Can I retire at age 66 with 1,990,000?

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 $1,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$164,332$162,869$161,440$160,046$158,685$155,672
2 years$81,353$79,838$78,369$76,945$75,564$72,541
3 years$53,696$52,175$50,710$49,300$47,941$45,001
4 years$39,871$38,354$36,904$35,518$34,192$31,358
5 years$31,578$30,070$28,639$27,281$25,992$23,272
6 years$26,051$24,554$23,145$21,817$20,567$17,964
7 years$22,105$20,621$19,233$17,937$16,726$14,241
8 years$19,146$17,676$16,311$15,047$13,876$11,508
9 years$16,847$15,390$14,049$12,816$11,686$9,434
10 years$15,008$13,565$12,248$11,048$9,957$7,818
11 years$13,504$12,077$10,783$9,615$8,563$6,536
12 years$12,253$10,839$9,570$8,434$7,421$5,502
13 years$11,194$9,796$8,550$7,446$6,471$4,657
14 years$10,288$8,904$7,682$6,609$5,672$3,960
15 years$9,503$8,134$6,936$5,894$4,994$3,381
16 years$8,816$7,463$6,288$5,278$4,414$2,895
17 years$8,212$6,873$5,722$4,742$3,914$2,486
18 years$7,675$6,351$5,224$4,274$3,480$2,139
19 years$7,195$5,886$4,782$3,862$3,102$1,845
20 years$6,763$5,469$4,389$3,497$2,771$1,593
21 years$6,374$5,095$4,037$3,174$2,479$1,378
22 years$6,020$4,756$3,720$2,886$2,222$1,193
23 years$5,697$4,448$3,435$2,628$1,995$1,034
24 years$5,402$4,167$3,177$2,397$1,793$897
25 years$5,131$3,911$2,943$2,189$1,614$779
26 years$4,881$3,676$2,729$2,002$1,453$677
27 years$4,649$3,459$2,534$1,832$1,310$588
28 years$4,435$3,259$2,356$1,679$1,182$512
29 years$4,236$3,075$2,192$1,539$1,068$445
30 years$4,051$2,904$2,042$1,413$965$388
31 years$3,878$2,745$1,904$1,298$872$337
32 years$3,716$2,598$1,776$1,192$789$294
33 years$3,564$2,460$1,658$1,097$714$256
34 years$3,421$2,331$1,550$1,009$646$223
35 years$3,287$2,211$1,449$929$586$194
36 years$3,161$2,099$1,355$855$530$169
37 years$3,041$1,993$1,269$788$481$148
38 years$2,928$1,894$1,188$726$436$129
39 years$2,822$1,801$1,113$670$395$112
40 years$2,721$1,714$1,043$618$359$98
41 years$2,625$1,632$978$570$325$85
42 years$2,534$1,554$918$526$295$75
43 years$2,447$1,480$861$486$268$65
44 years$2,364$1,411$808$448$243$57
45 years$2,286$1,346$759$414$221$49
46 years$2,211$1,284$713$382$200$43
47 years$2,139$1,225$670$353$182$38
48 years$2,071$1,170$629$327$165$33
49 years$2,006$1,117$591$302$150$29
50 years$1,943$1,067$556$279$136$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,990,000, adding $5,177 every year, while hoping to spend $36,169 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: 42/39/19 Blend
65$1,990,000$1,990,000$1,990,000$1,990,000
66$2,198,320$2,092,850$2,062,005$2,278,217
67$2,384,065$2,156,916$2,092,599$2,399,399
68$2,587,544$2,222,909$2,123,005$2,526,629
69$2,810,527$2,290,886$2,153,179$2,663,655
70$3,054,965$2,360,903$2,183,075$2,811,394
71$3,323,005$2,433,021$2,212,642$2,970,855
72$3,617,013$2,507,300$2,241,826$3,143,146
73$3,939,594$2,583,804$2,270,573$3,329,489
74$4,293,618$2,662,595$2,298,823$3,531,227
75$4,682,246$2,743,742$2,326,513$3,749,838
76$5,108,961$2,827,311$2,353,577$3,986,948
77$5,577,599$2,913,373$2,379,945$4,244,348
78$6,092,384$3,001,998$2,405,543$4,524,009
79$6,657,972$3,093,261$2,430,294$4,828,099
80$7,279,492$3,187,237$2,454,115$5,159,007
81$7,962,592$3,284,004$2,476,920$5,519,364
82$8,713,497$3,383,641$2,498,618$5,912,063
83$9,539,064$3,486,230$2,519,112$6,340,295
84$10,446,848$3,591,854$2,538,301$6,807,570
85$11,445,172$3,700,601$2,556,080$7,317,755
86$12,543,206$3,812,557$2,572,336$7,875,109
87$13,751,055$3,927,814$2,586,951$8,484,321
88$15,079,851$4,046,465$2,599,801$9,150,560
89$16,541,858$4,168,604$2,610,757$9,879,514
90$18,150,592$4,294,330$2,619,682$10,677,452
91$19,920,942$4,423,742$2,626,431$11,551,280
92$21,869,317$4,556,944$2,630,855$12,508,603
93$24,013,794$4,694,041$2,632,795$13,557,801
94$26,374,292$4,835,140$2,632,085$14,708,105
95$28,972,761$4,980,353$2,628,551$15,969,685
96$31,833,384$5,129,792$2,622,009$17,353,746
97$34,982,811$5,283,574$2,612,269$18,872,631
98$38,450,406$5,441,817$2,599,128$20,539,942
99$42,268,526$5,604,644$2,582,376$22,370,661
100$46,472,823$5,772,179$2,561,793$24,381,300