Can I retire at age 66 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$132,127$130,950$129,801$128,681$127,586$124,099
2 years$65,409$64,191$63,010$61,866$60,755$57,268
3 years$43,173$41,950$40,772$39,638$38,546$35,167
4 years$32,057$30,837$29,671$28,557$27,491$24,247
5 years$25,389$24,177$23,026$21,934$20,898$17,797
6 years$20,945$19,742$18,609$17,541$16,536$13,581
7 years$17,773$16,579$15,464$14,422$13,448$10,640
8 years$15,394$14,212$13,115$12,098$11,157$8,493
9 years$13,545$12,374$11,296$10,305$9,396$6,875
10 years$12,067$10,907$9,848$8,883$8,005$5,624
11 years$10,858$9,710$8,670$7,731$6,885$4,639
12 years$9,851$8,715$7,694$6,781$5,966$3,852
13 years$9,000$7,876$6,874$5,986$5,203$3,215
14 years$8,271$7,159$6,177$5,314$4,561$2,695
15 years$7,640$6,540$5,577$4,739$4,016$2,267
16 years$7,089$6,000$5,056$4,243$3,549$1,913
17 years$6,602$5,526$4,601$3,813$3,147$1,618
18 years$6,171$5,106$4,200$3,436$2,798$1,371
19 years$5,785$4,732$3,845$3,105$2,494$1,164
20 years$5,438$4,398$3,529$2,812$2,228$989
21 years$5,124$4,096$3,246$2,552$1,993$842
22 years$4,840$3,824$2,991$2,320$1,787$717
23 years$4,581$3,576$2,762$2,113$1,604$612
24 years$4,343$3,351$2,554$1,927$1,442$522
25 years$4,125$3,144$2,366$1,760$1,297$446
26 years$3,924$2,955$2,194$1,609$1,169$381
27 years$3,738$2,781$2,038$1,473$1,054$325
28 years$3,566$2,621$1,894$1,350$951$278
29 years$3,406$2,472$1,763$1,238$858$238
30 years$3,257$2,335$1,642$1,136$776$204
31 years$3,118$2,207$1,531$1,043$701$174
32 years$2,987$2,088$1,428$959$634$149
33 years$2,865$1,978$1,333$882$574$128
34 years$2,751$1,875$1,246$811$520$109
35 years$2,643$1,778$1,165$747$471$94
36 years$2,541$1,688$1,090$688$427$80
37 years$2,445$1,603$1,020$634$387$69
38 years$2,355$1,523$955$584$350$59
39 years$2,269$1,448$895$539$318$50
40 years$2,187$1,378$839$497$288$43
41 years$2,110$1,312$786$458$262$37
42 years$2,037$1,249$738$423$237$32
43 years$1,967$1,190$692$390$215$27
44 years$1,901$1,135$650$361$195$23
45 years$1,838$1,082$610$333$177$20
46 years$1,778$1,032$573$308$161$17
47 years$1,720$985$538$284$146$15
48 years$1,665$940$506$263$133$13
49 years$1,612$898$476$243$121$11
50 years$1,562$858$447$224$110$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,600,000, adding $2,097 every year, while hoping to spend $28,127 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: 70/6/24 Blend
65$1,600,000$1,600,000$1,600,000$1,600,000
66$1,765,363$1,680,563$1,655,763$1,878,093
67$1,915,503$1,732,984$1,681,304$2,006,189
68$2,080,015$1,787,030$1,706,758$2,142,887
69$2,260,334$1,842,753$1,732,093$2,291,856
70$2,458,043$1,900,203$1,757,273$2,454,313
71$2,674,884$1,959,433$1,782,262$2,631,596
72$2,912,776$2,020,498$1,807,021$2,825,178
73$3,173,831$2,083,455$1,831,508$3,036,683
74$3,460,379$2,148,361$1,855,681$3,267,900
75$3,774,983$2,215,276$1,879,491$3,520,800
76$4,120,468$2,284,262$1,902,892$3,797,553
77$4,499,947$2,355,382$1,925,830$4,100,552
78$4,916,848$2,428,702$1,948,251$4,432,431
79$5,374,946$2,504,288$1,970,097$4,796,093
80$5,878,402$2,582,210$1,991,307$5,194,737
81$6,431,801$2,662,539$2,011,817$5,631,888
82$7,040,190$2,745,350$2,031,559$6,111,429
83$7,709,134$2,830,717$2,050,461$6,637,637
84$8,444,762$2,918,718$2,068,448$7,215,229
85$9,253,827$3,009,435$2,085,440$7,849,397
86$10,143,770$3,102,949$2,101,354$8,545,868
87$11,122,787$3,199,346$2,116,102$9,310,946
88$12,199,910$3,298,713$2,129,591$10,151,584
89$13,385,092$3,401,141$2,141,723$11,075,439
90$14,689,298$3,506,724$2,152,397$12,090,950
91$16,124,609$3,615,555$2,161,505$13,207,416
92$17,704,337$3,727,736$2,168,933$14,435,085
93$19,443,151$3,843,366$2,174,564$15,785,249
94$21,357,212$3,962,551$2,178,271$17,270,350
95$23,464,329$4,085,397$2,179,925$18,904,102
96$25,784,126$4,212,017$2,179,388$20,701,615
97$28,338,225$4,342,524$2,176,516$22,679,539
98$31,150,452$4,477,035$2,171,157$24,856,225
99$34,247,060$4,615,672$2,163,152$27,251,892
100$37,656,979$4,758,559$2,152,337$29,888,824