Can I retire at age 66 with 1,950,000?

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 $1,950,000?

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$161,029$159,595$158,195$156,829$155,496$153,046
2 years$79,717$78,233$76,794$75,399$74,046$71,584
3 years$52,617$51,126$49,691$48,309$46,978$44,580
4 years$39,070$37,583$36,162$34,804$33,505$31,191
5 years$30,943$29,466$28,063$26,733$25,470$23,245
6 years$25,527$24,061$22,679$21,378$20,153$18,021
7 years$21,660$20,206$18,847$17,576$16,390$14,351
8 years$18,761$17,320$15,983$14,744$13,597$11,651
9 years$16,508$15,081$13,767$12,559$11,451$9,596
10 years$14,706$13,293$12,002$10,826$9,757$7,992
11 years$13,233$11,834$10,566$9,422$8,391$6,715
12 years$12,006$10,621$9,377$8,264$7,271$5,681
13 years$10,969$9,599$8,378$7,296$6,341$4,835
14 years$10,081$8,725$7,528$6,477$5,558$4,134
15 years$9,312$7,970$6,797$5,776$4,894$3,548
16 years$8,639$7,313$6,162$5,172$4,325$3,056
17 years$8,047$6,735$5,607$4,647$3,835$2,639
18 years$7,520$6,223$5,119$4,188$3,410$2,284
19 years$7,050$5,768$4,686$3,784$3,039$1,981
20 years$6,627$5,359$4,300$3,427$2,715$1,721
21 years$6,245$4,992$3,956$3,110$2,430$1,498
22 years$5,899$4,660$3,646$2,828$2,178$1,305
23 years$5,583$4,358$3,366$2,575$1,955$1,138
24 years$5,293$4,084$3,113$2,349$1,757$994
25 years$5,027$3,832$2,883$2,145$1,581$868
26 years$4,782$3,602$2,674$1,961$1,424$759
27 years$4,556$3,390$2,483$1,795$1,284$664
28 years$4,346$3,194$2,308$1,645$1,159$581
29 years$4,151$3,013$2,148$1,508$1,046$509
30 years$3,969$2,846$2,001$1,384$945$446
31 years$3,800$2,690$1,865$1,271$855$391
32 years$3,641$2,545$1,741$1,169$773$343
33 years$3,492$2,410$1,625$1,075$700$301
34 years$3,352$2,285$1,518$989$633$264
35 years$3,221$2,167$1,420$910$574$231
36 years$3,097$2,057$1,328$838$520$203
37 years$2,980$1,953$1,243$772$471$178
38 years$2,870$1,856$1,164$712$427$156
39 years$2,765$1,765$1,091$656$387$137
40 years$2,666$1,679$1,022$605$351$121
41 years$2,572$1,599$958$559$319$106
42 years$2,483$1,523$899$515$289$93
43 years$2,398$1,451$844$476$262$82
44 years$2,317$1,383$792$439$238$72
45 years$2,240$1,319$744$406$216$63
46 years$2,166$1,258$698$375$196$55
47 years$2,096$1,200$656$346$178$49
48 years$2,029$1,146$617$320$162$43
49 years$1,965$1,094$580$296$147$38
50 years$1,904$1,045$545$273$134$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,950,000, adding $3,419 every year, while hoping to spend $40,564 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: 71/9/20 Blend
65$1,950,000$1,950,000$1,950,000$1,950,000
66$2,152,427$2,049,077$2,018,852$2,294,557
67$2,328,814$2,106,322$2,043,323$2,446,929
68$2,521,834$2,165,012$2,067,255$2,608,553
69$2,733,140$2,225,176$2,090,587$2,784,502
70$2,964,552$2,286,841$2,113,253$2,976,191
71$3,218,076$2,350,036$2,135,187$3,185,178
72$3,495,920$2,414,789$2,156,316$3,413,178
73$3,800,517$2,481,126$2,176,566$3,662,082
74$4,134,545$2,549,077$2,195,856$3,933,972
75$4,500,955$2,618,668$2,214,104$4,231,141
76$4,902,996$2,689,927$2,231,220$4,556,117
77$5,344,248$2,762,880$2,247,113$4,911,684
78$5,828,654$2,837,554$2,261,684$5,300,910
79$6,360,557$2,913,974$2,274,830$5,727,174
80$6,944,742$2,992,167$2,286,445$6,194,199
81$7,586,479$3,072,156$2,296,414$6,706,089
82$8,291,575$3,153,966$2,304,619$7,267,365
83$9,066,425$3,237,620$2,310,933$7,883,007
84$9,918,077$3,323,140$2,315,226$8,558,505
85$10,854,294$3,410,548$2,317,359$9,299,905
86$11,883,629$3,499,862$2,317,188$10,113,873
87$13,015,506$3,591,101$2,314,561$11,007,751
88$14,260,306$3,684,284$2,309,317$11,989,632
89$15,629,468$3,779,425$2,301,290$13,068,433
90$17,135,595$3,876,538$2,290,304$14,253,979
91$18,792,572$3,975,635$2,276,176$15,557,099
92$20,615,699$4,076,726$2,258,713$16,989,723
93$22,621,834$4,179,818$2,237,712$18,565,001
94$24,829,548$4,284,917$2,212,964$20,297,423
95$27,259,309$4,392,025$2,184,245$22,202,954
96$29,933,666$4,501,141$2,151,324$24,299,192
97$32,877,464$4,612,262$2,113,958$26,605,526
98$36,118,084$4,725,380$2,071,894$29,143,324
99$39,685,690$4,840,486$2,024,864$31,936,133
100$43,613,525$4,957,564$1,972,591$35,009,905