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

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$193,235$191,514$189,834$188,195$186,595$185,186
2 years$95,661$93,879$92,153$90,479$88,855$87,434
3 years$63,140$61,351$59,629$57,970$56,373$54,985
4 years$46,883$45,100$43,395$41,764$40,206$38,861
5 years$37,132$35,359$33,676$32,079$30,564$29,266
6 years$30,633$28,873$27,215$25,654$24,184$22,935
7 years$25,992$24,247$22,616$21,092$19,668$18,469
8 years$22,514$20,785$19,180$17,693$16,317$15,166
9 years$19,810$18,097$16,520$15,071$13,741$12,640
10 years$17,647$15,951$14,402$12,991$11,708$10,655
11 years$15,880$14,201$12,680$11,306$10,069$9,064
12 years$14,408$12,746$11,253$9,917$8,726$7,767
13 years$13,163$11,518$10,054$8,755$7,609$6,696
14 years$12,097$10,470$9,033$7,772$6,670$5,802
15 years$11,174$9,564$8,156$6,931$5,873$5,048
16 years$10,367$8,775$7,394$6,206$5,190$4,408
17 years$9,656$8,082$6,729$5,576$4,602$3,860
18 years$9,024$7,468$6,142$5,025$4,092$3,390
19 years$8,460$6,921$5,623$4,541$3,647$2,983
20 years$7,953$6,431$5,161$4,112$3,258$2,630
21 years$7,495$5,991$4,747$3,732$2,915$2,323
22 years$7,078$5,592$4,375$3,394$2,613$2,055
23 years$6,699$5,230$4,039$3,091$2,346$1,820
24 years$6,352$4,900$3,736$2,819$2,108$1,614
25 years$6,033$4,599$3,460$2,574$1,897$1,432
26 years$5,739$4,322$3,209$2,354$1,709$1,272
27 years$5,467$4,067$2,980$2,154$1,541$1,131
28 years$5,215$3,833$2,770$1,974$1,390$1,006
29 years$4,981$3,616$2,578$1,810$1,255$896
30 years$4,763$3,415$2,401$1,661$1,134$798
31 years$4,560$3,228$2,239$1,526$1,026$711
32 years$4,369$3,054$2,089$1,402$928$634
33 years$4,191$2,893$1,950$1,289$840$565
34 years$4,023$2,741$1,822$1,186$760$504
35 years$3,865$2,600$1,704$1,092$688$450
36 years$3,716$2,468$1,594$1,006$624$401
37 years$3,576$2,344$1,492$927$565$358
38 years$3,444$2,228$1,397$854$513$320
39 years$3,318$2,118$1,309$788$465$286
40 years$3,199$2,015$1,227$726$422$255
41 years$3,086$1,918$1,150$670$382$228
42 years$2,979$1,827$1,079$619$347$204
43 years$2,877$1,741$1,012$571$315$182
44 years$2,780$1,659$950$527$286$163
45 years$2,688$1,582$892$487$260$145
46 years$2,600$1,510$838$450$236$130
47 years$2,516$1,441$787$416$214$116
48 years$2,435$1,375$740$384$194$104
49 years$2,358$1,313$695$355$177$93
50 years$2,285$1,254$654$328$160$83

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 $4,000 every year, while hoping to spend $42,112 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: 72/16/12 Blend
65$2,340,000$2,340,000$2,340,000$2,340,000
66$2,582,806$2,458,786$2,422,516$2,762,073
67$2,801,445$2,534,460$2,458,863$2,956,933
68$3,040,975$2,612,430$2,495,017$3,164,676
69$3,303,480$2,692,765$2,530,926$3,391,019
70$3,591,259$2,775,534$2,566,536$3,637,791
71$3,906,842$2,860,811$2,601,790$3,907,004
72$4,253,018$2,948,668$2,636,627$4,200,876
73$4,632,854$3,039,182$2,670,984$4,521,847
74$5,049,735$3,132,430$2,704,791$4,872,605
75$5,507,383$3,228,495$2,737,976$5,256,111
76$6,009,902$3,327,458$2,770,465$5,675,623
77$6,561,813$3,429,404$2,802,176$6,134,734
78$7,168,094$3,534,421$2,833,025$6,637,397
79$7,834,230$3,642,598$2,862,922$7,187,970
80$8,566,265$3,754,028$2,891,773$7,791,251
81$9,370,855$3,868,806$2,919,478$8,452,525
82$10,255,334$3,987,030$2,945,933$9,177,616
83$11,227,782$4,108,798$2,971,026$9,972,936
84$12,297,102$4,234,216$2,994,641$10,845,554
85$13,473,101$4,363,387$3,016,657$11,803,253
86$14,766,586$4,496,421$3,036,943$12,854,611
87$16,189,461$4,633,430$3,055,364$14,009,074
88$17,754,846$4,774,527$3,071,778$15,277,054
89$19,477,192$4,919,831$3,086,035$16,670,020
90$21,372,426$5,069,463$3,097,977$18,200,607
91$23,458,093$5,223,546$3,107,439$19,882,739
92$25,753,527$5,382,208$3,114,247$21,731,756
93$28,280,030$5,545,580$3,118,218$23,764,559
94$31,061,076$5,713,796$3,119,161$25,999,772
95$34,122,527$5,886,994$3,116,874$28,457,914
96$37,492,883$6,065,315$3,111,148$31,161,595
97$41,203,546$6,248,904$3,101,760$34,135,729
98$45,289,118$6,437,911$3,088,479$37,407,766
99$49,787,726$6,632,487$3,071,061$41,007,954
100$54,741,385$6,832,789$3,049,253$44,969,624