Can I retire at age 66 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$184,977$183,329$181,722$180,153$178,621$173,180
2 years$91,573$89,867$88,215$86,612$85,057$79,623
3 years$60,442$58,729$57,081$55,493$53,964$48,706
4 years$44,880$43,172$41,540$39,980$38,488$33,446
5 years$35,545$33,848$32,237$30,708$29,258$24,447
6 years$29,324$27,639$26,052$24,558$23,151$18,574
7 years$24,882$23,211$21,649$20,190$18,828$14,486
8 years$21,552$19,896$18,360$16,937$15,619$11,509
9 years$18,963$17,323$15,814$14,427$13,154$9,270
10 years$16,893$15,270$13,787$12,436$11,208$7,546
11 years$15,201$13,594$12,138$10,823$9,639$6,192
12 years$13,792$12,201$10,772$9,493$8,353$5,115
13 years$12,600$11,026$9,624$8,381$7,284$4,246
14 years$11,580$10,022$8,647$7,440$6,385$3,540
15 years$10,696$9,156$7,807$6,635$5,622$2,961
16 years$9,924$8,400$7,078$5,941$4,969$2,484
17 years$9,243$7,736$6,441$5,338$4,406$2,089
18 years$8,639$7,149$5,880$4,810$3,917$1,759
19 years$8,099$6,625$5,383$4,347$3,491$1,485
20 years$7,613$6,157$4,940$3,937$3,119$1,254
21 years$7,174$5,735$4,544$3,573$2,791$1,061
22 years$6,776$5,353$4,188$3,249$2,502$898
23 years$6,413$5,007$3,867$2,959$2,246$761
24 years$6,080$4,691$3,576$2,698$2,018$645
25 years$5,775$4,402$3,312$2,464$1,816$547
26 years$5,494$4,137$3,072$2,253$1,636$465
27 years$5,234$3,894$2,853$2,062$1,475$395
28 years$4,992$3,669$2,652$1,890$1,331$335
29 years$4,768$3,461$2,468$1,733$1,202$285
30 years$4,560$3,269$2,299$1,590$1,086$242
31 years$4,365$3,090$2,143$1,461$982$206
32 years$4,182$2,924$1,999$1,342$888$175
33 years$4,012$2,769$1,867$1,234$804$149
34 years$3,851$2,624$1,744$1,136$728$126
35 years$3,700$2,489$1,631$1,045$659$108
36 years$3,558$2,363$1,526$963$597$92
37 years$3,423$2,244$1,428$887$541$78
38 years$3,296$2,132$1,337$818$491$66
39 years$3,176$2,028$1,253$754$445$56
40 years$3,062$1,929$1,174$695$404$48
41 years$2,954$1,836$1,101$642$366$41
42 years$2,852$1,749$1,033$592$332$35
43 years$2,754$1,666$969$547$302$30
44 years$2,661$1,588$910$505$274$25
45 years$2,573$1,515$854$466$248$21
46 years$2,489$1,445$802$431$226$18
47 years$2,408$1,379$754$398$205$15
48 years$2,331$1,316$708$368$186$13
49 years$2,257$1,257$666$340$169$11
50 years$2,187$1,201$626$314$153$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,240,000, adding $2,263 every year, while hoping to spend $25,182 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: 57/14/29 Blend
65$2,240,000$2,240,000$2,240,000$2,240,000
66$2,470,814$2,352,094$2,317,374$2,591,823
67$2,696,044$2,440,553$2,368,213$2,763,703
68$2,943,403$2,532,503$2,419,911$2,948,141
69$3,215,122$2,628,088$2,472,470$3,148,674
70$3,513,658$2,727,458$2,525,891$3,366,868
71$3,841,719$2,830,771$2,580,176$3,604,448
72$4,202,287$2,938,191$2,635,324$3,863,311
73$4,598,647$3,049,889$2,691,334$4,145,545
74$5,034,419$3,166,044$2,748,204$4,453,450
75$5,513,591$3,286,841$2,805,930$4,789,557
76$6,040,557$3,412,476$2,864,509$5,156,654
77$6,620,158$3,543,152$2,923,934$5,557,810
78$7,257,727$3,679,079$2,984,199$5,996,403
79$7,959,141$3,820,480$3,045,295$6,476,156
80$8,730,875$3,967,585$3,107,214$7,001,166
81$9,580,062$4,120,635$3,169,944$7,575,947
82$10,514,564$4,279,882$3,233,473$8,205,470
83$11,543,041$4,445,587$3,297,786$8,895,209
84$12,675,037$4,618,026$3,362,867$9,651,194
85$13,921,066$4,797,485$3,428,698$10,480,068
86$15,292,715$4,984,262$3,495,260$11,389,145
87$16,802,751$5,178,670$3,562,530$12,386,485
88$18,465,241$5,381,034$3,630,484$13,480,965
89$20,295,686$5,591,695$3,699,096$14,682,364
90$22,311,167$5,811,009$3,768,337$16,001,454
91$24,530,504$6,039,348$3,838,175$17,450,102
92$26,974,438$6,277,097$3,908,575$19,041,383
93$29,665,820$6,524,665$3,979,502$20,789,700
94$32,629,832$6,782,472$4,050,914$22,710,921
95$35,894,224$7,050,962$4,122,769$24,822,529
96$39,489,573$7,330,597$4,195,019$27,143,783
97$43,449,572$7,621,860$4,267,616$29,695,905
98$47,811,352$7,925,254$4,340,504$32,502,275
99$52,615,825$8,241,307$4,413,627$35,588,654
100$57,908,078$8,570,570$4,486,922$38,983,423