Can I retire at age 67 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$168,461$166,961$165,497$164,068$162,672$158,483
2 years$83,397$81,843$80,338$78,879$77,463$73,270
3 years$55,046$53,486$51,984$50,538$49,146$45,080
4 years$40,873$39,318$37,831$36,410$35,051$31,145
5 years$32,371$30,825$29,359$27,966$26,645$22,909
6 years$26,705$25,171$23,726$22,365$21,084$17,520
7 years$22,660$21,139$19,716$18,387$17,147$13,757
8 years$19,627$18,120$16,721$15,425$14,225$11,007
9 years$17,270$15,777$14,402$13,138$11,979$8,931
10 years$15,385$13,906$12,556$11,326$10,207$7,325
11 years$13,844$12,380$11,054$9,857$8,778$6,057
12 years$12,560$11,112$9,810$8,646$7,607$5,043
13 years$11,475$10,042$8,765$7,633$6,634$4,220
14 years$10,546$9,128$7,875$6,775$5,815$3,548
15 years$9,741$8,338$7,110$6,043$5,120$2,993
16 years$9,038$7,650$6,446$5,410$4,525$2,532
17 years$8,418$7,045$5,866$4,861$4,012$2,148
18 years$7,867$6,510$5,355$4,381$3,567$1,826
19 years$7,376$6,034$4,902$3,959$3,180$1,554
20 years$6,933$5,607$4,499$3,585$2,840$1,325
21 years$6,534$5,223$4,138$3,254$2,542$1,131
22 years$6,171$4,875$3,814$2,958$2,278$967
23 years$5,840$4,560$3,522$2,694$2,045$827
24 years$5,538$4,272$3,257$2,457$1,838$708
25 years$5,259$4,009$3,016$2,244$1,654$606
26 years$5,003$3,768$2,798$2,052$1,490$520
27 years$4,766$3,546$2,598$1,878$1,343$446
28 years$4,547$3,341$2,415$1,721$1,212$382
29 years$4,343$3,152$2,247$1,578$1,094$328
30 years$4,153$2,977$2,093$1,448$989$282
31 years$3,975$2,814$1,952$1,330$894$242
32 years$3,809$2,663$1,821$1,222$809$208
33 years$3,653$2,522$1,700$1,124$732$178
34 years$3,507$2,390$1,589$1,034$663$153
35 years$3,370$2,267$1,485$952$600$132
36 years$3,240$2,152$1,389$877$544$113
37 years$3,118$2,044$1,300$808$493$97
38 years$3,002$1,942$1,218$745$447$83
39 years$2,893$1,847$1,141$687$405$72
40 years$2,789$1,757$1,069$633$368$62
41 years$2,691$1,673$1,003$584$333$53
42 years$2,597$1,593$941$539$303$46
43 years$2,508$1,518$883$498$275$39
44 years$2,424$1,447$828$460$249$34
45 years$2,343$1,380$778$424$226$29
46 years$2,266$1,316$731$392$205$25
47 years$2,193$1,256$686$362$187$21
48 years$2,123$1,199$645$335$169$18
49 years$2,056$1,145$606$309$154$16
50 years$1,992$1,094$570$286$140$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,040,000, adding $4,433 every year, while hoping to spend $37,233 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: 77/7/16 Blend
66$2,040,000$2,040,000$2,040,000$2,040,000
67$2,252,653$2,144,533$2,112,913$2,417,931
68$2,442,808$2,209,999$2,144,080$2,593,105
69$2,651,110$2,277,426$2,175,043$2,780,038
70$2,879,373$2,346,869$2,205,756$2,984,019
71$3,129,591$2,418,387$2,236,170$3,206,735
72$3,403,961$2,492,040$2,266,234$3,450,048
73$3,704,904$2,567,889$2,295,892$3,716,008
74$4,035,086$2,645,998$2,325,086$4,006,871
75$4,397,444$2,726,430$2,353,756$4,325,124
76$4,795,212$2,809,254$2,381,835$4,673,507
77$5,231,952$2,894,536$2,409,256$5,055,035
78$5,711,591$2,982,348$2,435,945$5,473,033
79$6,238,451$3,072,761$2,461,827$5,931,162
80$6,817,296$3,165,849$2,486,821$6,433,457
81$7,453,372$3,261,688$2,510,842$6,984,360
82$8,152,460$3,360,355$2,533,799$7,588,769
83$8,920,930$3,461,930$2,555,600$8,252,078
84$9,765,795$3,566,496$2,576,143$8,980,229
85$10,694,788$3,674,135$2,595,325$9,779,771
86$11,716,423$3,784,935$2,613,036$10,657,919
87$12,840,085$3,898,983$2,629,159$11,622,622
88$14,076,110$4,016,370$2,643,572$12,682,638
89$15,435,889$4,137,188$2,656,148$13,847,620
90$16,931,973$4,261,534$2,666,752$15,128,200
91$18,578,188$4,389,503$2,675,242$16,536,095
92$20,389,771$4,521,196$2,681,470$18,084,218
93$22,383,508$4,656,715$2,685,280$19,786,794
94$24,577,896$4,796,164$2,686,507$21,659,500
95$26,993,318$4,939,652$2,684,981$23,719,610
96$29,652,229$5,087,288$2,680,521$25,986,157
97$32,579,375$5,239,184$2,672,937$28,480,117
98$35,802,023$5,395,456$2,662,032$31,224,603
99$39,350,217$5,556,220$2,647,598$34,245,081
100$43,257,062$5,721,599$2,629,416$37,569,618