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

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$168,461$166,961$165,497$164,068$162,672$160,374
2 years$83,397$81,843$80,338$78,879$77,463$75,152
3 years$55,046$53,486$51,984$50,538$49,146$46,894
4 years$40,873$39,318$37,831$36,410$35,051$32,875
5 years$32,371$30,825$29,359$27,966$26,645$24,552
6 years$26,705$25,171$23,726$22,365$21,084$19,076
7 years$22,660$21,139$19,716$18,387$17,147$15,225
8 years$19,627$18,120$16,721$15,425$14,225$12,389
9 years$17,270$15,777$14,402$13,138$11,979$10,228
10 years$15,385$13,906$12,556$11,326$10,207$8,539
11 years$13,844$12,380$11,054$9,857$8,778$7,192
12 years$12,560$11,112$9,810$8,646$7,607$6,101
13 years$11,475$10,042$8,765$7,633$6,634$5,206
14 years$10,546$9,128$7,875$6,775$5,815$4,463
15 years$9,741$8,338$7,110$6,043$5,120$3,841
16 years$9,038$7,650$6,446$5,410$4,525$3,317
17 years$8,418$7,045$5,866$4,861$4,012$2,873
18 years$7,867$6,510$5,355$4,381$3,567$2,494
19 years$7,376$6,034$4,902$3,959$3,180$2,169
20 years$6,933$5,607$4,499$3,585$2,840$1,891
21 years$6,534$5,223$4,138$3,254$2,542$1,650
22 years$6,171$4,875$3,814$2,958$2,278$1,442
23 years$5,840$4,560$3,522$2,694$2,045$1,262
24 years$5,538$4,272$3,257$2,457$1,838$1,105
25 years$5,259$4,009$3,016$2,244$1,654$968
26 years$5,003$3,768$2,798$2,052$1,490$849
27 years$4,766$3,546$2,598$1,878$1,343$746
28 years$4,547$3,341$2,415$1,721$1,212$655
29 years$4,343$3,152$2,247$1,578$1,094$575
30 years$4,153$2,977$2,093$1,448$989$506
31 years$3,975$2,814$1,952$1,330$894$445
32 years$3,809$2,663$1,821$1,222$809$391
33 years$3,653$2,522$1,700$1,124$732$344
34 years$3,507$2,390$1,589$1,034$663$303
35 years$3,370$2,267$1,485$952$600$267
36 years$3,240$2,152$1,389$877$544$235
37 years$3,118$2,044$1,300$808$493$207
38 years$3,002$1,942$1,218$745$447$182
39 years$2,893$1,847$1,141$687$405$161
40 years$2,789$1,757$1,069$633$368$141
41 years$2,691$1,673$1,003$584$333$125
42 years$2,597$1,593$941$539$303$110
43 years$2,508$1,518$883$498$275$97
44 years$2,424$1,447$828$460$249$85
45 years$2,343$1,380$778$424$226$75
46 years$2,266$1,316$731$392$205$66
47 years$2,193$1,256$686$362$187$58
48 years$2,123$1,199$645$335$169$52
49 years$2,056$1,145$606$309$154$45
50 years$1,992$1,094$570$286$140$40

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 $4,370 every year, while hoping to spend $43,855 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: 59/20/21 Blend
65$2,040,000$2,040,000$2,040,000$2,040,000
66$2,252,588$2,144,468$2,112,848$2,372,711
67$2,435,690$2,202,885$2,136,967$2,513,193
68$2,635,999$2,262,695$2,160,424$2,661,182
69$2,855,224$2,323,920$2,183,151$2,821,612
70$3,095,246$2,386,581$2,205,075$2,995,694
71$3,358,136$2,450,699$2,226,121$3,184,764
72$3,646,178$2,516,295$2,246,207$3,390,293
73$3,961,883$2,583,389$2,265,251$3,613,899
74$4,308,020$2,651,999$2,283,161$3,857,369
75$4,687,637$2,722,146$2,299,846$4,122,666
76$5,104,091$2,793,846$2,315,205$4,411,958
77$5,561,080$2,867,116$2,329,137$4,727,628
78$6,062,677$2,941,972$2,341,530$5,072,306
79$6,613,370$3,018,429$2,352,271$5,448,887
80$7,218,101$3,096,500$2,361,240$5,860,561
81$7,882,316$3,176,196$2,368,309$6,310,843
82$8,612,011$3,257,528$2,373,346$6,803,608
83$9,413,794$3,340,505$2,376,212$7,343,122
84$10,294,945$3,425,134$2,376,759$7,934,089
85$11,263,483$3,511,420$2,374,834$8,581,690
86$12,328,243$3,599,364$2,370,276$9,291,635
87$13,498,960$3,688,969$2,362,916$10,070,217
88$14,786,356$3,780,230$2,352,576$10,924,369
89$16,202,248$3,873,145$2,339,070$11,861,733
90$17,759,652$3,967,704$2,322,205$12,890,728
91$19,472,912$4,063,897$2,301,774$14,020,634
92$21,357,831$4,161,710$2,277,565$15,261,676
93$23,431,820$4,261,124$2,249,354$16,625,122
94$25,714,063$4,362,117$2,216,905$18,123,390
95$28,225,700$4,464,663$2,179,973$19,770,166
96$30,990,021$4,568,731$2,138,302$21,580,531
97$34,032,689$4,674,285$2,091,622$23,571,106
98$37,381,983$4,781,284$2,039,650$25,760,206
99$41,069,061$4,889,683$1,982,094$28,168,016
100$45,128,255$4,999,427$1,918,644$30,816,782