Can I retire at age 65 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$85,056$84,299$83,560$82,838$82,134$79,986
2 years$42,107$41,323$40,563$39,826$39,111$36,962
3 years$27,793$27,005$26,247$25,517$24,814$22,730
4 years$20,637$19,852$19,101$18,384$17,697$15,696
5 years$16,344$15,564$14,823$14,120$13,453$11,539
6 years$13,484$12,709$11,979$11,292$10,645$8,820
7 years$11,441$10,673$9,955$9,284$8,657$6,922
8 years$9,910$9,149$8,443$7,788$7,182$5,535
9 years$8,720$7,966$7,272$6,634$6,048$4,488
10 years$7,768$7,021$6,339$5,718$5,154$3,679
11 years$6,990$6,251$5,581$4,977$4,432$3,040
12 years$6,342$5,610$4,953$4,365$3,841$2,529
13 years$5,794$5,070$4,425$3,854$3,349$2,115
14 years$5,325$4,609$3,976$3,421$2,936$1,777
15 years$4,918$4,210$3,590$3,051$2,585$1,498
16 years$4,563$3,863$3,255$2,732$2,285$1,267
17 years$4,250$3,557$2,962$2,454$2,026$1,074
18 years$3,972$3,287$2,704$2,212$1,801$912
19 years$3,724$3,046$2,475$1,999$1,605$776
20 years$3,501$2,831$2,272$1,810$1,434$661
21 years$3,299$2,637$2,089$1,643$1,283$564
22 years$3,116$2,461$1,926$1,494$1,150$481
23 years$2,949$2,302$1,778$1,360$1,033$411
24 years$2,796$2,157$1,644$1,241$928$352
25 years$2,655$2,024$1,523$1,133$835$301
26 years$2,526$1,902$1,413$1,036$752$258
27 years$2,407$1,790$1,312$948$678$221
28 years$2,296$1,687$1,219$869$612$189
29 years$2,193$1,592$1,135$797$553$162
30 years$2,097$1,503$1,057$731$499$139
31 years$2,007$1,421$985$672$451$119
32 years$1,923$1,344$919$617$408$103
33 years$1,845$1,273$858$568$370$88
34 years$1,771$1,207$802$522$335$76
35 years$1,701$1,145$750$481$303$65
36 years$1,636$1,086$701$443$275$56
37 years$1,574$1,032$657$408$249$48
38 years$1,516$981$615$376$226$41
39 years$1,461$932$576$347$205$35
40 years$1,408$887$540$320$186$30
41 years$1,359$844$506$295$168$26
42 years$1,311$804$475$272$153$22
43 years$1,266$766$446$251$139$19
44 years$1,224$730$418$232$126$16
45 years$1,183$697$393$214$114$14
46 years$1,144$664$369$198$104$12
47 years$1,107$634$347$183$94$10
48 years$1,072$605$326$169$86$9
49 years$1,038$578$306$156$78$8
50 years$1,006$552$288$144$71$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,030,000, adding $4,947 every year, while hoping to spend $25,279 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: 69/13/18 Blend
64$1,030,000$1,030,000$1,030,000$1,030,000
65$1,140,163$1,085,573$1,069,608$1,213,553
66$1,229,563$1,111,869$1,078,543$1,289,428
67$1,327,234$1,138,607$1,086,930$1,368,973
68$1,433,994$1,165,781$1,094,725$1,455,379
69$1,550,742$1,193,385$1,101,879$1,549,322
70$1,678,469$1,221,411$1,108,342$1,651,544
71$1,818,265$1,249,852$1,114,064$1,762,864
72$1,971,330$1,278,697$1,118,987$1,884,183
73$2,138,987$1,307,935$1,123,055$2,016,495
74$2,322,693$1,337,553$1,126,206$2,160,893
75$2,524,051$1,367,537$1,128,378$2,318,584
76$2,744,828$1,397,869$1,129,501$2,490,897
77$2,986,968$1,428,533$1,129,508$2,679,294
78$3,252,615$1,459,507$1,128,322$2,885,389
79$3,544,129$1,490,770$1,125,868$3,110,958
80$3,864,109$1,522,297$1,122,064$3,357,961
81$4,215,419$1,554,061$1,116,824$3,628,556
82$4,601,214$1,586,031$1,110,060$3,925,120
83$5,024,968$1,618,177$1,101,677$4,250,273
84$5,490,510$1,650,463$1,091,578$4,606,905
85$6,002,056$1,682,850$1,079,660$4,998,196
86$6,564,253$1,715,297$1,065,816$5,427,655
87$7,182,218$1,747,758$1,049,932$5,899,146
88$7,861,591$1,780,184$1,031,892$6,416,928
89$8,608,583$1,812,524$1,011,570$6,985,695
90$9,430,040$1,844,719$988,839$7,610,619
91$10,333,502$1,876,708$963,563$8,297,401
92$11,327,278$1,908,425$935,601$9,052,324
93$12,420,520$1,939,798$904,804$9,882,310
94$13,623,317$1,970,751$871,018$10,794,990
95$14,946,779$2,001,202$834,081$11,798,773
96$16,403,152$2,031,062$793,824$12,902,925
97$18,005,926$2,060,238$750,071$14,117,660
98$19,769,968$2,088,627$702,635$15,454,232
99$21,711,656$2,116,121$651,325$16,925,047
100$23,849,039$2,142,604$595,938$18,543,773