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

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$199,841$198,061$196,325$194,629$192,974$186,573
2 years$98,931$97,089$95,303$93,572$91,892$85,506
3 years$65,299$63,449$61,667$59,952$58,300$52,128
4 years$48,486$46,641$44,878$43,192$41,580$35,670
5 years$38,401$36,567$34,827$33,176$31,609$25,976
6 years$31,680$29,860$28,146$26,531$25,011$19,661
7 years$26,881$25,076$23,389$21,813$20,341$15,272
8 years$23,283$21,495$19,836$18,298$16,874$12,084
9 years$20,487$18,715$17,085$15,586$14,211$9,692
10 years$18,251$16,497$14,895$13,435$12,108$7,854
11 years$16,423$14,686$13,113$11,693$10,413$6,416
12 years$14,900$13,181$11,638$10,256$9,024$5,275
13 years$13,613$11,912$10,397$9,055$7,869$4,359
14 years$12,510$10,828$9,342$8,038$6,898$3,616
15 years$11,556$9,891$8,435$7,168$6,074$3,010
16 years$10,722$9,075$7,647$6,418$5,368$2,512
17 years$9,986$8,358$6,959$5,767$4,760$2,101
18 years$9,333$7,723$6,352$5,197$4,232$1,761
19 years$8,749$7,158$5,815$4,696$3,772$1,478
20 years$8,225$6,651$5,337$4,253$3,369$1,242
21 years$7,751$6,195$4,909$3,860$3,015$1,045
22 years$7,320$5,783$4,524$3,510$2,703$880
23 years$6,928$5,409$4,177$3,196$2,426$741
24 years$6,569$5,068$3,863$2,915$2,181$625
25 years$6,239$4,756$3,578$2,662$1,962$527
26 years$5,935$4,470$3,319$2,434$1,767$445
27 years$5,654$4,207$3,082$2,228$1,594$376
28 years$5,394$3,964$2,865$2,041$1,438$317
29 years$5,152$3,739$2,666$1,872$1,298$268
30 years$4,926$3,531$2,483$1,718$1,173$227
31 years$4,716$3,338$2,315$1,578$1,061$192
32 years$4,519$3,159$2,160$1,450$959$162
33 years$4,334$2,991$2,017$1,334$868$137
34 years$4,160$2,835$1,884$1,227$786$116
35 years$3,997$2,689$1,762$1,129$712$98
36 years$3,844$2,552$1,648$1,040$645$83
37 years$3,698$2,424$1,543$958$585$70
38 years$3,561$2,304$1,445$883$530$59
39 years$3,432$2,191$1,353$815$481$50
40 years$3,309$2,084$1,269$751$436$42
41 years$3,192$1,984$1,190$693$396$36
42 years$3,081$1,890$1,116$640$359$30
43 years$2,976$1,800$1,047$591$326$26
44 years$2,875$1,716$983$545$296$22
45 years$2,780$1,636$923$504$268$18
46 years$2,689$1,561$867$465$244$16
47 years$2,602$1,490$814$430$221$13
48 years$2,518$1,422$765$397$201$11
49 years$2,439$1,358$719$367$183$9
50 years$2,363$1,297$676$339$166$8

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 $3,772 every year, while hoping to spend $20,335 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: 62/22/16 Blend
66$2,420,000$2,420,000$2,420,000$2,420,000
67$2,670,731$2,542,471$2,504,961$2,825,413
68$2,921,509$2,645,416$2,567,241$3,032,837
69$3,197,185$2,752,723$2,630,925$3,256,540
70$3,500,277$2,864,586$2,696,041$3,500,263
71$3,833,560$2,981,204$2,762,612$3,765,954
72$4,200,089$3,102,789$2,830,666$4,055,753
73$4,603,232$3,229,561$2,900,227$4,372,017
74$5,046,700$3,361,748$2,971,323$4,717,338
75$5,534,581$3,499,591$3,043,980$5,094,570
76$6,071,380$3,643,342$3,118,225$5,506,851
77$6,662,058$3,793,263$3,194,083$5,957,637
78$7,312,084$3,949,629$3,271,581$6,450,734
79$8,027,484$4,112,728$3,350,746$6,990,328
80$8,814,895$4,282,860$3,431,604$7,581,029
81$9,681,634$4,460,340$3,514,182$8,227,913
82$10,635,760$4,645,496$3,598,507$8,936,565
83$11,686,155$4,838,673$3,684,605$9,713,139
84$12,842,606$5,040,230$3,772,501$10,564,408
85$14,115,894$5,250,544$3,862,223$11,497,831
86$15,517,903$5,470,009$3,953,795$12,521,622
87$17,061,727$5,699,036$4,047,244$13,644,826
88$18,761,791$5,938,057$4,142,595$14,877,404
89$20,633,995$6,187,523$4,239,873$16,230,327
90$22,695,856$6,447,906$4,339,103$17,715,676
91$24,966,679$6,719,699$4,440,308$19,346,760
92$27,467,735$7,003,419$4,543,513$21,138,235
93$30,222,464$7,299,606$4,648,741$23,106,244
94$33,256,695$7,608,827$4,756,014$25,268,571
95$36,598,892$7,931,673$4,865,354$27,644,801
96$40,280,418$8,268,764$4,976,782$30,256,512
97$44,335,835$8,620,748$5,090,319$33,127,469
98$48,803,230$8,988,304$5,205,985$36,283,856
99$53,724,571$9,372,143$5,323,797$39,754,514
100$59,146,106$9,773,007$5,443,773$43,571,215