Can I retire at age 66 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$224,615$222,614$220,662$218,757$216,897$214,453
2 years$111,196$109,125$107,118$105,172$103,284$100,824
3 years$73,394$71,314$69,312$67,384$65,528$63,128
4 years$54,497$52,423$50,442$48,547$46,735$44,413
5 years$43,162$41,101$39,145$37,289$35,527$33,291
6 years$35,607$33,562$31,635$29,820$28,111$25,963
7 years$30,213$28,185$26,289$24,517$22,862$20,803
8 years$26,170$24,160$22,295$20,566$18,966$16,996
9 years$23,027$21,035$19,203$17,518$15,972$14,090
10 years$20,513$18,542$16,741$15,101$13,609$11,813
11 years$18,458$16,507$14,739$13,142$11,704$9,994
12 years$16,747$14,815$13,080$11,527$10,143$8,515
13 years$15,300$13,389$11,686$10,177$8,845$7,299
14 years$14,061$12,170$10,500$9,034$7,753$6,286
15 years$12,988$11,118$9,480$8,057$6,827$5,436
16 years$12,051$10,200$8,595$7,214$6,033$4,718
17 years$11,224$9,394$7,821$6,482$5,350$4,106
18 years$10,490$8,680$7,140$5,841$4,757$3,582
19 years$9,834$8,045$6,536$5,278$4,240$3,132
20 years$9,244$7,476$5,999$4,780$3,787$2,744
21 years$8,712$6,963$5,518$4,338$3,389$2,407
22 years$8,228$6,500$5,085$3,945$3,038$2,115
23 years$7,787$6,079$4,695$3,592$2,727$1,860
24 years$7,383$5,696$4,342$3,277$2,451$1,638
25 years$7,013$5,345$4,022$2,992$2,205$1,444
26 years$6,671$5,024$3,730$2,736$1,987$1,273
27 years$6,355$4,728$3,464$2,504$1,791$1,124
28 years$6,062$4,455$3,220$2,295$1,616$993
29 years$5,790$4,203$2,997$2,104$1,459$877
30 years$5,537$3,969$2,791$1,931$1,319$776
31 years$5,300$3,752$2,602$1,774$1,192$686
32 years$5,079$3,550$2,428$1,630$1,078$607
33 years$4,871$3,362$2,267$1,499$976$537
34 years$4,676$3,187$2,118$1,379$884$476
35 years$4,493$3,023$1,980$1,270$800$421
36 years$4,320$2,869$1,852$1,169$725$373
37 years$4,157$2,725$1,734$1,077$657$331
38 years$4,003$2,589$1,624$993$596$293
39 years$3,857$2,462$1,521$916$540$260
40 years$3,719$2,343$1,426$844$490$230
41 years$3,588$2,230$1,337$779$445$204
42 years$3,463$2,124$1,254$719$403$181
43 years$3,345$2,024$1,177$664$366$160
44 years$3,232$1,929$1,105$613$332$142
45 years$3,124$1,839$1,037$566$302$126
46 years$3,022$1,755$974$523$274$112
47 years$2,924$1,674$915$483$249$99
48 years$2,831$1,599$860$446$226$88
49 years$2,741$1,526$808$412$205$78
50 years$2,656$1,458$760$381$186$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,720,000, adding $4,351 every year, while hoping to spend $55,098 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: 72/9/19 Blend
65$2,720,000$2,720,000$2,720,000$2,720,000
66$3,001,928$2,857,768$2,815,608$3,204,161
67$3,249,501$2,939,175$2,851,307$3,420,605
68$3,520,479$3,022,724$2,886,355$3,650,536
69$3,817,193$3,108,462$2,920,673$3,900,954
70$4,142,207$3,196,437$2,954,175$4,173,883
71$4,498,345$3,286,695$2,986,773$4,471,550
72$4,888,719$3,379,286$3,018,373$4,796,411
73$5,316,754$3,474,257$3,048,875$5,151,169
74$5,786,225$3,571,657$3,078,174$5,538,802
75$6,301,287$3,671,536$3,106,160$5,962,591
76$6,866,519$3,773,942$3,132,717$6,426,152
77$7,486,964$3,878,925$3,157,723$6,933,464
78$8,168,176$3,986,534$3,181,048$7,488,917
79$8,916,273$4,096,818$3,202,557$8,097,342
80$9,737,998$4,209,826$3,222,107$8,764,065
81$10,640,775$4,325,609$3,239,549$9,494,952
82$11,632,784$4,444,214$3,254,724$10,296,470
83$12,723,038$4,565,690$3,267,467$11,175,739
84$13,921,465$4,690,086$3,277,604$12,140,609
85$15,239,002$4,817,448$3,284,952$13,199,726
86$16,687,701$4,947,824$3,289,318$14,362,620
87$18,280,838$5,081,259$3,290,502$15,639,790
88$20,033,042$5,217,799$3,288,292$17,042,804
89$21,960,428$5,357,487$3,282,466$18,584,412
90$24,080,755$5,500,367$3,272,792$20,278,661
91$26,413,586$5,646,479$3,259,024$22,141,030
92$28,980,478$5,795,863$3,240,908$24,188,579
93$31,805,184$5,948,558$3,218,176$26,440,103
94$34,913,874$6,104,598$3,190,546$28,916,317
95$38,335,384$6,264,018$3,157,724$31,640,045
96$42,101,487$6,426,849$3,119,402$34,636,440
97$46,247,193$6,593,119$3,075,256$37,933,220
98$50,811,079$6,762,854$3,024,950$41,560,931
99$55,835,652$6,936,077$2,968,128$45,553,230
100$61,367,749$7,112,805$2,904,421$49,947,212