Can I retire at age 66 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$170,113$168,598$167,119$165,676$164,267$158,376
2 years$84,214$82,646$81,126$79,652$78,223$72,351
3 years$55,585$54,010$52,494$51,034$49,628$43,960
4 years$41,273$39,703$38,202$36,767$35,395$29,975
5 years$32,689$31,128$29,646$28,241$26,907$21,748
6 years$26,967$25,418$23,959$22,584$21,290$16,397
7 years$22,882$21,346$19,910$18,568$17,315$12,686
8 years$19,820$18,298$16,885$15,576$14,364$9,996
9 years$17,439$15,931$14,543$13,267$12,097$7,983
10 years$15,536$14,043$12,679$11,437$10,307$6,441
11 years$13,980$12,501$11,162$9,953$8,864$5,238
12 years$12,684$11,221$9,906$8,730$7,682$4,286
13 years$11,588$10,140$8,851$7,708$6,699$3,525
14 years$10,649$9,217$7,952$6,842$5,872$2,910
15 years$9,837$8,420$7,180$6,102$5,170$2,410
16 years$9,127$7,725$6,510$5,463$4,569$2,001
17 years$8,501$7,115$5,924$4,909$4,052$1,666
18 years$7,945$6,574$5,407$4,424$3,602$1,389
19 years$7,448$6,093$4,950$3,997$3,211$1,159
20 years$7,001$5,662$4,543$3,620$2,868$969
21 years$6,598$5,274$4,179$3,286$2,567$811
22 years$6,231$4,923$3,851$2,987$2,301$679
23 years$5,897$4,604$3,556$2,721$2,065$569
24 years$5,592$4,314$3,289$2,481$1,856$477
25 years$5,311$4,048$3,046$2,266$1,670$400
26 years$5,052$3,805$2,825$2,072$1,505$336
27 years$4,813$3,581$2,623$1,897$1,356$282
28 years$4,591$3,374$2,439$1,738$1,224$237
29 years$4,385$3,183$2,269$1,594$1,105$199
30 years$4,193$3,006$2,114$1,462$999$167
31 years$4,014$2,842$1,971$1,343$903$140
32 years$3,846$2,689$1,839$1,234$817$118
33 years$3,689$2,546$1,717$1,135$739$99
34 years$3,542$2,413$1,604$1,044$669$83
35 years$3,403$2,289$1,500$961$606$70
36 years$3,272$2,173$1,403$885$549$59
37 years$3,148$2,064$1,313$816$498$50
38 years$3,032$1,961$1,230$752$451$42
39 years$2,921$1,865$1,152$693$409$35
40 years$2,816$1,774$1,080$640$371$29
41 years$2,717$1,689$1,013$590$337$25
42 years$2,623$1,608$950$545$306$21
43 years$2,533$1,533$891$503$277$18
44 years$2,448$1,461$837$464$252$15
45 years$2,366$1,393$786$429$228$12
46 years$2,289$1,329$738$396$207$10
47 years$2,215$1,268$693$366$188$9
48 years$2,144$1,211$651$338$171$7
49 years$2,076$1,156$612$312$155$6
50 years$2,011$1,104$576$289$141$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,060,000, adding $5,896 every year, while hoping to spend $55,970 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: 74/19/7 Blend
65$2,060,000$2,060,000$2,060,000$2,060,000
66$2,276,202$2,167,022$2,135,092$2,442,039
67$2,448,823$2,213,654$2,147,066$2,598,688
68$2,637,175$2,260,696$2,157,565$2,762,584
69$2,842,804$2,308,107$2,166,481$2,940,534
70$3,067,412$2,355,846$2,173,699$3,133,908
71$3,312,871$2,403,865$2,179,101$3,344,216
72$3,581,243$2,452,114$2,182,560$3,573,120
73$3,874,798$2,500,536$2,183,945$3,822,450
74$4,196,037$2,549,072$2,183,116$4,094,224
75$4,547,711$2,597,654$2,179,929$4,390,663
76$4,932,852$2,646,214$2,174,230$4,714,213
77$5,354,797$2,694,673$2,165,862$5,067,570
78$5,817,223$2,742,948$2,154,654$5,453,703
79$6,324,177$2,790,950$2,140,433$5,875,883
80$6,880,119$2,838,583$2,123,014$6,337,713
81$7,489,960$2,885,742$2,102,204$6,843,164
82$8,159,109$2,932,317$2,077,800$7,396,612
83$8,893,524$2,978,186$2,049,592$8,002,874
84$9,699,768$3,023,222$2,017,359$8,667,263
85$10,585,071$3,067,286$1,980,867$9,395,629
86$11,557,397$3,110,232$1,939,874$10,194,421
87$12,625,518$3,151,900$1,894,126$11,070,742
88$13,799,099$3,192,121$1,843,358$12,032,422
89$15,088,788$3,230,716$1,787,291$13,088,087
90$16,506,314$3,267,490$1,725,635$14,247,243
91$18,064,599$3,302,238$1,658,085$15,520,365
92$19,777,880$3,334,740$1,584,323$16,918,998
93$21,661,843$3,364,761$1,504,016$18,455,861
94$23,733,769$3,392,052$1,416,819$20,144,972
95$26,012,697$3,416,346$1,322,366$22,001,778
96$28,519,605$3,437,361$1,220,278$24,043,304
97$31,277,607$3,454,794$1,110,160$26,288,310
98$34,312,169$3,468,324$991,596$28,757,468
99$37,651,349$3,477,612$864,154$31,473,561
100$41,326,066$3,482,293$727,382$34,461,698