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%18.9%
1 years$199,841$198,061$196,325$194,629$192,974$186,053
2 years$98,931$97,089$95,303$93,572$91,892$84,995
3 years$65,299$63,449$61,667$59,952$58,300$51,642
4 years$48,486$46,641$44,878$43,192$41,580$35,213
5 years$38,401$36,567$34,827$33,176$31,609$25,549
6 years$31,680$29,860$28,146$26,531$25,011$19,263
7 years$26,881$25,076$23,389$21,813$20,341$14,903
8 years$23,283$21,495$19,836$18,298$16,874$11,743
9 years$20,487$18,715$17,085$15,586$14,211$9,379
10 years$18,251$16,497$14,895$13,435$12,108$7,567
11 years$16,423$14,686$13,113$11,693$10,413$6,154
12 years$14,900$13,181$11,638$10,256$9,024$5,035
13 years$13,613$11,912$10,397$9,055$7,869$4,141
14 years$12,510$10,828$9,342$8,038$6,898$3,419
15 years$11,556$9,891$8,435$7,168$6,074$2,831
16 years$10,722$9,075$7,647$6,418$5,368$2,351
17 years$9,986$8,358$6,959$5,767$4,760$1,957
18 years$9,333$7,723$6,352$5,197$4,232$1,631
19 years$8,749$7,158$5,815$4,696$3,772$1,362
20 years$8,225$6,651$5,337$4,253$3,369$1,138
21 years$7,751$6,195$4,909$3,860$3,015$953
22 years$7,320$5,783$4,524$3,510$2,703$798
23 years$6,928$5,409$4,177$3,196$2,426$668
24 years$6,569$5,068$3,863$2,915$2,181$561
25 years$6,239$4,756$3,578$2,662$1,962$470
26 years$5,935$4,470$3,319$2,434$1,767$395
27 years$5,654$4,207$3,082$2,228$1,594$331
28 years$5,394$3,964$2,865$2,041$1,438$278
29 years$5,152$3,739$2,666$1,872$1,298$234
30 years$4,926$3,531$2,483$1,718$1,173$196
31 years$4,716$3,338$2,315$1,578$1,061$165
32 years$4,519$3,159$2,160$1,450$959$139
33 years$4,334$2,991$2,017$1,334$868$117
34 years$4,160$2,835$1,884$1,227$786$98
35 years$3,997$2,689$1,762$1,129$712$82
36 years$3,844$2,552$1,648$1,040$645$69
37 years$3,698$2,424$1,543$958$585$58
38 years$3,561$2,304$1,445$883$530$49
39 years$3,432$2,191$1,353$815$481$41
40 years$3,309$2,084$1,269$751$436$35
41 years$3,192$1,984$1,190$693$396$29
42 years$3,081$1,890$1,116$640$359$24
43 years$2,976$1,800$1,047$591$326$21
44 years$2,875$1,716$983$545$296$17
45 years$2,780$1,636$923$504$268$15
46 years$2,689$1,561$867$465$244$12
47 years$2,602$1,490$814$430$221$10
48 years$2,518$1,422$765$397$201$9
49 years$2,439$1,358$719$367$183$7
50 years$2,363$1,297$676$339$166$6

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 $6,699 every year, while hoping to spend $29,023 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: 71/23/6 Blend
65$2,420,000$2,420,000$2,420,000$2,420,000
66$2,673,750$2,545,490$2,507,980$2,861,074
67$2,915,592$2,639,339$2,561,117$3,079,472
68$3,181,130$2,736,813$2,615,062$3,314,180
69$3,472,749$2,838,061$2,669,810$3,570,258
70$3,793,078$2,943,235$2,725,357$3,849,798
71$4,145,013$3,052,494$2,781,698$4,155,105
72$4,531,744$3,166,006$2,838,824$4,488,715
73$4,956,786$3,283,945$2,896,729$4,853,419
74$5,424,010$3,406,490$2,955,402$5,252,291
75$5,937,683$3,533,832$3,014,832$5,688,711
76$6,502,504$3,666,167$3,075,005$6,166,405
77$7,123,650$3,803,700$3,135,909$6,689,472
78$7,806,827$3,946,646$3,197,527$7,262,426
79$8,558,320$4,095,229$3,259,841$7,890,239
80$9,385,054$4,249,680$3,322,831$8,578,384
81$10,294,659$4,410,244$3,386,475$9,332,887
82$11,295,542$4,577,174$3,450,750$10,160,388
83$12,396,967$4,750,734$3,515,629$11,068,195
84$13,609,138$4,931,201$3,581,083$12,064,360
85$14,943,304$5,118,863$3,647,083$13,157,748
86$16,411,854$5,314,021$3,713,593$14,358,127
87$18,028,443$5,516,987$3,780,579$15,676,252
88$19,808,115$5,728,091$3,847,999$17,123,972
89$21,767,448$5,947,672$3,915,812$18,714,337
90$23,924,708$6,176,089$3,983,973$20,461,722
91$26,300,024$6,413,713$4,052,431$22,381,964
92$28,915,575$6,660,933$4,121,136$24,492,505
93$31,795,799$6,918,155$4,190,030$26,812,563
94$34,967,628$7,185,801$4,259,053$29,363,308
95$38,460,736$7,464,316$4,328,141$32,168,059
96$42,307,823$7,754,159$4,397,226$35,252,510
97$46,544,921$8,055,813$4,466,233$38,644,965
98$51,211,737$8,369,783$4,535,087$42,376,607
99$56,352,025$8,696,592$4,603,702$46,481,793
100$62,013,997$9,036,791$4,671,992$50,998,373