Can I retire at age 66 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$199,841$198,061$196,325$194,629$192,974$190,248
2 years$98,931$97,089$95,303$93,572$91,892$89,151
3 years$65,299$63,449$61,667$59,952$58,300$55,629
4 years$48,486$46,641$44,878$43,192$41,580$38,999
5 years$38,401$36,567$34,827$33,176$31,609$29,126
6 years$31,680$29,860$28,146$26,531$25,011$22,629
7 years$26,881$25,076$23,389$21,813$20,341$18,061
8 years$23,283$21,495$19,836$18,298$16,874$14,696
9 years$20,487$18,715$17,085$15,586$14,211$12,133
10 years$18,251$16,497$14,895$13,435$12,108$10,130
11 years$16,423$14,686$13,113$11,693$10,413$8,532
12 years$14,900$13,181$11,638$10,256$9,024$7,238
13 years$13,613$11,912$10,397$9,055$7,869$6,175
14 years$12,510$10,828$9,342$8,038$6,898$5,294
15 years$11,556$9,891$8,435$7,168$6,074$4,557
16 years$10,722$9,075$7,647$6,418$5,368$3,935
17 years$9,986$8,358$6,959$5,767$4,760$3,408
18 years$9,333$7,723$6,352$5,197$4,232$2,959
19 years$8,749$7,158$5,815$4,696$3,772$2,574
20 years$8,225$6,651$5,337$4,253$3,369$2,243
21 years$7,751$6,195$4,909$3,860$3,015$1,957
22 years$7,320$5,783$4,524$3,510$2,703$1,711
23 years$6,928$5,409$4,177$3,196$2,426$1,497
24 years$6,569$5,068$3,863$2,915$2,181$1,311
25 years$6,239$4,756$3,578$2,662$1,962$1,149
26 years$5,935$4,470$3,319$2,434$1,767$1,008
27 years$5,654$4,207$3,082$2,228$1,594$884
28 years$5,394$3,964$2,865$2,041$1,438$777
29 years$5,152$3,739$2,666$1,872$1,298$683
30 years$4,926$3,531$2,483$1,718$1,173$600
31 years$4,716$3,338$2,315$1,578$1,061$528
32 years$4,519$3,159$2,160$1,450$959$464
33 years$4,334$2,991$2,017$1,334$868$408
34 years$4,160$2,835$1,884$1,227$786$359
35 years$3,997$2,689$1,762$1,129$712$316
36 years$3,844$2,552$1,648$1,040$645$279
37 years$3,698$2,424$1,543$958$585$245
38 years$3,561$2,304$1,445$883$530$216
39 years$3,432$2,191$1,353$815$481$190
40 years$3,309$2,084$1,269$751$436$168
41 years$3,192$1,984$1,190$693$396$148
42 years$3,081$1,890$1,116$640$359$130
43 years$2,976$1,800$1,047$591$326$115
44 years$2,875$1,716$983$545$296$101
45 years$2,780$1,636$923$504$268$89
46 years$2,689$1,561$867$465$244$79
47 years$2,602$1,490$814$430$221$69
48 years$2,518$1,422$765$397$201$61
49 years$2,439$1,358$719$367$183$54
50 years$2,363$1,297$676$339$166$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,420,000, adding $3,240 every year, while hoping to spend $49,653 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: 74/5/21 Blend
65$2,420,000$2,420,000$2,420,000$2,420,000
66$2,670,182$2,541,922$2,504,412$2,854,065
67$2,889,710$2,613,646$2,535,479$3,048,363
68$3,129,966$2,687,220$2,565,923$3,254,895
69$3,393,011$2,762,683$2,595,671$3,479,963
70$3,681,117$2,840,072$2,624,644$3,725,405
71$3,996,783$2,919,428$2,652,761$3,993,244
72$4,342,762$3,000,787$2,679,937$4,285,709
73$4,722,088$3,084,190$2,706,079$4,605,255
74$5,138,102$3,169,676$2,731,093$4,954,588
75$5,594,480$3,257,282$2,754,877$5,336,689
76$6,095,277$3,347,049$2,777,324$5,754,840
77$6,644,955$3,439,013$2,798,324$6,212,659
78$7,248,430$3,533,215$2,817,759$6,714,133
79$7,911,120$3,629,693$2,835,503$7,263,653
80$8,638,989$3,728,483$2,851,427$7,866,059
81$9,438,610$3,829,623$2,865,395$8,526,682
82$10,317,224$3,933,150$2,877,261$9,251,397
83$11,282,806$4,039,100$2,886,875$10,046,679
84$12,344,145$4,147,508$2,894,077$10,919,661
85$13,510,920$4,258,408$2,898,702$11,878,203
86$14,793,799$4,371,835$2,900,573$12,930,967
87$16,204,531$4,487,819$2,899,506$14,087,498
88$17,756,063$4,606,392$2,895,310$15,358,312
89$19,462,659$4,727,584$2,887,781$16,755,001
90$21,340,036$4,851,421$2,876,707$18,290,336
91$23,405,509$4,977,930$2,861,866$19,978,391
92$25,678,158$5,107,135$2,843,025$21,834,676
93$28,179,003$5,239,058$2,819,940$23,876,281
94$30,931,207$5,373,717$2,792,353$26,122,041
95$33,960,291$5,511,130$2,759,998$28,592,710
96$37,294,376$5,651,311$2,722,593$31,311,161
97$40,964,446$5,794,269$2,679,844$34,302,598
98$45,004,645$5,940,013$2,631,444$37,594,797
99$49,452,591$6,088,546$2,577,070$41,218,367
100$54,349,738$6,239,868$2,516,384$45,207,040