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

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$161,029$159,595$158,195$156,829$155,496$154,129
2 years$79,717$78,233$76,794$75,399$74,046$72,668
3 years$52,617$51,126$49,691$48,309$46,978$45,632
4 years$39,070$37,583$36,162$34,804$33,505$32,202
5 years$30,943$29,466$28,063$26,733$25,470$24,213
6 years$25,527$24,061$22,679$21,378$20,153$18,945
7 years$21,660$20,206$18,847$17,576$16,390$15,230
8 years$18,761$17,320$15,983$14,744$13,597$12,485
9 years$16,508$15,081$13,767$12,559$11,451$10,387
10 years$14,706$13,293$12,002$10,826$9,757$8,741
11 years$13,233$11,834$10,566$9,422$8,391$7,422
12 years$12,006$10,621$9,377$8,264$7,271$6,348
13 years$10,969$9,599$8,378$7,296$6,341$5,462
14 years$10,081$8,725$7,528$6,477$5,558$4,723
15 years$9,312$7,970$6,797$5,776$4,894$4,101
16 years$8,639$7,313$6,162$5,172$4,325$3,574
17 years$8,047$6,735$5,607$4,647$3,835$3,123
18 years$7,520$6,223$5,119$4,188$3,410$2,737
19 years$7,050$5,768$4,686$3,784$3,039$2,403
20 years$6,627$5,359$4,300$3,427$2,715$2,114
21 years$6,245$4,992$3,956$3,110$2,430$1,863
22 years$5,899$4,660$3,646$2,828$2,178$1,645
23 years$5,583$4,358$3,366$2,575$1,955$1,453
24 years$5,293$4,084$3,113$2,349$1,757$1,286
25 years$5,027$3,832$2,883$2,145$1,581$1,138
26 years$4,782$3,602$2,674$1,961$1,424$1,009
27 years$4,556$3,390$2,483$1,795$1,284$895
28 years$4,346$3,194$2,308$1,645$1,159$794
29 years$4,151$3,013$2,148$1,508$1,046$705
30 years$3,969$2,846$2,001$1,384$945$626
31 years$3,800$2,690$1,865$1,271$855$557
32 years$3,641$2,545$1,741$1,169$773$495
33 years$3,492$2,410$1,625$1,075$700$440
34 years$3,352$2,285$1,518$989$633$392
35 years$3,221$2,167$1,420$910$574$349
36 years$3,097$2,057$1,328$838$520$310
37 years$2,980$1,953$1,243$772$471$276
38 years$2,870$1,856$1,164$712$427$246
39 years$2,765$1,765$1,091$656$387$219
40 years$2,666$1,679$1,022$605$351$195
41 years$2,572$1,599$958$559$319$174
42 years$2,483$1,523$899$515$289$155
43 years$2,398$1,451$844$476$262$138
44 years$2,317$1,383$792$439$238$123
45 years$2,240$1,319$744$406$216$110
46 years$2,166$1,258$698$375$196$98
47 years$2,096$1,200$656$346$178$87
48 years$2,029$1,146$617$320$162$78
49 years$1,965$1,094$580$296$147$69
50 years$1,904$1,045$545$273$134$62

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 $3,850 every year, while hoping to spend $40,458 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: 36/43/21 Blend
65$1,950,000$1,950,000$1,950,000$1,950,000
66$2,152,871$2,049,521$2,019,296$2,216,565
67$2,329,417$2,106,901$2,043,896$2,320,874
68$2,522,615$2,165,736$2,067,963$2,429,369
69$2,734,120$2,226,055$2,091,438$2,545,671
70$2,965,756$2,287,888$2,114,257$2,670,502
71$3,219,530$2,351,262$2,136,352$2,804,658
72$3,497,654$2,416,206$2,157,652$2,949,012
73$3,802,564$2,482,749$2,178,082$3,104,528
74$4,136,941$2,550,919$2,197,564$3,272,266
75$4,503,740$2,620,745$2,216,013$3,453,392
76$4,906,214$2,692,254$2,233,342$3,649,191
77$5,347,948$2,765,475$2,249,460$3,861,078
78$5,832,891$2,840,435$2,264,268$4,090,610
79$6,365,389$2,917,160$2,277,665$4,339,502
80$6,950,236$2,995,677$2,289,543$4,609,645
81$7,592,707$3,076,013$2,299,790$4,903,119
82$8,298,618$3,158,192$2,308,288$5,222,216
83$9,074,372$3,242,238$2,314,910$5,569,461
84$9,927,025$3,328,176$2,319,527$5,947,636
85$10,864,352$3,416,026$2,322,002$6,359,805
86$11,894,917$3,505,812$2,322,190$6,809,345
87$13,028,154$3,597,553$2,319,939$7,299,975
88$14,274,461$3,691,268$2,315,092$7,835,793
89$15,645,290$3,786,975$2,307,482$8,421,315
90$17,153,261$3,884,688$2,296,934$9,061,517
91$18,812,278$3,984,421$2,283,265$9,761,882
92$20,637,660$4,086,188$2,266,284$10,528,451
93$22,646,286$4,189,996$2,245,790$11,367,881
94$24,856,756$4,295,854$2,221,572$12,287,509
95$27,289,560$4,403,767$2,193,410$13,295,418
96$29,967,280$4,513,736$2,161,074$14,400,518
97$32,914,793$4,625,760$2,124,321$15,612,626
98$36,159,515$4,739,835$2,082,898$16,942,560
99$39,731,652$4,855,953$2,036,542$18,402,245
100$43,664,488$4,974,103$1,984,974$20,004,819