Can I retire at age 67 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$132,127$130,950$129,801$128,681$127,586$125,888
2 years$65,409$64,191$63,010$61,866$60,755$59,047
3 years$43,173$41,950$40,772$39,638$38,546$36,880
4 years$32,057$30,837$29,671$28,557$27,491$25,882
5 years$25,389$24,177$23,026$21,934$20,898$19,349
6 years$20,945$19,742$18,609$17,541$16,536$15,050
7 years$17,773$16,579$15,464$14,422$13,448$12,025
8 years$15,394$14,212$13,115$12,098$11,157$9,796
9 years$13,545$12,374$11,296$10,305$9,396$8,097
10 years$12,067$10,907$9,848$8,883$8,005$6,768
11 years$10,858$9,710$8,670$7,731$6,885$5,708
12 years$9,851$8,715$7,694$6,781$5,966$4,848
13 years$9,000$7,876$6,874$5,986$5,203$4,142
14 years$8,271$7,159$6,177$5,314$4,561$3,556
15 years$7,640$6,540$5,577$4,739$4,016$3,065
16 years$7,089$6,000$5,056$4,243$3,549$2,650
17 years$6,602$5,526$4,601$3,813$3,147$2,298
18 years$6,171$5,106$4,200$3,436$2,798$1,998
19 years$5,785$4,732$3,845$3,105$2,494$1,741
20 years$5,438$4,398$3,529$2,812$2,228$1,519
21 years$5,124$4,096$3,246$2,552$1,993$1,328
22 years$4,840$3,824$2,991$2,320$1,787$1,162
23 years$4,581$3,576$2,762$2,113$1,604$1,018
24 years$4,343$3,351$2,554$1,927$1,442$893
25 years$4,125$3,144$2,366$1,760$1,297$784
26 years$3,924$2,955$2,194$1,609$1,169$689
27 years$3,738$2,781$2,038$1,473$1,054$606
28 years$3,566$2,621$1,894$1,350$951$533
29 years$3,406$2,472$1,763$1,238$858$469
30 years$3,257$2,335$1,642$1,136$776$413
31 years$3,118$2,207$1,531$1,043$701$364
32 years$2,987$2,088$1,428$959$634$320
33 years$2,865$1,978$1,333$882$574$282
34 years$2,751$1,875$1,246$811$520$249
35 years$2,643$1,778$1,165$747$471$220
36 years$2,541$1,688$1,090$688$427$194
37 years$2,445$1,603$1,020$634$387$171
38 years$2,355$1,523$955$584$350$151
39 years$2,269$1,448$895$539$318$133
40 years$2,187$1,378$839$497$288$117
41 years$2,110$1,312$786$458$262$104
42 years$2,037$1,249$738$423$237$91
43 years$1,967$1,190$692$390$215$81
44 years$1,901$1,135$650$361$195$71
45 years$1,838$1,082$610$333$177$63
46 years$1,778$1,032$573$308$161$56
47 years$1,720$985$538$284$146$49
48 years$1,665$940$506$263$133$43
49 years$1,612$898$476$243$121$38
50 years$1,562$858$447$224$110$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $1,600,000, adding $5,618 every year, while hoping to spend $26,003 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: 72/8/20 Blend
66$1,600,000$1,600,000$1,600,000$1,600,000
67$1,768,995$1,684,195$1,659,395$1,887,439
68$1,921,765$1,739,054$1,687,318$2,021,841
69$2,089,247$1,795,729$1,715,304$2,165,342
70$2,272,913$1,854,282$1,743,330$2,321,852
71$2,474,385$1,914,777$1,771,366$2,492,658
72$2,695,451$1,977,280$1,799,386$2,679,178
73$2,938,079$2,041,859$1,827,357$2,882,973
74$3,204,438$2,108,584$1,855,248$3,105,763
75$3,496,915$2,177,530$1,883,024$3,349,441
76$3,818,142$2,248,770$1,910,647$3,616,095
77$4,171,018$2,322,385$1,938,079$3,908,022
78$4,558,735$2,398,455$1,965,277$4,227,755
79$4,984,810$2,477,063$1,992,198$4,578,081
80$5,453,119$2,558,298$2,018,796$4,962,075
81$5,967,931$2,642,249$2,045,019$5,383,119
82$6,533,950$2,729,009$2,070,817$5,844,944
83$7,156,358$2,818,675$2,096,134$6,351,658
84$7,840,863$2,911,347$2,120,911$6,907,787
85$8,593,756$3,007,128$2,145,087$7,518,318
86$9,421,968$3,106,126$2,168,596$8,188,746
87$10,333,134$3,208,452$2,191,370$8,925,124
88$11,335,669$3,314,220$2,213,336$9,734,123
89$12,438,841$3,423,551$2,234,416$10,623,093
90$13,652,865$3,536,568$2,254,532$11,600,131
91$14,988,996$3,653,398$2,273,597$12,674,161
92$16,459,633$3,774,174$2,291,522$13,855,013
93$18,078,441$3,899,034$2,308,213$15,153,523
94$19,860,475$4,028,119$2,323,571$16,581,626
95$21,822,324$4,161,578$2,337,492$18,152,477
96$23,982,268$4,299,562$2,349,865$19,880,570
97$26,360,450$4,442,231$2,360,576$21,781,875
98$28,979,064$4,589,749$2,369,503$23,873,994
99$31,862,567$4,742,285$2,376,520$26,176,317
100$35,037,908$4,900,016$2,381,493$28,710,216