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%11.7%
1 years$199,841$198,061$196,325$194,629$192,974$191,597
2 years$98,931$97,089$95,303$93,572$91,892$90,504
3 years$65,299$63,449$61,667$59,952$58,300$56,944
4 years$48,486$46,641$44,878$43,192$41,580$40,265
5 years$38,401$36,567$34,827$33,176$31,609$30,340
6 years$31,680$29,860$28,146$26,531$25,011$23,789
7 years$26,881$25,076$23,389$21,813$20,341$19,167
8 years$23,283$21,495$19,836$18,298$16,874$15,749
9 years$20,487$18,715$17,085$15,586$14,211$13,133
10 years$18,251$16,497$14,895$13,435$12,108$11,077
11 years$16,423$14,686$13,113$11,693$10,413$9,429
12 years$14,900$13,181$11,638$10,256$9,024$8,085
13 years$13,613$11,912$10,397$9,055$7,869$6,975
14 years$12,510$10,828$9,342$8,038$6,898$6,047
15 years$11,556$9,891$8,435$7,168$6,074$5,265
16 years$10,722$9,075$7,647$6,418$5,368$4,600
17 years$9,986$8,358$6,959$5,767$4,760$4,032
18 years$9,333$7,723$6,352$5,197$4,232$3,543
19 years$8,749$7,158$5,815$4,696$3,772$3,120
20 years$8,225$6,651$5,337$4,253$3,369$2,753
21 years$7,751$6,195$4,909$3,860$3,015$2,433
22 years$7,320$5,783$4,524$3,510$2,703$2,154
23 years$6,928$5,409$4,177$3,196$2,426$1,909
24 years$6,569$5,068$3,863$2,915$2,181$1,694
25 years$6,239$4,756$3,578$2,662$1,962$1,505
26 years$5,935$4,470$3,319$2,434$1,767$1,338
27 years$5,654$4,207$3,082$2,228$1,594$1,190
28 years$5,394$3,964$2,865$2,041$1,438$1,060
29 years$5,152$3,739$2,666$1,872$1,298$944
30 years$4,926$3,531$2,483$1,718$1,173$841
31 years$4,716$3,338$2,315$1,578$1,061$750
32 years$4,519$3,159$2,160$1,450$959$669
33 years$4,334$2,991$2,017$1,334$868$597
34 years$4,160$2,835$1,884$1,227$786$533
35 years$3,997$2,689$1,762$1,129$712$476
36 years$3,844$2,552$1,648$1,040$645$425
37 years$3,698$2,424$1,543$958$585$380
38 years$3,561$2,304$1,445$883$530$340
39 years$3,432$2,191$1,353$815$481$304
40 years$3,309$2,084$1,269$751$436$271
41 years$3,192$1,984$1,190$693$396$243
42 years$3,081$1,890$1,116$640$359$217
43 years$2,976$1,800$1,047$591$326$194
44 years$2,875$1,716$983$545$296$174
45 years$2,780$1,636$923$504$268$155
46 years$2,689$1,561$867$465$244$139
47 years$2,602$1,490$814$430$221$124
48 years$2,518$1,422$765$397$201$111
49 years$2,439$1,358$719$367$183$100
50 years$2,363$1,297$676$339$166$89

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 $3,412 every year, while hoping to spend $46,746 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: 48/38/14 Blend
66$2,420,000$2,420,000$2,420,000$2,420,000
67$2,670,359$2,542,099$2,504,589$2,787,980
68$2,892,999$2,616,925$2,538,756$2,944,366
69$3,136,781$2,693,850$2,572,500$3,108,977
70$3,403,812$2,772,929$2,605,759$3,286,677
71$3,696,414$2,854,215$2,638,464$3,478,707
72$4,017,141$2,937,765$2,670,546$3,686,429
73$4,368,809$3,023,635$2,701,929$3,911,346
74$4,754,518$3,111,883$2,732,534$4,155,109
75$5,177,682$3,202,569$2,762,277$4,419,534
76$5,642,062$3,295,751$2,791,069$4,706,624
77$6,151,800$3,391,491$2,818,819$5,018,579
78$6,711,461$3,489,851$2,845,426$5,357,825
79$7,326,071$3,590,895$2,870,789$5,727,031
80$8,001,167$3,694,686$2,894,798$6,129,137
81$8,742,851$3,801,289$2,917,337$6,567,377
82$9,557,841$3,910,772$2,938,288$7,045,317
83$10,453,541$4,023,200$2,957,521$7,566,881
84$11,438,108$4,138,643$2,974,904$8,136,390
85$12,520,528$4,257,169$2,990,296$8,758,607
86$13,710,700$4,378,849$3,003,549$9,438,774
87$15,019,531$4,503,752$3,014,507$10,182,666
88$16,459,039$4,631,952$3,023,009$10,996,645
89$18,042,464$4,763,520$3,028,883$11,887,719
90$19,784,392$4,898,530$3,031,948$12,863,608
91$21,700,898$5,037,056$3,032,016$13,932,816
92$23,809,690$5,179,172$3,028,889$15,104,712
93$26,130,281$5,324,954$3,022,359$16,389,617
94$28,684,171$5,474,478$3,012,209$17,798,902
95$31,495,048$5,627,818$2,998,209$19,345,097
96$34,589,014$5,785,053$2,980,121$21,042,003
97$37,994,832$5,946,259$2,957,693$22,904,829
98$41,744,192$6,111,513$2,930,663$24,950,331
99$45,872,014$6,280,892$2,898,755$27,196,972
100$50,416,776$6,454,472$2,861,680$29,665,093