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

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$160,203$158,776$157,384$156,025$154,698$150,349
2 years$79,309$77,832$76,400$75,012$73,666$69,317
3 years$52,347$50,864$49,436$48,061$46,737$42,525
4 years$38,869$37,390$35,977$34,625$33,333$29,290
5 years$30,784$29,314$27,919$26,596$25,339$21,477
6 years$25,396$23,937$22,563$21,269$20,050$16,371
7 years$21,549$20,103$18,750$17,486$16,306$12,811
8 years$18,665$17,232$15,901$14,669$13,527$10,215
9 years$16,423$15,003$13,696$12,494$11,392$8,258
10 years$14,631$13,225$11,940$10,770$9,707$6,747
11 years$13,165$11,773$10,512$9,373$8,348$5,558
12 years$11,945$10,567$9,329$8,222$7,234$4,609
13 years$10,913$9,549$8,335$7,259$6,308$3,842
14 years$10,029$8,680$7,489$6,443$5,530$3,216
15 years$9,264$7,929$6,762$5,746$4,869$2,702
16 years$8,595$7,275$6,130$5,145$4,303$2,276
17 years$8,005$6,700$5,578$4,623$3,816$1,922
18 years$7,482$6,191$5,092$4,166$3,393$1,627
19 years$7,014$5,738$4,662$3,765$3,024$1,379
20 years$6,593$5,332$4,278$3,409$2,701$1,170
21 years$6,213$4,967$3,935$3,094$2,417$994
22 years$5,868$4,636$3,627$2,813$2,167$846
23 years$5,554$4,336$3,349$2,562$1,945$720
24 years$5,266$4,063$3,097$2,337$1,748$613
25 years$5,002$3,813$2,869$2,134$1,573$523
26 years$4,758$3,583$2,660$1,951$1,417$446
27 years$4,533$3,372$2,470$1,786$1,277$381
28 years$4,324$3,178$2,297$1,637$1,153$325
29 years$4,130$2,998$2,137$1,501$1,041$277
30 years$3,949$2,831$1,991$1,377$940$237
31 years$3,780$2,676$1,856$1,265$850$202
32 years$3,622$2,532$1,732$1,163$769$173
33 years$3,474$2,398$1,617$1,069$696$148
34 years$3,335$2,273$1,511$984$630$126
35 years$3,204$2,156$1,412$905$571$108
36 years$3,081$2,046$1,321$834$517$92
37 years$2,965$1,943$1,237$768$469$79
38 years$2,855$1,847$1,158$708$425$67
39 years$2,751$1,756$1,085$653$385$58
40 years$2,652$1,671$1,017$602$350$49
41 years$2,559$1,591$954$556$317$42
42 years$2,470$1,515$894$513$288$36
43 years$2,385$1,443$839$473$261$31
44 years$2,305$1,376$788$437$237$26
45 years$2,228$1,312$740$404$215$23
46 years$2,155$1,251$695$373$195$19
47 years$2,086$1,194$653$345$177$17
48 years$2,019$1,140$613$318$161$14
49 years$1,955$1,089$577$294$146$12
50 years$1,894$1,040$542$272$133$10

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 $6,906 every year, while hoping to spend $41,776 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: 52/43/5 Blend
66$1,940,000$1,940,000$1,940,000$1,940,000
67$2,145,004$2,042,184$2,012,114$2,253,777
68$2,319,345$2,097,801$2,035,070$2,383,863
69$2,510,068$2,154,744$2,057,395$2,520,100
70$2,718,801$2,213,033$2,079,024$2,667,232
71$2,947,336$2,272,688$2,099,888$2,826,291
72$3,197,644$2,333,729$2,119,914$2,998,413
73$3,471,898$2,396,177$2,139,026$3,184,848
74$3,772,491$2,460,049$2,157,143$3,386,971
75$4,102,059$2,525,365$2,174,181$3,606,296
76$4,463,502$2,592,141$2,190,049$3,844,490
77$4,860,019$2,660,395$2,204,655$4,103,388
78$5,295,129$2,730,143$2,217,899$4,385,009
79$5,772,711$2,801,398$2,229,678$4,691,578
80$6,297,037$2,874,176$2,239,881$5,025,542
81$6,872,812$2,948,489$2,248,395$5,389,598
82$7,505,222$3,024,348$2,255,099$5,786,717
83$8,199,975$3,101,762$2,259,866$6,220,168
84$8,963,364$3,180,740$2,262,563$6,693,553
85$9,802,319$3,261,288$2,263,051$7,210,840
86$10,724,476$3,343,410$2,261,182$7,776,399
87$11,738,245$3,427,110$2,256,805$8,395,043
88$12,852,894$3,512,387$2,249,756$9,072,075
89$14,078,635$3,599,239$2,239,868$9,813,336
90$15,426,715$3,687,662$2,226,963$10,625,261
91$16,909,529$3,777,646$2,210,856$11,514,940
92$18,540,734$3,869,183$2,191,352$12,490,184
93$20,335,373$3,962,258$2,168,247$13,559,596
94$22,310,026$4,056,853$2,141,328$14,732,660
95$24,482,957$4,152,947$2,110,371$16,019,819
96$26,874,292$4,250,515$2,075,142$17,432,585
97$29,506,207$4,349,528$2,035,396$18,983,638
98$32,403,135$4,449,950$1,990,877$20,686,951
99$35,592,000$4,551,742$1,941,317$22,557,922
100$39,102,467$4,654,861$1,886,434$24,613,515