203$58
42 years$1,579$968$572$328$184$51
43 years$1,525$922$536$303$167$44
44 years$1,473$879$504$279$152$39
45 years$1,424$839$473$258$138$34
46 years$1,378$800$444$238$125$30
47 years$1,333$763$417$220$113$26
48 years$1,290$729$392$203$103$23
49 years$1,250$696$369$188$94$20
50 years$1,211$665$346$174$85$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $1,240,000, adding $2,053 every year, while hoping to spend $49,378 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: 73/5/22 Blend
66$1,240,000$1,240,000$1,240,000$1,240,000
67$1,368,598$1,302,878$1,283,658$1,461,005
68$1,455,657$1,314,181$1,274,122$1,534,072
69$1,549,941$1,324,383$1,262,613$1,607,977
70$1,652,135$1,333,378$1,249,010$1,687,711
71$1,762,992$1,341,053$1,233,192$1,773,845
72$1,883,341$1,347,287$1,215,027$1,867,011
73$2,014,091$1,351,954$1,194,379$1,967,902
74$2,156,245$1,354,917$1,171,108$2,077,287
75$2,310,906$1,356,031$1,145,064$2,196,010
76$2,479,285$1,355,144$1,116,091$2,325,004
77$2,662,719$1,352,092$1,084,026$2,465,297
78$2,862,675$1,346,703$1,048,700$2,618,023
79$3,080,769$1,338,794$1,009,933$2,784,432
80$3,318,782$1,328,169$967,540$2,965,904
81$3,578,671$1,314,622$921,325$3,163,958
82$3,862,591$1,297,935$871,086$3,380,271
83$4,172,917$1,277,875$816,609$3,616,692
84$4,512,261$1,254,197$757,671$3,875,260
85$4,883,499$1,226,641$694,041$4,158,223
86$5,289,800$1,194,930$625,476$4,468,059
87$5,734,651$1,158,773$551,721$4,807,502
88$6,221,894$1,117,862$472,512$5,179,566
89$6,755,759$1,071,868$387,572$5,587,572
90$7,340,903$1,020,447$296,613$6,035,187
91$7,982,458$963,232$199,333$6,526,449
92$8,686,075$899,835$95,416$7,065,812
93$9,457,976$829,849$0$7,658,187
94$10,305,018$752,840$0$8,312,624
95$11,234,751$668,351$0$9,055,595
96$12,255,494$575,898$0$9,871,346
97$13,376,409$474,972$0$10,767,219
98$14,607,589$365,032$0$11,751,305
99$15,960,153$245,508$0$12,832,520
100$17,446,351$115,800$0$14,020,684