Can I retire at age 66 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$171,764$170,234$168,742$167,285$165,862$159,344
2 years$85,032$83,448$81,913$80,425$78,982$72,495
3 years$56,125$54,534$53,003$51,529$50,109$43,858
4 years$41,674$40,089$38,573$37,124$35,738$29,770
5 years$33,006$31,430$29,934$28,515$27,168$21,497
6 years$27,229$25,665$24,191$22,803$21,497$16,128
7 years$23,104$21,553$20,103$18,748$17,483$12,414
8 years$20,012$18,475$17,049$15,727$14,504$9,729
9 years$17,609$16,086$14,684$13,396$12,214$7,727
10 years$15,687$14,179$12,802$11,548$10,407$6,199
11 years$14,115$12,623$11,271$10,050$8,950$5,012
12 years$12,807$11,329$10,003$8,815$7,756$4,077
13 years$11,700$10,239$8,937$7,782$6,764$3,332
14 years$10,753$9,307$8,030$6,908$5,929$2,733
15 years$9,932$8,502$7,250$6,161$5,220$2,249
16 years$9,215$7,800$6,573$5,517$4,614$1,856
17 years$8,583$7,184$5,981$4,957$4,091$1,534
18 years$8,022$6,638$5,460$4,467$3,637$1,270
19 years$7,520$6,152$4,998$4,036$3,242$1,053
20 years$7,069$5,717$4,587$3,656$2,896$874
21 years$6,662$5,325$4,219$3,318$2,591$727
22 years$6,292$4,971$3,889$3,016$2,323$604
23 years$5,955$4,649$3,591$2,747$2,085$503
24 years$5,646$4,356$3,321$2,506$1,874$419
25 years$5,363$4,088$3,076$2,288$1,686$349
26 years$5,101$3,842$2,852$2,092$1,519$290
27 years$4,860$3,616$2,649$1,915$1,370$242
28 years$4,636$3,407$2,462$1,755$1,236$202
29 years$4,428$3,214$2,291$1,609$1,116$168
30 years$4,234$3,035$2,134$1,477$1,008$140
31 years$4,053$2,869$1,990$1,356$912$117
32 years$3,884$2,715$1,857$1,246$825$98
33 years$3,725$2,571$1,733$1,146$746$81
34 years$3,576$2,437$1,620$1,055$676$68
35 years$3,436$2,311$1,514$971$612$57
36 years$3,304$2,194$1,417$894$554$47
37 years$3,179$2,084$1,326$824$503$40
38 years$3,061$1,980$1,242$759$456$33
39 years$2,949$1,883$1,163$700$413$28
40 years$2,844$1,791$1,090$646$375$23
41 years$2,743$1,705$1,022$596$340$19
42 years$2,648$1,624$959$550$309$16
43 years$2,558$1,547$900$508$280$13
44 years$2,471$1,475$845$469$254$11
45 years$2,389$1,407$793$433$231$9
46 years$2,311$1,342$745$400$209$8
47 years$2,236$1,280$700$369$190$6
48 years$2,165$1,222$658$341$173$5
49 years$2,096$1,167$618$315$157$5
50 years$2,031$1,115$581$292$143$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,080,000, adding $5,980 every year, while hoping to spend $27,795 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: 41/48/11 Blend
65$2,080,000$2,080,000$2,080,000$2,080,000
66$2,298,328$2,188,088$2,155,848$2,384,839
67$2,503,184$2,265,731$2,198,496$2,523,807
68$2,728,004$2,346,247$2,241,640$2,670,895
69$2,974,794$2,429,747$2,285,269$2,829,470
70$3,245,766$2,516,347$2,329,368$3,000,587
71$3,543,354$2,606,168$2,373,922$3,185,406
72$3,870,242$2,699,336$2,418,914$3,385,200
73$4,229,384$2,795,981$2,464,326$3,601,369
74$4,624,037$2,896,240$2,510,136$3,835,448
75$5,057,787$3,000,254$2,556,324$4,089,129
76$5,534,586$3,108,171$2,602,865$4,364,268
77$6,058,786$3,220,144$2,649,734$4,662,906
78$6,635,185$3,336,334$2,696,903$4,987,289
79$7,269,066$3,456,906$2,744,341$5,339,883
80$7,966,252$3,582,035$2,792,017$5,723,404
81$8,733,156$3,711,902$2,839,896$6,140,836
82$9,576,846$3,846,693$2,887,941$6,595,464
83$10,505,110$3,986,606$2,936,112$7,090,899
84$11,526,526$4,131,845$2,984,367$7,631,117
85$12,650,548$4,282,622$3,032,660$8,220,491
86$13,887,592$4,439,159$3,080,942$8,863,834
87$15,249,136$4,601,687$3,129,163$9,566,440
88$16,747,825$4,770,446$3,177,267$10,334,140
89$18,397,593$4,945,688$3,225,196$11,173,348
90$20,213,795$5,127,674$3,272,887$12,091,127
91$22,213,348$5,316,676$3,320,275$13,095,250
92$24,414,894$5,512,979$3,367,289$14,194,275
93$26,838,976$5,716,877$3,413,856$15,397,624
94$29,508,227$5,928,680$3,459,896$16,715,670
95$32,447,590$6,148,709$3,505,326$18,159,835
96$35,684,548$6,377,299$3,550,058$19,742,696
97$39,249,385$6,614,800$3,593,998$21,478,101
98$43,175,474$6,861,577$3,637,049$23,381,301
99$47,499,588$7,118,009$3,679,105$25,469,090
100$52,262,248$7,384,494$3,720,057$27,759,964