Can I retire at age 65 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$84,231$83,480$82,748$82,034$81,336$80,022
2 years$41,698$40,922$40,169$39,439$38,732$37,411
3 years$27,523$26,743$25,992$25,269$24,573$23,287
4 years$20,436$19,659$18,916$18,205$17,526$16,285
5 years$16,186$15,413$14,679$13,983$13,323$12,130
6 years$13,353$12,586$11,863$11,182$10,542$9,399
7 years$11,330$10,569$9,858$9,194$8,573$7,480
8 years$9,814$9,060$8,361$7,712$7,112$6,069
9 years$8,635$7,888$7,201$6,569$5,990$4,996
10 years$7,692$6,953$6,278$5,663$5,103$4,158
11 years$6,922$6,190$5,527$4,928$4,389$3,492
12 years$6,280$5,556$4,905$4,323$3,804$2,952
13 years$5,738$5,021$4,382$3,816$3,317$2,511
14 years$5,273$4,564$3,938$3,388$2,907$2,145
15 years$4,871$4,169$3,555$3,021$2,560$1,840
16 years$4,519$3,825$3,223$2,705$2,262$1,584
17 years$4,209$3,523$2,933$2,431$2,006$1,367
18 years$3,934$3,255$2,677$2,190$1,784$1,182
19 years$3,688$3,017$2,451$1,979$1,590$1,025
20 years$3,467$2,803$2,249$1,793$1,420$890
21 years$3,267$2,611$2,069$1,627$1,271$773
22 years$3,085$2,438$1,907$1,479$1,139$673
23 years$2,920$2,280$1,761$1,347$1,023$587
24 years$2,769$2,136$1,628$1,229$919$512
25 years$2,630$2,005$1,508$1,122$827$447
26 years$2,502$1,884$1,399$1,026$745$390
27 years$2,383$1,773$1,299$939$672$341
28 years$2,273$1,671$1,208$860$606$299
29 years$2,171$1,576$1,124$789$547$261
30 years$2,076$1,488$1,047$724$494$229
31 years$1,988$1,407$976$665$447$200
32 years$1,905$1,331$910$611$404$175
33 years$1,827$1,261$850$562$366$154
34 years$1,754$1,195$794$517$331$135
35 years$1,685$1,133$743$476$300$118
36 years$1,620$1,076$695$438$272$104
37 years$1,559$1,022$650$404$246$91
38 years$1,501$971$609$372$223$80
39 years$1,446$923$570$343$203$70
40 years$1,395$879$535$317$184$61
41 years$1,345$836$501$292$167$54
42 years$1,299$796$470$270$151$47
43 years$1,254$759$441$249$137$41
44 years$1,212$723$414$230$125$36
45 years$1,172$690$389$212$113$32
46 years$1,133$658$365$196$103$28
47 years$1,097$628$343$181$93$25
48 years$1,061$599$323$167$85$22
49 years$1,028$572$303$155$77$19
50 years$996$547$285$143$70$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,020,000, adding $6,515 every year, while hoping to spend $59,087 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: 76/18/6 Blend
64$1,020,000$1,020,000$1,020,000$1,020,000
65$1,130,760$1,076,700$1,060,890$1,215,529
66$1,183,230$1,066,590$1,033,562$1,262,018
67$1,239,071$1,054,005$1,003,338$1,304,710
68$1,298,565$1,038,760$970,058$1,349,776
69$1,362,020$1,020,661$933,557$1,397,426
70$1,429,774$999,502$893,660$1,447,894
71$1,502,198$975,064$850,184$1,501,438
72$1,579,696$947,116$802,939$1,558,342
73$1,662,713$915,413$751,726$1,618,919
74$1,751,738$879,696$696,336$1,683,518
75$1,847,305$839,691$636,554$1,752,521
76$1,950,002$795,108$572,150$1,826,351
77$2,060,474$745,640$502,889$1,905,477
78$2,179,428$690,962$428,522$1,990,414
79$2,307,643$630,732$348,790$2,081,733
80$2,445,972$564,587$263,423$2,180,065
81$2,595,353$492,144$172,140$2,286,105
82$2,756,817$412,997$74,645$2,400,624
83$2,931,498$326,720$0$2,524,469
84$3,120,642$232,860$0$2,660,463
85$3,325,617$130,940$0$2,812,980
86$3,547,930$20,456$0$2,978,404
87$3,789,236$0$0$3,158,021
88$4,051,358$0$0$3,372,884
89$4,336,297$0$0$3,610,890
90$4,646,259$0$0$3,869,832
91$4,983,669$0$0$4,151,742
92$5,351,194$0$0$4,458,853
93$5,751,771$0$0$4,793,624
94$6,188,632$0$0$5,158,761
95$6,665,334$0$0$5,557,241
96$7,185,791$0$0$5,992,343
97$7,754,313$0$0$6,467,676
98$8,375,645$0$0$6,987,213
99$9,055,011$0$0$7,555,327
100$9,798,160$0$0$8,176,834