Can I retire at age 66 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$89,185$88,391$87,616$86,859$86,121$85,221
2 years$44,151$43,329$42,532$41,759$41,010$40,104
3 years$29,142$28,316$27,521$26,756$26,018$25,134
4 years$21,638$20,815$20,028$19,276$18,557$17,701
5 years$17,138$16,319$15,543$14,806$14,106$13,282
6 years$14,138$13,326$12,561$11,840$11,162$10,370
7 years$11,997$11,191$10,438$9,735$9,078$8,318
8 years$10,391$9,593$8,852$8,166$7,531$6,803
9 years$9,143$8,352$7,625$6,956$6,342$5,647
10 years$8,145$7,362$6,647$5,996$5,404$4,740
11 years$7,329$6,554$5,852$5,218$4,647$4,015
12 years$6,650$5,883$5,194$4,577$4,027$3,425
13 years$6,075$5,316$4,640$4,041$3,512$2,940
14 years$5,583$4,832$4,169$3,587$3,078$2,535
15 years$5,157$4,414$3,764$3,199$2,711$2,196
16 years$4,785$4,050$3,413$2,864$2,396$1,908
17 years$4,457$3,730$3,106$2,574$2,124$1,663
18 years$4,165$3,447$2,835$2,319$1,889$1,453
19 years$3,905$3,194$2,595$2,096$1,683$1,272
20 years$3,671$2,968$2,382$1,898$1,504$1,116
21 years$3,459$2,765$2,191$1,723$1,346$981
22 years$3,267$2,581$2,019$1,566$1,206$863
23 years$3,092$2,414$1,864$1,426$1,083$760
24 years$2,932$2,262$1,724$1,301$973$670
25 years$2,784$2,122$1,597$1,188$876$592
26 years$2,649$1,995$1,481$1,086$789$523
27 years$2,523$1,877$1,375$994$711$462
28 years$2,407$1,769$1,279$911$642$409
29 years$2,299$1,669$1,190$835$579$362
30 years$2,198$1,576$1,108$767$524$320
31 years$2,104$1,490$1,033$704$473$284
32 years$2,017$1,410$964$647$428$252
33 years$1,934$1,335$900$595$387$223
34 years$1,857$1,265$841$548$351$198
35 years$1,784$1,200$786$504$318$175
36 years$1,715$1,139$736$464$288$156
37 years$1,651$1,082$688$428$261$138
38 years$1,589$1,028$645$394$237$123
39 years$1,531$978$604$364$215$109
40 years$1,477$930$566$335$195$97
41 years$1,424$885$531$309$177$86
42 years$1,375$843$498$285$160$76
43 years$1,328$803$467$264$145$68
44 years$1,283$766$439$243$132$60
45 years$1,241$730$412$225$120$53
46 years$1,200$697$387$208$109$47
47 years$1,161$665$363$192$99$42
48 years$1,124$635$341$177$90$37
49 years$1,088$606$321$164$81$33
50 years$1,054$579$302$151$74$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,080,000, adding $2,111 every year, while hoping to spend $24,345 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: 42/34/24 Blend
65$1,080,000$1,080,000$1,080,000$1,080,000
66$1,192,337$1,135,097$1,118,357$1,233,956
67$1,288,053$1,164,814$1,129,920$1,293,620
68$1,392,716$1,195,171$1,141,053$1,355,706
69$1,507,212$1,226,174$1,151,718$1,422,459
70$1,632,519$1,257,828$1,161,872$1,494,323
71$1,769,712$1,290,138$1,171,470$1,571,786
72$1,919,975$1,323,107$1,180,467$1,655,386
73$2,084,611$1,356,738$1,188,812$1,745,716
74$2,265,058$1,391,035$1,196,453$1,843,428
75$2,462,897$1,425,998$1,203,337$1,949,242
76$2,679,870$1,461,629$1,209,406$2,063,949
77$2,917,895$1,497,928$1,214,600$2,188,424
78$3,179,086$1,534,892$1,218,855$2,323,628
79$3,465,771$1,572,520$1,222,104$2,470,621
80$3,780,513$1,610,807$1,224,279$2,630,572
81$4,126,139$1,649,750$1,225,306$2,804,767
82$4,505,759$1,689,341$1,225,107$2,994,627
83$4,922,800$1,729,573$1,223,602$3,201,714
84$5,381,040$1,770,436$1,220,707$3,427,753
85$5,884,638$1,811,919$1,216,332$3,674,641
86$6,438,176$1,854,009$1,210,385$3,944,474
87$7,046,705$1,896,691$1,202,768$4,239,558
88$7,715,787$1,939,946$1,193,378$4,562,437
89$8,451,550$1,983,756$1,182,109$4,915,913
90$9,260,746$2,028,098$1,168,848$5,303,077
91$10,150,816$2,072,948$1,153,478$5,727,333
92$11,129,954$2,118,279$1,135,875$6,192,435
93$12,207,194$2,164,058$1,115,911$6,702,519
94$13,392,484$2,210,253$1,093,450$7,262,147
95$14,696,789$2,256,827$1,068,352$7,876,345
96$16,132,188$2,303,739$1,040,469$8,550,652
97$17,711,992$2,350,943$1,009,646$9,291,174
98$19,450,868$2,398,392$975,721$10,104,644
99$21,364,975$2,446,031$938,526$10,998,478
100$23,472,119$2,493,804$897,883$11,980,855