Can I retire at age 66 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$168,461$166,961$165,497$164,068$162,672$158,998
2 years$83,397$81,843$80,338$78,879$77,463$73,781
3 years$55,046$53,486$51,984$50,538$49,146$45,571
4 years$40,873$39,318$37,831$36,410$35,051$31,611
5 years$32,371$30,825$29,359$27,966$26,645$23,350
6 years$26,705$25,171$23,726$22,365$21,084$17,936
7 years$22,660$21,139$19,716$18,387$17,147$14,147
8 years$19,627$18,120$16,721$15,425$14,225$11,372
9 years$17,270$15,777$14,402$13,138$11,979$9,272
10 years$15,385$13,906$12,556$11,326$10,207$7,642
11 years$13,844$12,380$11,054$9,857$8,778$6,352
12 years$12,560$11,112$9,810$8,646$7,607$5,316
13 years$11,475$10,042$8,765$7,633$6,634$4,473
14 years$10,546$9,128$7,875$6,775$5,815$3,781
15 years$9,741$8,338$7,110$6,043$5,120$3,207
16 years$9,038$7,650$6,446$5,410$4,525$2,729
17 years$8,418$7,045$5,866$4,861$4,012$2,328
18 years$7,867$6,510$5,355$4,381$3,567$1,991
19 years$7,376$6,034$4,902$3,959$3,180$1,705
20 years$6,933$5,607$4,499$3,585$2,840$1,463
21 years$6,534$5,223$4,138$3,254$2,542$1,256
22 years$6,171$4,875$3,814$2,958$2,278$1,080
23 years$5,840$4,560$3,522$2,694$2,045$930
24 years$5,538$4,272$3,257$2,457$1,838$801
25 years$5,259$4,009$3,016$2,244$1,654$691
26 years$5,003$3,768$2,798$2,052$1,490$596
27 years$4,766$3,546$2,598$1,878$1,343$514
28 years$4,547$3,341$2,415$1,721$1,212$444
29 years$4,343$3,152$2,247$1,578$1,094$383
30 years$4,153$2,977$2,093$1,448$989$331
31 years$3,975$2,814$1,952$1,330$894$286
32 years$3,809$2,663$1,821$1,222$809$247
33 years$3,653$2,522$1,700$1,124$732$214
34 years$3,507$2,390$1,589$1,034$663$185
35 years$3,370$2,267$1,485$952$600$160
36 years$3,240$2,152$1,389$877$544$138
37 years$3,118$2,044$1,300$808$493$120
38 years$3,002$1,942$1,218$745$447$104
39 years$2,893$1,847$1,141$687$405$90
40 years$2,789$1,757$1,069$633$368$78
41 years$2,691$1,673$1,003$584$333$67
42 years$2,597$1,593$941$539$303$58
43 years$2,508$1,518$883$498$275$50
44 years$2,424$1,447$828$460$249$44
45 years$2,343$1,380$778$424$226$38
46 years$2,266$1,316$731$392$205$33
47 years$2,193$1,256$686$362$187$28
48 years$2,123$1,199$645$335$169$24
49 years$2,056$1,145$606$309$154$21
50 years$1,992$1,094$570$286$140$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,040,000, adding $6,365 every year, while hoping to spend $27,089 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: 50/27/23 Blend
65$2,040,000$2,040,000$2,040,000$2,040,000
66$2,254,645$2,146,525$2,114,905$2,352,521
67$2,455,797$2,222,883$2,156,932$2,497,518
68$2,676,558$2,302,074$2,199,459$2,651,761
69$2,918,900$2,384,208$2,242,474$2,818,846
70$3,184,995$2,469,402$2,285,964$3,000,001
71$3,477,235$2,557,773$2,329,915$3,196,574
72$3,798,255$2,649,447$2,374,310$3,410,048
73$4,150,960$2,744,552$2,419,132$3,642,056
74$4,538,547$2,843,224$2,464,362$3,894,393
75$4,964,540$2,945,603$2,509,979$4,169,036
76$5,432,820$3,051,835$2,555,960$4,468,161
77$5,947,665$3,162,072$2,602,282$4,794,160
78$6,513,786$3,276,473$2,648,918$5,149,669
79$7,136,375$3,395,202$2,695,839$5,537,588
80$7,821,150$3,518,432$2,743,014$5,961,110
81$8,574,413$3,646,341$2,790,411$6,423,750
82$9,403,108$3,779,117$2,837,994$6,929,378
83$10,314,883$3,916,952$2,885,726$7,482,256
84$11,318,169$4,060,050$2,933,565$8,087,075
85$12,422,252$4,208,622$2,981,469$8,749,002
86$13,637,364$4,362,887$3,029,391$9,473,727
87$14,974,781$4,523,075$3,077,282$10,267,515
88$16,446,926$4,689,423$3,125,088$11,137,268
89$18,067,489$4,862,181$3,172,755$12,090,584
90$19,851,553$5,041,608$3,220,223$13,135,835
91$21,815,739$5,227,974$3,267,427$14,282,240
92$23,978,361$5,421,561$3,314,302$15,539,954
93$26,359,598$5,622,663$3,360,776$16,920,163
94$28,981,689$5,831,584$3,406,774$18,435,187
95$31,869,135$6,048,646$3,452,214$20,098,601
96$35,048,936$6,274,180$3,497,014$21,925,354
97$38,550,846$6,508,533$3,541,082$23,931,918
98$42,407,649$6,752,067$3,584,324$26,136,437
99$46,655,471$7,005,160$3,626,641$28,558,900
100$51,334,121$7,268,205$3,667,926$31,221,328