Can I retire at age 66 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$191,583$189,877$188,212$186,587$185,000$182,085
2 years$94,843$93,077$91,365$89,705$88,095$85,166
3 years$62,601$60,827$59,119$57,475$55,891$53,039
4 years$46,483$44,714$43,024$41,408$39,862$37,109
5 years$36,814$35,056$33,388$31,805$30,303$27,656
6 years$30,371$28,626$26,983$25,435$23,977$21,441
7 years$25,770$24,040$22,423$20,911$19,500$17,074
8 years$22,321$20,607$19,016$17,542$16,177$13,861
9 years$19,640$17,942$16,379$14,942$13,624$11,417
10 years$17,497$15,815$14,279$12,880$11,608$9,508
11 years$15,744$14,079$12,571$11,209$9,983$7,989
12 years$14,284$12,637$11,157$9,832$8,651$6,759
13 years$13,050$11,420$9,968$8,680$7,544$5,752
14 years$11,994$10,380$8,956$7,705$6,613$4,918
15 years$11,078$9,483$8,086$6,872$5,823$4,221
16 years$10,278$8,700$7,331$6,153$5,146$3,635
17 years$9,573$8,013$6,671$5,528$4,563$3,140
18 years$8,947$7,404$6,090$4,982$4,057$2,718
19 years$8,388$6,862$5,575$4,502$3,616$2,357
20 years$7,885$6,376$5,116$4,077$3,230$2,048
21 years$7,431$5,939$4,706$3,700$2,891$1,782
22 years$7,018$5,544$4,337$3,365$2,591$1,553
23 years$6,642$5,185$4,005$3,064$2,326$1,354
24 years$6,298$4,858$3,704$2,795$2,090$1,182
25 years$5,981$4,559$3,430$2,552$1,881$1,033
26 years$5,690$4,285$3,182$2,334$1,694$903
27 years$5,420$4,033$2,954$2,136$1,528$790
28 years$5,171$3,800$2,746$1,957$1,378$692
29 years$4,939$3,585$2,556$1,795$1,245$606
30 years$4,723$3,386$2,381$1,647$1,125$531
31 years$4,521$3,200$2,219$1,513$1,017$465
32 years$4,332$3,028$2,071$1,390$920$408
33 years$4,155$2,868$1,933$1,278$832$358
34 years$3,989$2,718$1,807$1,176$754$314
35 years$3,832$2,578$1,689$1,083$683$275
36 years$3,685$2,447$1,580$997$618$242
37 years$3,546$2,324$1,479$919$561$212
38 years$3,414$2,209$1,385$847$508$186
39 years$3,290$2,100$1,297$781$461$163
40 years$3,172$1,998$1,216$720$418$144
41 years$3,060$1,902$1,140$665$379$126
42 years$2,954$1,811$1,070$613$344$111
43 years$2,853$1,726$1,004$566$312$97
44 years$2,756$1,645$942$523$283$85
45 years$2,665$1,569$885$483$257$75
46 years$2,577$1,497$831$446$234$66
47 years$2,494$1,428$781$412$212$58
48 years$2,414$1,363$734$381$193$51
49 years$2,338$1,302$690$352$175$45
50 years$2,265$1,244$648$325$159$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,320,000, adding $5,016 every year, while hoping to spend $23,044 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: 37/44/19 Blend
65$2,320,000$2,320,000$2,320,000$2,320,000
66$2,561,814$2,438,854$2,402,894$2,641,736
67$2,798,600$2,533,839$2,458,872$2,795,067
68$3,058,767$2,632,706$2,515,954$2,958,039
69$3,344,673$2,735,621$2,574,150$3,133,597
70$3,658,920$2,842,757$2,633,475$3,322,881
71$4,004,373$2,954,295$2,693,939$3,527,146
72$4,384,188$3,070,425$2,755,555$3,747,769
73$4,801,842$3,191,342$2,818,333$3,986,260
74$5,261,166$3,317,254$2,882,283$4,244,280
75$5,766,382$3,448,376$2,947,417$4,523,650
76$6,322,140$3,584,934$3,013,742$4,826,373
77$6,933,564$3,727,162$3,081,268$5,154,649
78$7,606,301$3,875,305$3,150,004$5,510,894
79$8,346,570$4,029,622$3,219,955$5,897,765
80$9,161,226$4,190,379$3,291,130$6,318,182
81$10,057,821$4,357,858$3,363,533$6,775,354
82$11,044,676$4,532,351$3,437,169$7,272,811
83$12,130,961$4,714,164$3,512,042$7,814,434
84$13,326,778$4,903,617$3,588,154$8,404,490
85$14,643,261$5,101,045$3,665,508$9,047,673
86$16,092,674$5,306,797$3,744,104$9,749,146
87$17,688,536$5,521,239$3,823,940$10,514,589
88$19,445,739$5,744,753$3,905,015$11,350,250
89$21,380,696$5,977,737$3,987,324$12,263,005
90$23,511,490$6,220,609$4,070,863$13,260,420
91$25,858,049$6,473,806$4,155,624$14,350,819
92$28,442,332$6,737,784$4,241,599$15,543,365
93$31,288,534$7,013,020$4,328,777$16,848,142
94$34,423,319$7,300,012$4,417,145$18,276,250
95$37,876,067$7,599,283$4,506,690$19,839,906
96$41,679,156$7,911,377$4,597,393$21,552,559
97$45,868,261$8,236,866$4,689,237$23,429,017
98$50,482,696$8,576,345$4,782,199$25,485,580
99$55,565,784$8,930,439$4,876,256$27,740,196
100$61,165,263$9,299,800$4,971,379$30,212,625