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%14.2%
1 years$161,855$160,413$159,007$157,634$156,293$153,578
2 years$80,126$78,634$77,188$75,785$74,425$71,698
3 years$52,887$51,388$49,946$48,556$47,218$44,565
4 years$39,270$37,776$36,348$34,982$33,677$31,117
5 years$31,102$29,617$28,207$26,870$25,600$23,142
6 years$25,658$24,184$22,796$21,488$20,257$17,902
7 years$21,771$20,310$18,943$17,666$16,474$14,224
8 years$18,858$17,409$16,065$14,820$13,667$11,521
9 years$16,593$15,158$13,837$12,623$11,510$9,467
10 years$14,782$13,361$12,064$10,881$9,807$7,865
11 years$13,301$11,894$10,621$9,470$8,434$6,591
12 years$12,068$10,676$9,425$8,307$7,309$5,563
13 years$11,025$9,648$8,421$7,333$6,373$4,721
14 years$10,132$8,770$7,566$6,510$5,587$4,026
15 years$9,359$8,011$6,831$5,806$4,919$3,446
16 years$8,684$7,350$6,194$5,198$4,348$2,960
17 years$8,088$6,769$5,636$4,671$3,855$2,549
18 years$7,559$6,255$5,145$4,209$3,428$2,200
19 years$7,086$5,797$4,710$3,803$3,055$1,902
20 years$6,661$5,387$4,323$3,445$2,729$1,648
21 years$6,278$5,018$3,976$3,126$2,442$1,430
22 years$5,929$4,684$3,664$2,842$2,189$1,242
23 years$5,611$4,381$3,383$2,589$1,965$1,080
24 years$5,320$4,104$3,129$2,361$1,766$940
25 years$5,053$3,852$2,898$2,156$1,589$818
26 years$4,807$3,620$2,688$1,972$1,431$713
27 years$4,579$3,407$2,496$1,805$1,291$622
28 years$4,368$3,210$2,320$1,653$1,165$543
29 years$4,172$3,029$2,159$1,516$1,052$474
30 years$3,990$2,860$2,011$1,392$950$414
31 years$3,819$2,704$1,875$1,278$859$361
32 years$3,660$2,558$1,749$1,174$777$316
33 years$3,510$2,423$1,633$1,080$703$276
34 years$3,370$2,296$1,526$994$637$241
35 years$3,237$2,178$1,427$915$577$211
36 years$3,113$2,067$1,335$843$522$185
37 years$2,995$1,963$1,249$776$474$162
38 years$2,884$1,866$1,170$715$429$141
39 years$2,779$1,774$1,096$660$389$124
40 years$2,680$1,688$1,027$608$353$108
41 years$2,585$1,607$963$561$320$95
42 years$2,495$1,530$904$518$291$83
43 years$2,410$1,458$848$478$264$73
44 years$2,329$1,390$796$442$239$63
45 years$2,251$1,325$747$408$217$56
46 years$2,178$1,264$702$377$197$49
47 years$2,107$1,207$660$348$179$43
48 years$2,040$1,152$620$322$163$37
49 years$1,975$1,100$583$297$148$33
50 years$1,914$1,051$548$275$134$29

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 $6,247 every year, while hoping to spend $50,419 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: 41/33/26 Blend
65$1,960,000$1,960,000$1,960,000$1,960,000
66$2,166,364$2,062,484$2,032,104$2,238,393
67$2,333,687$2,109,900$2,046,534$2,338,293
68$2,516,388$2,157,950$2,059,757$2,441,140
69$2,715,982$2,206,611$2,071,681$2,551,486
70$2,934,135$2,255,859$2,082,206$2,670,048
71$3,172,686$2,305,665$2,091,229$2,797,620
72$3,433,656$2,355,999$2,098,641$2,935,075
73$3,719,272$2,406,825$2,104,329$3,083,376
74$4,031,985$2,458,107$2,108,171$3,243,587
75$4,374,496$2,509,802$2,110,043$3,416,878
76$4,749,776$2,561,865$2,109,811$3,604,542
77$5,161,102$2,614,244$2,107,338$3,808,004
78$5,612,078$2,666,886$2,102,478$4,028,835
79$6,106,677$2,719,731$2,095,078$4,268,768
80$6,649,273$2,772,713$2,084,978$4,529,714
81$7,244,686$2,825,762$2,072,011$4,813,782
82$7,898,221$2,878,802$2,056,001$5,123,295
83$8,615,727$2,931,750$2,036,764$5,460,818
84$9,403,642$2,984,517$2,014,107$5,829,177
85$10,269,062$3,037,007$1,987,828$6,231,491
86$11,219,802$3,089,116$1,957,716$6,671,198
87$12,264,471$3,140,731$1,923,548$7,152,090
88$13,412,553$3,191,734$1,885,094$7,678,349
89$14,674,500$3,241,995$1,842,110$8,254,586
90$16,061,821$3,291,375$1,794,343$8,885,887
91$17,587,201$3,339,726$1,741,528$9,577,860
92$19,264,612$3,386,889$1,683,386$10,336,688
93$21,109,450$3,432,695$1,619,627$11,169,191
94$23,138,676$3,476,959$1,549,947$12,082,889
95$25,370,980$3,519,489$1,474,029$13,086,071
96$27,826,952$3,560,076$1,391,540$14,187,881
97$30,529,279$3,598,497$1,302,135$15,398,400
98$33,502,958$3,634,517$1,205,449$16,728,742
99$36,775,533$3,667,881$1,101,105$18,191,163
100$40,377,352$3,698,322$988,707$19,799,176