Can I retire at age 66 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$160,203$158,776$157,384$156,025$154,698$152,261
2 years$79,309$77,832$76,400$75,012$73,666$71,217
3 years$52,347$50,864$49,436$48,061$46,737$44,352
4 years$38,869$37,390$35,977$34,625$33,333$31,031
5 years$30,784$29,314$27,919$26,596$25,339$23,126
6 years$25,396$23,937$22,563$21,269$20,050$17,929
7 years$21,549$20,103$18,750$17,486$16,306$14,277
8 years$18,665$17,232$15,901$14,669$13,527$11,591
9 years$16,423$15,003$13,696$12,494$11,392$9,547
10 years$14,631$13,225$11,940$10,770$9,707$7,951
11 years$13,165$11,773$10,512$9,373$8,348$6,680
12 years$11,945$10,567$9,329$8,222$7,234$5,652
13 years$10,913$9,549$8,335$7,259$6,308$4,810
14 years$10,029$8,680$7,489$6,443$5,530$4,112
15 years$9,264$7,929$6,762$5,746$4,869$3,530
16 years$8,595$7,275$6,130$5,145$4,303$3,040
17 years$8,005$6,700$5,578$4,623$3,816$2,625
18 years$7,482$6,191$5,092$4,166$3,393$2,273
19 years$7,014$5,738$4,662$3,765$3,024$1,971
20 years$6,593$5,332$4,278$3,409$2,701$1,713
21 years$6,213$4,967$3,935$3,094$2,417$1,490
22 years$5,868$4,636$3,627$2,813$2,167$1,298
23 years$5,554$4,336$3,349$2,562$1,945$1,132
24 years$5,266$4,063$3,097$2,337$1,748$989
25 years$5,002$3,813$2,869$2,134$1,573$864
26 years$4,758$3,583$2,660$1,951$1,417$755
27 years$4,533$3,372$2,470$1,786$1,277$661
28 years$4,324$3,178$2,297$1,637$1,153$578
29 years$4,130$2,998$2,137$1,501$1,041$507
30 years$3,949$2,831$1,991$1,377$940$444
31 years$3,780$2,676$1,856$1,265$850$389
32 years$3,622$2,532$1,732$1,163$769$341
33 years$3,474$2,398$1,617$1,069$696$299
34 years$3,335$2,273$1,511$984$630$262
35 years$3,204$2,156$1,412$905$571$230
36 years$3,081$2,046$1,321$834$517$202
37 years$2,965$1,943$1,237$768$469$177
38 years$2,855$1,847$1,158$708$425$156
39 years$2,751$1,756$1,085$653$385$137
40 years$2,652$1,671$1,017$602$350$120
41 years$2,559$1,591$954$556$317$105
42 years$2,470$1,515$894$513$288$93
43 years$2,385$1,443$839$473$261$81
44 years$2,305$1,376$788$437$237$71
45 years$2,228$1,312$740$404$215$63
46 years$2,155$1,251$695$373$195$55
47 years$2,086$1,194$653$345$177$48
48 years$2,019$1,140$613$318$161$43
49 years$1,955$1,089$577$294$146$37
50 years$1,894$1,040$542$272$133$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,940,000, adding $3,101 every year, while hoping to spend $24,313 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: 48/23/29 Blend
65$1,940,000$1,940,000$1,940,000$1,940,000
66$2,141,079$2,038,259$2,008,189$2,225,976
67$2,333,600$2,112,265$2,049,594$2,360,111
68$2,544,943$2,189,082$2,091,572$2,503,075
69$2,777,003$2,268,823$2,134,115$2,657,874
70$3,031,866$2,351,604$2,177,217$2,825,638
71$3,311,831$2,437,547$2,220,868$3,007,609
72$3,619,430$2,526,778$2,265,059$3,205,154
73$3,957,452$2,619,431$2,309,779$3,419,779
74$4,328,971$2,715,642$2,355,015$3,653,137
75$4,737,372$2,815,555$2,400,755$3,907,050
76$5,186,386$2,919,319$2,446,982$4,183,524
77$5,680,123$3,027,090$2,493,681$4,484,765
78$6,223,109$3,139,031$2,540,833$4,813,200
79$6,820,333$3,255,311$2,588,418$5,171,505
80$7,477,293$3,376,107$2,636,415$5,562,623
81$8,200,042$3,501,602$2,684,801$5,989,794
82$8,995,254$3,631,988$2,733,549$6,456,586
83$9,870,280$3,767,465$2,782,634$6,966,929
84$10,833,221$3,908,243$2,832,024$7,525,148
85$11,893,000$4,054,538$2,881,687$8,136,007
86$13,059,454$4,206,578$2,931,591$8,804,753
87$14,343,416$4,364,598$2,981,698$9,537,164
88$15,756,827$4,528,846$3,031,967$10,339,603
89$17,312,844$4,699,580$3,082,358$11,219,078
90$19,025,962$4,877,067$3,132,825$12,183,310
91$20,912,155$5,061,588$3,183,320$13,240,800
92$22,989,024$5,253,436$3,233,790$14,400,915
93$25,275,965$5,452,914$3,284,183$15,673,970
94$27,794,348$5,660,342$3,334,438$17,071,330
95$30,567,724$5,876,051$3,384,494$18,605,514
96$33,622,043$6,100,388$3,434,285$20,290,311
97$36,985,899$6,333,715$3,483,741$22,140,914
98$40,690,802$6,576,408$3,532,788$24,174,058
99$44,771,473$6,828,862$3,581,346$26,408,183
100$49,266,175$7,091,488$3,629,333$28,863,600