Can I retire at age 67 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$166,810$165,324$163,874$162,459$161,078$159,329
2 years$82,579$81,041$79,551$78,105$76,704$74,943
3 years$54,506$52,961$51,474$50,043$48,664$46,946
4 years$40,472$38,932$37,460$36,053$34,708$33,046
5 years$32,054$30,523$29,071$27,692$26,384$24,783
6 years$26,444$24,925$23,493$22,146$20,877$19,338
7 years$22,438$20,932$19,523$18,207$16,978$15,503
8 years$19,435$17,942$16,557$15,274$14,085$12,673
9 years$17,101$15,622$14,261$13,010$11,862$10,512
10 years$15,234$13,770$12,433$11,214$10,107$8,819
11 years$13,708$12,259$10,946$9,760$8,692$7,465
12 years$12,437$11,003$9,714$8,561$7,533$6,365
13 years$11,363$9,943$8,679$7,558$6,569$5,459
14 years$10,443$9,038$7,798$6,709$5,758$4,705
15 years$9,646$8,256$7,040$5,983$5,070$4,072
16 years$8,949$7,575$6,383$5,357$4,481$3,536
17 years$8,335$6,976$5,808$4,814$3,973$3,080
18 years$7,790$6,447$5,302$4,338$3,532$2,689
19 years$7,303$5,975$4,854$3,920$3,149$2,353
20 years$6,865$5,552$4,455$3,550$2,812$2,062
21 years$6,470$5,171$4,098$3,222$2,517$1,811
22 years$6,110$4,827$3,777$2,929$2,256$1,592
23 years$5,783$4,515$3,487$2,668$2,025$1,401
24 years$5,483$4,230$3,225$2,433$1,820$1,235
25 years$5,208$3,970$2,987$2,222$1,638$1,089
26 years$4,954$3,731$2,770$2,032$1,475$962
27 years$4,720$3,511$2,572$1,860$1,330$849
28 years$4,502$3,309$2,391$1,704$1,200$751
29 years$4,300$3,121$2,225$1,563$1,084$664
30 years$4,112$2,948$2,073$1,434$979$588
31 years$3,936$2,787$1,932$1,317$885$520
32 years$3,772$2,637$1,803$1,210$801$461
33 years$3,618$2,497$1,683$1,113$725$408
34 years$3,473$2,367$1,573$1,024$656$362
35 years$3,337$2,245$1,471$943$594$320
36 years$3,208$2,131$1,376$868$538$284
37 years$3,087$2,023$1,288$800$488$252
38 years$2,973$1,923$1,206$737$442$223
39 years$2,864$1,829$1,130$680$401$198
40 years$2,762$1,740$1,059$627$364$176
41 years$2,664$1,656$993$579$330$156
42 years$2,572$1,577$931$534$300$138
43 years$2,484$1,503$874$493$272$123
44 years$2,400$1,432$820$455$247$109
45 years$2,320$1,366$770$420$224$97
46 years$2,244$1,303$723$388$203$86
47 years$2,172$1,244$680$359$185$76
48 years$2,102$1,187$639$331$168$68
49 years$2,036$1,134$600$306$152$60
50 years$1,972$1,083$564$283$138$53

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,020,000, adding $5,485 every year, while hoping to spend $31,309 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: 62/17/21 Blend
66$2,020,000$2,020,000$2,020,000$2,020,000
67$2,231,698$2,124,638$2,093,328$2,357,553
68$2,426,018$2,195,432$2,130,142$2,513,998
69$2,639,110$2,268,647$2,167,140$2,680,760
70$2,872,855$2,344,366$2,204,294$2,862,116
71$3,129,326$2,422,679$2,241,578$3,059,492
72$3,410,805$2,503,678$2,278,958$3,274,457
73$3,719,806$2,587,458$2,316,403$3,508,740
74$4,059,101$2,674,118$2,353,876$3,764,243
75$4,431,739$2,763,760$2,391,342$4,043,061
76$4,841,083$2,856,491$2,428,758$4,347,501
77$5,290,836$2,952,420$2,466,083$4,680,104
78$5,785,075$3,051,663$2,503,271$5,043,666
79$6,328,297$3,154,339$2,540,275$5,441,270
80$6,925,450$3,260,569$2,577,041$5,876,309
81$7,581,991$3,370,482$2,613,517$6,352,521
82$8,303,929$3,484,210$2,649,645$6,874,024
83$9,097,885$3,601,891$2,685,363$7,445,351
84$9,971,153$3,723,668$2,720,606$8,071,500
85$10,931,771$3,849,688$2,755,307$8,757,972
86$11,988,594$3,980,105$2,789,392$9,510,831
87$13,151,379$4,115,078$2,822,785$10,336,754
88$14,430,877$4,254,774$2,855,406$11,243,098
89$15,838,932$4,399,364$2,887,168$12,237,969
90$17,388,596$4,549,026$2,917,981$13,330,297
91$19,094,250$4,703,945$2,947,750$14,529,919
92$20,971,739$4,864,314$2,976,375$15,847,674
93$23,038,523$5,030,332$3,003,751$17,295,505
94$25,313,841$5,202,207$3,029,765$18,886,568
95$27,818,891$5,380,153$3,054,300$20,635,361
96$30,577,031$5,564,394$3,077,232$22,557,856
97$33,614,001$5,755,162$3,098,432$24,671,653
98$36,958,163$5,952,699$3,117,763$26,996,143
99$40,640,768$6,157,254$3,135,081$29,552,692
100$44,696,255$6,369,087$3,150,235$32,364,844