Can I retire at age 66 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%15%
1 years$84,231$83,480$82,748$82,034$81,336$79,661
2 years$41,698$40,922$40,169$39,439$38,732$37,052
3 years$27,523$26,743$25,992$25,269$24,573$22,941
4 years$20,436$19,659$18,916$18,205$17,526$15,953
5 years$16,186$15,413$14,679$13,983$13,323$11,815
6 years$13,353$12,586$11,863$11,182$10,542$9,100
7 years$11,330$10,569$9,858$9,194$8,573$7,198
8 years$9,814$9,060$8,361$7,712$7,112$5,803
9 years$8,635$7,888$7,201$6,569$5,990$4,746
10 years$7,692$6,953$6,278$5,663$5,103$3,923
11 years$6,922$6,190$5,527$4,928$4,389$3,272
12 years$6,280$5,556$4,905$4,323$3,804$2,747
13 years$5,738$5,021$4,382$3,816$3,317$2,319
14 years$5,273$4,564$3,938$3,388$2,907$1,967
15 years$4,871$4,169$3,555$3,021$2,560$1,674
16 years$4,519$3,825$3,223$2,705$2,262$1,430
17 years$4,209$3,523$2,933$2,431$2,006$1,224
18 years$3,934$3,255$2,677$2,190$1,784$1,050
19 years$3,688$3,017$2,451$1,979$1,590$903
20 years$3,467$2,803$2,249$1,793$1,420$778
21 years$3,267$2,611$2,069$1,627$1,271$670
22 years$3,085$2,438$1,907$1,479$1,139$579
23 years$2,920$2,280$1,761$1,347$1,023$500
24 years$2,769$2,136$1,628$1,229$919$433
25 years$2,630$2,005$1,508$1,122$827$374
26 years$2,502$1,884$1,399$1,026$745$324
27 years$2,383$1,773$1,299$939$672$281
28 years$2,273$1,671$1,208$860$606$244
29 years$2,171$1,576$1,124$789$547$211
30 years$2,076$1,488$1,047$724$494$183
31 years$1,988$1,407$976$665$447$159
32 years$1,905$1,331$910$611$404$138
33 years$1,827$1,261$850$562$366$120
34 years$1,754$1,195$794$517$331$104
35 years$1,685$1,133$743$476$300$90
36 years$1,620$1,076$695$438$272$79
37 years$1,559$1,022$650$404$246$68
38 years$1,501$971$609$372$223$59
39 years$1,446$923$570$343$203$52
40 years$1,395$879$535$317$184$45
41 years$1,345$836$501$292$167$39
42 years$1,299$796$470$270$151$34
43 years$1,254$759$441$249$137$29
44 years$1,212$723$414$230$125$26
45 years$1,172$690$389$212$113$22
46 years$1,133$658$365$196$103$19
47 years$1,097$628$343$181$93$17
48 years$1,061$599$323$167$85$15
49 years$1,028$572$303$155$77$13
50 years$996$547$285$143$70$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,020,000, adding $3,445 every year, while hoping to spend $45,376 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: 77/8/15 Blend
65$1,020,000$1,020,000$1,020,000$1,020,000
66$1,127,594$1,073,534$1,057,724$1,210,562
67$1,194,328$1,077,857$1,044,878$1,270,095
68$1,266,349$1,080,871$1,030,080$1,329,300
69$1,344,148$1,082,465$1,013,219$1,392,972
70$1,428,263$1,082,518$994,174$1,461,541
71$1,519,290$1,080,905$972,823$1,535,481
72$1,617,879$1,077,491$949,034$1,615,315
73$1,724,749$1,072,134$922,673$1,701,617
74$1,840,687$1,064,683$893,596$1,795,023
75$1,966,562$1,054,977$861,656$1,896,232
76$2,103,327$1,042,846$826,697$2,006,015
77$2,252,031$1,028,111$788,557$2,125,223
78$2,413,829$1,010,579$747,064$2,254,793
79$2,589,992$990,050$702,043$2,395,759
80$2,781,917$966,308$653,307$2,549,260
81$2,991,142$939,127$600,662$2,716,553
82$3,219,360$908,266$543,906$2,899,022
83$3,468,435$873,471$482,827$3,098,195
84$3,740,417$834,473$417,204$3,315,756
85$4,037,565$790,988$346,806$3,553,561
86$4,362,365$742,714$271,392$3,813,656
87$4,717,552$689,333$190,710$4,098,299
88$5,106,141$630,509$104,497$4,409,978
89$5,531,449$565,885$12,479$4,751,436
90$5,997,129$495,086$0$5,125,697
91$6,507,206$417,714$0$5,549,815
92$7,066,108$333,350$0$6,016,770
93$7,678,716$241,549$0$6,528,666
94$8,350,405$141,845$0$7,090,023
95$9,087,092$33,741$0$7,705,821
96$9,895,296$0$0$8,381,550
97$10,782,200$0$0$9,130,586
98$11,755,711$0$0$9,956,066
99$12,824,543$0$0$10,862,410
100$13,998,292$0$0$11,857,762