Can I retire at age 67 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$199,841$198,061$196,325$194,629$192,974$187,700
2 years$98,931$97,089$95,303$93,572$91,892$86,618
3 years$65,299$63,449$61,667$59,952$58,300$53,190
4 years$48,486$46,641$44,878$43,192$41,580$36,673
5 years$38,401$36,567$34,827$33,176$31,609$26,918
6 years$31,680$29,860$28,146$26,531$25,011$20,542
7 years$26,881$25,076$23,389$21,813$20,341$16,093
8 years$23,283$21,495$19,836$18,298$16,874$12,846
9 years$20,487$18,715$17,085$15,586$14,211$10,398
10 years$18,251$16,497$14,895$13,435$12,108$8,506
11 years$16,423$14,686$13,113$11,693$10,413$7,017
12 years$14,900$13,181$11,638$10,256$9,024$5,826
13 years$13,613$11,912$10,397$9,055$7,869$4,863
14 years$12,510$10,828$9,342$8,038$6,898$4,076
15 years$11,556$9,891$8,435$7,168$6,074$3,429
16 years$10,722$9,075$7,647$6,418$5,368$2,893
17 years$9,986$8,358$6,959$5,767$4,760$2,447
18 years$9,333$7,723$6,352$5,197$4,232$2,074
19 years$8,749$7,158$5,815$4,696$3,772$1,760
20 years$8,225$6,651$5,337$4,253$3,369$1,496
21 years$7,751$6,195$4,909$3,860$3,015$1,273
22 years$7,320$5,783$4,524$3,510$2,703$1,085
23 years$6,928$5,409$4,177$3,196$2,426$925
24 years$6,569$5,068$3,863$2,915$2,181$789
25 years$6,239$4,756$3,578$2,662$1,962$674
26 years$5,935$4,470$3,319$2,434$1,767$576
27 years$5,654$4,207$3,082$2,228$1,594$492
28 years$5,394$3,964$2,865$2,041$1,438$421
29 years$5,152$3,739$2,666$1,872$1,298$360
30 years$4,926$3,531$2,483$1,718$1,173$308
31 years$4,716$3,338$2,315$1,578$1,061$263
32 years$4,519$3,159$2,160$1,450$959$225
33 years$4,334$2,991$2,017$1,334$868$193
34 years$4,160$2,835$1,884$1,227$786$165
35 years$3,997$2,689$1,762$1,129$712$141
36 years$3,844$2,552$1,648$1,040$645$121
37 years$3,698$2,424$1,543$958$585$104
38 years$3,561$2,304$1,445$883$530$89
39 years$3,432$2,191$1,353$815$481$76
40 years$3,309$2,084$1,269$751$436$65
41 years$3,192$1,984$1,190$693$396$56
42 years$3,081$1,890$1,116$640$359$48
43 years$2,976$1,800$1,047$591$326$41
44 years$2,875$1,716$983$545$296$35
45 years$2,780$1,636$923$504$268$30
46 years$2,689$1,561$867$465$244$26
47 years$2,602$1,490$814$430$221$22
48 years$2,518$1,422$765$397$201$19
49 years$2,439$1,358$719$367$183$16
50 years$2,363$1,297$676$339$166$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,420,000, adding $2,802 every year, while hoping to spend $24,422 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: 44/47/9 Blend
66$2,420,000$2,420,000$2,420,000$2,420,000
67$2,669,730$2,541,470$2,503,960$2,780,221
68$2,916,058$2,640,017$2,561,858$2,955,680
69$3,186,692$2,742,575$2,620,877$3,143,017
70$3,484,087$2,849,314$2,681,029$3,345,498
71$3,810,946$2,960,411$2,742,325$3,564,523
72$4,170,245$3,076,055$2,804,776$3,801,628
73$4,565,267$3,196,438$2,868,392$4,058,502
74$4,999,625$3,321,764$2,933,184$4,336,997
75$5,477,301$3,452,245$2,999,160$4,639,151
76$6,002,684$3,588,103$3,066,330$4,967,200
77$6,580,606$3,729,569$3,134,701$5,323,604
78$7,216,395$3,876,884$3,204,280$5,711,065
79$7,915,918$4,030,302$3,275,074$6,132,553
80$8,685,640$4,190,086$3,347,088$6,591,335
81$9,532,687$4,356,512$3,420,327$7,091,000
82$10,464,908$4,529,868$3,494,795$7,635,499
83$11,490,952$4,710,454$3,570,493$8,229,172
84$12,620,349$4,898,586$3,647,425$8,876,797
85$13,863,600$5,094,592$3,725,589$9,583,627
86$15,232,275$5,298,816$3,804,984$10,355,442
87$16,739,125$5,511,616$3,885,609$11,198,601
88$18,398,199$5,733,367$3,967,460$12,120,101
89$20,224,975$5,964,463$4,050,530$13,127,640
90$22,236,513$6,205,312$4,134,813$14,229,691
91$24,451,609$6,456,343$4,220,301$15,435,580
92$26,890,974$6,718,005$4,306,982$16,755,567
93$29,577,431$6,990,765$4,394,843$18,200,950
94$32,536,129$7,275,113$4,483,871$19,784,162
95$35,794,782$7,571,561$4,574,048$21,518,893
96$39,383,925$7,880,643$4,665,355$23,420,211
97$43,337,211$8,202,920$4,757,769$25,504,707
98$47,691,720$8,538,977$4,851,268$27,790,647
99$52,488,314$8,889,425$4,945,824$30,298,143
100$57,772,019$9,254,904$5,041,406$33,049,340