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%17.8%
1 years$162,681$161,232$159,818$158,438$157,091$152,123
2 years$80,535$79,035$77,582$76,172$74,805$69,845
3 years$53,157$51,650$50,200$48,804$47,459$42,663
4 years$39,470$37,968$36,533$35,161$33,848$29,252
5 years$31,260$29,768$28,351$27,007$25,731$21,347
6 years$25,789$24,308$22,912$21,598$20,360$16,193
7 years$21,883$20,413$19,040$17,757$16,558$12,607
8 years$18,954$17,498$16,147$14,896$13,737$9,999
9 years$16,677$15,235$13,908$12,688$11,568$8,039
10 years$14,857$13,429$12,125$10,937$9,857$6,531
11 years$13,369$11,955$10,675$9,518$8,477$5,350
12 years$12,129$10,730$9,474$8,349$7,346$4,410
13 years$11,082$9,697$8,464$7,371$6,406$3,653
14 years$10,184$8,814$7,605$6,543$5,615$3,039
15 years$9,407$8,052$6,866$5,835$4,944$2,537
16 years$8,728$7,388$6,225$5,225$4,370$2,124
17 years$8,129$6,804$5,665$4,694$3,875$1,782
18 years$7,598$6,287$5,171$4,231$3,445$1,498
19 years$7,122$5,827$4,734$3,823$3,071$1,261
20 years$6,695$5,414$4,345$3,462$2,743$1,063
21 years$6,310$5,043$3,996$3,142$2,454$897
22 years$5,959$4,708$3,683$2,857$2,200$758
23 years$5,640$4,403$3,401$2,602$1,975$640
24 years$5,347$4,125$3,145$2,373$1,775$542
25 years$5,079$3,871$2,913$2,167$1,597$458
26 years$4,831$3,639$2,702$1,982$1,439$388
27 years$4,603$3,424$2,509$1,814$1,297$329
28 years$4,391$3,227$2,332$1,662$1,170$279
29 years$4,194$3,044$2,170$1,524$1,057$236
30 years$4,010$2,875$2,022$1,399$955$200
31 years$3,839$2,718$1,885$1,285$863$170
32 years$3,678$2,571$1,758$1,180$781$144
33 years$3,528$2,435$1,642$1,086$707$122
34 years$3,387$2,308$1,534$999$640$104
35 years$3,254$2,189$1,434$919$580$88
36 years$3,129$2,078$1,342$847$525$75
37 years$3,011$1,973$1,256$780$476$63
38 years$2,899$1,875$1,176$719$432$54
39 years$2,793$1,783$1,102$663$391$46
40 years$2,693$1,697$1,033$612$355$39
41 years$2,598$1,615$968$564$322$33
42 years$2,508$1,538$908$521$292$28
43 years$2,422$1,466$852$481$265$24
44 years$2,341$1,397$800$444$241$20
45 years$2,263$1,332$751$410$219$17
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$8

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 $6,062 every year, while hoping to spend $23,238 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: 40/35/25 Blend
65$1,970,000$1,970,000$1,970,000$1,970,000
66$2,177,193$2,072,783$2,042,248$2,247,980
67$2,374,542$2,149,624$2,085,938$2,376,527
68$2,591,241$2,229,452$2,130,313$2,512,874
69$2,829,240$2,312,388$2,175,371$2,659,929
70$3,090,687$2,398,559$2,221,110$2,818,685
71$3,377,946$2,488,098$2,267,527$2,990,232
72$3,693,624$2,581,142$2,314,617$3,175,770
73$4,040,592$2,677,836$2,362,374$3,376,614
74$4,422,012$2,778,330$2,410,794$3,594,213
75$4,841,370$2,882,780$2,459,868$3,830,159
76$5,302,504$2,991,351$2,509,587$4,086,201
77$5,809,644$3,104,211$2,559,943$4,364,264
78$6,367,450$3,221,540$2,610,924$4,666,464
79$6,981,056$3,343,523$2,662,517$4,995,131
80$7,656,121$3,470,352$2,714,708$5,352,825
81$8,398,877$3,602,231$2,767,482$5,742,364
82$9,216,191$3,739,369$2,820,822$6,166,848
83$10,115,632$3,881,987$2,874,708$6,629,688
84$11,105,536$4,030,314$2,929,121$7,134,640
85$12,195,091$4,184,590$2,984,036$7,685,834
86$13,394,419$4,345,064$3,039,430$8,287,819
87$14,714,675$4,511,997$3,095,276$8,945,599
88$16,168,148$4,685,661$3,151,545$9,664,686
89$17,768,382$4,866,342$3,208,204$10,451,145
90$19,530,299$5,054,334$3,265,221$11,311,653
91$21,470,343$5,249,949$3,322,559$12,253,564
92$23,606,631$5,453,510$3,380,178$13,284,973
93$25,959,129$5,665,354$3,438,036$14,414,794
94$28,549,838$5,885,834$3,496,087$15,652,843
95$31,402,999$6,115,318$3,554,285$17,009,927
96$34,545,328$6,354,191$3,612,575$18,497,952
97$38,006,259$6,602,854$3,670,904$20,130,025
98$41,818,230$6,861,727$3,729,213$21,920,583
99$46,016,985$7,131,247$3,787,437$23,885,528
100$50,641,913$7,411,873$3,845,511$26,042,372