Can I retire at age 66 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$128,823$127,676$126,556$125,464$124,397$119,983
2 years$63,774$62,586$61,435$60,319$59,236$54,837
3 years$42,094$40,901$39,753$38,647$37,582$33,335
4 years$31,256$30,066$28,930$27,843$26,804$22,741
5 years$24,754$23,572$22,451$21,386$20,376$16,509
6 years$20,422$19,249$18,143$17,103$16,123$12,454
7 years$17,328$16,165$15,077$14,061$13,112$9,641
8 years$15,009$13,856$12,787$11,795$10,878$7,601
9 years$13,206$12,064$11,013$10,047$9,161$6,074
10 years$11,765$10,634$9,602$8,661$7,805$4,904
11 years$10,586$9,467$8,453$7,537$6,713$3,991
12 years$9,605$8,497$7,502$6,611$5,817$3,268
13 years$8,775$7,679$6,702$5,837$5,073$2,689
14 years$8,065$6,980$6,022$5,181$4,447$2,221
15 years$7,449$6,376$5,437$4,621$3,915$1,841
16 years$6,911$5,850$4,930$4,137$3,460$1,530
17 years$6,437$5,388$4,486$3,717$3,068$1,274
18 years$6,016$4,979$4,095$3,350$2,728$1,063
19 years$5,640$4,614$3,749$3,027$2,432$888
20 years$5,302$4,288$3,440$2,742$2,172$743
21 years$4,996$3,994$3,164$2,488$1,944$622
22 years$4,719$3,728$2,917$2,262$1,742$521
23 years$4,466$3,487$2,693$2,060$1,564$437
24 years$4,235$3,267$2,491$1,879$1,406$367
25 years$4,022$3,066$2,307$1,716$1,265$308
26 years$3,826$2,881$2,139$1,569$1,139$259
27 years$3,645$2,712$1,987$1,436$1,027$217
28 years$3,477$2,555$1,847$1,316$927$183
29 years$3,321$2,411$1,719$1,207$837$154
30 years$3,175$2,276$1,601$1,108$756$129
31 years$3,040$2,152$1,492$1,017$684$109
32 years$2,913$2,036$1,392$935$618$91
33 years$2,794$1,928$1,300$860$560$77
34 years$2,682$1,828$1,215$791$507$65
35 years$2,577$1,733$1,136$728$459$54
36 years$2,478$1,645$1,062$671$416$46
37 years$2,384$1,563$994$618$377$39
38 years$2,296$1,485$931$569$342$32
39 years$2,212$1,412$872$525$310$27
40 years$2,133$1,344$818$484$281$23
41 years$2,058$1,279$767$447$255$19
42 years$1,986$1,218$719$412$231$16
43 years$1,918$1,161$675$381$210$14
44 years$1,854$1,106$634$351$191$12
45 years$1,792$1,055$595$325$173$10
46 years$1,733$1,006$559$300$157$8
47 years$1,677$960$525$277$143$7
48 years$1,623$917$493$256$130$6
49 years$1,572$875$464$237$118$5
50 years$1,523$836$436$219$107$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,560,000, adding $2,456 every year, while hoping to spend $53,243 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: 87/5/8 Blend
65$1,560,000$1,560,000$1,560,000$1,560,000
66$1,721,653$1,638,973$1,614,793$1,869,855
67$1,840,612$1,662,633$1,612,239$1,990,491
68$1,969,920$1,685,667$1,607,814$2,115,473
69$2,110,576$1,707,990$1,601,401$2,251,140
70$2,263,681$1,729,507$1,592,874$2,398,529
71$2,430,444$1,750,121$1,582,102$2,558,786
72$2,612,197$1,769,724$1,568,950$2,733,170
73$2,810,404$1,788,204$1,553,274$2,923,068
74$3,026,680$1,805,440$1,534,922$3,130,009
75$3,262,798$1,821,304$1,513,739$3,355,673
76$3,520,713$1,835,657$1,489,559$3,601,915
77$3,802,577$1,848,355$1,462,211$3,870,776
78$4,110,757$1,859,242$1,431,512$4,164,502
79$4,447,862$1,868,153$1,397,275$4,485,570
80$4,816,762$1,874,911$1,359,303$4,836,708
81$5,220,620$1,879,329$1,317,387$5,220,919
82$5,662,917$1,881,210$1,271,313$5,641,514
83$6,147,486$1,880,341$1,220,854$6,102,139
84$6,678,550$1,876,498$1,165,773$6,606,811
85$7,260,759$1,869,444$1,105,823$7,159,955
86$7,899,235$1,858,925$1,040,747$7,766,449
87$8,599,619$1,844,674$970,274$8,431,662
88$9,368,124$1,826,407$894,122$9,161,516
89$10,211,594$1,803,822$811,996$9,962,531
90$11,137,567$1,776,600$723,588$10,841,892
91$12,154,348$1,744,402$628,578$11,807,518
92$13,271,083$1,706,870$526,627$12,868,132
93$14,497,852$1,663,625$417,387$14,033,347
94$15,845,753$1,614,263$300,490$15,313,756
95$17,327,018$1,558,360$175,555$16,721,029
96$18,955,120$1,495,466$42,182$18,268,028
97$20,744,901$1,425,103$0$19,968,925
98$22,712,716$1,346,767$0$21,847,885
99$24,876,580$1,259,926$0$23,917,966
100$27,256,344$1,164,015$0$26,194,564