Can I retire at age 66 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$167,636$166,142$164,685$163,264$161,875$159,390
2 years$82,988$81,442$79,944$78,492$77,083$74,586
3 years$54,776$53,223$51,729$50,291$48,905$46,473
4 years$40,672$39,125$37,646$36,232$34,879$32,531
5 years$32,213$30,674$29,215$27,829$26,515$24,257
6 years$26,575$25,048$23,610$22,255$20,980$18,816
7 years$22,549$21,035$19,620$18,297$17,063$14,992
8 years$19,531$18,031$16,639$15,349$14,155$12,178
9 years$17,185$15,699$14,331$13,074$11,921$10,036
10 years$15,310$13,838$12,494$11,270$10,157$8,364
11 years$13,776$12,319$11,000$9,808$8,735$7,032
12 years$12,499$11,057$9,762$8,603$7,570$5,953
13 years$11,419$9,992$8,722$7,595$6,601$5,069
14 years$10,494$9,083$7,837$6,742$5,786$4,337
15 years$9,694$8,297$7,075$6,013$5,095$3,726
16 years$8,994$7,613$6,415$5,384$4,503$3,211
17 years$8,377$7,011$5,837$4,837$3,993$2,775
18 years$7,829$6,478$5,329$4,359$3,550$2,403
19 years$7,339$6,004$4,878$3,939$3,164$2,086
20 years$6,899$5,579$4,477$3,568$2,826$1,814
21 years$6,502$5,197$4,118$3,238$2,529$1,580
22 years$6,141$4,851$3,795$2,944$2,267$1,377
23 years$5,812$4,537$3,504$2,681$2,035$1,202
24 years$5,510$4,251$3,241$2,445$1,829$1,050
25 years$5,234$3,989$3,002$2,233$1,646$918
26 years$4,979$3,749$2,784$2,042$1,483$804
27 years$4,743$3,529$2,585$1,869$1,337$704
28 years$4,524$3,325$2,403$1,712$1,206$617
29 years$4,321$3,137$2,236$1,570$1,089$540
30 years$4,132$2,962$2,083$1,441$984$474
31 years$3,956$2,800$1,942$1,324$890$416
32 years$3,790$2,650$1,812$1,216$805$365
33 years$3,635$2,509$1,692$1,119$728$320
34 years$3,490$2,378$1,581$1,029$659$281
35 years$3,353$2,256$1,478$947$597$247
36 years$3,224$2,141$1,383$873$541$217
37 years$3,102$2,034$1,294$804$490$190
38 years$2,987$1,933$1,212$741$445$167
39 years$2,878$1,838$1,135$683$403$147
40 years$2,775$1,748$1,064$630$366$129
41 years$2,677$1,664$998$581$332$114
42 years$2,584$1,585$936$537$301$100
43 years$2,496$1,510$878$495$273$88
44 years$2,412$1,440$824$457$248$77
45 years$2,332$1,373$774$422$225$68
46 years$2,255$1,310$727$390$204$60
47 years$2,182$1,250$683$360$186$52
48 years$2,113$1,193$642$333$169$46
49 years$2,046$1,139$603$308$153$41
50 years$1,982$1,088$567$285$139$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,030,000, adding $5,977 every year, while hoping to spend $33,776 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: 56/16/28 Blend
65$2,030,000$2,030,000$2,030,000$2,030,000
66$2,243,225$2,135,635$2,104,170$2,351,231
67$2,436,097$2,204,344$2,138,723$2,494,916
68$2,647,509$2,275,287$2,173,300$2,647,381
69$2,879,318$2,348,539$2,207,869$2,812,819
70$3,133,567$2,424,176$2,242,391$2,992,496
71$3,412,507$2,502,277$2,276,827$3,187,801
72$3,718,617$2,582,923$2,311,135$3,400,267
73$4,054,628$2,666,199$2,345,271$3,631,580
74$4,423,550$2,752,191$2,379,186$3,883,597
75$4,828,694$2,840,991$2,412,831$4,158,365
76$5,273,713$2,932,691$2,446,153$4,458,136
77$5,762,626$3,027,389$2,479,094$4,785,392
78$6,299,866$3,125,182$2,511,595$5,142,867
79$6,890,311$3,226,175$2,543,593$5,533,571
80$7,539,340$3,330,475$2,575,020$5,960,822
81$8,252,875$3,438,190$2,605,806$6,428,273
82$9,037,444$3,549,437$2,635,876$6,939,948
83$9,900,235$3,664,332$2,665,150$7,500,284
84$10,849,172$3,782,997$2,693,546$8,114,164
85$11,892,983$3,905,559$2,720,975$8,786,971
86$13,041,284$4,032,148$2,747,344$9,524,636
87$14,304,671$4,162,900$2,772,556$10,333,690
88$15,694,819$4,297,953$2,796,508$11,221,333
89$17,224,591$4,437,453$2,819,091$12,195,496
90$18,908,159$4,581,548$2,840,191$13,264,917
91$20,761,142$4,730,394$2,859,687$14,439,225
92$22,800,745$4,884,151$2,877,454$15,729,030
93$25,045,930$5,042,983$2,893,358$17,146,022
94$27,517,589$5,207,063$2,907,259$18,703,083
95$30,238,741$5,376,568$2,919,011$20,414,405
96$33,234,753$5,551,680$2,928,458$22,295,629
97$36,533,576$5,732,590$2,935,439$24,363,990
98$40,166,009$5,919,495$2,939,784$26,638,477
99$44,165,988$6,112,597$2,941,314$29,140,018
100$48,570,912$6,312,107$2,939,840$31,891,671