Can I retire at age 65 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$87,534$86,754$85,993$85,251$84,526$82,955
2 years$43,334$42,527$41,744$40,986$40,250$38,674
3 years$28,602$27,792$27,011$26,260$25,537$24,003
4 years$21,238$20,430$19,657$18,919$18,213$16,734
5 years$16,820$16,017$15,255$14,532$13,845$12,426
6 years$13,876$13,079$12,328$11,621$10,955$9,597
7 years$11,774$10,984$10,245$9,554$8,909$7,612
8 years$10,199$9,415$8,688$8,015$7,391$6,155
9 years$8,974$8,198$7,483$6,827$6,225$5,048
10 years$7,994$7,226$6,524$5,885$5,304$4,187
11 years$7,193$6,433$5,744$5,122$4,561$3,502
12 years$6,526$5,774$5,097$4,492$3,953$2,950
13 years$5,963$5,218$4,554$3,966$3,447$2,499
14 years$5,480$4,743$4,092$3,521$3,021$2,126
15 years$5,062$4,333$3,695$3,140$2,660$1,816
16 years$4,696$3,975$3,350$2,811$2,351$1,557
17 years$4,374$3,661$3,048$2,526$2,085$1,338
18 years$4,088$3,383$2,782$2,276$1,854$1,152
19 years$3,832$3,135$2,547$2,057$1,652$994
20 years$3,603$2,913$2,338$1,863$1,476$859
21 years$3,395$2,714$2,150$1,691$1,321$744
22 years$3,206$2,533$1,982$1,537$1,184$644
23 years$3,035$2,369$1,830$1,400$1,063$559
24 years$2,877$2,220$1,692$1,277$955$485
25 years$2,733$2,083$1,567$1,166$859$422
26 years$2,600$1,958$1,454$1,066$774$367
27 years$2,477$1,843$1,350$976$698$319
28 years$2,363$1,736$1,255$894$630$278
29 years$2,256$1,638$1,168$820$569$242
30 years$2,158$1,547$1,088$753$514$211
31 years$2,065$1,462$1,014$691$465$184
32 years$1,979$1,384$946$635$420$160
33 years$1,898$1,310$883$584$380$140
34 years$1,822$1,242$825$537$344$122
35 years$1,751$1,178$772$495$312$106
36 years$1,684$1,118$722$456$283$93
37 years$1,620$1,062$676$420$256$81
38 years$1,560$1,009$633$387$232$70
39 years$1,503$960$593$357$211$62
40 years$1,449$913$556$329$191$54
41 years$1,398$869$521$304$173$47
42 years$1,350$828$489$280$157$41
43 years$1,303$789$459$259$143$36
44 years$1,259$752$430$239$130$31
45 years$1,218$717$404$221$118$27
46 years$1,178$684$380$204$107$24
47 years$1,140$653$357$188$97$21
48 years$1,103$623$335$174$88$18
49 years$1,068$595$315$161$80$16
50 years$1,035$568$296$149$73$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,060,000, adding $6,507 every year, while hoping to spend $23,693 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: 76/14/10 Blend
64$1,060,000$1,060,000$1,060,000$1,060,000
65$1,174,832$1,118,652$1,102,222$1,261,556
66$1,269,456$1,148,257$1,113,937$1,349,165
67$1,372,937$1,178,518$1,125,251$1,441,515
68$1,486,154$1,209,443$1,136,124$1,542,074
69$1,610,075$1,241,039$1,146,517$1,651,648
70$1,745,763$1,273,311$1,156,387$1,771,126
71$1,894,393$1,306,265$1,165,688$1,901,487
72$2,057,257$1,339,907$1,174,374$2,043,808
73$2,235,775$1,374,241$1,182,394$2,199,276
74$2,431,516$1,409,271$1,189,696$2,369,198
75$2,646,205$1,444,999$1,196,224$2,555,016
76$2,881,742$1,481,428$1,201,922$2,758,314
77$3,140,221$1,518,560$1,206,728$2,980,840
78$3,423,948$1,556,394$1,210,578$3,224,519
79$3,735,464$1,594,930$1,213,405$3,491,472
80$4,077,565$1,634,165$1,215,138$3,784,034
81$4,453,335$1,674,097$1,215,704$4,104,780
82$4,866,169$1,714,722$1,215,023$4,456,543
83$5,319,807$1,756,033$1,213,016$4,842,448
84$5,818,372$1,798,022$1,209,596$5,265,937
85$6,366,402$1,840,682$1,204,674$5,730,801
86$6,968,900$1,884,000$1,198,155$6,241,219
87$7,631,376$1,927,964$1,189,942$6,801,793
88$8,359,901$1,972,560$1,179,930$7,417,596
89$9,161,165$2,017,769$1,168,012$8,094,216
90$10,042,537$2,063,573$1,154,073$8,837,811
91$11,012,138$2,109,950$1,137,997$9,655,167
92$12,078,914$2,156,876$1,119,657$10,553,761
93$13,252,722$2,204,322$1,098,925$11,541,830
94$14,544,425$2,252,258$1,075,664$12,628,453
95$15,965,988$2,300,651$1,049,731$13,823,634
96$17,530,599$2,349,463$1,020,977$15,138,395
97$19,252,787$2,398,653$989,246$16,584,883
98$21,148,561$2,448,177$954,376$18,176,483
99$23,235,562$2,497,985$916,195$19,927,945
100$25,533,227$2,548,024$874,525$21,855,521