Can I retire at age 66 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$189,932$188,240$186,589$184,978$183,405$181,490
2 years$94,026$92,275$90,577$88,932$87,336$85,407
3 years$62,061$60,302$58,610$56,980$55,409$53,527
4 years$46,082$44,329$42,653$41,051$39,518$37,697
5 years$36,497$34,754$33,100$31,531$30,041$28,286
6 years$30,109$28,379$26,750$25,215$23,771$22,084
7 years$25,548$23,833$22,229$20,731$19,332$17,714
8 years$22,129$20,429$18,852$17,391$16,038$14,489
9 years$19,471$17,787$16,237$14,813$13,506$12,026
10 years$17,346$15,679$14,156$12,769$11,508$10,095
11 years$15,608$13,958$12,463$11,113$9,897$8,550
12 years$14,161$12,528$11,060$9,747$8,577$7,295
13 years$12,938$11,321$9,882$8,606$7,479$6,261
14 years$11,890$10,291$8,879$7,639$6,556$5,399
15 years$10,983$9,401$8,016$6,813$5,772$4,676
16 years$10,190$8,625$7,268$6,100$5,102$4,063
17 years$9,491$7,943$6,614$5,481$4,524$3,541
18 years$8,870$7,340$6,037$4,939$4,022$3,094
19 years$8,316$6,803$5,527$4,463$3,585$2,709
20 years$7,817$6,321$5,072$4,042$3,202$2,377
21 years$7,366$5,888$4,666$3,669$2,866$2,088
22 years$6,957$5,496$4,300$3,336$2,569$1,838
23 years$6,585$5,141$3,970$3,038$2,306$1,619
24 years$6,243$4,816$3,672$2,771$2,072$1,428
25 years$5,930$4,520$3,401$2,530$1,865$1,260
26 years$5,641$4,248$3,154$2,314$1,680$1,113
27 years$5,374$3,998$2,929$2,118$1,514$984
28 years$5,126$3,767$2,723$1,940$1,367$871
29 years$4,896$3,554$2,534$1,779$1,234$771
30 years$4,682$3,356$2,360$1,633$1,115$682
31 years$4,482$3,173$2,200$1,500$1,008$605
32 years$4,294$3,002$2,053$1,378$912$536
33 years$4,119$2,843$1,917$1,267$825$475
34 years$3,954$2,695$1,791$1,166$747$421
35 years$3,799$2,556$1,674$1,073$677$374
36 years$3,653$2,426$1,566$989$613$332
37 years$3,515$2,304$1,466$911$556$294
38 years$3,385$2,190$1,373$840$504$261
39 years$3,261$2,082$1,286$774$457$232
40 years$3,144$1,981$1,206$714$414$206
41 years$3,034$1,886$1,131$659$376$183
42 years$2,928$1,796$1,060$608$341$162
43 years$2,828$1,711$995$561$310$144
44 years$2,733$1,631$934$518$281$128
45 years$2,642$1,555$877$479$255$114
46 years$2,555$1,484$824$442$232$101
47 years$2,473$1,416$774$408$210$90
48 years$2,393$1,352$727$377$191$80
49 years$2,318$1,291$684$349$173$71
50 years$2,246$1,233$643$322$158$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,300,000, adding $3,506 every year, while hoping to spend $58,026 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: 61/15/24 Blend
65$2,300,000$2,300,000$2,300,000$2,300,000
66$2,538,216$2,416,316$2,380,666$2,676,667
67$2,735,375$2,472,977$2,398,680$2,827,657
68$2,950,700$2,530,469$2,415,351$2,985,735
69$3,185,981$2,588,772$2,430,576$3,157,001
70$3,443,192$2,647,862$2,444,241$3,342,752
71$3,724,504$2,707,714$2,456,229$3,544,412
72$4,032,308$2,768,296$2,466,417$3,763,555
73$4,369,237$2,829,576$2,474,676$4,001,912
74$4,738,190$2,891,517$2,480,869$4,261,394
75$5,142,360$2,954,076$2,484,852$4,544,105
76$5,585,263$3,017,208$2,486,477$4,852,363
77$6,070,771$3,080,862$2,485,586$5,188,726
78$6,603,149$3,144,984$2,482,012$5,556,010
79$7,187,094$3,209,512$2,475,584$5,957,321
80$7,827,780$3,274,381$2,466,118$6,396,081
81$8,530,906$3,339,517$2,453,425$6,876,063
82$9,302,748$3,404,843$2,437,304$7,401,424
83$10,150,221$3,470,273$2,417,547$7,976,747
84$11,080,942$3,535,715$2,393,933$8,607,085
85$12,103,301$3,601,068$2,366,233$9,298,004
86$13,226,543$3,666,226$2,334,207$10,055,641
87$14,460,849$3,731,070$2,297,602$10,886,763
88$15,817,438$3,795,475$2,256,154$11,798,823
89$17,308,670$3,859,306$2,209,588$12,800,042
90$18,948,159$3,922,417$2,157,614$13,899,477
91$20,750,907$3,984,651$2,099,930$15,107,113
92$22,733,442$4,045,841$2,036,220$16,433,956
93$24,913,973$4,105,807$1,966,153$17,892,136
94$27,312,562$4,164,355$1,889,382$19,495,024
95$29,951,313$4,221,279$1,805,547$21,257,357
96$32,854,583$4,276,358$1,714,269$23,195,379
97$36,049,206$4,329,355$1,615,153$25,326,993
98$39,564,750$4,380,017$1,507,784$27,671,935
99$43,433,792$4,428,076$1,391,733$30,251,954
100$47,692,230$4,473,243$1,266,547$33,091,024