Can I retire at age 65 with 2,420,000?

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 $2,420,000?

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$199,841$198,061$196,325$194,629$192,974$190,405
2 years$98,931$97,089$95,303$93,572$91,892$89,308
3 years$65,299$63,449$61,667$59,952$58,300$55,781
4 years$48,486$46,641$44,878$43,192$41,580$39,146
5 years$38,401$36,567$34,827$33,176$31,609$29,266
6 years$31,680$29,860$28,146$26,531$25,011$22,763
7 years$26,881$25,076$23,389$21,813$20,341$18,188
8 years$23,283$21,495$19,836$18,298$16,874$14,816
9 years$20,487$18,715$17,085$15,586$14,211$12,247
10 years$18,251$16,497$14,895$13,435$12,108$10,237
11 years$16,423$14,686$13,113$11,693$10,413$8,633
12 years$14,900$13,181$11,638$10,256$9,024$7,333
13 years$13,613$11,912$10,397$9,055$7,869$6,265
14 years$12,510$10,828$9,342$8,038$6,898$5,378
15 years$11,556$9,891$8,435$7,168$6,074$4,635
16 years$10,722$9,075$7,647$6,418$5,368$4,008
17 years$9,986$8,358$6,959$5,767$4,760$3,476
18 years$9,333$7,723$6,352$5,197$4,232$3,022
19 years$8,749$7,158$5,815$4,696$3,772$2,633
20 years$8,225$6,651$5,337$4,253$3,369$2,298
21 years$7,751$6,195$4,909$3,860$3,015$2,008
22 years$7,320$5,783$4,524$3,510$2,703$1,758
23 years$6,928$5,409$4,177$3,196$2,426$1,540
24 years$6,569$5,068$3,863$2,915$2,181$1,351
25 years$6,239$4,756$3,578$2,662$1,962$1,186
26 years$5,935$4,470$3,319$2,434$1,767$1,042
27 years$5,654$4,207$3,082$2,228$1,594$916
28 years$5,394$3,964$2,865$2,041$1,438$806
29 years$5,152$3,739$2,666$1,872$1,298$709
30 years$4,926$3,531$2,483$1,718$1,173$624
31 years$4,716$3,338$2,315$1,578$1,061$550
32 years$4,519$3,159$2,160$1,450$959$485
33 years$4,334$2,991$2,017$1,334$868$427
34 years$4,160$2,835$1,884$1,227$786$377
35 years$3,997$2,689$1,762$1,129$712$332
36 years$3,844$2,552$1,648$1,040$645$293
37 years$3,698$2,424$1,543$958$585$258
38 years$3,561$2,304$1,445$883$530$228
39 years$3,432$2,191$1,353$815$481$201
40 years$3,309$2,084$1,269$751$436$178
41 years$3,192$1,984$1,190$693$396$157
42 years$3,081$1,890$1,116$640$359$138
43 years$2,976$1,800$1,047$591$326$122
44 years$2,875$1,716$983$545$296$108
45 years$2,780$1,636$923$504$268$95
46 years$2,689$1,561$867$465$244$84
47 years$2,602$1,490$814$430$221$74
48 years$2,518$1,422$765$397$201$66
49 years$2,439$1,358$719$367$183$58
50 years$2,363$1,297$676$339$166$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $2,420,000, adding $4,126 every year, while hoping to spend $27,460 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: 53/21/26 Blend
64$2,420,000$2,420,000$2,420,000$2,420,000
65$2,671,096$2,542,836$2,505,326$2,793,137
66$2,914,331$2,638,218$2,560,037$2,973,359
67$3,181,455$2,737,353$2,615,661$3,166,228
68$3,474,876$2,840,396$2,672,199$3,375,565
69$3,797,247$2,947,509$2,729,651$3,602,954
70$4,151,490$3,058,861$2,788,018$3,850,141
71$4,540,824$3,174,627$2,847,299$4,119,043
72$4,968,796$3,294,991$2,907,490$4,411,771
73$5,439,311$3,420,144$2,968,590$4,730,650
74$5,956,676$3,550,286$3,030,593$5,078,235
75$6,525,633$3,685,626$3,093,493$5,457,342
76$7,151,406$3,826,381$3,157,284$5,871,068
77$7,839,753$3,972,777$3,221,957$6,322,824
78$8,597,018$4,125,053$3,287,502$6,816,364
79$9,430,187$4,283,454$3,353,907$7,355,820
80$10,346,963$4,448,240$3,421,160$7,945,745
81$11,355,829$4,619,680$3,489,245$8,591,149
82$12,466,134$4,798,055$3,558,145$9,297,549
83$13,688,179$4,983,658$3,627,841$10,071,022
84$15,033,313$5,176,797$3,698,314$10,918,258
85$16,514,042$5,377,791$3,769,538$11,846,625
86$18,144,146$5,586,975$3,841,490$12,864,240
87$19,938,810$5,804,697$3,914,140$13,980,041
88$21,914,764$6,031,323$3,987,459$15,203,870
89$24,090,444$6,267,232$4,061,414$16,546,572
90$26,486,166$6,512,823$4,135,968$18,020,089
91$29,124,314$6,768,511$4,211,082$19,637,577
92$32,029,554$7,034,728$4,286,714$21,413,526
93$35,229,068$7,311,929$4,362,818$23,363,899
94$38,752,806$7,600,587$4,439,345$25,506,281
95$42,633,772$7,901,195$4,516,243$27,860,042
96$46,908,334$8,214,271$4,593,455$30,446,523
97$51,616,568$8,540,354$4,670,919$33,289,233
98$56,802,635$8,880,008$4,748,572$36,414,072
99$62,515,197$9,233,823$4,826,343$39,849,572
100$68,807,880$9,602,413$4,904,158$43,627,170