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%11.6%
1 years$161,029$159,595$158,195$156,829$155,496$154,451
2 years$79,717$78,233$76,794$75,399$74,046$72,992
3 years$52,617$51,126$49,691$48,309$46,978$45,948
4 years$39,070$37,583$36,162$34,804$33,505$32,507
5 years$30,943$29,466$28,063$26,733$25,470$24,506
6 years$25,527$24,061$22,679$21,378$20,153$19,226
7 years$21,660$20,206$18,847$17,576$16,390$15,499
8 years$18,761$17,320$15,983$14,744$13,597$12,742
9 years$16,508$15,081$13,767$12,559$11,451$10,632
10 years$14,706$13,293$12,002$10,826$9,757$8,973
11 years$13,233$11,834$10,566$9,422$8,391$7,642
12 years$12,006$10,621$9,377$8,264$7,271$6,557
13 years$10,969$9,599$8,378$7,296$6,341$5,660
14 years$10,081$8,725$7,528$6,477$5,558$4,911
15 years$9,312$7,970$6,797$5,776$4,894$4,278
16 years$8,639$7,313$6,162$5,172$4,325$3,741
17 years$8,047$6,735$5,607$4,647$3,835$3,281
18 years$7,520$6,223$5,119$4,188$3,410$2,885
19 years$7,050$5,768$4,686$3,784$3,039$2,542
20 years$6,627$5,359$4,300$3,427$2,715$2,245
21 years$6,245$4,992$3,956$3,110$2,430$1,986
22 years$5,899$4,660$3,646$2,828$2,178$1,759
23 years$5,583$4,358$3,366$2,575$1,955$1,560
24 years$5,293$4,084$3,113$2,349$1,757$1,386
25 years$5,027$3,832$2,883$2,145$1,581$1,232
26 years$4,782$3,602$2,674$1,961$1,424$1,096
27 years$4,556$3,390$2,483$1,795$1,284$976
28 years$4,346$3,194$2,308$1,645$1,159$869
29 years$4,151$3,013$2,148$1,508$1,046$775
30 years$3,969$2,846$2,001$1,384$945$691
31 years$3,800$2,690$1,865$1,271$855$617
32 years$3,641$2,545$1,741$1,169$773$551
33 years$3,492$2,410$1,625$1,075$700$492
34 years$3,352$2,285$1,518$989$633$440
35 years$3,221$2,167$1,420$910$574$393
36 years$3,097$2,057$1,328$838$520$351
37 years$2,980$1,953$1,243$772$471$314
38 years$2,870$1,856$1,164$712$427$281
39 years$2,765$1,765$1,091$656$387$251
40 years$2,666$1,679$1,022$605$351$225
41 years$2,572$1,599$958$559$319$201
42 years$2,483$1,523$899$515$289$180
43 years$2,398$1,451$844$476$262$161
44 years$2,317$1,383$792$439$238$144
45 years$2,240$1,319$744$406$216$129
46 years$2,166$1,258$698$375$196$116
47 years$2,096$1,200$656$346$178$104
48 years$2,029$1,146$617$320$162$93
49 years$1,965$1,094$580$296$147$83
50 years$1,904$1,045$545$273$134$74

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 $6,559 every year, while hoping to spend $52,546 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: 59/26/15 Blend
65$1,950,000$1,950,000$1,950,000$1,950,000
66$2,155,666$2,052,316$2,022,091$2,274,266
67$2,319,635$2,096,971$2,033,922$2,399,775
68$2,498,568$2,142,052$2,044,389$2,530,169
69$2,693,936$2,187,527$2,053,390$2,671,133
70$2,907,357$2,233,356$2,060,818$2,823,692
71$3,140,615$2,279,497$2,066,563$2,988,977
72$3,395,671$2,325,906$2,070,506$3,168,234
73$3,674,686$2,372,532$2,072,525$3,362,834
74$3,980,039$2,419,322$2,072,490$3,574,290
75$4,314,351$2,466,216$2,070,265$3,804,268
76$4,680,505$2,513,151$2,065,710$4,054,605
77$5,081,679$2,560,057$2,058,673$4,327,324
78$5,521,371$2,606,861$2,048,999$4,624,656
79$6,003,434$2,653,480$2,036,524$4,949,058
80$6,532,113$2,699,829$2,021,076$5,303,240
81$7,112,081$2,745,814$2,002,475$5,690,187
82$7,748,487$2,791,333$1,980,532$6,113,191
83$8,447,003$2,836,278$1,955,050$6,575,878
84$9,213,874$2,880,532$1,925,821$7,082,247
85$10,055,982$2,923,972$1,892,629$7,636,703
86$10,980,908$2,966,462$1,855,248$8,244,105
87$11,997,002$3,007,859$1,813,440$8,909,806
88$13,113,462$3,048,011$1,766,956$9,639,706
89$14,340,423$3,086,751$1,715,537$10,440,310
90$15,689,050$3,123,906$1,658,912$11,318,787
91$17,171,644$3,159,287$1,596,795$12,283,040
92$18,801,754$3,192,695$1,528,891$13,341,779
93$20,594,312$3,223,916$1,454,887$14,504,605
94$22,565,766$3,252,722$1,374,460$15,782,100
95$24,734,239$3,278,871$1,287,270$17,185,931
96$27,119,700$3,302,104$1,192,962$18,728,954
97$29,744,149$3,322,147$1,091,166$20,425,341
98$32,631,826$3,338,706$981,494$22,290,713
99$35,809,441$3,351,471$863,542$24,342,290
100$39,306,420$3,360,110$736,888$26,599,048