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

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$161,855$160,413$159,007$157,634$156,293$152,268
2 years$80,126$78,634$77,188$75,785$74,425$70,397
3 years$52,887$51,388$49,946$48,556$47,218$43,312
4 years$39,270$37,776$36,348$34,982$33,677$29,923
5 years$31,102$29,617$28,207$26,870$25,600$22,010
6 years$25,658$24,184$22,796$21,488$20,257$16,833
7 years$21,771$20,310$18,943$17,666$16,474$13,218
8 years$18,858$17,409$16,065$14,820$13,667$10,576
9 years$16,593$15,158$13,837$12,623$11,510$8,581
10 years$14,782$13,361$12,064$10,881$9,807$7,037
11 years$13,301$11,894$10,621$9,470$8,434$5,820
12 years$12,068$10,676$9,425$8,307$7,309$4,845
13 years$11,025$9,648$8,421$7,333$6,373$4,055
14 years$10,132$8,770$7,566$6,510$5,587$3,409
15 years$9,359$8,011$6,831$5,806$4,919$2,875
16 years$8,684$7,350$6,194$5,198$4,348$2,433
17 years$8,088$6,769$5,636$4,671$3,855$2,064
18 years$7,559$6,255$5,145$4,209$3,428$1,754
19 years$7,086$5,797$4,710$3,803$3,055$1,493
20 years$6,661$5,387$4,323$3,445$2,729$1,273
21 years$6,278$5,018$3,976$3,126$2,442$1,087
22 years$5,929$4,684$3,664$2,842$2,189$929
23 years$5,611$4,381$3,383$2,589$1,965$795
24 years$5,320$4,104$3,129$2,361$1,766$680
25 years$5,053$3,852$2,898$2,156$1,589$583
26 years$4,807$3,620$2,688$1,972$1,431$499
27 years$4,579$3,407$2,496$1,805$1,291$428
28 years$4,368$3,210$2,320$1,653$1,165$367
29 years$4,172$3,029$2,159$1,516$1,052$315
30 years$3,990$2,860$2,011$1,392$950$270
31 years$3,819$2,704$1,875$1,278$859$232
32 years$3,660$2,558$1,749$1,174$777$199
33 years$3,510$2,423$1,633$1,080$703$171
34 years$3,370$2,296$1,526$994$637$147
35 years$3,237$2,178$1,427$915$577$126
36 years$3,113$2,067$1,335$843$522$109
37 years$2,995$1,963$1,249$776$474$93
38 years$2,884$1,866$1,170$715$429$80
39 years$2,779$1,774$1,096$660$389$69
40 years$2,680$1,688$1,027$608$353$59
41 years$2,585$1,607$963$561$320$51
42 years$2,495$1,530$904$518$291$44
43 years$2,410$1,458$848$478$264$38
44 years$2,329$1,390$796$442$239$32
45 years$2,251$1,325$747$408$217$28
46 years$2,178$1,264$702$377$197$24
47 years$2,107$1,207$660$348$179$21
48 years$2,040$1,152$620$322$163$18
49 years$1,975$1,100$583$297$148$15
50 years$1,914$1,051$548$275$134$13

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 $2,903 every year, while hoping to spend $46,968 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: 45/42/13 Blend
65$1,960,000$1,960,000$1,960,000$1,960,000
66$2,162,914$2,059,034$2,028,654$2,252,106
67$2,333,558$2,109,954$2,046,641$2,365,331
68$2,520,033$2,161,794$2,063,655$2,483,041
69$2,723,905$2,214,550$2,079,616$2,609,644
70$2,946,897$2,268,216$2,094,437$2,745,980
71$3,190,907$2,322,785$2,108,027$2,892,975
72$3,458,023$2,378,245$2,120,289$3,051,646
73$3,750,547$2,434,585$2,131,125$3,223,117
74$4,071,012$2,491,789$2,140,427$3,408,623
75$4,422,209$2,549,840$2,148,085$3,609,525
76$4,807,210$2,608,719$2,153,982$3,827,323
77$5,229,401$2,668,401$2,157,996$4,063,669
78$5,692,509$2,728,861$2,159,997$4,320,382
79$6,200,639$2,790,070$2,159,851$4,599,469
80$6,758,315$2,851,994$2,157,417$4,903,137
81$7,370,517$2,914,596$2,152,545$5,233,822
82$8,042,735$2,977,836$2,145,080$5,594,206
83$8,781,012$3,041,668$2,134,858$5,987,245
84$9,592,007$3,106,042$2,121,708$6,416,196
85$10,483,057$3,170,904$2,105,451$6,884,649
86$11,462,243$3,236,192$2,085,897$7,396,560
87$12,538,469$3,301,842$2,062,852$7,956,289
88$13,721,542$3,367,782$2,036,107$8,568,641
89$15,022,269$3,433,933$2,005,446$9,238,911
90$16,452,557$3,500,212$1,970,645$9,972,936
91$18,025,521$3,566,526$1,931,465$10,777,149
92$19,755,614$3,632,775$1,887,658$11,658,639
93$21,658,758$3,698,852$1,838,966$12,625,221
94$23,752,497$3,764,642$1,785,117$13,685,507
95$26,056,160$3,830,018$1,725,828$14,848,989
96$28,591,046$3,894,847$1,660,801$16,126,130
97$31,380,621$3,958,982$1,589,726$17,528,462
98$34,450,741$4,022,269$1,512,278$19,068,694
99$37,829,896$4,084,540$1,428,119$20,760,837
100$41,549,478$4,145,615$1,336,893$22,620,331