Can I retire at age 66 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%12%
1 years$85,056$84,299$83,560$82,838$82,134$81,445
2 years$42,107$41,323$40,563$39,826$39,111$38,418
3 years$27,793$27,005$26,247$25,517$24,814$24,136
4 years$20,637$19,852$19,101$18,384$17,697$17,041
5 years$16,344$15,564$14,823$14,120$13,453$12,820
6 years$13,484$12,709$11,979$11,292$10,645$10,036
7 years$11,441$10,673$9,955$9,284$8,657$8,073
8 years$9,910$9,149$8,443$7,788$7,182$6,622
9 years$8,720$7,966$7,272$6,634$6,048$5,512
10 years$7,768$7,021$6,339$5,718$5,154$4,641
11 years$6,990$6,251$5,581$4,977$4,432$3,943
12 years$6,342$5,610$4,953$4,365$3,841$3,375
13 years$5,794$5,070$4,425$3,854$3,349$2,906
14 years$5,325$4,609$3,976$3,421$2,936$2,514
15 years$4,918$4,210$3,590$3,051$2,585$2,185
16 years$4,563$3,863$3,255$2,732$2,285$1,905
17 years$4,250$3,557$2,962$2,454$2,026$1,666
18 years$3,972$3,287$2,704$2,212$1,801$1,461
19 years$3,724$3,046$2,475$1,999$1,605$1,284
20 years$3,501$2,831$2,272$1,810$1,434$1,130
21 years$3,299$2,637$2,089$1,643$1,283$997
22 years$3,116$2,461$1,926$1,494$1,150$880
23 years$2,949$2,302$1,778$1,360$1,033$779
24 years$2,796$2,157$1,644$1,241$928$689
25 years$2,655$2,024$1,523$1,133$835$611
26 years$2,526$1,902$1,413$1,036$752$542
27 years$2,407$1,790$1,312$948$678$481
28 years$2,296$1,687$1,219$869$612$427
29 years$2,193$1,592$1,135$797$553$380
30 years$2,097$1,503$1,057$731$499$337
31 years$2,007$1,421$985$672$451$300
32 years$1,923$1,344$919$617$408$267
33 years$1,845$1,273$858$568$370$238
34 years$1,771$1,207$802$522$335$212
35 years$1,701$1,145$750$481$303$189
36 years$1,636$1,086$701$443$275$168
37 years$1,574$1,032$657$408$249$150
38 years$1,516$981$615$376$226$134
39 years$1,461$932$576$347$205$119
40 years$1,408$887$540$320$186$106
41 years$1,359$844$506$295$168$95
42 years$1,311$804$475$272$153$84
43 years$1,266$766$446$251$139$75
44 years$1,224$730$418$232$126$67
45 years$1,183$697$393$214$114$60
46 years$1,144$664$369$198$104$54
47 years$1,107$634$347$183$94$48
48 years$1,072$605$326$169$86$43
49 years$1,038$578$306$156$78$38
50 years$1,006$552$288$144$71$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,030,000, adding $6,765 every year, while hoping to spend $26,658 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: 49/45/6 Blend
65$1,030,000$1,030,000$1,030,000$1,030,000
66$1,142,038$1,087,448$1,071,483$1,195,934
67$1,230,162$1,112,369$1,079,014$1,258,366
68$1,326,381$1,137,618$1,085,903$1,322,735
69$1,431,493$1,163,182$1,092,102$1,392,014
70$1,546,376$1,189,048$1,097,558$1,466,667
71$1,671,996$1,215,202$1,102,216$1,547,206
72$1,809,418$1,241,625$1,106,019$1,634,195
73$1,959,814$1,268,299$1,108,905$1,728,254
74$2,124,473$1,295,205$1,110,812$1,830,065
75$2,304,818$1,322,319$1,111,673$1,940,383
76$2,502,413$1,349,616$1,111,418$2,060,035
77$2,718,982$1,377,070$1,109,973$2,189,935
78$2,956,422$1,404,650$1,107,261$2,331,089
79$3,216,825$1,432,326$1,103,202$2,484,607
80$3,502,492$1,460,061$1,097,710$2,651,709
81$3,815,960$1,487,818$1,090,698$2,833,743
82$4,160,023$1,515,555$1,082,071$3,032,190
83$4,537,758$1,543,230$1,071,732$3,248,687
84$4,952,553$1,570,792$1,059,580$3,485,035
85$5,408,145$1,598,192$1,045,506$3,743,218
86$5,908,645$1,625,373$1,029,400$4,025,426
87$6,458,585$1,652,275$1,011,144$4,334,069
88$7,062,958$1,678,834$990,615$4,671,805
89$7,727,263$1,704,980$967,684$5,041,565
90$8,457,560$1,730,640$942,217$5,446,575
91$9,260,524$1,755,734$914,074$5,890,395
92$10,143,510$1,780,177$883,108$6,376,946
93$11,114,619$1,803,878$849,164$6,910,553
94$12,182,781$1,826,738$812,081$7,495,979
95$13,357,832$1,848,655$771,693$8,138,477
96$14,650,608$1,869,517$727,822$8,843,835
97$16,073,051$1,889,204$680,285$9,618,434
98$17,638,318$1,907,591$628,890$10,469,307
99$19,360,905$1,924,541$573,437$11,404,206
100$21,256,786$1,939,912$513,715$12,431,674