How long will $2 million last in retirement?
At $2 million, depletion is the wrong worry — at any withdrawal rate under 4%, the historical record says this portfolio outlives you. The interesting questions are what $6,667/month of sustainable income makes possible, how required minimum distributions at 75 will force income you may not want, and what the conversion window before then is worth. The calculator below handles the first question; the notes take on the other two.
Your inputs
$2.0M
Treat the return as after-inflation. 5% real ≈ a 60/40-to-80/20 portfolio's historical range.
How long it lasts
45.4 years
Net withdrawal of $9K/mo depletes $2.0M in 45.4 years at 5.0% real return.
Single-line projection, today's dollars. Methodology
This is a one-line projection.
Real retirement math has tax brackets, Social Security timing, healthcare premiums, RMDs, and Monte Carlo uncertainty. Granary models all of it against your actual accounts.
Get the full picture →The numbers behind $2 million
- The 4% guideline puts $2 million's sustainable draw at $80,000/year — about $6,667/month before Social Security or pensions.
- At $5,000/month of net spending (5% real return), $2 million lasts 70+ (effectively indefinite) years; at $10,000/month it lasts 35.9; at $16,750/month, 13.8.
- Social Security changes the math more than returns do: a typical $2,000/month benefit reduces the draw on the portfolio dollar-for-dollar — spending $10,000/month with that benefit only pulls $8,000/month from savings.
- These figures are in today's dollars with returns treated as real (after inflation) — so "lasts 25 years" means 25 years of constant purchasing power, not nominal dollars.
- Sequence-of-returns risk is the wildcard a single average hides: the same average return with a crash in years 1–5 depletes a portfolio years earlier than the identical crash in years 15–20.
Strategy notes for a $2 million retirement
At this level the question inverts: it is less "how long will the money last?" — under any historical scenario, a reasonable withdrawal rate lasts indefinitely — and more "what is the money for?" The mechanical answers: a 3–3.5% withdrawal rate is effectively perpetual in the historical record, RMDs at 75 will force taxable income whether you need it or not (which makes the pre-RMD years prime Roth conversion territory, often six figures per year at still-reasonable brackets), and estate/gifting strategy starts to matter as much as withdrawal strategy. The real risks are not depletion but concentration (a single stock or property dominating the balance sheet), unmanaged tax drag, and long-term care at the tail — covered either by self-insuring deliberately or by dedicated coverage. Spending guardrails beat fixed rules here: take more in good years, trim in bad ones, and the portfolio outlives you with room to spare. For $2 million specifically, the bracketing numbers worth memorizing: $5,000/month lasts 70+ (effectively indefinite) years on portfolio alone, and $10,000/month lasts 35.9 — your real plan lives between those lines once income is layered in.
Frequently asked questions
What monthly income does $2 million generate in retirement?
Using the 4% guideline, $2 million supports about $80,000 per year — $6,667/month — with historically high odds of lasting 30 years. A more conservative 3.5% rate, often recommended for retirements longer than 30 years, puts it at $5,833/month. Social Security and any pension add on top of that.
How long will $2 million last with Social Security included?
Much longer than the headline number, because the benefit reduces your portfolio draw dollar-for-dollar. Spending $10,000/month with a typical $2,000/month benefit only withdraws $8,000/month from savings, versus $10,000 without it. Use the "other monthly income" field in the calculator above to model your actual benefit estimate from ssa.gov.
Can $2 million run out in under 10 years?
Yes — overspending does it at any portfolio size. $2 million depletes inside a decade if net spending exceeds roughly $20,000/month sustained, or faster if a market crash lands in the first few years while withdrawals continue at full pace. That sequence-of-returns combination, not average returns, is what breaks retirements; a cash buffer covering 1–2 years of spending is the standard defense.
Is $2 million enough to retire on at all?
It depends on spending and what else exists: Social Security, a pension, a paid-off house. At $5,000/month of portfolio spending, $2 million lasts 70+ (effectively indefinite) years before any benefit is counted — and most households add $1,500–4,000/month of Social Security on top. The honest test isn't the balance, it's whether your real monthly budget minus guaranteed income stays under what the balance sustainably yields ($6,667/month by the 4% rule).