Can I retire at age 66 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$135,430$134,223$133,046$131,898$130,776$126,640
2 years$67,044$65,796$64,586$63,412$62,274$58,145
3 years$44,252$42,998$41,791$40,629$39,509$35,516
4 years$32,858$31,608$30,413$29,271$28,178$24,352
5 years$26,024$24,781$23,602$22,483$21,421$17,771
6 years$21,469$20,236$19,074$17,980$16,950$13,480
7 years$18,217$16,994$15,850$14,782$13,784$10,495
8 years$15,779$14,567$13,442$12,400$11,436$8,324
9 years$13,884$12,683$11,578$10,562$9,630$6,692
10 years$12,368$11,180$10,094$9,105$8,206$5,437
11 years$11,129$9,953$8,887$7,924$7,057$4,453
12 years$10,098$8,933$7,887$6,950$6,116$3,671
13 years$9,225$8,073$7,046$6,136$5,333$3,041
14 years$8,478$7,338$6,331$5,447$4,675$2,530
15 years$7,831$6,703$5,716$4,858$4,116$2,112
16 years$7,266$6,150$5,182$4,350$3,638$1,768
17 years$6,767$5,664$4,716$3,908$3,225$1,483
18 years$6,325$5,234$4,305$3,522$2,868$1,247
19 years$5,929$4,851$3,941$3,182$2,556$1,050
20 years$5,574$4,507$3,617$2,882$2,283$885
21 years$5,253$4,199$3,327$2,616$2,043$747
22 years$4,961$3,919$3,066$2,378$1,832$631
23 years$4,695$3,666$2,831$2,166$1,644$533
24 years$4,452$3,434$2,618$1,976$1,478$451
25 years$4,228$3,223$2,425$1,804$1,330$382
26 years$4,022$3,029$2,249$1,650$1,198$323
27 years$3,832$2,851$2,088$1,510$1,080$274
28 years$3,655$2,686$1,941$1,383$974$232
29 years$3,491$2,534$1,807$1,269$880$197
30 years$3,338$2,393$1,683$1,164$795$167
31 years$3,196$2,262$1,569$1,069$719$141
32 years$3,062$2,141$1,464$983$650$120
33 years$2,937$2,027$1,367$904$588$102
34 years$2,819$1,921$1,277$831$533$86
35 years$2,709$1,822$1,194$765$483$73
36 years$2,605$1,730$1,117$705$437$62
37 years$2,506$1,643$1,045$650$396$53
38 years$2,413$1,561$979$599$359$45
39 years$2,325$1,485$917$552$326$38
40 years$2,242$1,412$860$509$295$32
41 years$2,163$1,345$806$470$268$27
42 years$2,088$1,281$756$434$243$23
43 years$2,017$1,220$710$400$221$20
44 years$1,949$1,163$666$370$200$17
45 years$1,884$1,109$625$341$182$14
46 years$1,822$1,058$587$315$165$12
47 years$1,763$1,010$552$291$150$10
48 years$1,707$964$519$269$136$9
49 years$1,653$920$487$249$124$7
50 years$1,601$879$458$230$112$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,640,000, adding $4,327 every year, while hoping to spend $41,540 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: 65/29/6 Blend
65$1,640,000$1,640,000$1,640,000$1,640,000
66$1,811,743$1,724,823$1,699,403$1,927,472
67$1,952,343$1,765,141$1,712,135$2,045,254
68$2,105,891$1,806,043$1,723,901$2,168,528
69$2,273,666$1,847,512$1,734,625$2,302,103
70$2,457,072$1,889,533$1,744,227$2,446,978
71$2,657,657$1,932,084$1,752,623$2,604,248
72$2,877,126$1,975,144$1,759,724$2,775,123
73$3,117,355$2,018,688$1,765,437$2,960,934
74$3,380,410$2,062,689$1,769,664$3,163,147
75$3,668,568$2,107,116$1,772,303$3,383,376
76$3,984,333$2,151,936$1,773,246$3,623,398
77$4,330,465$2,197,111$1,772,381$3,885,174
78$4,710,005$2,242,602$1,769,587$4,170,860
79$5,126,299$2,288,363$1,764,742$4,482,834
80$5,583,035$2,334,346$1,757,715$4,823,714
81$6,084,275$2,380,500$1,748,369$5,196,385
82$6,634,492$2,426,765$1,736,560$5,604,025
83$7,238,614$2,473,081$1,722,139$6,050,136
84$7,902,070$2,519,379$1,704,948$6,538,576
85$8,630,840$2,565,587$1,684,822$7,073,597
86$9,431,510$2,611,626$1,661,589$7,659,883
87$10,311,340$2,657,411$1,635,067$8,302,596
88$11,278,324$2,702,851$1,605,069$9,007,423
89$12,341,269$2,747,847$1,571,395$9,780,631
90$13,509,880$2,792,293$1,533,839$10,629,127
91$14,794,849$2,836,076$1,492,183$11,560,521
92$16,207,953$2,879,074$1,446,201$12,583,198
93$17,762,171$2,921,156$1,395,656$13,706,402
94$19,471,801$2,962,181$1,340,299$14,940,315
95$21,352,597$3,002,000$1,279,871$16,296,160
96$23,421,916$3,040,452$1,214,101$17,786,306
97$25,698,884$3,077,366$1,142,705$19,424,383
98$28,204,572$3,112,559$1,065,387$21,225,410
99$30,962,198$3,145,835$981,838$23,205,941
100$33,997,347$3,176,985$891,734$25,384,216