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%15%
1 years$160,203$158,776$157,384$156,025$154,698$151,513
2 years$79,309$77,832$76,400$75,012$73,666$70,471
3 years$52,347$50,864$49,436$48,061$46,737$43,632
4 years$38,869$37,390$35,977$34,625$33,333$30,343
5 years$30,784$29,314$27,919$26,596$25,339$22,472
6 years$25,396$23,937$22,563$21,269$20,050$17,308
7 years$21,549$20,103$18,750$17,486$16,306$13,691
8 years$18,665$17,232$15,901$14,669$13,527$11,038
9 years$16,423$15,003$13,696$12,494$11,392$9,026
10 years$14,631$13,225$11,940$10,770$9,707$7,462
11 years$13,165$11,773$10,512$9,373$8,348$6,222
12 years$11,945$10,567$9,329$8,222$7,234$5,224
13 years$10,913$9,549$8,335$7,259$6,308$4,411
14 years$10,029$8,680$7,489$6,443$5,530$3,741
15 years$9,264$7,929$6,762$5,746$4,869$3,184
16 years$8,595$7,275$6,130$5,145$4,303$2,719
17 years$8,005$6,700$5,578$4,623$3,816$2,328
18 years$7,482$6,191$5,092$4,166$3,393$1,998
19 years$7,014$5,738$4,662$3,765$3,024$1,718
20 years$6,593$5,332$4,278$3,409$2,701$1,479
21 years$6,213$4,967$3,935$3,094$2,417$1,275
22 years$5,868$4,636$3,627$2,813$2,167$1,101
23 years$5,554$4,336$3,349$2,562$1,945$951
24 years$5,266$4,063$3,097$2,337$1,748$823
25 years$5,002$3,813$2,869$2,134$1,573$712
26 years$4,758$3,583$2,660$1,951$1,417$617
27 years$4,533$3,372$2,470$1,786$1,277$534
28 years$4,324$3,178$2,297$1,637$1,153$463
29 years$4,130$2,998$2,137$1,501$1,041$402
30 years$3,949$2,831$1,991$1,377$940$349
31 years$3,780$2,676$1,856$1,265$850$302
32 years$3,622$2,532$1,732$1,163$769$263
33 years$3,474$2,398$1,617$1,069$696$228
34 years$3,335$2,273$1,511$984$630$198
35 years$3,204$2,156$1,412$905$571$172
36 years$3,081$2,046$1,321$834$517$149
37 years$2,965$1,943$1,237$768$469$130
38 years$2,855$1,847$1,158$708$425$113
39 years$2,751$1,756$1,085$653$385$98
40 years$2,652$1,671$1,017$602$350$85
41 years$2,559$1,591$954$556$317$74
42 years$2,470$1,515$894$513$288$64
43 years$2,385$1,443$839$473$261$56
44 years$2,305$1,376$788$437$237$49
45 years$2,228$1,312$740$404$215$42
46 years$2,155$1,251$695$373$195$37
47 years$2,086$1,194$653$345$177$32
48 years$2,019$1,140$613$318$161$28
49 years$1,955$1,089$577$294$146$24
50 years$1,894$1,040$542$272$133$21

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 $5,833 every year, while hoping to spend $35,744 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: 33/44/23 Blend
65$1,940,000$1,940,000$1,940,000$1,940,000
66$2,143,897$2,041,077$2,011,007$2,199,377
67$2,324,543$2,103,058$2,040,344$2,303,424
68$2,522,417$2,166,879$2,069,466$2,411,838
69$2,739,238$2,232,591$2,098,328$2,527,955
70$2,976,901$2,300,248$2,126,883$2,652,479
71$3,237,490$2,369,906$2,155,079$2,786,182
72$3,523,304$2,441,620$2,182,863$2,929,911
73$3,836,871$2,515,450$2,210,179$3,084,601
74$4,180,979$2,591,454$2,236,968$3,251,278
75$4,558,698$2,669,695$2,263,165$3,431,073
76$4,973,409$2,750,233$2,288,705$3,625,228
77$5,428,836$2,833,134$2,313,516$3,835,110
78$5,929,084$2,918,464$2,337,525$4,062,224
79$6,478,672$3,006,290$2,360,653$4,308,228
80$7,082,579$3,096,681$2,382,818$4,574,944
81$7,746,292$3,189,709$2,403,933$4,864,380
82$8,475,855$3,285,445$2,423,905$5,178,745
83$9,277,925$3,383,965$2,442,640$5,520,472
84$10,159,839$3,485,345$2,460,033$5,892,240
85$11,129,679$3,589,663$2,475,980$6,296,999
86$12,196,348$3,696,999$2,490,368$6,737,997
87$13,369,658$3,807,434$2,503,078$7,218,813
88$14,660,418$3,921,053$2,513,986$7,743,386
89$16,080,538$4,037,942$2,522,962$8,316,056
90$17,643,140$4,158,189$2,529,868$8,941,604
91$19,362,683$4,281,882$2,534,561$9,625,294
92$21,255,097$4,409,115$2,536,889$10,372,927
93$23,337,936$4,539,981$2,536,694$11,190,892
94$25,630,541$4,674,576$2,533,809$12,086,228
95$28,154,225$4,812,998$2,528,060$13,066,688
96$30,932,469$4,955,348$2,519,264$14,140,817
97$33,991,149$5,101,729$2,507,228$15,318,024
98$37,358,778$5,252,245$2,491,751$16,608,680
99$41,066,771$5,407,003$2,472,622$18,024,209
100$45,149,747$5,566,111$2,449,621$19,577,198