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%18.6%
1 years$164,332$162,869$161,440$160,046$158,685$153,177
2 years$81,353$79,838$78,369$76,945$75,564$70,072
3 years$53,696$52,175$50,710$49,300$47,941$42,637
4 years$39,871$38,354$36,904$35,518$34,192$29,117
5 years$31,578$30,070$28,639$27,281$25,992$21,159
6 years$26,051$24,554$23,145$21,817$20,567$15,979
7 years$22,105$20,621$19,233$17,937$16,726$12,384
8 years$19,146$17,676$16,311$15,047$13,876$9,776
9 years$16,847$15,390$14,049$12,816$11,686$7,822
10 years$15,008$13,565$12,248$11,048$9,957$6,323
11 years$13,504$12,077$10,783$9,615$8,563$5,152
12 years$12,253$10,839$9,570$8,434$7,421$4,224
13 years$11,194$9,796$8,550$7,446$6,471$3,481
14 years$10,288$8,904$7,682$6,609$5,672$2,880
15 years$9,503$8,134$6,936$5,894$4,994$2,390
16 years$8,816$7,463$6,288$5,278$4,414$1,989
17 years$8,212$6,873$5,722$4,742$3,914$1,659
18 years$7,675$6,351$5,224$4,274$3,480$1,386
19 years$7,195$5,886$4,782$3,862$3,102$1,160
20 years$6,763$5,469$4,389$3,497$2,771$972
21 years$6,374$5,095$4,037$3,174$2,479$815
22 years$6,020$4,756$3,720$2,886$2,222$684
23 years$5,697$4,448$3,435$2,628$1,995$575
24 years$5,402$4,167$3,177$2,397$1,793$483
25 years$5,131$3,911$2,943$2,189$1,614$406
26 years$4,881$3,676$2,729$2,002$1,453$342
27 years$4,649$3,459$2,534$1,832$1,310$288
28 years$4,435$3,259$2,356$1,679$1,182$242
29 years$4,236$3,075$2,192$1,539$1,068$204
30 years$4,051$2,904$2,042$1,413$965$172
31 years$3,878$2,745$1,904$1,298$872$145
32 years$3,716$2,598$1,776$1,192$789$122
33 years$3,564$2,460$1,658$1,097$714$103
34 years$3,421$2,331$1,550$1,009$646$87
35 years$3,287$2,211$1,449$929$586$73
36 years$3,161$2,099$1,355$855$530$61
37 years$3,041$1,993$1,269$788$481$52
38 years$2,928$1,894$1,188$726$436$44
39 years$2,822$1,801$1,113$670$395$37
40 years$2,721$1,714$1,043$618$359$31
41 years$2,625$1,632$978$570$325$26
42 years$2,534$1,554$918$526$295$22
43 years$2,447$1,480$861$486$268$19
44 years$2,364$1,411$808$448$243$16
45 years$2,286$1,346$759$414$221$13
46 years$2,211$1,284$713$382$200$11
47 years$2,139$1,225$670$353$182$9
48 years$2,071$1,170$629$327$165$8
49 years$2,006$1,117$591$302$150$7
50 years$1,943$1,067$556$279$136$6

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 $5,483 every year, while hoping to spend $42,000 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: 53/22/25 Blend
65$1,990,000$1,990,000$1,990,000$1,990,000
66$2,198,636$2,093,166$2,062,321$2,299,634
67$2,378,209$2,151,043$2,086,721$2,427,863
68$2,574,691$2,210,349$2,110,531$2,562,561
69$2,789,762$2,271,109$2,133,686$2,708,287
70$3,025,273$2,333,348$2,156,119$2,866,109
71$3,283,260$2,397,092$2,177,759$3,037,205
72$3,565,969$2,462,366$2,198,531$3,222,871
73$3,875,871$2,529,194$2,218,354$3,424,537
74$4,215,687$2,597,602$2,237,146$3,643,776
75$4,588,415$2,667,613$2,254,819$3,882,323
76$4,997,357$2,739,250$2,271,279$4,142,088
77$5,446,151$2,812,536$2,286,430$4,425,174
78$5,938,802$2,887,494$2,300,169$4,733,901
79$6,479,723$2,964,145$2,312,388$5,070,823
80$7,073,776$3,042,509$2,322,975$5,438,755
81$7,726,316$3,122,607$2,331,809$5,840,799
82$8,443,242$3,204,456$2,338,766$6,280,373
83$9,231,053$3,288,075$2,343,715$6,761,242
84$10,096,908$3,373,478$2,346,517$7,287,556
85$11,048,696$3,460,682$2,347,029$7,863,889
86$12,095,106$3,549,698$2,345,097$8,495,280
87$13,245,712$3,640,539$2,340,564$9,187,281
88$14,511,063$3,733,213$2,333,260$9,946,014
89$15,902,780$3,827,729$2,323,013$10,778,222
90$17,433,666$3,924,091$2,309,637$11,691,338
91$19,117,831$4,022,301$2,292,940$12,693,553
92$20,970,816$4,122,361$2,272,721$13,793,892
93$23,009,750$4,224,268$2,248,767$15,002,305
94$25,253,503$4,328,015$2,220,859$16,329,753
95$27,722,866$4,433,593$2,188,764$17,788,320
96$30,440,749$4,540,990$2,152,238$19,391,321
97$33,432,397$4,650,190$2,111,029$21,153,430
98$36,725,623$4,761,171$2,064,870$23,090,818
99$40,351,076$4,873,908$2,013,484$25,221,311
100$44,342,529$4,988,372$1,956,578$27,564,549