Can I retire at age 65 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%15%
1 years$102,398$101,486$100,596$99,727$98,879$96,843
2 years$50,692$49,748$48,833$47,946$47,085$45,043
3 years$33,459$32,511$31,598$30,719$29,873$27,889
4 years$24,844$23,899$22,995$22,132$21,306$19,394
5 years$19,677$18,737$17,845$16,999$16,196$14,363
6 years$16,233$15,300$14,422$13,594$12,815$11,063
7 years$13,774$12,849$11,985$11,177$10,422$8,751
8 years$11,930$11,014$10,164$9,376$8,646$7,055
9 years$10,497$9,590$8,754$7,986$7,282$5,769
10 years$9,352$8,453$7,632$6,884$6,204$4,770
11 years$8,415$7,525$6,719$5,991$5,336$3,977
12 years$7,635$6,754$5,963$5,255$4,624$3,339
13 years$6,975$6,104$5,328$4,640$4,032$2,819
14 years$6,410$5,548$4,787$4,118$3,535$2,391
15 years$5,921$5,068$4,322$3,673$3,112$2,035
16 years$5,494$4,650$3,918$3,289$2,750$1,738
17 years$5,117$4,283$3,566$2,955$2,439$1,488
18 years$4,782$3,957$3,255$2,663$2,168$1,277
19 years$4,483$3,668$2,980$2,406$1,933$1,098
20 years$4,214$3,408$2,735$2,179$1,726$945
21 years$3,971$3,174$2,515$1,978$1,545$815
22 years$3,751$2,963$2,318$1,798$1,385$704
23 years$3,550$2,771$2,141$1,638$1,243$608
24 years$3,366$2,597$1,980$1,494$1,117$526
25 years$3,197$2,437$1,834$1,364$1,005$455
26 years$3,041$2,290$1,701$1,247$906$394
27 years$2,897$2,155$1,579$1,142$817$342
28 years$2,764$2,031$1,468$1,046$737$296
29 years$2,640$1,916$1,366$959$665$257
30 years$2,524$1,810$1,272$880$601$223
31 years$2,416$1,711$1,186$809$543$193
32 years$2,315$1,619$1,107$743$492$168
33 years$2,221$1,533$1,033$683$445$146
34 years$2,132$1,453$966$629$403$127
35 years$2,048$1,378$903$579$365$110
36 years$1,969$1,308$844$533$331$95
37 years$1,895$1,242$790$491$300$83
38 years$1,825$1,180$740$453$272$72
39 years$1,758$1,123$693$417$246$63
40 years$1,695$1,068$650$385$223$54
41 years$1,635$1,017$609$355$203$47
42 years$1,579$968$572$328$184$41
43 years$1,525$922$536$303$167$36
44 years$1,473$879$504$279$152$31
45 years$1,424$839$473$258$138$27
46 years$1,378$800$444$238$125$23
47 years$1,333$763$417$220$113$20
48 years$1,290$729$392$203$103$18
49 years$1,250$696$369$188$94$15
50 years$1,211$665$346$174$85$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,240,000, adding $4,227 every year, while hoping to spend $34,581 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: 49/24/27 Blend
64$1,240,000$1,240,000$1,240,000$1,240,000
65$1,370,840$1,305,120$1,285,900$1,427,319
66$1,473,872$1,332,277$1,292,184$1,494,457
67$1,586,254$1,359,606$1,297,519$1,563,592
68$1,708,903$1,387,078$1,301,838$1,638,027
69$1,842,830$1,414,663$1,305,068$1,718,278
70$1,989,145$1,442,328$1,307,134$1,804,917
71$2,149,072$1,470,036$1,307,957$1,898,572
72$2,323,958$1,497,749$1,307,454$1,999,940
73$2,515,287$1,525,424$1,305,539$2,109,785
74$2,724,691$1,553,014$1,302,119$2,228,953
75$2,953,969$1,580,471$1,297,100$2,358,376
76$3,205,101$1,607,741$1,290,380$2,499,081
77$3,480,268$1,634,768$1,281,854$2,652,202
78$3,781,871$1,661,488$1,271,413$2,818,991
79$4,112,557$1,687,836$1,258,940$3,000,827
80$4,475,239$1,713,740$1,244,315$3,199,231
81$4,873,124$1,739,124$1,227,411$3,415,881
82$5,309,748$1,763,907$1,208,094$3,652,630
83$5,789,005$1,788,001$1,186,228$3,911,517
84$6,315,182$1,811,311$1,161,665$4,194,796
85$6,893,003$1,833,738$1,134,253$4,504,948
86$7,527,673$1,855,175$1,103,834$4,844,714
87$8,224,924$1,875,507$1,070,241$5,217,113
88$8,991,071$1,894,612$1,033,300$5,625,476
89$9,833,073$1,912,360$992,827$6,073,477
90$10,758,594$1,928,613$948,634$6,565,167
91$11,776,077$1,943,222$900,521$7,105,013
92$12,894,828$1,956,031$848,279$7,697,941
93$14,125,095$1,966,871$791,691$8,349,383
94$15,478,172$1,975,565$730,530$9,065,329
95$16,966,501$1,981,923$664,558$9,852,384
96$18,603,790$1,985,743$593,527$10,717,830
97$20,405,144$1,986,812$517,177$11,669,697
98$22,387,205$1,984,902$435,239$12,716,840
99$24,568,309$1,979,772$347,429$13,869,019
100$26,968,661$1,971,164$253,452$15,136,998