Can I retire at age 67 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$184,977$183,329$181,722$180,153$178,621$174,657
2 years$91,573$89,867$88,215$86,612$85,057$81,085
3 years$60,442$58,729$57,081$55,493$53,964$50,107
4 years$44,880$43,172$41,540$39,980$38,488$34,775
5 years$35,545$33,848$32,237$30,708$29,258$25,700
6 years$29,324$27,639$26,052$24,558$23,151$19,752
7 years$24,882$23,211$21,649$20,190$18,828$15,588
8 years$21,552$19,896$18,360$16,937$15,619$12,538
9 years$18,963$17,323$15,814$14,427$13,154$10,229
10 years$16,893$15,270$13,787$12,436$11,208$8,436
11 years$15,201$13,594$12,138$10,823$9,639$7,016
12 years$13,792$12,201$10,772$9,493$8,353$5,875
13 years$12,600$11,026$9,624$8,381$7,284$4,947
14 years$11,580$10,022$8,647$7,440$6,385$4,184
15 years$10,696$9,156$7,807$6,635$5,622$3,552
16 years$9,924$8,400$7,078$5,941$4,969$3,025
17 years$9,243$7,736$6,441$5,338$4,406$2,582
18 years$8,639$7,149$5,880$4,810$3,917$2,209
19 years$8,099$6,625$5,383$4,347$3,491$1,894
20 years$7,613$6,157$4,940$3,937$3,119$1,626
21 years$7,174$5,735$4,544$3,573$2,791$1,398
22 years$6,776$5,353$4,188$3,249$2,502$1,203
23 years$6,413$5,007$3,867$2,959$2,246$1,036
24 years$6,080$4,691$3,576$2,698$2,018$893
25 years$5,775$4,402$3,312$2,464$1,816$771
26 years$5,494$4,137$3,072$2,253$1,636$665
27 years$5,234$3,894$2,853$2,062$1,475$575
28 years$4,992$3,669$2,652$1,890$1,331$496
29 years$4,768$3,461$2,468$1,733$1,202$429
30 years$4,560$3,269$2,299$1,590$1,086$371
31 years$4,365$3,090$2,143$1,461$982$321
32 years$4,182$2,924$1,999$1,342$888$278
33 years$4,012$2,769$1,867$1,234$804$240
34 years$3,851$2,624$1,744$1,136$728$208
35 years$3,700$2,489$1,631$1,045$659$180
36 years$3,558$2,363$1,526$963$597$156
37 years$3,423$2,244$1,428$887$541$135
38 years$3,296$2,132$1,337$818$491$117
39 years$3,176$2,028$1,253$754$445$101
40 years$3,062$1,929$1,174$695$404$88
41 years$2,954$1,836$1,101$642$366$76
42 years$2,852$1,749$1,033$592$332$66
43 years$2,754$1,666$969$547$302$57
44 years$2,661$1,588$910$505$274$49
45 years$2,573$1,515$854$466$248$43
46 years$2,489$1,445$802$431$226$37
47 years$2,408$1,379$754$398$205$32
48 years$2,331$1,316$708$368$186$28
49 years$2,257$1,257$666$340$169$24
50 years$2,187$1,201$626$314$153$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,240,000, adding $2,193 every year, while hoping to spend $23,157 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: 27/44/29 Blend
66$2,240,000$2,240,000$2,240,000$2,240,000
67$2,470,742$2,352,022$2,317,302$2,515,141
68$2,698,119$2,442,632$2,370,293$2,642,081
69$2,947,912$2,536,906$2,424,283$2,776,145
70$3,222,384$2,634,999$2,479,281$2,919,618
71$3,524,025$2,737,073$2,535,295$3,073,318
72$3,855,583$2,843,296$2,592,334$3,238,144
73$4,220,080$2,953,846$2,650,406$3,415,078
74$4,620,850$3,068,906$2,709,516$3,605,200
75$5,061,564$3,188,670$2,769,672$3,809,693
76$5,546,266$3,313,337$2,830,879$4,029,854
77$6,079,414$3,443,119$2,893,141$4,267,108
78$6,665,916$3,578,234$2,956,464$4,523,019
79$7,311,183$3,718,911$3,020,849$4,799,302
80$8,021,176$3,865,389$3,086,299$5,097,842
81$8,802,462$4,017,919$3,152,816$5,420,710
82$9,662,277$4,176,762$3,220,400$5,770,179
83$10,608,596$4,342,189$3,289,050$6,148,748
84$11,650,203$4,514,487$3,358,763$6,559,160
85$12,796,779$4,693,953$3,429,537$7,004,434
86$14,058,991$4,880,897$3,501,368$7,487,884
87$15,448,593$5,075,645$3,574,248$8,013,157
88$16,978,535$5,278,537$3,648,170$8,584,261
89$18,663,087$5,489,928$3,723,126$9,205,602
90$20,517,975$5,710,188$3,799,104$9,882,028
91$22,560,527$5,939,705$3,876,092$10,618,870
92$24,809,835$6,178,884$3,954,075$11,421,990
93$27,286,938$6,428,150$4,033,037$12,297,841
94$30,015,021$6,687,944$4,112,959$13,253,518
95$33,019,630$6,958,730$4,193,820$14,296,831
96$36,328,915$7,240,992$4,275,596$15,436,371
97$39,973,899$7,535,234$4,358,263$16,681,596
98$43,988,763$7,841,987$4,441,791$18,042,910
99$48,411,175$8,161,803$4,526,149$19,531,768
100$53,282,643$8,495,259$4,611,304$21,160,776