Can I retire at age 66 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$161,855$160,413$159,007$157,634$156,293$154,532
2 years$80,126$78,634$77,188$75,785$74,425$72,653
3 years$52,887$51,388$49,946$48,556$47,218$45,489
4 years$39,270$37,776$36,348$34,982$33,677$32,004
5 years$31,102$29,617$28,207$26,870$25,600$23,989
6 years$25,658$24,184$22,796$21,488$20,257$18,709
7 years$21,771$20,310$18,943$17,666$16,474$14,990
8 years$18,858$17,409$16,065$14,820$13,667$12,247
9 years$16,593$15,158$13,837$12,623$11,510$10,153
10 years$14,782$13,361$12,064$10,881$9,807$8,512
11 years$13,301$11,894$10,621$9,470$8,434$7,201
12 years$12,068$10,676$9,425$8,307$7,309$6,136
13 years$11,025$9,648$8,421$7,333$6,373$5,259
14 years$10,132$8,770$7,566$6,510$5,587$4,530
15 years$9,359$8,011$6,831$5,806$4,919$3,917
16 years$8,684$7,350$6,194$5,198$4,348$3,400
17 years$8,088$6,769$5,636$4,671$3,855$2,959
18 years$7,559$6,255$5,145$4,209$3,428$2,581
19 years$7,086$5,797$4,710$3,803$3,055$2,257
20 years$6,661$5,387$4,323$3,445$2,729$1,977
21 years$6,278$5,018$3,976$3,126$2,442$1,735
22 years$5,929$4,684$3,664$2,842$2,189$1,524
23 years$5,611$4,381$3,383$2,589$1,965$1,341
24 years$5,320$4,104$3,129$2,361$1,766$1,180
25 years$5,053$3,852$2,898$2,156$1,589$1,040
26 years$4,807$3,620$2,688$1,972$1,431$918
27 years$4,579$3,407$2,496$1,805$1,291$810
28 years$4,368$3,210$2,320$1,653$1,165$715
29 years$4,172$3,029$2,159$1,516$1,052$632
30 years$3,990$2,860$2,011$1,392$950$559
31 years$3,819$2,704$1,875$1,278$859$494
32 years$3,660$2,558$1,749$1,174$777$437
33 years$3,510$2,423$1,633$1,080$703$387
34 years$3,370$2,296$1,526$994$637$343
35 years$3,237$2,178$1,427$915$577$303
36 years$3,113$2,067$1,335$843$522$269
37 years$2,995$1,963$1,249$776$474$238
38 years$2,884$1,866$1,170$715$429$211
39 years$2,779$1,774$1,096$660$389$187
40 years$2,680$1,688$1,027$608$353$166
41 years$2,585$1,607$963$561$320$147
42 years$2,495$1,530$904$518$291$130
43 years$2,410$1,458$848$478$264$116
44 years$2,329$1,390$796$442$239$102
45 years$2,251$1,325$747$408$217$91
46 years$2,178$1,264$702$377$197$81
47 years$2,107$1,207$660$348$179$71
48 years$2,040$1,152$620$322$163$63
49 years$1,975$1,100$583$297$148$56
50 years$1,914$1,051$548$275$134$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,960,000, adding $3,746 every year, while hoping to spend $55,223 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: 81/6/13 Blend
65$1,960,000$1,960,000$1,960,000$1,960,000
66$2,163,784$2,059,904$2,029,524$2,333,416
67$2,325,733$2,102,082$2,038,756$2,487,501
68$2,502,350$2,144,477$2,046,447$2,649,021
69$2,695,073$2,187,039$2,052,486$2,824,711
70$2,905,484$2,229,718$2,056,758$3,015,966
71$3,135,326$2,272,457$2,059,142$3,224,321
72$3,386,517$2,315,195$2,059,511$3,451,466
73$3,661,168$2,357,865$2,057,730$3,699,266
74$3,961,603$2,400,397$2,053,661$3,969,771
75$4,290,384$2,442,714$2,047,155$4,265,243
76$4,650,328$2,484,731$2,038,060$4,588,173
77$5,044,540$2,526,362$2,026,213$4,941,302
78$5,476,437$2,567,508$2,011,446$5,327,655
79$5,949,785$2,608,066$1,993,580$5,750,561
80$6,468,729$2,647,927$1,972,431$6,213,690
81$7,037,835$2,686,972$1,947,803$6,721,083
82$7,662,132$2,725,072$1,919,493$7,277,195
83$8,347,161$2,762,092$1,887,287$7,886,933
84$9,099,023$2,797,885$1,850,963$8,555,706
85$9,924,439$2,832,297$1,810,286$9,289,471
86$10,830,812$2,865,161$1,765,011$10,094,795
87$11,826,300$2,896,298$1,714,884$10,978,912
88$12,919,886$2,925,520$1,659,635$11,949,794
89$14,121,467$2,952,624$1,598,986$13,016,226
90$15,441,948$2,977,393$1,532,643$14,187,888
91$16,893,341$2,999,600$1,460,301$15,475,448
92$18,488,879$3,018,998$1,381,639$16,890,661
93$20,243,144$3,035,328$1,296,323$18,446,479
94$22,172,199$3,048,313$1,204,004$20,157,178
95$24,293,741$3,057,658$1,104,316$22,038,488
96$26,627,269$3,063,051$996,878$24,107,744
97$29,194,268$3,064,158$881,290$26,384,047
98$32,018,408$3,060,626$757,138$28,888,450
99$35,125,770$3,052,080$623,986$31,644,151
100$38,545,089$3,038,123$481,380$34,676,714