Can I retire at age 66 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$162,681$161,232$159,818$158,438$157,091$152,062
2 years$80,535$79,035$77,582$76,172$74,805$69,785
3 years$53,157$51,650$50,200$48,804$47,459$42,606
4 years$39,470$37,968$36,533$35,161$33,848$29,198
5 years$31,260$29,768$28,351$27,007$25,731$21,297
6 years$25,789$24,308$22,912$21,598$20,360$16,146
7 years$21,883$20,413$19,040$17,757$16,558$12,563
8 years$18,954$17,498$16,147$14,896$13,737$9,958
9 years$16,677$15,235$13,908$12,688$11,568$8,002
10 years$14,857$13,429$12,125$10,937$9,857$6,497
11 years$13,369$11,955$10,675$9,518$8,477$5,318
12 years$12,129$10,730$9,474$8,349$7,346$4,380
13 years$11,082$9,697$8,464$7,371$6,406$3,627
14 years$10,184$8,814$7,605$6,543$5,615$3,015
15 years$9,407$8,052$6,866$5,835$4,944$2,515
16 years$8,728$7,388$6,225$5,225$4,370$2,104
17 years$8,129$6,804$5,665$4,694$3,875$1,764
18 years$7,598$6,287$5,171$4,231$3,445$1,481
19 years$7,122$5,827$4,734$3,823$3,071$1,246
20 years$6,695$5,414$4,345$3,462$2,743$1,050
21 years$6,310$5,043$3,996$3,142$2,454$885
22 years$5,959$4,708$3,683$2,857$2,200$747
23 years$5,640$4,403$3,401$2,602$1,975$631
24 years$5,347$4,125$3,145$2,373$1,775$533
25 years$5,079$3,871$2,913$2,167$1,597$451
26 years$4,831$3,639$2,702$1,982$1,439$382
27 years$4,603$3,424$2,509$1,814$1,297$323
28 years$4,391$3,227$2,332$1,662$1,170$273
29 years$4,194$3,044$2,170$1,524$1,057$232
30 years$4,010$2,875$2,022$1,399$955$196
31 years$3,839$2,718$1,885$1,285$863$166
32 years$3,678$2,571$1,758$1,180$781$141
33 years$3,528$2,435$1,642$1,086$707$119
34 years$3,387$2,308$1,534$999$640$101
35 years$3,254$2,189$1,434$919$580$86
36 years$3,129$2,078$1,342$847$525$73
37 years$3,011$1,973$1,256$780$476$62
38 years$2,899$1,875$1,176$719$432$52
39 years$2,793$1,783$1,102$663$391$44
40 years$2,693$1,697$1,033$612$355$38
41 years$2,598$1,615$968$564$322$32
42 years$2,508$1,538$908$521$292$27
43 years$2,422$1,466$852$481$265$23
44 years$2,341$1,397$800$444$241$19
45 years$2,263$1,332$751$410$219$16
46 years$2,189$1,271$706$379$198$14
47 years$2,118$1,213$663$350$180$12
48 years$2,050$1,158$623$323$164$10
49 years$1,985$1,106$586$299$149$9
50 years$1,923$1,056$550$276$135$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,970,000, adding $3,095 every year, while hoping to spend $52,296 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: 31/50/19 Blend
65$1,970,000$1,970,000$1,970,000$1,970,000
66$2,174,132$2,069,722$2,039,187$2,228,522
67$2,340,251$2,115,496$2,051,858$2,315,444
68$2,521,562$2,161,760$2,063,200$2,403,986
69$2,719,558$2,208,483$2,073,114$2,498,191
70$2,935,885$2,255,631$2,081,495$2,598,584
71$3,172,353$2,303,165$2,088,233$2,705,741
72$3,430,957$2,351,044$2,093,213$2,820,300
73$3,713,892$2,399,223$2,096,313$2,942,962
74$4,023,575$2,447,651$2,097,405$3,074,503
75$4,362,668$2,496,274$2,096,357$3,215,777
76$4,734,102$2,545,033$2,093,027$3,367,727
77$5,141,105$2,593,865$2,087,268$3,531,394
78$5,587,233$2,642,699$2,078,926$3,707,925
79$6,076,400$2,691,461$2,067,840$3,898,587
80$6,612,920$2,740,069$2,053,839$4,104,777
81$7,201,541$2,788,435$2,036,746$4,328,037
82$7,847,495$2,836,466$2,016,374$4,570,070
83$8,556,547$2,884,060$1,992,530$4,832,751
84$9,335,042$2,931,106$1,965,007$5,118,152
85$10,189,975$2,977,489$1,933,593$5,428,558
86$11,129,047$3,023,081$1,898,063$5,766,492
87$12,160,745$3,067,747$1,858,184$6,134,734
88$13,294,418$3,111,343$1,813,709$6,536,356
89$14,540,363$3,153,713$1,764,383$6,974,743
90$15,909,927$3,194,692$1,709,937$7,453,632
91$17,415,609$3,234,102$1,650,090$7,977,146
92$19,071,181$3,271,753$1,584,548$8,549,831
93$20,891,816$3,307,444$1,513,005$9,176,705
94$22,894,231$3,340,957$1,435,139$9,863,303
95$25,096,841$3,372,064$1,350,616$10,615,730
96$27,519,942$3,400,517$1,259,084$11,440,720
97$30,185,890$3,426,057$1,160,177$12,345,704
98$33,119,320$3,448,403$1,053,513$13,338,876
99$36,347,377$3,467,260$938,691$14,429,275
100$39,899,966$3,482,313$815,294$15,626,870