Can I retire at age 67 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$166,810$165,324$163,874$162,459$161,078$159,928
2 years$82,579$81,041$79,551$78,105$76,704$75,545
3 years$54,506$52,961$51,474$50,043$48,664$47,531
4 years$40,472$38,932$37,460$36,053$34,708$33,610
5 years$32,054$30,523$29,071$27,692$26,384$25,325
6 years$26,444$24,925$23,493$22,146$20,877$19,857
7 years$22,438$20,932$19,523$18,207$16,978$15,999
8 years$19,435$17,942$16,557$15,274$14,085$13,146
9 years$17,101$15,622$14,261$13,010$11,862$10,962
10 years$15,234$13,770$12,433$11,214$10,107$9,246
11 years$13,708$12,259$10,946$9,760$8,692$7,871
12 years$12,437$11,003$9,714$8,561$7,533$6,749
13 years$11,363$9,943$8,679$7,558$6,569$5,822
14 years$10,443$9,038$7,798$6,709$5,758$5,048
15 years$9,646$8,256$7,040$5,983$5,070$4,395
16 years$8,949$7,575$6,383$5,357$4,481$3,840
17 years$8,335$6,976$5,808$4,814$3,973$3,365
18 years$7,790$6,447$5,302$4,338$3,532$2,957
19 years$7,303$5,975$4,854$3,920$3,149$2,604
20 years$6,865$5,552$4,455$3,550$2,812$2,298
21 years$6,470$5,171$4,098$3,222$2,517$2,031
22 years$6,110$4,827$3,777$2,929$2,256$1,798
23 years$5,783$4,515$3,487$2,668$2,025$1,594
24 years$5,483$4,230$3,225$2,433$1,820$1,414
25 years$5,208$3,970$2,987$2,222$1,638$1,256
26 years$4,954$3,731$2,770$2,032$1,475$1,117
27 years$4,720$3,511$2,572$1,860$1,330$993
28 years$4,502$3,309$2,391$1,704$1,200$884
29 years$4,300$3,121$2,225$1,563$1,084$788
30 years$4,112$2,948$2,073$1,434$979$702
31 years$3,936$2,787$1,932$1,317$885$626
32 years$3,772$2,637$1,803$1,210$801$559
33 years$3,618$2,497$1,683$1,113$725$499
34 years$3,473$2,367$1,573$1,024$656$445
35 years$3,337$2,245$1,471$943$594$398
36 years$3,208$2,131$1,376$868$538$355
37 years$3,087$2,023$1,288$800$488$317
38 years$2,973$1,923$1,206$737$442$284
39 years$2,864$1,829$1,130$680$401$253
40 years$2,762$1,740$1,059$627$364$227
41 years$2,664$1,656$993$579$330$203
42 years$2,572$1,577$931$534$300$181
43 years$2,484$1,503$874$493$272$162
44 years$2,400$1,432$820$455$247$145
45 years$2,320$1,366$770$420$224$130
46 years$2,244$1,303$723$388$203$116
47 years$2,172$1,244$680$359$185$104
48 years$2,102$1,187$639$331$168$93
49 years$2,036$1,134$600$306$152$83
50 years$1,972$1,083$564$283$138$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,020,000, adding $3,246 every year, while hoping to spend $38,736 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: 54/40/6 Blend
66$2,020,000$2,020,000$2,020,000$2,020,000
67$2,229,388$2,122,328$2,091,018$2,346,601
68$2,415,571$2,185,108$2,119,853$2,488,942
69$2,619,446$2,249,665$2,148,355$2,639,219
70$2,842,778$2,316,046$2,176,472$2,801,819
71$3,087,507$2,384,299$2,204,150$2,977,914
72$3,355,775$2,454,471$2,231,331$3,168,793
73$3,649,935$2,526,612$2,257,952$3,375,876
74$3,972,585$2,600,772$2,283,950$3,600,724
75$4,326,580$2,677,001$2,309,254$3,845,055
76$4,715,070$2,755,353$2,333,793$4,110,760
77$5,141,523$2,835,881$2,357,490$4,399,919
78$5,609,757$2,918,638$2,380,265$4,714,825
79$6,123,980$3,003,680$2,402,032$5,057,998
80$6,688,829$3,091,062$2,422,703$5,432,216
81$7,309,408$3,180,843$2,442,182$5,840,534
82$7,991,343$3,273,080$2,460,371$6,286,320
83$8,740,832$3,367,833$2,477,165$6,773,279
84$9,564,701$3,465,161$2,492,454$7,305,492
85$10,470,473$3,565,125$2,506,123$7,887,455
86$11,466,433$3,667,789$2,518,051$8,524,117
87$12,561,713$3,773,214$2,528,109$9,220,930
88$13,766,370$3,881,465$2,536,164$9,983,899
89$15,091,489$3,992,605$2,542,074$10,819,637
90$16,549,280$4,106,702$2,545,692$11,735,430
91$18,153,197$4,223,821$2,546,864$12,739,301
92$19,918,064$4,344,029$2,545,424$13,840,092
93$21,860,215$4,467,394$2,541,204$15,047,539
94$23,997,646$4,593,986$2,534,024$16,372,370
95$26,350,187$4,723,872$2,523,695$17,826,403
96$28,939,688$4,857,124$2,510,020$19,422,657
97$31,790,224$4,993,811$2,492,794$21,175,477
98$34,928,323$5,134,004$2,471,799$23,100,666
99$38,383,217$5,277,775$2,446,809$25,215,633
100$42,187,114$5,425,196$2,417,587$27,539,562