Can I retire at age 66 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$170,113$168,598$167,119$165,676$164,267$162,215
2 years$84,214$82,646$81,126$79,652$78,223$76,157
3 years$55,585$54,010$52,494$51,034$49,628$47,614
4 years$41,273$39,703$38,202$36,767$35,395$33,448
5 years$32,689$31,128$29,646$28,241$26,907$25,032
6 years$26,967$25,418$23,959$22,584$21,290$19,491
7 years$22,882$21,346$19,910$18,568$17,315$15,591
8 years$19,820$18,298$16,885$15,576$14,364$12,715
9 years$17,439$15,931$14,543$13,267$12,097$10,523
10 years$15,536$14,043$12,679$11,437$10,307$8,807
11 years$13,980$12,501$11,162$9,953$8,864$7,436
12 years$12,684$11,221$9,906$8,730$7,682$6,324
13 years$11,588$10,140$8,851$7,708$6,699$5,410
14 years$10,649$9,217$7,952$6,842$5,872$4,650
15 years$9,837$8,420$7,180$6,102$5,170$4,013
16 years$9,127$7,725$6,510$5,463$4,569$3,476
17 years$8,501$7,115$5,924$4,909$4,052$3,019
18 years$7,945$6,574$5,407$4,424$3,602$2,628
19 years$7,448$6,093$4,950$3,997$3,211$2,293
20 years$7,001$5,662$4,543$3,620$2,868$2,004
21 years$6,598$5,274$4,179$3,286$2,567$1,754
22 years$6,231$4,923$3,851$2,987$2,301$1,538
23 years$5,897$4,604$3,556$2,721$2,065$1,349
24 years$5,592$4,314$3,289$2,481$1,856$1,186
25 years$5,311$4,048$3,046$2,266$1,670$1,042
26 years$5,052$3,805$2,825$2,072$1,505$917
27 years$4,813$3,581$2,623$1,897$1,356$808
28 years$4,591$3,374$2,439$1,738$1,224$712
29 years$4,385$3,183$2,269$1,594$1,105$627
30 years$4,193$3,006$2,114$1,462$999$553
31 years$4,014$2,842$1,971$1,343$903$488
32 years$3,846$2,689$1,839$1,234$817$431
33 years$3,689$2,546$1,717$1,135$739$380
34 years$3,542$2,413$1,604$1,044$669$336
35 years$3,403$2,289$1,500$961$606$297
36 years$3,272$2,173$1,403$885$549$262
37 years$3,148$2,064$1,313$816$498$232
38 years$3,032$1,961$1,230$752$451$205
39 years$2,921$1,865$1,152$693$409$181
40 years$2,816$1,774$1,080$640$371$160
41 years$2,717$1,689$1,013$590$337$141
42 years$2,623$1,608$950$545$306$125
43 years$2,533$1,533$891$503$277$111
44 years$2,448$1,461$837$464$252$98
45 years$2,366$1,393$786$429$228$87
46 years$2,289$1,329$738$396$207$77
47 years$2,215$1,268$693$366$188$68
48 years$2,144$1,211$651$338$171$60
49 years$2,076$1,156$612$312$155$53
50 years$2,011$1,104$576$289$141$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,060,000, adding $4,263 every year, while hoping to spend $48,273 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: 62/10/28 Blend
65$2,060,000$2,060,000$2,060,000$2,060,000
66$2,274,517$2,165,337$2,133,407$2,398,210
67$2,455,156$2,220,077$2,153,514$2,537,512
68$2,652,602$2,275,880$2,172,677$2,683,940
69$2,868,518$2,332,750$2,190,813$2,842,806
70$3,104,737$2,390,684$2,207,835$3,015,336
71$3,363,274$2,449,682$2,223,651$3,202,883
72$3,646,350$2,509,739$2,238,166$3,406,934
73$3,956,411$2,570,849$2,251,278$3,629,131
74$4,296,150$2,633,005$2,262,880$3,871,283
75$4,668,531$2,696,196$2,272,860$4,135,381
76$5,076,822$2,760,410$2,281,102$4,423,624
77$5,524,619$2,825,632$2,287,481$4,738,430
78$6,015,886$2,891,844$2,291,867$5,082,469
79$6,554,986$2,959,024$2,294,124$5,458,681
80$7,146,728$3,027,149$2,294,110$5,870,306
81$7,796,405$3,096,190$2,291,674$6,320,917
82$8,509,852$3,166,117$2,286,658$6,814,450
83$9,293,494$3,236,894$2,278,899$7,355,245
84$10,154,410$3,308,482$2,268,222$7,948,083
85$11,100,399$3,380,836$2,254,446$8,598,236
86$12,140,051$3,453,908$2,237,381$9,311,514
87$13,282,831$3,527,645$2,216,828$10,094,320
88$14,539,166$3,601,985$2,192,578$10,953,713
89$15,920,544$3,676,866$2,164,412$11,897,471
90$17,439,622$3,752,214$2,132,103$12,934,168
91$19,110,343$3,827,953$2,095,408$14,073,254
92$20,948,073$3,903,998$2,054,079$15,325,146
93$22,969,738$3,980,255$2,007,852$16,701,323
94$25,193,989$4,056,626$1,956,453$18,214,438
95$27,641,376$4,133,000$1,899,595$19,878,439
96$30,334,541$4,209,262$1,836,976$21,708,695
97$33,298,432$4,285,283$1,768,282$23,722,148
98$36,560,537$4,360,927$1,693,184$25,937,470
99$40,151,145$4,436,046$1,611,339$28,375,241
100$44,103,630$4,510,481$1,522,388$31,058,143