Can I retire at age 66 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$99,921$99,031$98,162$97,315$96,487$94,655
2 years$49,466$48,544$47,652$46,786$45,946$44,108
3 years$32,650$31,724$30,834$29,976$29,150$27,362
4 years$24,243$23,321$22,439$21,596$20,790$19,067
5 years$19,201$18,284$17,414$16,588$15,804$14,150
6 years$15,840$14,930$14,073$13,265$12,505$10,923
7 years$13,441$12,538$11,695$10,906$10,170$8,659
8 years$11,642$10,748$9,918$9,149$8,437$6,998
9 years$10,243$9,358$8,542$7,793$7,105$5,736
10 years$9,125$8,248$7,447$6,718$6,054$4,754
11 years$8,211$7,343$6,557$5,846$5,207$3,974
12 years$7,450$6,591$5,819$5,128$4,512$3,345
13 years$6,806$5,956$5,199$4,527$3,935$2,832
14 years$6,255$5,414$4,671$4,019$3,449$2,408
15 years$5,778$4,946$4,217$3,584$3,037$2,056
16 years$5,361$4,538$3,824$3,209$2,684$1,760
17 years$4,993$4,179$3,479$2,883$2,380$1,512
18 years$4,667$3,862$3,176$2,599$2,116$1,301
19 years$4,375$3,579$2,908$2,348$1,886$1,122
20 years$4,112$3,326$2,668$2,127$1,685$969
21 years$3,875$3,098$2,455$1,930$1,508$838
22 years$3,660$2,892$2,262$1,755$1,351$726
23 years$3,464$2,704$2,089$1,598$1,213$629
24 years$3,285$2,534$1,932$1,458$1,090$546
25 years$3,120$2,378$1,789$1,331$981$474
26 years$2,968$2,235$1,659$1,217$884$412
27 years$2,827$2,103$1,541$1,114$797$358
28 years$2,697$1,982$1,432$1,021$719$311
29 years$2,576$1,870$1,333$936$649$271
30 years$2,463$1,766$1,242$859$587$236
31 years$2,358$1,669$1,158$789$530$205
32 years$2,259$1,579$1,080$725$480$179
33 years$2,167$1,496$1,008$667$434$156
34 years$2,080$1,418$942$613$393$136
35 years$1,999$1,345$881$565$356$118
36 years$1,922$1,276$824$520$323$103
37 years$1,849$1,212$771$479$292$90
38 years$1,781$1,152$722$442$265$78
39 years$1,716$1,095$677$407$240$68
40 years$1,654$1,042$634$376$218$60
41 years$1,596$992$595$347$198$52
42 years$1,541$945$558$320$179$45
43 years$1,488$900$524$295$163$40
44 years$1,438$858$491$273$148$34
45 years$1,390$818$461$252$134$30
46 years$1,344$781$433$233$122$26
47 years$1,301$745$407$215$111$23
48 years$1,259$711$383$199$100$20
49 years$1,219$679$360$183$91$17
50 years$1,181$649$338$170$83$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,210,000, adding $5,704 every year, while hoping to spend $57,478 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: 35/36/29 Blend
65$1,210,000$1,210,000$1,210,000$1,210,000
66$1,339,304$1,275,174$1,256,419$1,374,323
67$1,414,757$1,276,501$1,237,353$1,402,439
68$1,495,979$1,275,967$1,215,721$1,427,203
69$1,583,499$1,273,420$1,191,378$1,452,827
70$1,677,897$1,268,698$1,164,170$1,479,427
71$1,779,809$1,261,631$1,133,936$1,507,138
72$1,889,935$1,252,036$1,100,509$1,536,109
73$2,009,044$1,239,722$1,063,712$1,566,512
74$2,137,982$1,224,484$1,023,361$1,598,542
75$2,277,678$1,206,105$979,266$1,632,417
76$2,429,155$1,184,358$931,225$1,668,386
77$2,593,535$1,158,998$879,027$1,706,726
78$2,772,055$1,129,768$822,454$1,747,753
79$2,966,074$1,096,397$761,276$1,791,819
80$3,177,089$1,058,595$695,254$1,839,320
81$3,406,744$1,016,058$624,137$1,890,701
82$3,656,850$968,463$547,663$1,946,461
83$3,929,399$915,468$465,561$2,007,156
84$4,226,584$856,712$377,543$2,073,411
85$4,550,818$791,814$283,313$2,145,923
86$4,904,757$720,368$182,560$2,225,472
87$5,291,326$641,950$74,959$2,312,927
88$5,713,742$556,106$0$2,409,257
89$6,175,550$462,362$0$2,527,881
90$6,680,651$360,212$0$2,683,221
91$7,233,341$249,126$0$2,853,513
92$7,838,350$128,542$0$3,040,368
93$8,500,887$0$0$3,245,570
94$9,226,688$0$0$3,471,940
95$10,022,070$0$0$3,775,985
96$10,893,991$0$0$4,109,464
97$11,850,112$0$0$4,475,331
98$12,898,872$0$0$4,876,837
99$14,049,568$0$0$5,317,566
100$15,312,438$0$0$5,801,462