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

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$168,461$166,961$165,497$164,068$162,672$158,804
2 years$83,397$81,843$80,338$78,879$77,463$73,589
3 years$55,046$53,486$51,984$50,538$49,146$45,386
4 years$40,873$39,318$37,831$36,410$35,051$31,435
5 years$32,371$30,825$29,359$27,966$26,645$23,183
6 years$26,705$25,171$23,726$22,365$21,084$17,779
7 years$22,660$21,139$19,716$18,387$17,147$13,999
8 years$19,627$18,120$16,721$15,425$14,225$11,234
9 years$17,270$15,777$14,402$13,138$11,979$9,143
10 years$15,385$13,906$12,556$11,326$10,207$7,521
11 years$13,844$12,380$11,054$9,857$8,778$6,240
12 years$12,560$11,112$9,810$8,646$7,607$5,212
13 years$11,475$10,042$8,765$7,633$6,634$4,377
14 years$10,546$9,128$7,875$6,775$5,815$3,692
15 years$9,741$8,338$7,110$6,043$5,120$3,125
16 years$9,038$7,650$6,446$5,410$4,525$2,654
17 years$8,418$7,045$5,866$4,861$4,012$2,259
18 years$7,867$6,510$5,355$4,381$3,567$1,927
19 years$7,376$6,034$4,902$3,959$3,180$1,647
20 years$6,933$5,607$4,499$3,585$2,840$1,410
21 years$6,534$5,223$4,138$3,254$2,542$1,208
22 years$6,171$4,875$3,814$2,958$2,278$1,036
23 years$5,840$4,560$3,522$2,694$2,045$890
24 years$5,538$4,272$3,257$2,457$1,838$765
25 years$5,259$4,009$3,016$2,244$1,654$658
26 years$5,003$3,768$2,798$2,052$1,490$566
27 years$4,766$3,546$2,598$1,878$1,343$487
28 years$4,547$3,341$2,415$1,721$1,212$420
29 years$4,343$3,152$2,247$1,578$1,094$362
30 years$4,153$2,977$2,093$1,448$989$312
31 years$3,975$2,814$1,952$1,330$894$269
32 years$3,809$2,663$1,821$1,222$809$232
33 years$3,653$2,522$1,700$1,124$732$200
34 years$3,507$2,390$1,589$1,034$663$172
35 years$3,370$2,267$1,485$952$600$149
36 years$3,240$2,152$1,389$877$544$128
37 years$3,118$2,044$1,300$808$493$111
38 years$3,002$1,942$1,218$745$447$96
39 years$2,893$1,847$1,141$687$405$82
40 years$2,789$1,757$1,069$633$368$71
41 years$2,691$1,673$1,003$584$333$61
42 years$2,597$1,593$941$539$303$53
43 years$2,508$1,518$883$498$275$46
44 years$2,424$1,447$828$460$249$40
45 years$2,343$1,380$778$424$226$34
46 years$2,266$1,316$731$392$205$29
47 years$2,193$1,256$686$362$187$25
48 years$2,123$1,199$645$335$169$22
49 years$2,056$1,145$606$309$154$19
50 years$1,992$1,094$570$286$140$16

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 $4,463 every year, while hoping to spend $28,404 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: 80/14/6 Blend
66$2,040,000$2,040,000$2,040,000$2,040,000
67$2,252,684$2,144,564$2,112,944$2,431,524
68$2,452,236$2,219,426$2,153,506$2,624,109
69$2,671,190$2,297,004$2,194,474$2,831,159
70$2,911,496$2,377,401$2,235,834$3,057,473
71$3,175,300$2,460,726$2,277,566$3,304,959
72$3,464,967$2,547,088$2,319,651$3,575,717
73$3,783,103$2,636,604$2,362,068$3,872,060
74$4,132,577$2,729,395$2,404,795$4,196,533
75$4,516,550$2,825,586$2,447,806$4,551,942
76$4,938,506$2,925,308$2,491,075$4,941,373
77$5,402,282$3,028,695$2,534,574$5,368,229
78$5,912,104$3,135,891$2,578,272$5,836,254
79$6,472,629$3,247,041$2,622,135$6,349,575
80$7,088,990$3,362,298$2,666,128$6,912,734
81$7,766,837$3,481,821$2,710,215$7,530,736
82$8,512,401$3,605,777$2,754,353$8,209,095
83$9,332,542$3,734,336$2,798,500$8,953,883
84$10,234,823$3,867,679$2,842,611$9,771,788
85$11,227,571$4,005,993$2,886,635$10,670,180
86$12,319,968$4,149,471$2,930,522$11,657,175
87$13,522,125$4,298,315$2,974,215$12,741,716
88$14,845,186$4,452,737$3,017,655$13,933,654
89$16,301,429$4,612,955$3,060,781$15,243,842
90$17,904,384$4,779,198$3,103,525$16,684,237
91$19,668,955$4,951,704$3,145,818$18,268,010
92$21,611,571$5,130,719$3,187,585$20,009,676
93$23,750,329$5,316,503$3,228,748$21,925,223
94$26,105,174$5,509,322$3,269,222$24,032,269
95$28,698,080$5,709,458$3,308,919$26,350,222
96$31,553,264$5,917,201$3,347,748$28,900,467
97$34,697,408$6,132,854$3,385,608$31,706,568
98$38,159,914$6,356,735$3,422,396$34,794,486
99$41,973,182$6,589,172$3,458,004$38,192,825
100$46,172,914$6,830,508$3,492,314$41,933,104