Can I retire at age 66 with 2,040,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$168,461$166,961$165,497$164,068$162,672$158,676
2 years$83,397$81,843$80,338$78,879$77,463$73,461
3 years$55,046$53,486$51,984$50,538$49,146$45,263
4 years$40,873$39,318$37,831$36,410$35,051$31,319
5 years$32,371$30,825$29,359$27,966$26,645$23,073
6 years$26,705$25,171$23,726$22,365$21,084$17,675
7 years$22,660$21,139$19,716$18,387$17,147$13,902
8 years$19,627$18,120$16,721$15,425$14,225$11,143
9 years$17,270$15,777$14,402$13,138$11,979$9,058
10 years$15,385$13,906$12,556$11,326$10,207$7,442
11 years$13,844$12,380$11,054$9,857$8,778$6,166
12 years$12,560$11,112$9,810$8,646$7,607$5,143
13 years$11,475$10,042$8,765$7,633$6,634$4,313
14 years$10,546$9,128$7,875$6,775$5,815$3,633
15 years$9,741$8,338$7,110$6,043$5,120$3,072
16 years$9,038$7,650$6,446$5,410$4,525$2,604
17 years$8,418$7,045$5,866$4,861$4,012$2,214
18 years$7,867$6,510$5,355$4,381$3,567$1,886
19 years$7,376$6,034$4,902$3,959$3,180$1,609
20 years$6,933$5,607$4,499$3,585$2,840$1,375
21 years$6,534$5,223$4,138$3,254$2,542$1,177
22 years$6,171$4,875$3,814$2,958$2,278$1,008
23 years$5,840$4,560$3,522$2,694$2,045$864
24 years$5,538$4,272$3,257$2,457$1,838$742
25 years$5,259$4,009$3,016$2,244$1,654$637
26 years$5,003$3,768$2,798$2,052$1,490$547
27 years$4,766$3,546$2,598$1,878$1,343$470
28 years$4,547$3,341$2,415$1,721$1,212$404
29 years$4,343$3,152$2,247$1,578$1,094$348
30 years$4,153$2,977$2,093$1,448$989$299
31 years$3,975$2,814$1,952$1,330$894$258
32 years$3,809$2,663$1,821$1,222$809$222
33 years$3,653$2,522$1,700$1,124$732$191
34 years$3,507$2,390$1,589$1,034$663$164
35 years$3,370$2,267$1,485$952$600$142
36 years$3,240$2,152$1,389$877$544$122
37 years$3,118$2,044$1,300$808$493$105
38 years$3,002$1,942$1,218$745$447$91
39 years$2,893$1,847$1,141$687$405$78
40 years$2,789$1,757$1,069$633$368$67
41 years$2,691$1,673$1,003$584$333$58
42 years$2,597$1,593$941$539$303$50
43 years$2,508$1,518$883$498$275$43
44 years$2,424$1,447$828$460$249$37
45 years$2,343$1,380$778$424$226$32
46 years$2,266$1,316$731$392$205$28
47 years$2,193$1,256$686$362$187$24
48 years$2,123$1,199$645$335$169$20
49 years$2,056$1,145$606$309$154$18
50 years$1,992$1,094$570$286$140$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,040,000, adding $2,836 every year, while hoping to spend $38,003 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: 83/12/5 Blend
65$2,040,000$2,040,000$2,040,000$2,040,000
66$2,251,005$2,142,885$2,111,265$2,437,481
67$2,440,173$2,207,452$2,141,558$2,624,196
68$2,647,362$2,273,908$2,171,591$2,823,739
69$2,874,371$2,342,307$2,201,317$3,041,642
70$3,123,179$2,412,703$2,230,684$3,279,721
71$3,395,967$2,485,150$2,259,636$3,539,974
72$3,695,139$2,559,705$2,288,117$3,824,604
73$4,023,338$2,636,425$2,316,064$4,136,033
74$4,383,479$2,715,371$2,343,413$4,476,933
75$4,778,773$2,796,603$2,370,096$4,850,242
76$5,212,754$2,880,183$2,396,040$5,259,199
77$5,689,317$2,966,174$2,421,170$5,707,371
78$6,212,753$3,054,642$2,445,404$6,198,686
79$6,787,787$3,145,653$2,468,659$6,737,470
80$7,419,628$3,239,276$2,490,845$7,328,491
81$8,114,009$3,335,580$2,511,868$7,977,000
82$8,877,252$3,434,637$2,531,629$8,688,779
83$9,716,317$3,536,520$2,550,024$9,470,200
84$10,638,875$3,641,303$2,566,943$10,328,284
85$11,653,375$3,749,062$2,582,271$11,270,763
86$12,769,129$3,859,875$2,595,887$12,306,156
87$13,996,393$3,973,822$2,607,662$13,443,850
88$15,346,470$4,090,985$2,617,464$14,694,185
89$16,831,812$4,211,445$2,625,151$16,068,553
90$18,466,139$4,335,287$2,630,575$17,579,509
91$20,264,568$4,462,599$2,633,582$19,240,881
92$22,243,755$4,593,468$2,634,009$21,067,907
93$24,422,054$4,727,984$2,631,684$23,077,378
94$26,819,686$4,866,238$2,626,428$25,287,792
95$29,458,935$5,008,324$2,618,054$27,719,531
96$32,364,351$5,154,337$2,606,364$30,395,055
97$35,562,989$5,304,374$2,591,151$33,339,111
98$39,084,659$5,458,533$2,572,199$36,578,965
99$42,962,207$5,616,914$2,549,281$40,144,663
100$47,231,829$5,779,620$2,522,159$44,069,313