Can I retire at age 66 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$175,068$173,508$171,987$170,502$169,052$165,842
2 years$86,667$85,053$83,489$81,972$80,501$77,280
3 years$57,204$55,583$54,023$52,520$51,073$47,941
4 years$42,476$40,859$39,315$37,838$36,426$33,406
5 years$33,641$32,034$30,510$29,063$27,690$24,793
6 years$27,753$26,158$24,656$23,242$21,910$19,138
7 years$23,549$21,968$20,490$19,109$17,819$15,172
8 years$20,397$18,830$17,377$16,030$14,783$12,260
9 years$17,947$16,395$14,967$13,654$12,449$10,050
10 years$15,988$14,452$13,048$11,770$10,607$8,329
11 years$14,387$12,865$11,488$10,243$9,123$6,963
12 years$13,053$11,547$10,195$8,985$7,905$5,861
13 years$11,925$10,435$9,108$7,932$6,894$4,961
14 years$10,960$9,486$8,184$7,041$6,043$4,219
15 years$10,123$8,665$7,389$6,280$5,321$3,602
16 years$9,392$7,950$6,699$5,623$4,702$3,084
17 years$8,748$7,322$6,096$5,052$4,170$2,648
18 years$8,176$6,766$5,565$4,553$3,707$2,279
19 years$7,665$6,270$5,094$4,114$3,304$1,965
20 years$7,205$5,827$4,675$3,726$2,952$1,697
21 years$6,790$5,427$4,300$3,381$2,641$1,468
22 years$6,413$5,066$3,964$3,075$2,368$1,271
23 years$6,069$4,738$3,660$2,800$2,125$1,102
24 years$5,755$4,440$3,385$2,554$1,910$956
25 years$5,466$4,166$3,135$2,332$1,719$830
26 years$5,199$3,916$2,907$2,132$1,548$721
27 years$4,953$3,685$2,700$1,952$1,396$627
28 years$4,725$3,472$2,510$1,788$1,260$545
29 years$4,513$3,276$2,336$1,640$1,137$474
30 years$4,315$3,094$2,175$1,505$1,028$413
31 years$4,131$2,925$2,028$1,382$929$360
32 years$3,958$2,767$1,892$1,270$840$313
33 years$3,797$2,621$1,767$1,168$761$273
34 years$3,645$2,484$1,651$1,075$689$238
35 years$3,502$2,356$1,543$989$624$207
36 years$3,367$2,236$1,444$911$565$181
37 years$3,240$2,124$1,351$840$512$157
38 years$3,120$2,018$1,266$774$464$137
39 years$3,006$1,919$1,186$714$421$120
40 years$2,898$1,826$1,111$658$382$104
41 years$2,796$1,738$1,042$607$347$91
42 years$2,699$1,655$977$560$314$79
43 years$2,607$1,577$917$517$285$69
44 years$2,519$1,503$861$478$259$60
45 years$2,435$1,434$808$441$235$53
46 years$2,355$1,368$759$407$214$46
47 years$2,279$1,305$713$376$194$40
48 years$2,206$1,246$670$348$176$35
49 years$2,137$1,190$630$321$160$31
50 years$2,070$1,137$592$297$145$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,120,000, adding $3,403 every year, while hoping to spend $48,310 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: 32/44/24 Blend
65$2,120,000$2,120,000$2,120,000$2,120,000
66$2,339,750$2,227,390$2,194,530$2,397,277
67$2,527,003$2,285,131$2,216,645$2,498,863
68$2,731,737$2,344,082$2,237,883$2,603,638
69$2,955,683$2,404,251$2,258,161$2,715,516
70$3,200,750$2,465,646$2,277,396$2,835,152
71$3,469,035$2,528,272$2,295,498$2,963,267
72$3,762,854$2,592,134$2,312,374$3,100,655
73$4,084,750$2,657,234$2,327,924$3,248,191
74$4,437,530$2,723,574$2,342,045$3,406,839
75$4,824,282$2,791,152$2,354,627$3,577,661
76$5,248,407$2,859,967$2,365,555$3,761,827
77$5,713,653$2,930,014$2,374,710$3,960,625
78$6,224,146$3,001,285$2,381,963$4,175,478
79$6,784,431$3,073,771$2,387,181$4,407,950
80$7,399,517$3,147,459$2,390,225$4,659,766
81$8,074,918$3,222,335$2,390,948$4,932,829
82$8,816,711$3,298,380$2,389,196$5,229,236
83$9,631,588$3,375,573$2,384,806$5,551,295
84$10,526,923$3,453,890$2,377,611$5,901,554
85$11,510,839$3,533,300$2,367,431$6,282,821
86$12,592,285$3,613,772$2,354,080$6,698,189
87$13,781,120$3,695,269$2,337,363$7,151,070
88$15,088,205$3,777,747$2,317,075$7,645,225
89$16,525,507$3,861,162$2,293,003$8,184,799
90$18,106,210$3,945,461$2,264,920$8,774,361
91$19,844,841$4,030,586$2,232,592$9,418,949
92$21,757,404$4,116,474$2,195,773$10,124,117
93$23,861,533$4,203,055$2,154,205$10,895,987
94$26,176,656$4,290,251$2,107,618$11,741,309
95$28,724,181$4,377,980$2,055,730$12,667,523
96$31,527,695$4,466,149$1,998,244$13,682,831
97$34,613,188$4,554,658$1,934,853$14,796,275
98$38,009,295$4,643,398$1,865,233$16,017,824
99$41,747,570$4,732,252$1,789,045$17,358,467
100$45,862,782$4,821,091$1,705,937$18,830,318