Can I retire at age 66 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$193,235$191,514$189,834$188,195$186,595$181,349
2 years$95,661$93,879$92,153$90,479$88,855$83,609
3 years$63,140$61,351$59,629$57,970$56,373$51,293
4 years$46,883$45,100$43,395$41,764$40,206$35,330
5 years$37,132$35,359$33,676$32,079$30,564$25,905
6 years$30,633$28,873$27,215$25,654$24,184$19,747
7 years$25,992$24,247$22,616$21,092$19,668$15,453
8 years$22,514$20,785$19,180$17,693$16,317$12,321
9 years$19,810$18,097$16,520$15,071$13,741$9,961
10 years$17,647$15,951$14,402$12,991$11,708$8,138
11 years$15,880$14,201$12,680$11,306$10,069$6,704
12 years$14,408$12,746$11,253$9,917$8,726$5,559
13 years$13,163$11,518$10,054$8,755$7,609$4,634
14 years$12,097$10,470$9,033$7,772$6,670$3,879
15 years$11,174$9,564$8,156$6,931$5,873$3,259
16 years$10,367$8,775$7,394$6,206$5,190$2,746
17 years$9,656$8,082$6,729$5,576$4,602$2,319
18 years$9,024$7,468$6,142$5,025$4,092$1,962
19 years$8,460$6,921$5,623$4,541$3,647$1,663
20 years$7,953$6,431$5,161$4,112$3,258$1,411
21 years$7,495$5,991$4,747$3,732$2,915$1,199
22 years$7,078$5,592$4,375$3,394$2,613$1,020
23 years$6,699$5,230$4,039$3,091$2,346$869
24 years$6,352$4,900$3,736$2,819$2,108$740
25 years$6,033$4,599$3,460$2,574$1,897$631
26 years$5,739$4,322$3,209$2,354$1,709$538
27 years$5,467$4,067$2,980$2,154$1,541$459
28 years$5,215$3,833$2,770$1,974$1,390$392
29 years$4,981$3,616$2,578$1,810$1,255$335
30 years$4,763$3,415$2,401$1,661$1,134$286
31 years$4,560$3,228$2,239$1,526$1,026$244
32 years$4,369$3,054$2,089$1,402$928$209
33 years$4,191$2,893$1,950$1,289$840$178
34 years$4,023$2,741$1,822$1,186$760$152
35 years$3,865$2,600$1,704$1,092$688$130
36 years$3,716$2,468$1,594$1,006$624$111
37 years$3,576$2,344$1,492$927$565$95
38 years$3,444$2,228$1,397$854$513$81
39 years$3,318$2,118$1,309$788$465$70
40 years$3,199$2,015$1,227$726$422$60
41 years$3,086$1,918$1,150$670$382$51
42 years$2,979$1,827$1,079$619$347$44
43 years$2,877$1,741$1,012$571$315$37
44 years$2,780$1,659$950$527$286$32
45 years$2,688$1,582$892$487$260$27
46 years$2,600$1,510$838$450$236$23
47 years$2,516$1,441$787$416$214$20
48 years$2,435$1,375$740$384$194$17
49 years$2,358$1,313$695$355$177$15
50 years$2,285$1,254$654$328$160$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,340,000, adding $6,375 every year, while hoping to spend $26,563 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: 30/40/30 Blend
65$2,340,000$2,340,000$2,340,000$2,340,000
66$2,585,256$2,461,236$2,424,966$2,638,885
67$2,820,689$2,553,574$2,477,939$2,773,987
68$3,079,246$2,649,546$2,531,797$2,916,488
69$3,363,258$2,749,302$2,586,541$3,069,269
70$3,675,292$2,852,999$2,642,171$3,233,244
71$4,018,176$2,960,800$2,698,688$3,409,417
72$4,395,026$3,072,876$2,756,091$3,598,889
73$4,809,275$3,189,403$2,814,377$3,802,869
74$5,264,706$3,310,569$2,873,543$4,022,684
75$5,765,484$3,436,565$2,933,585$4,259,792
76$6,316,201$3,567,594$2,994,497$4,515,793
77$6,921,913$3,703,866$3,056,273$4,792,446
78$7,588,195$3,845,602$3,118,904$5,091,683
79$8,321,185$3,993,030$3,182,382$5,415,627
80$9,127,648$4,146,391$3,246,694$5,766,612
81$10,015,038$4,305,934$3,311,828$6,147,203
82$10,991,568$4,471,921$3,377,770$6,560,219
83$12,066,286$4,644,623$3,444,504$7,008,763
84$13,249,163$4,824,325$3,512,010$7,496,244
85$14,551,185$5,011,325$3,580,270$8,026,412
86$15,984,457$5,205,931$3,649,261$8,603,393
87$17,562,318$5,408,469$3,718,957$9,231,725
88$19,299,466$5,619,275$3,789,334$9,916,400
89$21,212,095$5,838,703$3,860,360$10,662,912
90$23,318,051$6,067,122$3,932,004$11,477,305
91$25,636,998$6,304,916$4,004,232$12,366,231
92$28,190,603$6,552,488$4,077,005$13,337,010
93$31,002,743$6,810,258$4,150,283$14,397,700
94$34,099,727$7,078,665$4,224,022$15,557,170
95$37,510,547$7,358,167$4,298,174$16,825,181
96$41,267,148$7,649,243$4,372,689$18,212,480
97$45,404,735$7,952,394$4,447,511$19,730,898
98$49,962,098$8,268,141$4,522,583$21,393,462
99$54,981,983$8,597,032$4,597,841$23,214,513
100$60,511,495$8,939,636$4,673,218$25,209,842