Can I retire at age 67 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$193,235$191,514$189,834$188,195$186,595$180,333
2 years$95,661$93,879$92,153$90,479$88,855$82,608
3 years$63,140$61,351$59,629$57,970$56,373$50,337
4 years$46,883$45,100$43,395$41,764$40,206$34,427
5 years$37,132$35,359$33,676$32,079$30,564$25,058
6 years$30,633$28,873$27,215$25,654$24,184$18,955
7 years$25,992$24,247$22,616$21,092$19,668$14,716
8 years$22,514$20,785$19,180$17,693$16,317$11,636
9 years$19,810$18,097$16,520$15,071$13,741$9,328
10 years$17,647$15,951$14,402$12,991$11,708$7,554
11 years$15,880$14,201$12,680$11,306$10,069$6,167
12 years$14,408$12,746$11,253$9,917$8,726$5,067
13 years$13,163$11,518$10,054$8,755$7,609$4,184
14 years$12,097$10,470$9,033$7,772$6,670$3,469
15 years$11,174$9,564$8,156$6,931$5,873$2,885
16 years$10,367$8,775$7,394$6,206$5,190$2,406
17 years$9,656$8,082$6,729$5,576$4,602$2,011
18 years$9,024$7,468$6,142$5,025$4,092$1,684
19 years$8,460$6,921$5,623$4,541$3,647$1,413
20 years$7,953$6,431$5,161$4,112$3,258$1,186
21 years$7,495$5,991$4,747$3,732$2,915$997
22 years$7,078$5,592$4,375$3,394$2,613$839
23 years$6,699$5,230$4,039$3,091$2,346$706
24 years$6,352$4,900$3,736$2,819$2,108$595
25 years$6,033$4,599$3,460$2,574$1,897$502
26 years$5,739$4,322$3,209$2,354$1,709$423
27 years$5,467$4,067$2,980$2,154$1,541$357
28 years$5,215$3,833$2,770$1,974$1,390$301
29 years$4,981$3,616$2,578$1,810$1,255$254
30 years$4,763$3,415$2,401$1,661$1,134$215
31 years$4,560$3,228$2,239$1,526$1,026$181
32 years$4,369$3,054$2,089$1,402$928$153
33 years$4,191$2,893$1,950$1,289$840$129
34 years$4,023$2,741$1,822$1,186$760$109
35 years$3,865$2,600$1,704$1,092$688$92
36 years$3,716$2,468$1,594$1,006$624$78
37 years$3,576$2,344$1,492$927$565$66
38 years$3,444$2,228$1,397$854$513$56
39 years$3,318$2,118$1,309$788$465$47
40 years$3,199$2,015$1,227$726$422$40
41 years$3,086$1,918$1,150$670$382$34
42 years$2,979$1,827$1,079$619$347$28
43 years$2,877$1,741$1,012$571$315$24
44 years$2,780$1,659$950$527$286$20
45 years$2,688$1,582$892$487$260$17
46 years$2,600$1,510$838$450$236$15
47 years$2,516$1,441$787$416$214$12
48 years$2,435$1,375$740$384$194$10
49 years$2,358$1,313$695$355$177$9
50 years$2,285$1,254$654$328$160$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,340,000, adding $6,754 every year, while hoping to spend $43,955 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: 36/35/29 Blend
66$2,340,000$2,340,000$2,340,000$2,340,000
67$2,585,647$2,461,627$2,425,357$2,656,037
68$2,802,615$2,535,479$2,459,838$2,782,979
69$3,040,241$2,611,476$2,494,002$2,915,485
70$3,300,585$2,689,678$2,527,791$3,057,704
71$3,585,916$2,770,144$2,561,144$3,210,540
72$3,898,735$2,852,936$2,593,997$3,374,988
73$4,241,793$2,938,118$2,626,283$3,552,143
74$4,618,123$3,025,753$2,657,931$3,743,211
75$5,031,064$3,115,907$2,688,864$3,949,517
76$5,484,295$3,208,649$2,719,003$4,172,522
77$5,981,868$3,304,047$2,748,264$4,413,834
78$6,528,245$3,402,172$2,776,558$4,675,224
79$7,128,344$3,503,096$2,803,790$4,958,639
80$7,787,580$3,606,893$2,829,863$5,266,227
81$8,511,922$3,713,639$2,854,671$5,600,351
82$9,307,941$3,823,411$2,878,106$5,963,614
83$10,182,881$3,936,288$2,900,052$6,358,885
84$11,144,718$4,052,349$2,920,388$6,789,321
85$12,202,243$4,171,678$2,938,984$7,258,401
86$13,365,140$4,294,358$2,955,708$7,769,959
87$14,644,077$4,420,475$2,970,418$8,328,215
88$16,050,811$4,550,116$2,982,964$8,937,821
89$17,598,292$4,683,370$2,993,192$9,603,902
90$19,300,790$4,820,328$3,000,937$10,332,102
91$21,174,029$4,961,082$3,006,026$11,128,642
92$23,235,331$5,105,726$3,008,280$12,000,375
93$25,503,786$5,254,358$3,007,508$12,954,851
94$28,000,424$5,407,073$3,003,511$14,000,393
95$30,748,419$5,563,972$2,996,081$15,146,165
96$33,773,306$5,725,155$2,984,998$16,402,272
97$37,103,222$5,890,725$2,970,033$17,779,843
98$40,769,167$6,060,788$2,950,946$19,291,145
99$44,805,303$6,235,448$2,927,484$20,949,693
100$49,249,272$6,414,813$2,899,383$22,770,381