Can I retire at age 66 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$125,520$124,402$123,311$122,247$121,207$118,760
2 years$62,139$60,981$59,860$58,772$57,718$55,263
3 years$41,014$39,852$38,733$37,656$36,618$34,233
4 years$30,454$29,295$28,188$27,129$26,117$23,818
5 years$24,120$22,968$21,875$20,838$19,853$17,649
6 years$19,898$18,755$17,678$16,664$15,709$13,601
7 years$16,884$15,751$14,691$13,700$12,776$10,764
8 years$14,624$13,501$12,459$11,493$10,599$8,683
9 years$12,868$11,755$10,731$9,789$8,926$7,105
10 years$11,463$10,362$9,355$8,439$7,605$5,878
11 years$10,315$9,224$8,236$7,344$6,541$4,904
12 years$9,359$8,279$7,310$6,442$5,668$4,120
13 years$8,550$7,482$6,531$5,687$4,943$3,481
14 years$7,858$6,801$5,868$5,048$4,333$2,954
15 years$7,258$6,213$5,298$4,502$3,815$2,517
16 years$6,734$5,700$4,803$4,031$3,372$2,151
17 years$6,272$5,250$4,371$3,622$2,989$1,843
18 years$5,862$4,851$3,990$3,264$2,658$1,582
19 years$5,495$4,496$3,653$2,950$2,369$1,361
20 years$5,166$4,178$3,352$2,671$2,116$1,173
21 years$4,868$3,891$3,083$2,424$1,894$1,012
22 years$4,598$3,632$2,842$2,204$1,698$875
23 years$4,352$3,397$2,624$2,008$1,524$756
24 years$4,126$3,183$2,427$1,831$1,370$655
25 years$3,919$2,987$2,248$1,672$1,232$567
26 years$3,728$2,807$2,084$1,529$1,110$491
27 years$3,551$2,642$1,936$1,399$1,001$426
28 years$3,388$2,490$1,799$1,282$903$370
29 years$3,236$2,349$1,675$1,176$815$321
30 years$3,094$2,218$1,560$1,079$737$279
31 years$2,962$2,097$1,454$991$666$242
32 years$2,838$1,984$1,357$911$603$210
33 years$2,722$1,879$1,267$838$545$183
34 years$2,613$1,781$1,184$771$494$159
35 years$2,511$1,689$1,107$709$447$138
36 years$2,414$1,603$1,035$653$405$120
37 years$2,323$1,523$969$602$367$104
38 years$2,237$1,447$907$555$333$91
39 years$2,155$1,376$850$512$302$79
40 years$2,078$1,309$797$472$274$69
41 years$2,005$1,246$747$435$248$60
42 years$1,935$1,187$701$402$225$52
43 years$1,869$1,131$658$371$205$45
44 years$1,806$1,078$617$342$186$39
45 years$1,746$1,028$580$316$169$34
46 years$1,689$981$544$292$153$30
47 years$1,634$936$511$270$139$26
48 years$1,582$893$481$249$126$23
49 years$1,532$853$452$231$115$20
50 years$1,484$815$425$213$104$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,520,000, adding $4,538 every year, while hoping to spend $22,381 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: 72/21/7 Blend
65$1,520,000$1,520,000$1,520,000$1,520,000
66$1,679,721$1,599,161$1,575,601$1,798,621
67$1,827,239$1,653,707$1,604,570$1,932,232
68$1,989,054$1,710,175$1,633,760$2,075,238
69$2,166,601$1,768,636$1,663,154$2,231,182
70$2,361,459$1,829,164$1,692,735$2,401,333
71$2,575,369$1,891,835$1,722,483$2,587,087
72$2,810,249$1,956,727$1,752,378$2,789,981
73$3,068,211$2,023,923$1,782,399$3,011,708
74$3,351,582$2,093,508$1,812,523$3,254,132
75$3,662,924$2,165,571$1,842,723$3,519,303
76$4,005,062$2,240,204$1,872,974$3,809,481
77$4,381,106$2,317,502$1,903,246$4,127,152
78$4,794,484$2,397,564$1,933,510$4,475,057
79$5,248,971$2,480,495$1,963,733$4,856,212
80$5,748,727$2,566,401$1,993,879$5,273,938
81$6,298,337$2,655,393$2,023,913$5,731,893
82$6,902,848$2,747,589$2,053,795$6,234,108
83$7,567,825$2,843,107$2,083,484$6,785,020
84$8,299,398$2,942,074$2,112,935$7,389,517
85$9,104,320$3,044,619$2,142,102$8,052,983
86$9,990,033$3,150,878$2,170,935$8,781,350
87$10,964,737$3,260,992$2,199,382$9,581,151
88$12,037,466$3,375,106$2,227,387$10,459,581
89$13,218,175$3,493,373$2,254,892$11,424,569
90$14,517,832$3,615,952$2,281,833$12,484,849
91$15,948,523$3,743,005$2,308,147$13,650,040
92$17,523,565$3,874,706$2,333,763$14,930,743
93$19,257,633$4,011,230$2,358,608$16,338,635
94$21,166,896$4,152,765$2,382,606$17,886,579
95$23,269,170$4,299,502$2,405,674$19,588,751
96$25,584,089$4,451,641$2,427,728$21,460,764
97$28,133,286$4,609,391$2,448,677$23,519,824
98$30,940,599$4,772,969$2,468,425$25,784,885
99$34,032,296$4,942,600$2,486,873$28,276,833
100$37,437,322$5,118,520$2,503,916$31,018,678