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%16.7%
1 years$199,841$198,061$196,325$194,629$192,974$187,700
2 years$98,931$97,089$95,303$93,572$91,892$86,618
3 years$65,299$63,449$61,667$59,952$58,300$53,190
4 years$48,486$46,641$44,878$43,192$41,580$36,673
5 years$38,401$36,567$34,827$33,176$31,609$26,918
6 years$31,680$29,860$28,146$26,531$25,011$20,542
7 years$26,881$25,076$23,389$21,813$20,341$16,093
8 years$23,283$21,495$19,836$18,298$16,874$12,846
9 years$20,487$18,715$17,085$15,586$14,211$10,398
10 years$18,251$16,497$14,895$13,435$12,108$8,506
11 years$16,423$14,686$13,113$11,693$10,413$7,017
12 years$14,900$13,181$11,638$10,256$9,024$5,826
13 years$13,613$11,912$10,397$9,055$7,869$4,863
14 years$12,510$10,828$9,342$8,038$6,898$4,076
15 years$11,556$9,891$8,435$7,168$6,074$3,429
16 years$10,722$9,075$7,647$6,418$5,368$2,893
17 years$9,986$8,358$6,959$5,767$4,760$2,447
18 years$9,333$7,723$6,352$5,197$4,232$2,074
19 years$8,749$7,158$5,815$4,696$3,772$1,760
20 years$8,225$6,651$5,337$4,253$3,369$1,496
21 years$7,751$6,195$4,909$3,860$3,015$1,273
22 years$7,320$5,783$4,524$3,510$2,703$1,085
23 years$6,928$5,409$4,177$3,196$2,426$925
24 years$6,569$5,068$3,863$2,915$2,181$789
25 years$6,239$4,756$3,578$2,662$1,962$674
26 years$5,935$4,470$3,319$2,434$1,767$576
27 years$5,654$4,207$3,082$2,228$1,594$492
28 years$5,394$3,964$2,865$2,041$1,438$421
29 years$5,152$3,739$2,666$1,872$1,298$360
30 years$4,926$3,531$2,483$1,718$1,173$308
31 years$4,716$3,338$2,315$1,578$1,061$263
32 years$4,519$3,159$2,160$1,450$959$225
33 years$4,334$2,991$2,017$1,334$868$193
34 years$4,160$2,835$1,884$1,227$786$165
35 years$3,997$2,689$1,762$1,129$712$141
36 years$3,844$2,552$1,648$1,040$645$121
37 years$3,698$2,424$1,543$958$585$104
38 years$3,561$2,304$1,445$883$530$89
39 years$3,432$2,191$1,353$815$481$76
40 years$3,309$2,084$1,269$751$436$65
41 years$3,192$1,984$1,190$693$396$56
42 years$3,081$1,890$1,116$640$359$48
43 years$2,976$1,800$1,047$591$326$41
44 years$2,875$1,716$983$545$296$35
45 years$2,780$1,636$923$504$268$30
46 years$2,689$1,561$867$465$244$26
47 years$2,602$1,490$814$430$221$22
48 years$2,518$1,422$765$397$201$19
49 years$2,439$1,358$719$367$183$16
50 years$2,363$1,297$676$339$166$14

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 $6,878 every year, while hoping to spend $40,956 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: 61/27/12 Blend
64$2,420,000$2,420,000$2,420,000$2,420,000
65$2,673,935$2,545,675$2,508,165$2,828,983
66$2,903,099$2,626,836$2,548,611$3,015,062
67$3,154,266$2,710,601$2,589,040$3,212,749
68$3,429,635$2,797,055$2,629,408$3,427,463
69$3,731,632$2,886,285$2,669,667$3,660,853
70$4,062,926$2,978,381$2,709,768$3,914,733
71$4,426,458$3,073,435$2,749,659$4,191,099
72$4,825,468$3,171,544$2,789,283$4,492,150
73$5,263,522$3,272,806$2,828,581$4,820,305
74$5,744,554$3,377,326$2,867,491$5,178,228
75$6,272,890$3,485,207$2,905,944$5,568,851
76$6,853,303$3,596,560$2,943,871$5,995,402
77$7,491,046$3,711,498$2,981,197$6,461,438
78$8,191,908$3,830,136$3,017,842$6,970,871
79$8,962,266$3,952,597$3,053,724$7,528,014
80$9,809,147$4,079,003$3,088,753$8,137,614
81$10,740,290$4,209,485$3,122,836$8,804,899
82$11,764,225$4,344,174$3,155,876$9,535,627
83$12,890,346$4,483,209$3,187,768$10,336,142
84$14,129,005$4,626,730$3,218,402$11,213,427
85$15,491,609$4,774,886$3,247,664$12,175,178
86$16,990,724$4,927,826$3,275,432$13,229,871
87$18,640,197$5,085,708$3,301,577$14,386,842
88$20,455,282$5,248,694$3,325,966$15,656,375
89$22,452,791$5,416,949$3,348,456$17,049,801
90$24,651,245$5,590,649$3,368,898$18,579,600
91$27,071,051$5,769,970$3,387,135$20,259,522
92$29,734,697$5,955,097$3,403,003$22,104,717
93$32,666,960$6,146,221$3,416,327$24,131,871
94$35,895,143$6,343,538$3,426,927$26,359,373
95$39,449,329$6,547,253$3,434,611$28,807,479
96$43,362,668$6,757,576$3,439,178$31,498,509
97$47,671,687$6,974,724$3,440,417$34,457,050
98$52,416,636$7,198,923$3,438,108$37,710,199
99$57,641,866$7,430,404$3,432,018$41,287,804
100$63,396,250$7,669,407$3,421,905$45,222,759