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%16.1%
1 years$166,810$165,324$163,874$162,459$161,078$157,056
2 years$82,579$81,041$79,551$78,105$76,704$72,678
3 years$54,506$52,961$51,474$50,043$48,664$44,759
4 years$40,472$38,932$37,460$36,053$34,708$30,954
5 years$32,054$30,523$29,071$27,692$26,384$22,792
6 years$26,444$24,925$23,493$22,146$20,877$17,450
7 years$22,438$20,932$19,523$18,207$16,978$13,718
8 years$19,435$17,942$16,557$15,274$14,085$10,989
9 years$17,101$15,622$14,261$13,010$11,862$8,927
10 years$15,234$13,770$12,433$11,214$10,107$7,330
11 years$13,708$12,259$10,946$9,760$8,692$6,070
12 years$12,437$11,003$9,714$8,561$7,533$5,060
13 years$11,363$9,943$8,679$7,558$6,569$4,240
14 years$10,443$9,038$7,798$6,709$5,758$3,569
15 years$9,646$8,256$7,040$5,983$5,070$3,015
16 years$8,949$7,575$6,383$5,357$4,481$2,555
17 years$8,335$6,976$5,808$4,814$3,973$2,170
18 years$7,790$6,447$5,302$4,338$3,532$1,847
19 years$7,303$5,975$4,854$3,920$3,149$1,575
20 years$6,865$5,552$4,455$3,550$2,812$1,345
21 years$6,470$5,171$4,098$3,222$2,517$1,150
22 years$6,110$4,827$3,777$2,929$2,256$984
23 years$5,783$4,515$3,487$2,668$2,025$843
24 years$5,483$4,230$3,225$2,433$1,820$723
25 years$5,208$3,970$2,987$2,222$1,638$620
26 years$4,954$3,731$2,770$2,032$1,475$532
27 years$4,720$3,511$2,572$1,860$1,330$457
28 years$4,502$3,309$2,391$1,704$1,200$393
29 years$4,300$3,121$2,225$1,563$1,084$338
30 years$4,112$2,948$2,073$1,434$979$290
31 years$3,936$2,787$1,932$1,317$885$250
32 years$3,772$2,637$1,803$1,210$801$215
33 years$3,618$2,497$1,683$1,113$725$185
34 years$3,473$2,367$1,573$1,024$656$159
35 years$3,337$2,245$1,471$943$594$137
36 years$3,208$2,131$1,376$868$538$118
37 years$3,087$2,023$1,288$800$488$101
38 years$2,973$1,923$1,206$737$442$87
39 years$2,864$1,829$1,130$680$401$75
40 years$2,762$1,740$1,059$627$364$65
41 years$2,664$1,656$993$579$330$56
42 years$2,572$1,577$931$534$300$48
43 years$2,484$1,503$874$493$272$41
44 years$2,400$1,432$820$455$247$36
45 years$2,320$1,366$770$420$224$31
46 years$2,244$1,303$723$388$203$26
47 years$2,172$1,244$680$359$185$23
48 years$2,102$1,187$639$331$168$20
49 years$2,036$1,134$600$306$152$17
50 years$1,972$1,083$564$283$138$15

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 $6,769 every year, while hoping to spend $47,695 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: 68/5/27 Blend
66$2,020,000$2,020,000$2,020,000$2,020,000
67$2,233,022$2,125,962$2,094,652$2,368,782
68$2,410,043$2,179,387$2,114,076$2,514,324
69$2,603,522$2,233,832$2,132,552$2,667,450
70$2,815,087$2,289,295$2,149,998$2,833,899
71$3,046,530$2,345,775$2,166,327$3,014,990
72$3,299,827$2,403,268$2,181,450$3,212,177
73$3,577,150$2,461,769$2,195,269$3,427,063
74$3,880,893$2,521,269$2,207,684$3,661,412
75$4,213,692$2,581,760$2,218,590$3,917,170
76$4,578,451$2,643,229$2,227,875$4,196,482
77$4,978,367$2,705,660$2,235,422$4,501,709
78$5,416,961$2,769,038$2,241,109$4,835,455
79$5,898,111$2,833,342$2,244,807$5,200,591
80$6,426,091$2,898,547$2,246,380$5,600,279
81$7,005,605$2,964,629$2,245,687$6,038,003
82$7,641,837$3,031,557$2,242,578$6,517,607
83$8,340,497$3,099,296$2,236,897$7,043,322
84$9,107,875$3,167,809$2,228,481$7,619,815
85$9,950,901$3,237,053$2,217,157$8,252,229
86$10,877,206$3,306,982$2,202,745$8,946,230
87$11,895,201$3,377,544$2,185,057$9,708,066
88$13,014,150$3,448,682$2,163,895$10,544,620
89$14,244,259$3,520,333$2,139,051$11,463,481
90$15,596,773$3,592,429$2,110,309$12,473,010
91$17,084,081$3,664,896$2,077,441$13,582,424
92$18,719,832$3,737,651$2,040,211$14,801,881
93$20,519,065$3,810,606$1,998,368$16,142,577
94$22,498,349$3,883,664$1,951,652$17,616,850
95$24,675,939$3,956,722$1,899,791$19,238,299
96$27,071,950$4,029,667$1,842,500$21,021,911
97$29,708,545$4,102,377$1,779,480$22,984,206
98$32,610,144$4,174,721$1,710,419$25,143,389
99$35,803,652$4,246,555$1,634,992$27,519,524
100$39,318,717$4,317,729$1,552,857$30,134,725