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

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$132,127$130,950$129,801$128,681$127,586$123,601
2 years$65,409$64,191$63,010$61,866$60,755$56,776
3 years$43,173$41,950$40,772$39,638$38,546$34,697
4 years$32,057$30,837$29,671$28,557$27,491$23,802
5 years$25,389$24,177$23,026$21,934$20,898$17,379
6 years$20,945$19,742$18,609$17,541$16,536$13,190
7 years$17,773$16,579$15,464$14,422$13,448$10,275
8 years$15,394$14,212$13,115$12,098$11,157$8,154
9 years$13,545$12,374$11,296$10,305$9,396$6,560
10 years$12,067$10,907$9,848$8,883$8,005$5,333
11 years$10,858$9,710$8,670$7,731$6,885$4,371
12 years$9,851$8,715$7,694$6,781$5,966$3,605
13 years$9,000$7,876$6,874$5,986$5,203$2,989
14 years$8,271$7,159$6,177$5,314$4,561$2,488
15 years$7,640$6,540$5,577$4,739$4,016$2,079
16 years$7,089$6,000$5,056$4,243$3,549$1,741
17 years$6,602$5,526$4,601$3,813$3,147$1,462
18 years$6,171$5,106$4,200$3,436$2,798$1,230
19 years$5,785$4,732$3,845$3,105$2,494$1,036
20 years$5,438$4,398$3,529$2,812$2,228$874
21 years$5,124$4,096$3,246$2,552$1,993$738
22 years$4,840$3,824$2,991$2,320$1,787$624
23 years$4,581$3,576$2,762$2,113$1,604$528
24 years$4,343$3,351$2,554$1,927$1,442$447
25 years$4,125$3,144$2,366$1,760$1,297$378
26 years$3,924$2,955$2,194$1,609$1,169$321
27 years$3,738$2,781$2,038$1,473$1,054$272
28 years$3,566$2,621$1,894$1,350$951$231
29 years$3,406$2,472$1,763$1,238$858$196
30 years$3,257$2,335$1,642$1,136$776$166
31 years$3,118$2,207$1,531$1,043$701$141
32 years$2,987$2,088$1,428$959$634$120
33 years$2,865$1,978$1,333$882$574$101
34 years$2,751$1,875$1,246$811$520$86
35 years$2,643$1,778$1,165$747$471$73
36 years$2,541$1,688$1,090$688$427$62
37 years$2,445$1,603$1,020$634$387$53
38 years$2,355$1,523$955$584$350$45
39 years$2,269$1,448$895$539$318$38
40 years$2,187$1,378$839$497$288$32
41 years$2,110$1,312$786$458$262$27
42 years$2,037$1,249$738$423$237$23
43 years$1,967$1,190$692$390$215$20
44 years$1,901$1,135$650$361$195$17
45 years$1,838$1,082$610$333$177$14
46 years$1,778$1,032$573$308$161$12
47 years$1,720$985$538$284$146$10
48 years$1,665$940$506$263$133$9
49 years$1,612$898$476$243$121$7
50 years$1,562$858$447$224$110$6

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 $3,660 every year, while hoping to spend $47,504 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: 37/38/25 Blend
65$1,600,000$1,600,000$1,600,000$1,600,000
66$1,766,975$1,682,175$1,657,375$1,818,995
67$1,896,663$1,714,058$1,662,353$1,889,386
68$2,037,986$1,745,911$1,665,906$1,960,727
69$2,192,083$1,777,682$1,667,936$2,036,854
70$2,360,203$1,809,316$1,668,339$2,118,227
71$2,543,724$1,840,753$1,667,009$2,205,357
72$2,744,162$1,871,928$1,663,832$2,298,806
73$2,963,185$1,902,771$1,658,689$2,399,196
74$3,202,631$1,933,208$1,651,456$2,507,216
75$3,464,522$1,963,158$1,642,002$2,623,624
76$3,751,085$1,992,535$1,630,192$2,749,258
77$4,064,773$2,021,246$1,615,881$2,885,045
78$4,408,287$2,049,194$1,598,919$3,032,007
79$4,784,599$2,076,271$1,579,150$3,191,276
80$5,196,985$2,102,366$1,556,408$3,364,097
81$5,649,052$2,127,356$1,530,522$3,551,851
82$6,144,771$2,151,113$1,501,311$3,756,057
83$6,688,519$2,173,498$1,468,586$3,978,397
84$7,285,114$2,194,366$1,432,150$4,220,726
85$7,939,865$2,213,559$1,391,796$4,485,093
86$8,658,617$2,230,909$1,347,307$4,773,758
87$9,447,812$2,246,240$1,298,458$5,089,220
88$10,314,545$2,259,361$1,245,012$5,434,235
89$11,266,630$2,270,072$1,186,722$5,811,844
90$12,312,678$2,278,157$1,123,329$6,225,408
91$13,462,174$2,283,390$1,054,563$6,678,632
92$14,725,568$2,285,527$980,143$7,175,609
93$16,114,370$2,284,312$899,772$7,720,852
94$17,641,264$2,279,472$813,142$8,319,347
95$19,320,222$2,270,716$719,932$8,976,590
96$21,166,641$2,257,737$619,806$9,698,650
97$23,197,480$2,240,208$512,411$10,492,223
98$25,431,428$2,217,783$397,382$11,364,694
99$27,889,075$2,190,095$274,335$12,324,216
100$30,593,106$2,156,755$142,871$13,379,778