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

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$199,841$198,061$196,325$194,629$192,974$188,769
2 years$98,931$97,089$95,303$93,572$91,892$87,677
3 years$65,299$63,449$61,667$59,952$58,300$54,207
4 years$48,486$46,641$44,878$43,192$41,580$37,639
5 years$38,401$36,567$34,827$33,176$31,609$27,832
6 years$31,680$29,860$28,146$26,531$25,011$21,402
7 years$26,881$25,076$23,389$21,813$20,341$16,900
8 years$23,283$21,495$19,836$18,298$16,874$13,601
9 years$20,487$18,715$17,085$15,586$14,211$11,103
10 years$18,251$16,497$14,895$13,435$12,108$9,162
11 years$16,423$14,686$13,113$11,693$10,413$7,625
12 years$14,900$13,181$11,638$10,256$9,024$6,390
13 years$13,613$11,912$10,397$9,055$7,869$5,384
14 years$12,510$10,828$9,342$8,038$6,898$4,557
15 years$11,556$9,891$8,435$7,168$6,074$3,871
16 years$10,722$9,075$7,647$6,418$5,368$3,299
17 years$9,986$8,358$6,959$5,767$4,760$2,818
18 years$9,333$7,723$6,352$5,197$4,232$2,413
19 years$8,749$7,158$5,815$4,696$3,772$2,070
20 years$8,225$6,651$5,337$4,253$3,369$1,778
21 years$7,751$6,195$4,909$3,860$3,015$1,530
22 years$7,320$5,783$4,524$3,510$2,703$1,318
23 years$6,928$5,409$4,177$3,196$2,426$1,136
24 years$6,569$5,068$3,863$2,915$2,181$980
25 years$6,239$4,756$3,578$2,662$1,962$846
26 years$5,935$4,470$3,319$2,434$1,767$731
27 years$5,654$4,207$3,082$2,228$1,594$632
28 years$5,394$3,964$2,865$2,041$1,438$546
29 years$5,152$3,739$2,666$1,872$1,298$473
30 years$4,926$3,531$2,483$1,718$1,173$409
31 years$4,716$3,338$2,315$1,578$1,061$354
32 years$4,519$3,159$2,160$1,450$959$307
33 years$4,334$2,991$2,017$1,334$868$266
34 years$4,160$2,835$1,884$1,227$786$230
35 years$3,997$2,689$1,762$1,129$712$199
36 years$3,844$2,552$1,648$1,040$645$173
37 years$3,698$2,424$1,543$958$585$150
38 years$3,561$2,304$1,445$883$530$130
39 years$3,432$2,191$1,353$815$481$112
40 years$3,309$2,084$1,269$751$436$97
41 years$3,192$1,984$1,190$693$396$85
42 years$3,081$1,890$1,116$640$359$73
43 years$2,976$1,800$1,047$591$326$64
44 years$2,875$1,716$983$545$296$55
45 years$2,780$1,636$923$504$268$48
46 years$2,689$1,561$867$465$244$41
47 years$2,602$1,490$814$430$221$36
48 years$2,518$1,422$765$397$201$31
49 years$2,439$1,358$719$367$183$27
50 years$2,363$1,297$676$339$166$23

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 $3,552 every year, while hoping to spend $44,961 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: 70/5/25 Blend
65$2,420,000$2,420,000$2,420,000$2,420,000
66$2,670,504$2,542,244$2,504,734$2,840,227
67$2,895,057$2,618,976$2,540,804$3,031,026
68$3,141,008$2,697,960$2,576,576$3,234,262
69$3,410,491$2,779,261$2,611,992$3,455,684
70$3,705,859$2,862,942$2,646,991$3,697,094
71$4,029,700$2,949,070$2,681,509$3,960,477
72$4,384,866$3,037,712$2,715,477$4,248,019
73$4,774,501$3,128,937$2,748,823$4,562,128
74$5,202,062$3,222,818$2,781,471$4,905,458
75$5,671,363$3,319,426$2,813,341$5,280,932
76$6,186,601$3,418,837$2,844,347$5,691,770
77$6,752,402$3,521,128$2,874,400$6,141,523
78$7,373,859$3,626,375$2,903,404$6,634,098
79$8,056,585$3,734,660$2,931,261$7,173,805
80$8,806,763$3,846,065$2,957,865$7,765,389
81$9,631,204$3,960,673$2,983,104$8,414,080
82$10,537,412$4,078,571$3,006,863$9,125,643
83$11,533,654$4,199,846$3,029,019$9,906,426
84$12,629,037$4,324,589$3,049,441$10,763,427
85$13,833,596$4,452,891$3,067,995$11,704,357
86$15,158,386$4,584,847$3,084,536$12,737,712
87$16,615,589$4,720,552$3,098,915$13,872,855
88$18,218,624$4,860,104$3,110,974$15,120,102
89$19,982,279$5,003,604$3,120,547$16,490,823
90$21,922,845$5,151,154$3,127,459$17,997,545
91$24,058,274$5,302,859$3,131,527$19,654,076
92$26,408,344$5,458,826$3,132,560$21,475,628
93$28,994,850$5,619,163$3,130,355$23,478,968
94$31,841,804$5,783,981$3,124,701$25,682,569
95$34,975,666$5,953,394$3,115,377$28,106,793
96$38,425,590$6,127,517$3,102,149$30,774,075
97$42,223,703$6,306,468$3,084,773$33,709,141
98$46,405,402$6,490,367$3,062,995$36,939,236
99$51,009,694$6,679,335$3,036,546$40,494,389
100$56,079,558$6,873,498$3,005,145$44,407,687