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

Use the below retirement simulation to view the chances of a successful retirement.
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%12.5%
1 years$125,520$124,402$123,311$122,247$121,207$119,941
2 years$62,139$60,981$59,860$58,772$57,718$56,443
3 years$41,014$39,852$38,733$37,656$36,618$35,374
4 years$30,454$29,295$28,188$27,129$26,117$24,913
5 years$24,120$22,968$21,875$20,838$19,853$18,693
6 years$19,898$18,755$17,678$16,664$15,709$14,594
7 years$16,884$15,751$14,691$13,700$12,776$11,707
8 years$14,624$13,501$12,459$11,493$10,599$9,575
9 years$12,868$11,755$10,731$9,789$8,926$7,947
10 years$11,463$10,362$9,355$8,439$7,605$6,671
11 years$10,315$9,224$8,236$7,344$6,541$5,651
12 years$9,359$8,279$7,310$6,442$5,668$4,821
13 years$8,550$7,482$6,531$5,687$4,943$4,137
14 years$7,858$6,801$5,868$5,048$4,333$3,568
15 years$7,258$6,213$5,298$4,502$3,815$3,090
16 years$6,734$5,700$4,803$4,031$3,372$2,685
17 years$6,272$5,250$4,371$3,622$2,989$2,340
18 years$5,862$4,851$3,990$3,264$2,658$2,045
19 years$5,495$4,496$3,653$2,950$2,369$1,791
20 years$5,166$4,178$3,352$2,671$2,116$1,571
21 years$4,868$3,891$3,083$2,424$1,894$1,380
22 years$4,598$3,632$2,842$2,204$1,698$1,214
23 years$4,352$3,397$2,624$2,008$1,524$1,070
24 years$4,126$3,183$2,427$1,831$1,370$943
25 years$3,919$2,987$2,248$1,672$1,232$833
26 years$3,728$2,807$2,084$1,529$1,110$736
27 years$3,551$2,642$1,936$1,399$1,001$650
28 years$3,388$2,490$1,799$1,282$903$575
29 years$3,236$2,349$1,675$1,176$815$509
30 years$3,094$2,218$1,560$1,079$737$451
31 years$2,962$2,097$1,454$991$666$400
32 years$2,838$1,984$1,357$911$603$354
33 years$2,722$1,879$1,267$838$545$314
34 years$2,613$1,781$1,184$771$494$278
35 years$2,511$1,689$1,107$709$447$247
36 years$2,414$1,603$1,035$653$405$219
37 years$2,323$1,523$969$602$367$194
38 years$2,237$1,447$907$555$333$173
39 years$2,155$1,376$850$512$302$153
40 years$2,078$1,309$797$472$274$136
41 years$2,005$1,246$747$435$248$121
42 years$1,935$1,187$701$402$225$107
43 years$1,869$1,131$658$371$205$95
44 years$1,806$1,078$617$342$186$85
45 years$1,746$1,028$580$316$169$75
46 years$1,689$981$544$292$153$67
47 years$1,634$936$511$270$139$59
48 years$1,582$893$481$249$126$53
49 years$1,532$853$452$231$115$47
50 years$1,484$815$425$213$104$42

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 $5,990 every year, while hoping to spend $35,976 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: 31/42/27 Blend
65$1,520,000$1,520,000$1,520,000$1,520,000
66$1,681,219$1,600,659$1,577,099$1,719,259
67$1,814,425$1,640,813$1,591,653$1,789,240
68$1,960,012$1,681,729$1,605,490$1,860,937
69$2,119,206$1,723,406$1,618,546$1,937,403
70$2,293,354$1,765,842$1,630,757$2,019,078
71$2,483,942$1,809,034$1,642,053$2,106,449
72$2,692,605$1,852,978$1,652,363$2,200,054
73$2,921,144$1,897,667$1,661,610$2,300,483
74$3,171,542$1,943,093$1,669,715$2,408,388
75$3,445,981$1,989,247$1,676,593$2,524,488
76$3,746,869$2,036,118$1,682,156$2,649,574
77$4,076,852$2,083,691$1,686,311$2,784,520
78$4,438,850$2,131,950$1,688,962$2,930,289
79$4,836,076$2,180,879$1,690,005$3,087,941
80$5,272,070$2,230,456$1,689,334$3,258,647
81$5,750,730$2,280,657$1,686,835$3,443,698
82$6,276,352$2,331,457$1,682,392$3,644,517
83$6,853,668$2,382,826$1,675,880$3,862,672
84$7,487,889$2,434,732$1,667,169$4,099,894
85$8,184,758$2,487,138$1,656,124$4,358,091
86$8,950,601$2,540,005$1,642,601$4,639,365
87$9,792,385$2,593,289$1,626,452$4,946,038
88$10,717,790$2,646,942$1,607,519$5,280,668
89$11,735,274$2,700,911$1,585,640$5,646,075
90$12,854,155$2,755,139$1,560,643$6,045,369
91$14,084,701$2,809,563$1,532,347$6,481,982
92$15,438,226$2,864,116$1,500,565$6,959,695
93$16,927,191$2,918,724$1,465,100$7,482,678
94$18,565,330$2,973,308$1,425,747$8,055,532
95$20,367,774$3,027,780$1,382,289$8,683,326
96$22,351,193$3,082,048$1,334,503$9,371,652
97$24,533,958$3,136,011$1,282,151$10,126,676
98$26,936,307$3,189,561$1,224,988$10,955,196
99$29,580,542$3,242,581$1,162,757$11,864,707
100$32,491,236$3,294,946$1,095,189$12,863,474