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%12.1%
1 years$168,461$166,961$165,497$164,068$162,672$161,242
2 years$83,397$81,843$80,338$78,879$77,463$76,022
3 years$55,046$53,486$51,984$50,538$49,146$47,738
4 years$40,873$39,318$37,831$36,410$35,051$33,688
5 years$32,371$30,825$29,359$27,966$26,645$25,331
6 years$26,705$25,171$23,726$22,365$21,084$19,819
7 years$22,660$21,139$19,716$18,387$17,147$15,933
8 years$19,627$18,120$16,721$15,425$14,225$13,062
9 years$17,270$15,777$14,402$13,138$11,979$10,867
10 years$15,385$13,906$12,556$11,326$10,207$9,144
11 years$13,844$12,380$11,054$9,857$8,778$7,764
12 years$12,560$11,112$9,810$8,646$7,607$6,641
13 years$11,475$10,042$8,765$7,633$6,634$5,714
14 years$10,546$9,128$7,875$6,775$5,815$4,941
15 years$9,741$8,338$7,110$6,043$5,120$4,290
16 years$9,038$7,650$6,446$5,410$4,525$3,739
17 years$8,418$7,045$5,866$4,861$4,012$3,268
18 years$7,867$6,510$5,355$4,381$3,567$2,863
19 years$7,376$6,034$4,902$3,959$3,180$2,514
20 years$6,933$5,607$4,499$3,585$2,840$2,212
21 years$6,534$5,223$4,138$3,254$2,542$1,949
22 years$6,171$4,875$3,814$2,958$2,278$1,720
23 years$5,840$4,560$3,522$2,694$2,045$1,520
24 years$5,538$4,272$3,257$2,457$1,838$1,345
25 years$5,259$4,009$3,016$2,244$1,654$1,191
26 years$5,003$3,768$2,798$2,052$1,490$1,055
27 years$4,766$3,546$2,598$1,878$1,343$936
28 years$4,547$3,341$2,415$1,721$1,212$831
29 years$4,343$3,152$2,247$1,578$1,094$738
30 years$4,153$2,977$2,093$1,448$989$655
31 years$3,975$2,814$1,952$1,330$894$582
32 years$3,809$2,663$1,821$1,222$809$518
33 years$3,653$2,522$1,700$1,124$732$461
34 years$3,507$2,390$1,589$1,034$663$410
35 years$3,370$2,267$1,485$952$600$365
36 years$3,240$2,152$1,389$877$544$325
37 years$3,118$2,044$1,300$808$493$289
38 years$3,002$1,942$1,218$745$447$258
39 years$2,893$1,847$1,141$687$405$229
40 years$2,789$1,757$1,069$633$368$204
41 years$2,691$1,673$1,003$584$333$182
42 years$2,597$1,593$941$539$303$162
43 years$2,508$1,518$883$498$275$145
44 years$2,424$1,447$828$460$249$129
45 years$2,343$1,380$778$424$226$115
46 years$2,266$1,316$731$392$205$102
47 years$2,193$1,256$686$362$187$91
48 years$2,123$1,199$645$335$169$81
49 years$2,056$1,145$606$309$154$73
50 years$1,992$1,094$570$286$140$65

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 $6,434 every year, while hoping to spend $23,406 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: 52/26/22 Blend
65$2,040,000$2,040,000$2,040,000$2,040,000
66$2,254,717$2,146,597$2,114,977$2,357,902
67$2,459,794$2,226,876$2,160,925$2,510,070
68$2,685,005$2,310,305$2,207,627$2,672,555
69$2,932,378$2,397,012$2,255,085$2,848,808
70$3,204,148$2,487,134$2,303,299$3,040,146
71$3,502,778$2,580,810$2,352,266$3,248,019
72$3,830,980$2,678,189$2,401,986$3,474,021
73$4,191,743$2,779,423$2,452,455$3,719,905
74$4,588,359$2,884,672$2,503,670$3,987,602
75$5,024,455$2,994,104$2,555,626$4,279,233
76$5,504,027$3,107,893$2,608,318$4,597,136
77$6,031,478$3,226,221$2,661,737$4,943,881
78$6,611,660$3,349,277$2,715,876$5,322,299
79$7,249,917$3,477,259$2,770,726$5,735,503
80$7,952,138$3,610,374$2,826,274$6,186,923
81$8,724,811$3,748,838$2,882,510$6,680,333
82$9,575,087$3,892,875$2,939,419$7,219,887
83$10,510,841$4,042,722$2,996,984$7,810,161
84$11,540,753$4,198,622$3,055,190$8,456,190
85$12,674,388$4,360,832$3,114,017$9,163,522
86$13,922,282$4,529,619$3,173,443$9,938,263
87$15,296,048$4,705,263$3,233,446$10,787,137
88$16,808,478$4,888,055$3,294,000$11,717,550
89$18,473,672$5,078,299$3,355,079$12,737,657
90$20,307,164$5,276,313$3,416,651$13,856,441
91$22,326,071$5,482,429$3,478,685$15,083,793
92$24,549,256$5,696,993$3,541,146$16,430,609
93$26,997,501$5,920,367$3,603,996$17,908,890
94$29,693,711$6,152,930$3,667,195$19,531,853
95$32,663,122$6,395,076$3,730,698$21,314,058
96$35,933,543$6,647,217$3,794,459$23,271,544
97$39,535,619$6,909,785$3,858,428$25,421,976
98$43,503,118$7,183,230$3,922,551$27,784,816
99$47,873,249$7,468,022$3,986,770$30,381,502
100$52,687,018$7,764,652$4,051,024$33,235,651