Can I retire at age 66 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$163,507$162,050$160,629$159,242$157,888$155,017
2 years$80,944$79,436$77,975$76,559$75,185$72,303
3 years$53,427$51,913$50,455$49,052$47,700$44,897
4 years$39,671$38,161$36,718$35,339$34,020$31,317
5 years$31,419$29,919$28,495$27,144$25,862$23,266
6 years$25,920$24,431$23,028$21,707$20,463$17,979
7 years$21,994$20,517$19,137$17,847$16,642$14,269
8 years$19,050$17,587$16,229$14,971$13,806$11,544
9 years$16,762$15,313$13,978$12,752$11,627$9,474
10 years$14,932$13,497$12,187$10,992$9,907$7,862
11 years$13,437$12,016$10,729$9,567$8,520$6,580
12 years$12,191$10,785$9,522$8,391$7,383$5,546
13 years$11,138$9,746$8,507$7,408$6,438$4,701
14 years$10,236$8,859$7,644$6,576$5,644$4,003
15 years$9,455$8,093$6,901$5,865$4,969$3,422
16 years$8,772$7,425$6,257$5,251$4,392$2,935
17 years$8,170$6,838$5,693$4,718$3,894$2,524
18 years$7,636$6,319$5,197$4,252$3,463$2,175
19 years$7,159$5,856$4,758$3,842$3,086$1,878
20 years$6,729$5,442$4,367$3,480$2,757$1,625
21 years$6,342$5,069$4,016$3,158$2,467$1,407
22 years$5,989$4,732$3,702$2,871$2,211$1,220
23 years$5,668$4,425$3,418$2,615$1,985$1,059
24 years$5,375$4,146$3,161$2,385$1,784$921
25 years$5,105$3,891$2,928$2,178$1,605$801
26 years$4,856$3,657$2,715$1,992$1,446$697
27 years$4,626$3,442$2,521$1,823$1,304$607
28 years$4,413$3,243$2,344$1,670$1,176$528
29 years$4,215$3,059$2,181$1,532$1,062$461
30 years$4,030$2,889$2,032$1,406$960$402
31 years$3,858$2,731$1,894$1,291$868$350
32 years$3,697$2,584$1,767$1,186$785$306
33 years$3,546$2,448$1,650$1,091$710$267
34 years$3,404$2,320$1,542$1,004$643$233
35 years$3,270$2,200$1,441$924$583$203
36 years$3,145$2,088$1,348$851$528$177
37 years$3,026$1,983$1,262$784$478$155
38 years$2,914$1,885$1,182$723$434$135
39 years$2,808$1,792$1,107$666$393$118
40 years$2,707$1,705$1,038$615$357$103
41 years$2,612$1,623$973$567$324$90
42 years$2,521$1,546$913$523$294$79
43 years$2,435$1,473$857$483$267$69
44 years$2,353$1,404$804$446$242$60
45 years$2,274$1,339$755$412$220$53
46 years$2,200$1,277$709$381$199$46
47 years$2,129$1,219$666$352$181$40
48 years$2,060$1,164$626$325$164$35
49 years$1,995$1,111$588$300$149$31
50 years$1,933$1,061$553$278$136$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,980,000, adding $2,087 every year, while hoping to spend $50,797 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: 61/22/17 Blend
65$1,980,000$1,980,000$1,980,000$1,980,000
66$2,184,113$2,079,173$2,048,483$2,307,775
67$2,352,845$2,127,005$2,063,059$2,439,222
68$2,537,085$2,175,478$2,076,422$2,576,740
69$2,738,361$2,224,570$2,088,476$2,725,627
70$2,958,356$2,274,256$2,099,122$2,886,992
71$3,198,922$2,324,508$2,108,256$3,062,055
72$3,462,099$2,375,296$2,115,769$3,252,160
73$3,750,131$2,426,584$2,121,546$3,458,788
74$4,065,492$2,478,334$2,125,465$3,683,573
75$4,410,905$2,530,505$2,127,401$3,928,313
76$4,789,368$2,583,050$2,127,219$4,194,989
77$5,204,183$2,635,919$2,124,781$4,485,786
78$5,658,988$2,689,057$2,119,939$4,803,111
79$6,157,788$2,742,405$2,112,541$5,149,614
80$6,704,996$2,795,896$2,102,424$5,528,220
81$7,305,471$2,849,460$2,089,421$5,942,149
82$7,964,566$2,903,021$2,073,354$6,394,950
83$8,688,178$2,956,495$2,054,037$6,890,537
84$9,482,802$3,009,794$2,031,277$7,433,221
85$10,355,594$3,062,819$2,004,871$8,027,753
86$11,314,435$3,115,467$1,974,604$8,679,372
87$12,368,008$3,167,626$1,940,254$9,393,849
88$13,525,880$3,219,175$1,901,588$10,177,546
89$14,798,590$3,269,985$1,858,362$11,037,475
90$16,197,748$3,319,916$1,810,318$11,981,364
91$17,736,145$3,368,819$1,757,191$13,017,731
92$19,427,876$3,416,535$1,698,701$14,155,963
93$21,288,466$3,462,892$1,634,554$15,406,408
94$23,335,023$3,507,707$1,564,445$16,780,469
95$25,586,395$3,550,785$1,488,054$18,290,716
96$28,063,351$3,591,916$1,405,047$19,951,003
97$30,788,771$3,630,878$1,315,074$21,776,598
98$33,787,866$3,667,432$1,217,770$23,784,330
99$37,088,417$3,701,325$1,112,754$25,992,748
100$40,721,031$3,732,285$999,627$28,422,294