Can I retire at age 66 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%14.7%
1 years$160,203$158,776$157,384$156,025$154,698$151,699
2 years$79,309$77,832$76,400$75,012$73,666$70,656
3 years$52,347$50,864$49,436$48,061$46,737$43,811
4 years$38,869$37,390$35,977$34,625$33,333$30,513
5 years$30,784$29,314$27,919$26,596$25,339$22,633
6 years$25,396$23,937$22,563$21,269$20,050$17,461
7 years$21,549$20,103$18,750$17,486$16,306$13,835
8 years$18,665$17,232$15,901$14,669$13,527$11,174
9 years$16,423$15,003$13,696$12,494$11,392$9,154
10 years$14,631$13,225$11,940$10,770$9,707$7,582
11 years$13,165$11,773$10,512$9,373$8,348$6,334
12 years$11,945$10,567$9,329$8,222$7,234$5,328
13 years$10,913$9,549$8,335$7,259$6,308$4,507
14 years$10,029$8,680$7,489$6,443$5,530$3,831
15 years$9,264$7,929$6,762$5,746$4,869$3,268
16 years$8,595$7,275$6,130$5,145$4,303$2,796
17 years$8,005$6,700$5,578$4,623$3,816$2,399
18 years$7,482$6,191$5,092$4,166$3,393$2,063
19 years$7,014$5,738$4,662$3,765$3,024$1,778
20 years$6,593$5,332$4,278$3,409$2,701$1,534
21 years$6,213$4,967$3,935$3,094$2,417$1,326
22 years$5,868$4,636$3,627$2,813$2,167$1,147
23 years$5,554$4,336$3,349$2,562$1,945$994
24 years$5,266$4,063$3,097$2,337$1,748$861
25 years$5,002$3,813$2,869$2,134$1,573$747
26 years$4,758$3,583$2,660$1,951$1,417$649
27 years$4,533$3,372$2,470$1,786$1,277$564
28 years$4,324$3,178$2,297$1,637$1,153$490
29 years$4,130$2,998$2,137$1,501$1,041$426
30 years$3,949$2,831$1,991$1,377$940$370
31 years$3,780$2,676$1,856$1,265$850$322
32 years$3,622$2,532$1,732$1,163$769$280
33 years$3,474$2,398$1,617$1,069$696$244
34 years$3,335$2,273$1,511$984$630$212
35 years$3,204$2,156$1,412$905$571$185
36 years$3,081$2,046$1,321$834$517$161
37 years$2,965$1,943$1,237$768$469$140
38 years$2,855$1,847$1,158$708$425$122
39 years$2,751$1,756$1,085$653$385$107
40 years$2,652$1,671$1,017$602$350$93
41 years$2,559$1,591$954$556$317$81
42 years$2,470$1,515$894$513$288$70
43 years$2,385$1,443$839$473$261$61
44 years$2,305$1,376$788$437$237$54
45 years$2,228$1,312$740$404$215$47
46 years$2,155$1,251$695$373$195$41
47 years$2,086$1,194$653$345$177$35
48 years$2,019$1,140$613$318$161$31
49 years$1,955$1,089$577$294$146$27
50 years$1,894$1,040$542$272$133$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,940,000, adding $3,013 every year, while hoping to spend $47,086 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: 68/25/7 Blend
65$1,940,000$1,940,000$1,940,000$1,940,000
66$2,140,988$2,038,168$2,008,098$2,283,895
67$2,309,270$2,087,939$2,025,270$2,428,760
68$2,493,138$2,138,571$2,041,439$2,581,124
69$2,694,133$2,190,056$2,056,522$2,746,472
70$2,913,950$2,242,384$2,070,432$2,926,064
71$3,154,457$2,295,545$2,083,075$3,121,292
72$3,417,709$2,349,524$2,094,355$3,333,684
73$3,705,969$2,404,305$2,104,171$3,564,927
74$4,021,732$2,459,869$2,112,414$3,816,874
75$4,367,741$2,516,195$2,118,972$4,091,570
76$4,747,021$2,573,259$2,123,728$4,391,266
77$5,162,901$2,631,033$2,126,557$4,718,441
78$5,619,049$2,689,486$2,127,329$5,075,826
79$6,119,504$2,748,583$2,125,906$5,466,429
80$6,668,716$2,808,286$2,122,147$5,893,563
81$7,271,586$2,868,553$2,115,900$6,360,881
82$7,933,512$2,929,336$2,107,007$6,872,404
83$8,660,442$2,990,586$2,095,303$7,432,563
84$9,458,927$3,052,244$2,080,616$8,046,241
85$10,336,184$3,114,250$2,062,762$8,718,816
86$11,300,162$3,176,536$2,041,553$9,456,214
87$12,359,622$3,239,029$2,016,788$10,264,967
88$13,524,212$3,301,651$1,988,259$11,152,269
89$14,804,563$3,364,313$1,955,748$12,126,049
90$16,212,388$3,426,924$1,919,025$13,195,042
91$17,760,591$3,489,382$1,877,851$14,368,874
92$19,463,388$3,551,579$1,831,976$15,658,154
93$21,336,444$3,613,397$1,781,138$17,074,568
94$23,397,017$3,674,709$1,725,061$18,630,998
95$25,664,123$3,735,380$1,663,461$20,341,637
96$28,158,712$3,795,262$1,596,036$22,222,125
97$30,903,871$3,854,200$1,522,472$24,289,697
98$33,925,034$3,912,024$1,442,444$26,563,346
99$37,250,228$3,968,554$1,355,606$29,064,003
100$40,910,335$4,023,596$1,261,602$31,814,732