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%19.2%
1 years$166,810$165,324$163,874$162,459$161,078$155,116
2 years$82,579$81,041$79,551$78,105$76,704$70,765
3 years$54,506$52,961$51,474$50,043$48,664$42,934
4 years$40,472$38,932$37,460$36,053$34,708$29,231
5 years$32,054$30,523$29,071$27,692$26,384$21,175
6 years$26,444$24,925$23,493$22,146$20,877$15,939
7 years$22,438$20,932$19,523$18,207$16,978$12,310
8 years$19,435$17,942$16,557$15,274$14,085$9,683
9 years$17,101$15,622$14,261$13,010$11,862$7,719
10 years$15,234$13,770$12,433$11,214$10,107$6,216
11 years$13,708$12,259$10,946$9,760$8,692$5,045
12 years$12,437$11,003$9,714$8,561$7,533$4,120
13 years$11,363$9,943$8,679$7,558$6,569$3,381
14 years$10,443$9,038$7,798$6,709$5,758$2,786
15 years$9,646$8,256$7,040$5,983$5,070$2,302
16 years$8,949$7,575$6,383$5,357$4,481$1,908
17 years$8,335$6,976$5,808$4,814$3,973$1,584
18 years$7,790$6,447$5,302$4,338$3,532$1,318
19 years$7,303$5,975$4,854$3,920$3,149$1,098
20 years$6,865$5,552$4,455$3,550$2,812$915
21 years$6,470$5,171$4,098$3,222$2,517$764
22 years$6,110$4,827$3,777$2,929$2,256$638
23 years$5,783$4,515$3,487$2,668$2,025$534
24 years$5,483$4,230$3,225$2,433$1,820$446
25 years$5,208$3,970$2,987$2,222$1,638$374
26 years$4,954$3,731$2,770$2,032$1,475$313
27 years$4,720$3,511$2,572$1,860$1,330$262
28 years$4,502$3,309$2,391$1,704$1,200$219
29 years$4,300$3,121$2,225$1,563$1,084$184
30 years$4,112$2,948$2,073$1,434$979$154
31 years$3,936$2,787$1,932$1,317$885$129
32 years$3,772$2,637$1,803$1,210$801$108
33 years$3,618$2,497$1,683$1,113$725$91
34 years$3,473$2,367$1,573$1,024$656$76
35 years$3,337$2,245$1,471$943$594$64
36 years$3,208$2,131$1,376$868$538$54
37 years$3,087$2,023$1,288$800$488$45
38 years$2,973$1,923$1,206$737$442$38
39 years$2,864$1,829$1,130$680$401$32
40 years$2,762$1,740$1,059$627$364$27
41 years$2,664$1,656$993$579$330$22
42 years$2,572$1,577$931$534$300$19
43 years$2,484$1,503$874$493$272$16
44 years$2,400$1,432$820$455$247$13
45 years$2,320$1,366$770$420$224$11
46 years$2,244$1,303$723$388$203$9
47 years$2,172$1,244$680$359$185$8
48 years$2,102$1,187$639$331$168$6
49 years$2,036$1,134$600$306$152$5
50 years$1,972$1,083$564$283$138$5

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 $2,254 every year, while hoping to spend $55,630 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: 78/9/13 Blend
66$2,020,000$2,020,000$2,020,000$2,020,000
67$2,228,365$2,121,305$2,089,995$2,396,282
68$2,396,468$2,166,059$2,100,820$2,551,890
69$2,579,854$2,211,142$2,110,143$2,715,194
70$2,780,021$2,256,510$2,117,855$2,892,739
71$2,998,622$2,302,118$2,123,842$3,085,925
72$3,237,474$2,347,914$2,127,983$3,296,293
73$3,498,578$2,393,843$2,130,152$3,525,542
74$3,784,137$2,439,846$2,130,217$3,775,541
75$4,096,578$2,485,857$2,128,037$4,048,352
76$4,438,570$2,531,806$2,123,469$4,346,244
77$4,813,057$2,577,617$2,116,357$4,671,719
78$5,223,277$2,623,208$2,106,543$5,027,530
79$5,672,796$2,668,490$2,093,857$5,416,714
80$6,165,544$2,713,369$2,078,124$5,842,616
81$6,705,847$2,757,741$2,059,159$6,308,919
82$7,298,471$2,801,498$2,036,768$6,819,683
83$7,948,664$2,844,520$2,010,749$7,379,383
84$8,662,208$2,886,682$1,980,889$7,992,948
85$9,445,470$2,927,847$1,946,966$8,665,809
86$10,305,467$2,967,870$1,908,749$9,403,950
87$11,249,925$3,006,596$1,865,992$10,213,968
88$12,287,357$3,043,859$1,818,442$11,103,129
89$13,427,140$3,079,480$1,765,832$12,079,442
90$14,679,604$3,113,271$1,707,884$13,151,730
91$16,056,131$3,145,029$1,644,306$14,329,720
92$17,569,259$3,174,538$1,574,792$15,624,127
93$19,232,801$3,201,568$1,499,026$17,046,760
94$21,061,977$3,225,874$1,416,672$18,610,634
95$23,073,551$3,247,195$1,327,384$20,330,088
96$25,285,999$3,265,253$1,230,797$22,220,929
97$27,719,674$3,279,753$1,126,532$24,300,571
98$30,397,000$3,290,381$1,014,190$26,588,208
99$33,342,686$3,296,801$893,357$29,104,991
100$36,583,955$3,298,660$763,600$31,874,229