Can I retire at age 66 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$162,681$161,232$159,818$158,438$157,091$155,709
2 years$80,535$79,035$77,582$76,172$74,805$73,413
3 years$53,157$51,650$50,200$48,804$47,459$46,100
4 years$39,470$37,968$36,533$35,161$33,848$32,532
5 years$31,260$29,768$28,351$27,007$25,731$24,462
6 years$25,789$24,308$22,912$21,598$20,360$19,139
7 years$21,883$20,413$19,040$17,757$16,558$15,386
8 years$18,954$17,498$16,147$14,896$13,737$12,613
9 years$16,677$15,235$13,908$12,688$11,568$10,494
10 years$14,857$13,429$12,125$10,937$9,857$8,830
11 years$13,369$11,955$10,675$9,518$8,477$7,498
12 years$12,129$10,730$9,474$8,349$7,346$6,413
13 years$11,082$9,697$8,464$7,371$6,406$5,518
14 years$10,184$8,814$7,605$6,543$5,615$4,772
15 years$9,407$8,052$6,866$5,835$4,944$4,143
16 years$8,728$7,388$6,225$5,225$4,370$3,610
17 years$8,129$6,804$5,665$4,694$3,875$3,155
18 years$7,598$6,287$5,171$4,231$3,445$2,765
19 years$7,122$5,827$4,734$3,823$3,071$2,428
20 years$6,695$5,414$4,345$3,462$2,743$2,136
21 years$6,310$5,043$3,996$3,142$2,454$1,883
22 years$5,959$4,708$3,683$2,857$2,200$1,661
23 years$5,640$4,403$3,401$2,602$1,975$1,468
24 years$5,347$4,125$3,145$2,373$1,775$1,299
25 years$5,079$3,871$2,913$2,167$1,597$1,150
26 years$4,831$3,639$2,702$1,982$1,439$1,019
27 years$4,603$3,424$2,509$1,814$1,297$904
28 years$4,391$3,227$2,332$1,662$1,170$802
29 years$4,194$3,044$2,170$1,524$1,057$712
30 years$4,010$2,875$2,022$1,399$955$633
31 years$3,839$2,718$1,885$1,285$863$562
32 years$3,678$2,571$1,758$1,180$781$500
33 years$3,528$2,435$1,642$1,086$707$445
34 years$3,387$2,308$1,534$999$640$396
35 years$3,254$2,189$1,434$919$580$352
36 years$3,129$2,078$1,342$847$525$314
37 years$3,011$1,973$1,256$780$476$279
38 years$2,899$1,875$1,176$719$432$249
39 years$2,793$1,783$1,102$663$391$222
40 years$2,693$1,697$1,033$612$355$197
41 years$2,598$1,615$968$564$322$176
42 years$2,508$1,538$908$521$292$157
43 years$2,422$1,466$852$481$265$140
44 years$2,341$1,397$800$444$241$125
45 years$2,263$1,332$751$410$219$111
46 years$2,189$1,271$706$379$198$99
47 years$2,118$1,213$663$350$180$88
48 years$2,050$1,158$623$323$164$79
49 years$1,985$1,106$586$299$149$70
50 years$1,923$1,056$550$276$135$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,970,000, adding $6,240 every year, while hoping to spend $38,963 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: 43/45/12 Blend
65$1,970,000$1,970,000$1,970,000$1,970,000
66$2,177,377$2,072,967$2,042,432$2,263,168
67$2,358,013$2,133,086$2,069,397$2,383,837
68$2,555,768$2,194,845$2,095,959$2,510,084
69$2,772,347$2,258,283$2,122,065$2,645,990
70$3,009,628$2,323,440$2,147,655$2,792,456
71$3,269,678$2,390,357$2,172,670$2,950,474
72$3,554,775$2,459,074$2,197,044$3,121,134
73$3,867,426$2,529,633$2,220,710$3,305,637
74$4,210,396$2,602,077$2,243,596$3,505,301
75$4,586,726$2,676,449$2,265,625$3,721,582
76$4,999,767$2,752,790$2,286,720$3,956,076
77$5,453,213$2,831,146$2,306,794$4,210,544
78$5,951,130$2,911,561$2,325,761$4,486,923
79$6,497,997$2,994,080$2,343,525$4,787,346
80$7,098,750$3,078,747$2,359,991$5,114,161
81$7,758,825$3,165,609$2,375,053$5,469,952
82$8,484,212$3,254,710$2,388,605$5,857,566
83$9,281,510$3,346,099$2,400,531$6,280,138
84$10,157,986$3,439,820$2,410,711$6,741,119
85$11,121,651$3,535,922$2,419,020$7,244,311
86$12,181,328$3,634,450$2,425,325$7,793,901
87$13,346,737$3,735,452$2,429,488$8,394,501
88$14,628,590$3,838,975$2,431,361$9,051,190
89$16,038,687$3,945,066$2,430,793$9,769,563
90$17,590,031$4,053,772$2,427,622$10,555,785
91$19,296,947$4,165,139$2,421,680$11,416,644
92$21,175,219$4,279,214$2,412,790$12,359,621
93$23,242,239$4,396,044$2,400,766$13,392,956
94$25,517,171$4,515,673$2,385,415$14,525,727
95$28,021,129$4,638,148$2,366,533$15,767,936
96$30,777,378$4,763,511$2,343,906$17,130,601
97$33,811,555$4,891,807$2,317,311$18,625,865
98$37,151,906$5,023,079$2,286,514$20,267,103
99$40,829,558$5,157,368$2,251,270$22,069,054
100$44,878,808$5,294,713$2,211,322$24,047,957