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%15.2%
1 years$193,235$191,514$189,834$188,195$186,595$182,604
2 years$95,661$93,879$92,153$90,479$88,855$84,853
3 years$63,140$61,351$59,629$57,970$56,373$52,486
4 years$46,883$45,100$43,395$41,764$40,206$36,463
5 years$37,132$35,359$33,676$32,079$30,564$26,976
6 years$30,633$28,873$27,215$25,654$24,184$20,755
7 years$25,992$24,247$22,616$21,092$19,668$16,399
8 years$22,514$20,785$19,180$17,693$16,317$13,205
9 years$19,810$18,097$16,520$15,071$13,741$10,786
10 years$17,647$15,951$14,402$12,991$11,708$8,906
11 years$15,880$14,201$12,680$11,306$10,069$7,417
12 years$14,408$12,746$11,253$9,917$8,726$6,219
13 years$13,163$11,518$10,054$8,755$7,609$5,244
14 years$12,097$10,470$9,033$7,772$6,670$4,441
15 years$11,174$9,564$8,156$6,931$5,873$3,775
16 years$10,367$8,775$7,394$6,206$5,190$3,219
17 years$9,656$8,082$6,729$5,576$4,602$2,752
18 years$9,024$7,468$6,142$5,025$4,092$2,358
19 years$8,460$6,921$5,623$4,541$3,647$2,025
20 years$7,953$6,431$5,161$4,112$3,258$1,741
21 years$7,495$5,991$4,747$3,732$2,915$1,499
22 years$7,078$5,592$4,375$3,394$2,613$1,292
23 years$6,699$5,230$4,039$3,091$2,346$1,114
24 years$6,352$4,900$3,736$2,819$2,108$962
25 years$6,033$4,599$3,460$2,574$1,897$831
26 years$5,739$4,322$3,209$2,354$1,709$719
27 years$5,467$4,067$2,980$2,154$1,541$622
28 years$5,215$3,833$2,770$1,974$1,390$538
29 years$4,981$3,616$2,578$1,810$1,255$466
30 years$4,763$3,415$2,401$1,661$1,134$404
31 years$4,560$3,228$2,239$1,526$1,026$350
32 years$4,369$3,054$2,089$1,402$928$303
33 years$4,191$2,893$1,950$1,289$840$263
34 years$4,023$2,741$1,822$1,186$760$228
35 years$3,865$2,600$1,704$1,092$688$198
36 years$3,716$2,468$1,594$1,006$624$171
37 years$3,576$2,344$1,492$927$565$149
38 years$3,444$2,228$1,397$854$513$129
39 years$3,318$2,118$1,309$788$465$112
40 years$3,199$2,015$1,227$726$422$97
41 years$3,086$1,918$1,150$670$382$84
42 years$2,979$1,827$1,079$619$347$73
43 years$2,877$1,741$1,012$571$315$63
44 years$2,780$1,659$950$527$286$55
45 years$2,688$1,582$892$487$260$48
46 years$2,600$1,510$838$450$236$41
47 years$2,516$1,441$787$416$214$36
48 years$2,435$1,375$740$384$194$31
49 years$2,358$1,313$695$355$177$27
50 years$2,285$1,254$654$328$160$24

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 $2,693 every year, while hoping to spend $37,055 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: 37/37/26 Blend
65$2,340,000$2,340,000$2,340,000$2,340,000
66$2,581,458$2,457,438$2,421,168$2,656,782
67$2,805,340$2,538,426$2,462,851$2,793,428
68$3,050,817$2,622,141$2,504,688$2,937,333
69$3,320,051$2,708,676$2,546,646$3,092,054
70$3,615,426$2,798,131$2,588,688$3,258,593
71$3,939,565$2,890,606$2,630,775$3,438,047
72$4,295,361$2,986,206$2,672,867$3,631,626
73$4,685,998$3,085,040$2,714,918$3,840,658
74$5,114,984$3,187,221$2,756,882$4,066,605
75$5,586,184$3,292,866$2,798,709$4,311,075
76$6,103,854$3,402,096$2,840,345$4,575,836
77$6,672,685$3,515,037$2,881,734$4,862,835
78$7,297,843$3,631,818$2,922,817$5,174,211
79$7,985,021$3,752,574$2,963,528$5,512,323
80$8,740,488$3,877,446$3,003,802$5,879,762
81$9,571,155$4,006,578$3,043,566$6,279,383
82$10,484,632$4,140,119$3,082,745$6,714,327
83$11,489,307$4,278,227$3,121,259$7,188,054
84$12,594,419$4,421,063$3,159,024$7,704,370
85$13,810,147$4,568,793$3,195,949$8,267,468
86$15,147,710$4,721,591$3,231,941$8,881,963
87$16,619,465$4,879,638$3,266,900$9,552,938
88$18,239,030$5,043,120$3,300,720$10,285,989
89$20,021,409$5,212,230$3,333,292$11,087,279
90$21,983,133$5,387,170$3,364,498$11,963,595
91$24,142,419$5,568,147$3,394,215$12,922,414
92$26,519,337$5,755,378$3,422,312$13,971,968
93$29,136,004$5,949,087$3,448,655$15,121,324
94$32,016,790$6,149,506$3,473,098$16,380,472
95$35,188,547$6,356,875$3,495,491$17,760,413
96$38,680,863$6,571,447$3,515,675$19,273,267
97$42,526,343$6,793,480$3,533,481$20,932,382
98$46,760,913$7,023,243$3,548,736$22,752,466
99$51,424,160$7,261,016$3,561,253$24,749,719
100$56,559,709$7,507,090$3,570,839$26,941,988