Can I retire at age 67 with 1,940,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$160,203$158,776$157,384$156,025$154,698$152,512
2 years$79,309$77,832$76,400$75,012$73,666$71,468
3 years$52,347$50,864$49,436$48,061$46,737$44,595
4 years$38,869$37,390$35,977$34,625$33,333$31,264
5 years$30,784$29,314$27,919$26,596$25,339$23,349
6 years$25,396$23,937$22,563$21,269$20,050$18,141
7 years$21,549$20,103$18,750$17,486$16,306$14,478
8 years$18,665$17,232$15,901$14,669$13,527$11,781
9 years$16,423$15,003$13,696$12,494$11,392$9,727
10 years$14,631$13,225$11,940$10,770$9,707$8,121
11 years$13,165$11,773$10,512$9,373$8,348$6,840
12 years$11,945$10,567$9,329$8,222$7,234$5,802
13 years$10,913$9,549$8,335$7,259$6,308$4,950
14 years$10,029$8,680$7,489$6,443$5,530$4,244
15 years$9,264$7,929$6,762$5,746$4,869$3,653
16 years$8,595$7,275$6,130$5,145$4,303$3,155
17 years$8,005$6,700$5,578$4,623$3,816$2,732
18 years$7,482$6,191$5,092$4,166$3,393$2,372
19 years$7,014$5,738$4,662$3,765$3,024$2,063
20 years$6,593$5,332$4,278$3,409$2,701$1,798
21 years$6,213$4,967$3,935$3,094$2,417$1,569
22 years$5,868$4,636$3,627$2,813$2,167$1,371
23 years$5,554$4,336$3,349$2,562$1,945$1,200
24 years$5,266$4,063$3,097$2,337$1,748$1,051
25 years$5,002$3,813$2,869$2,134$1,573$921
26 years$4,758$3,583$2,660$1,951$1,417$808
27 years$4,533$3,372$2,470$1,786$1,277$709
28 years$4,324$3,178$2,297$1,637$1,153$623
29 years$4,130$2,998$2,137$1,501$1,041$547
30 years$3,949$2,831$1,991$1,377$940$481
31 years$3,780$2,676$1,856$1,265$850$423
32 years$3,622$2,532$1,732$1,163$769$372
33 years$3,474$2,398$1,617$1,069$696$327
34 years$3,335$2,273$1,511$984$630$288
35 years$3,204$2,156$1,412$905$571$254
36 years$3,081$2,046$1,321$834$517$223
37 years$2,965$1,943$1,237$768$469$197
38 years$2,855$1,847$1,158$708$425$173
39 years$2,751$1,756$1,085$653$385$153
40 years$2,652$1,671$1,017$602$350$135
41 years$2,559$1,591$954$556$317$119
42 years$2,470$1,515$894$513$288$104
43 years$2,385$1,443$839$473$261$92
44 years$2,305$1,376$788$437$237$81
45 years$2,228$1,312$740$404$215$72
46 years$2,155$1,251$695$373$195$63
47 years$2,086$1,194$653$345$177$56
48 years$2,019$1,140$613$318$161$49
49 years$1,955$1,089$577$294$146$43
50 years$1,894$1,040$542$272$133$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $1,940,000, adding $2,614 every year, while hoping to spend $40,902 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: 52/33/15 Blend
66$1,940,000$1,940,000$1,940,000$1,940,000
67$2,140,576$2,037,756$2,007,686$2,243,087
68$2,315,396$2,094,087$2,031,424$2,369,877
69$2,506,676$2,151,807$2,054,587$2,503,161
70$2,716,052$2,210,941$2,077,111$2,647,210
71$2,945,327$2,271,514$2,098,932$2,803,053
72$3,196,483$2,333,551$2,119,978$2,971,825
73$3,471,705$2,397,076$2,140,178$3,154,775
74$3,773,398$2,462,112$2,159,454$3,353,278
75$4,104,214$2,528,685$2,177,724$3,568,849
76$4,467,069$2,596,815$2,194,903$3,803,154
77$4,865,178$2,666,528$2,210,901$4,058,029
78$5,302,083$2,737,844$2,225,623$4,335,497
79$5,781,682$2,810,785$2,238,968$4,637,785
80$6,308,272$2,885,372$2,250,832$4,967,344
81$6,886,586$2,961,625$2,261,104$5,326,877
82$7,521,835$3,039,563$2,269,670$5,719,361
83$8,219,764$3,119,203$2,276,405$6,148,073
84$8,986,699$3,200,563$2,281,184$6,616,624
85$9,829,610$3,283,658$2,283,871$7,128,994
86$10,756,175$3,368,502$2,284,325$7,689,566
87$11,774,854$3,455,108$2,282,399$8,303,170
88$12,894,967$3,543,486$2,277,937$8,975,125
89$14,126,782$3,633,646$2,270,777$9,711,294
90$15,481,613$3,725,594$2,260,748$10,518,137
91$16,971,925$3,819,335$2,247,670$11,402,769
92$18,611,451$3,914,872$2,231,356$12,373,034
93$20,415,323$4,012,205$2,211,611$13,437,571
94$22,400,213$4,111,330$2,188,227$14,605,903
95$24,584,492$4,212,242$2,160,989$15,888,520
96$26,988,400$4,314,932$2,129,672$17,296,984
97$29,634,240$4,419,386$2,094,039$18,844,034
98$32,546,585$4,525,589$2,053,843$20,543,707
99$35,752,514$4,633,520$2,008,824$22,411,474
100$39,281,863$4,743,155$1,958,711$24,464,381