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%17.8%
1 years$199,841$198,061$196,325$194,629$192,974$186,872
2 years$98,931$97,089$95,303$93,572$91,892$85,800
3 years$65,299$63,449$61,667$59,952$58,300$52,408
4 years$48,486$46,641$44,878$43,192$41,580$35,934
5 years$38,401$36,567$34,827$33,176$31,609$26,224
6 years$31,680$29,860$28,146$26,531$25,011$19,892
7 years$26,881$25,076$23,389$21,813$20,341$15,487
8 years$23,283$21,495$19,836$18,298$16,874$12,282
9 years$20,487$18,715$17,085$15,586$14,211$9,876
10 years$18,251$16,497$14,895$13,435$12,108$8,023
11 years$16,423$14,686$13,113$11,693$10,413$6,571
12 years$14,900$13,181$11,638$10,256$9,024$5,417
13 years$13,613$11,912$10,397$9,055$7,869$4,488
14 years$12,510$10,828$9,342$8,038$6,898$3,734
15 years$11,556$9,891$8,435$7,168$6,074$3,117
16 years$10,722$9,075$7,647$6,418$5,368$2,609
17 years$9,986$8,358$6,959$5,767$4,760$2,189
18 years$9,333$7,723$6,352$5,197$4,232$1,840
19 years$8,749$7,158$5,815$4,696$3,772$1,549
20 years$8,225$6,651$5,337$4,253$3,369$1,306
21 years$7,751$6,195$4,909$3,860$3,015$1,102
22 years$7,320$5,783$4,524$3,510$2,703$931
23 years$6,928$5,409$4,177$3,196$2,426$787
24 years$6,569$5,068$3,863$2,915$2,181$665
25 years$6,239$4,756$3,578$2,662$1,962$563
26 years$5,935$4,470$3,319$2,434$1,767$477
27 years$5,654$4,207$3,082$2,228$1,594$404
28 years$5,394$3,964$2,865$2,041$1,438$342
29 years$5,152$3,739$2,666$1,872$1,298$290
30 years$4,926$3,531$2,483$1,718$1,173$246
31 years$4,716$3,338$2,315$1,578$1,061$209
32 years$4,519$3,159$2,160$1,450$959$177
33 years$4,334$2,991$2,017$1,334$868$150
34 years$4,160$2,835$1,884$1,227$786$127
35 years$3,997$2,689$1,762$1,129$712$108
36 years$3,844$2,552$1,648$1,040$645$92
37 years$3,698$2,424$1,543$958$585$78
38 years$3,561$2,304$1,445$883$530$66
39 years$3,432$2,191$1,353$815$481$56
40 years$3,309$2,084$1,269$751$436$48
41 years$3,192$1,984$1,190$693$396$40
42 years$3,081$1,890$1,116$640$359$34
43 years$2,976$1,800$1,047$591$326$29
44 years$2,875$1,716$983$545$296$25
45 years$2,780$1,636$923$504$268$21
46 years$2,689$1,561$867$465$244$18
47 years$2,602$1,490$814$430$221$15
48 years$2,518$1,422$765$397$201$13
49 years$2,439$1,358$719$367$183$11
50 years$2,363$1,297$676$339$166$9

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 $5,414 every year, while hoping to spend $31,132 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: 65/6/29 Blend
66$2,420,000$2,420,000$2,420,000$2,420,000
67$2,672,425$2,544,165$2,506,655$2,825,228
68$2,911,888$2,635,704$2,557,503$3,020,814
69$3,174,733$2,730,686$2,609,012$3,230,588
70$3,463,311$2,829,246$2,661,170$3,459,218
71$3,780,215$2,931,525$2,713,965$3,708,565
72$4,128,298$3,037,670$2,767,384$3,980,678
73$4,510,704$3,147,836$2,821,411$4,277,815
74$4,930,897$3,262,181$2,876,029$4,602,462
75$5,392,692$3,380,872$2,931,220$4,957,358
76$5,900,295$3,504,083$2,986,964$5,345,518
77$6,458,335$3,631,993$3,043,238$5,770,265
78$7,071,917$3,764,792$3,100,018$6,235,258
79$7,746,661$3,902,676$3,157,277$6,744,529
80$8,488,761$4,045,848$3,214,986$7,302,519
81$9,305,042$4,194,521$3,273,115$7,914,120
82$10,203,022$4,348,918$3,331,630$8,584,722
83$11,190,984$4,509,270$3,390,494$9,320,262
84$12,278,058$4,675,817$3,449,669$10,127,282
85$13,474,299$4,848,812$3,509,112$11,012,989
86$14,790,789$5,028,515$3,568,779$11,985,324
87$16,239,738$5,215,200$3,628,622$13,053,036
88$17,834,598$5,409,152$3,688,588$14,225,763
89$19,590,195$5,610,668$3,748,622$15,514,126
90$21,522,860$5,820,056$3,808,667$16,929,828
91$23,650,593$6,037,640$3,868,658$18,485,761
92$25,993,226$6,263,757$3,928,531$20,196,133
93$28,572,610$6,498,756$3,988,212$22,076,598
94$31,412,827$6,743,005$4,047,627$24,144,405
95$34,540,408$6,996,886$4,106,695$26,418,559
96$37,984,592$7,260,795$4,165,332$28,920,003
97$41,777,596$7,535,150$4,223,447$31,671,814
98$45,954,922$7,820,383$4,280,943$34,699,420
99$50,555,689$8,116,948$4,337,720$38,030,841
100$55,623,006$8,425,314$4,393,670$41,696,953