Can I retire at age 65 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$160,203$158,776$157,384$156,025$154,698$153,659
2 years$79,309$77,832$76,400$75,012$73,666$72,618
3 years$52,347$50,864$49,436$48,061$46,737$45,712
4 years$38,869$37,390$35,977$34,625$33,333$32,340
5 years$30,784$29,314$27,919$26,596$25,339$24,380
6 years$25,396$23,937$22,563$21,269$20,050$19,127
7 years$21,549$20,103$18,750$17,486$16,306$15,419
8 years$18,665$17,232$15,901$14,669$13,527$12,677
9 years$16,423$15,003$13,696$12,494$11,392$10,577
10 years$14,631$13,225$11,940$10,770$9,707$8,927
11 years$13,165$11,773$10,512$9,373$8,348$7,603
12 years$11,945$10,567$9,329$8,222$7,234$6,524
13 years$10,913$9,549$8,335$7,259$6,308$5,631
14 years$10,029$8,680$7,489$6,443$5,530$4,886
15 years$9,264$7,929$6,762$5,746$4,869$4,257
16 years$8,595$7,275$6,130$5,145$4,303$3,722
17 years$8,005$6,700$5,578$4,623$3,816$3,264
18 years$7,482$6,191$5,092$4,166$3,393$2,870
19 years$7,014$5,738$4,662$3,765$3,024$2,529
20 years$6,593$5,332$4,278$3,409$2,701$2,234
21 years$6,213$4,967$3,935$3,094$2,417$1,976
22 years$5,868$4,636$3,627$2,813$2,167$1,750
23 years$5,554$4,336$3,349$2,562$1,945$1,552
24 years$5,266$4,063$3,097$2,337$1,748$1,379
25 years$5,002$3,813$2,869$2,134$1,573$1,225
26 years$4,758$3,583$2,660$1,951$1,417$1,090
27 years$4,533$3,372$2,470$1,786$1,277$971
28 years$4,324$3,178$2,297$1,637$1,153$865
29 years$4,130$2,998$2,137$1,501$1,041$771
30 years$3,949$2,831$1,991$1,377$940$688
31 years$3,780$2,676$1,856$1,265$850$614
32 years$3,622$2,532$1,732$1,163$769$548
33 years$3,474$2,398$1,617$1,069$696$490
34 years$3,335$2,273$1,511$984$630$437
35 years$3,204$2,156$1,412$905$571$391
36 years$3,081$2,046$1,321$834$517$350
37 years$2,965$1,943$1,237$768$469$313
38 years$2,855$1,847$1,158$708$425$280
39 years$2,751$1,756$1,085$653$385$250
40 years$2,652$1,671$1,017$602$350$224
41 years$2,559$1,591$954$556$317$200
42 years$2,470$1,515$894$513$288$179
43 years$2,385$1,443$839$473$261$160
44 years$2,305$1,376$788$437$237$144
45 years$2,228$1,312$740$404$215$129
46 years$2,155$1,251$695$373$195$115
47 years$2,086$1,194$653$345$177$103
48 years$2,019$1,140$613$318$161$92
49 years$1,955$1,089$577$294$146$83
50 years$1,894$1,040$542$272$133$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $1,940,000, adding $6,955 every year, while hoping to spend $49,488 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: 70/24/6 Blend
64$1,940,000$1,940,000$1,940,000$1,940,000
65$2,145,054$2,042,234$2,012,164$2,293,011
66$2,311,195$2,089,649$2,026,917$2,439,119
67$2,492,623$2,137,728$2,040,505$2,592,161
68$2,690,846$2,186,452$2,052,838$2,758,248
69$2,907,524$2,235,799$2,063,818$2,938,648
70$3,144,481$2,285,744$2,073,347$3,134,757
71$3,403,731$2,336,258$2,081,317$3,348,114
72$3,687,488$2,387,311$2,087,617$3,580,413
73$3,998,190$2,438,867$2,092,130$3,833,518
74$4,338,523$2,490,889$2,094,734$4,109,485
75$4,711,444$2,543,334$2,095,299$4,410,575
76$5,120,210$2,596,157$2,093,691$4,739,283
77$5,568,408$2,649,306$2,089,767$5,098,354
78$6,059,990$2,702,726$2,083,378$5,490,812
79$6,599,307$2,756,357$2,074,369$5,919,989
80$7,191,152$2,810,134$2,062,576$6,389,557
81$7,840,805$2,863,986$2,047,827$6,903,561
82$8,554,081$2,917,835$2,029,943$7,466,455
83$9,337,386$2,971,599$2,008,736$8,083,149
84$10,197,779$3,025,187$1,984,008$8,759,054
85$11,143,034$3,078,502$1,955,553$9,500,128
86$12,181,714$3,131,439$1,923,155$10,312,939
87$13,323,256$3,183,886$1,886,588$11,204,724
88$14,578,053$3,235,722$1,845,614$12,183,455
89$15,957,559$3,286,817$1,799,986$13,257,919
90$17,474,389$3,337,030$1,749,445$14,437,797
91$19,142,444$3,386,212$1,693,719$15,733,759
92$20,977,039$3,434,202$1,632,524$17,157,560
93$22,995,049$3,480,830$1,565,565$18,722,156
94$25,215,063$3,525,910$1,492,531$20,441,822
95$27,657,566$3,569,246$1,413,097$22,332,290
96$30,345,127$3,610,628$1,326,926$24,410,897
97$33,302,614$3,649,833$1,233,662$26,696,747
98$36,557,427$3,686,621$1,132,935$29,210,895
99$40,139,755$3,720,737$1,024,360$31,976,540
100$44,082,866$3,751,908$907,531$35,019,252