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%12%
1 years$160,203$158,776$157,384$156,025$154,698$153,402
2 years$79,309$77,832$76,400$75,012$73,666$72,360
3 years$52,347$50,864$49,436$48,061$46,737$45,461
4 years$38,869$37,390$35,977$34,625$33,333$32,097
5 years$30,784$29,314$27,919$26,596$25,339$24,147
6 years$25,396$23,937$22,563$21,269$20,050$18,903
7 years$21,549$20,103$18,750$17,486$16,306$15,205
8 years$18,665$17,232$15,901$14,669$13,527$12,472
9 years$16,423$15,003$13,696$12,494$11,392$10,382
10 years$14,631$13,225$11,940$10,770$9,707$8,741
11 years$13,165$11,773$10,512$9,373$8,348$7,427
12 years$11,945$10,567$9,329$8,222$7,234$6,356
13 years$10,913$9,549$8,335$7,259$6,308$5,473
14 years$10,029$8,680$7,489$6,443$5,530$4,736
15 years$9,264$7,929$6,762$5,746$4,869$4,115
16 years$8,595$7,275$6,130$5,145$4,303$3,588
17 years$8,005$6,700$5,578$4,623$3,816$3,138
18 years$7,482$6,191$5,092$4,166$3,393$2,752
19 years$7,014$5,738$4,662$3,765$3,024$2,418
20 years$6,593$5,332$4,278$3,409$2,701$2,129
21 years$6,213$4,967$3,935$3,094$2,417$1,878
22 years$5,868$4,636$3,627$2,813$2,167$1,658
23 years$5,554$4,336$3,349$2,562$1,945$1,467
24 years$5,266$4,063$3,097$2,337$1,748$1,298
25 years$5,002$3,813$2,869$2,134$1,573$1,151
26 years$4,758$3,583$2,660$1,951$1,417$1,020
27 years$4,533$3,372$2,470$1,786$1,277$906
28 years$4,324$3,178$2,297$1,637$1,153$804
29 years$4,130$2,998$2,137$1,501$1,041$715
30 years$3,949$2,831$1,991$1,377$940$636
31 years$3,780$2,676$1,856$1,265$850$565
32 years$3,622$2,532$1,732$1,163$769$503
33 years$3,474$2,398$1,617$1,069$696$448
34 years$3,335$2,273$1,511$984$630$399
35 years$3,204$2,156$1,412$905$571$355
36 years$3,081$2,046$1,321$834$517$317
37 years$2,965$1,943$1,237$768$469$282
38 years$2,855$1,847$1,158$708$425$252
39 years$2,751$1,756$1,085$653$385$224
40 years$2,652$1,671$1,017$602$350$200
41 years$2,559$1,591$954$556$317$178
42 years$2,470$1,515$894$513$288$159
43 years$2,385$1,443$839$473$261$142
44 years$2,305$1,376$788$437$237$127
45 years$2,228$1,312$740$404$215$113
46 years$2,155$1,251$695$373$195$101
47 years$2,086$1,194$653$345$177$90
48 years$2,019$1,140$613$318$161$80
49 years$1,955$1,089$577$294$146$72
50 years$1,894$1,040$542$272$133$64

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 $6,134 every year, while hoping to spend $28,491 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: 69/14/17 Blend
64$1,940,000$1,940,000$1,940,000$1,940,000
65$2,144,207$2,041,387$2,011,317$2,283,064
66$2,332,602$2,111,101$2,048,382$2,446,105
67$2,539,258$2,183,276$2,085,734$2,620,484
68$2,766,009$2,258,002$2,123,352$2,810,565
69$3,014,872$2,335,374$2,161,214$3,017,895
70$3,288,070$2,415,490$2,199,297$3,244,173
71$3,588,054$2,498,449$2,237,574$3,491,274
72$3,917,522$2,584,359$2,276,019$3,761,258
73$4,279,445$2,673,329$2,314,601$4,056,397
74$4,677,097$2,765,471$2,353,289$4,379,191
75$5,114,087$2,860,904$2,392,050$4,732,396
76$5,594,386$2,959,752$2,430,846$5,119,045
77$6,122,375$3,062,140$2,469,641$5,542,477
78$6,702,875$3,168,203$2,508,391$6,006,374
79$7,341,200$3,278,077$2,547,055$6,514,788
80$8,043,206$3,391,906$2,585,585$7,072,184
81$8,815,342$3,509,839$2,623,931$7,683,480
82$9,664,716$3,632,030$2,662,041$8,354,093
83$10,599,157$3,758,640$2,699,860$9,089,992
84$11,627,294$3,889,835$2,737,327$9,897,751
85$12,758,631$4,025,791$2,774,381$10,784,613
86$14,003,644$4,166,687$2,810,955$11,758,556
87$15,373,872$4,312,711$2,846,979$12,828,372
88$16,882,032$4,464,059$2,882,378$14,003,745
89$18,542,135$4,620,934$2,917,074$15,295,345
90$20,369,620$4,783,547$2,950,983$16,714,929
91$22,381,499$4,952,118$2,984,018$18,275,448
92$24,596,515$5,126,875$3,016,086$19,991,173
93$27,035,325$5,308,057$3,047,090$21,877,828
94$29,720,687$5,495,911$3,076,926$23,952,737
95$32,677,680$5,690,694$3,105,487$26,234,988
96$35,933,939$5,892,673$3,132,656$28,745,614
97$39,519,916$6,102,129$3,158,315$31,507,788
98$43,469,165$6,319,351$3,182,336$34,547,046
99$47,818,660$6,544,640$3,204,585$37,891,525
100$52,609,148$6,778,311$3,224,923$41,572,226