Can I retire at age 65 with 2,940,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$242,782$240,620$238,510$236,451$234,440$230,083
2 years$120,189$117,951$115,782$113,678$111,638$107,265
3 years$79,330$77,082$74,918$72,835$70,828$66,574
4 years$58,905$56,664$54,521$52,473$50,515$46,414
5 years$46,653$44,425$42,311$40,305$38,401$34,465
6 years$38,487$36,276$34,193$32,232$30,385$26,618
7 years$32,657$30,465$28,415$26,500$24,711$21,114
8 years$28,287$26,114$24,098$22,230$20,500$17,072
9 years$24,889$22,737$20,756$18,935$17,264$14,002
10 years$22,172$20,041$18,095$16,322$14,710$11,612
11 years$19,951$17,842$15,931$14,205$12,651$9,713
12 years$18,102$16,014$14,138$12,460$10,963$8,182
13 years$16,538$14,472$12,632$11,000$9,560$6,930
14 years$15,199$13,154$11,349$9,765$8,380$5,898
15 years$14,039$12,017$10,247$8,708$7,379$5,038
16 years$13,025$11,025$9,290$7,797$6,521$4,317
17 years$12,132$10,154$8,454$7,006$5,782$3,710
18 years$11,338$9,383$7,717$6,314$5,141$3,195
19 years$10,629$8,696$7,065$5,705$4,583$2,757
20 years$9,992$8,080$6,484$5,167$4,093$2,383
21 years$9,416$7,527$5,964$4,689$3,663$2,062
22 years$8,893$7,026$5,497$4,264$3,283$1,787
23 years$8,417$6,571$5,075$3,883$2,947$1,550
24 years$7,981$6,157$4,694$3,542$2,649$1,346
25 years$7,580$5,778$4,347$3,234$2,384$1,170
26 years$7,210$5,430$4,032$2,957$2,147$1,017
27 years$6,869$5,110$3,744$2,707$1,936$885
28 years$6,553$4,816$3,480$2,480$1,747$770
29 years$6,259$4,543$3,239$2,274$1,577$671
30 years$5,985$4,290$3,017$2,087$1,425$584
31 years$5,729$4,056$2,813$1,917$1,289$509
32 years$5,489$3,838$2,624$1,762$1,166$444
33 years$5,265$3,634$2,450$1,620$1,055$387
34 years$5,054$3,444$2,289$1,491$955$337
35 years$4,856$3,267$2,140$1,372$865$294
36 years$4,669$3,101$2,002$1,264$784$257
37 years$4,493$2,945$1,874$1,164$710$224
38 years$4,327$2,799$1,755$1,073$644$196
39 years$4,169$2,661$1,644$990$584$171
40 years$4,019$2,532$1,541$913$530$149
41 years$3,878$2,410$1,445$842$481$130
42 years$3,743$2,296$1,356$777$436$113
43 years$3,615$2,187$1,272$717$396$99
44 years$3,493$2,085$1,194$662$359$86
45 years$3,377$1,988$1,121$612$326$76
46 years$3,266$1,897$1,053$565$296$66
47 years$3,161$1,810$989$522$269$58
48 years$3,060$1,728$930$482$244$50
49 years$2,963$1,650$874$446$222$44
50 years$2,870$1,576$821$412$201$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $2,940,000, adding $3,501 every year, while hoping to spend $20,801 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: 69/20/11 Blend
64$2,940,000$2,940,000$2,940,000$2,940,000
65$3,243,491$3,087,671$3,042,101$3,459,618
66$3,552,195$3,216,835$3,121,880$3,732,677
67$3,891,690$3,351,631$3,203,633$4,028,455
68$4,265,094$3,492,312$3,287,407$4,351,483
69$4,675,843$3,639,145$3,373,245$4,704,435
70$5,127,724$3,792,408$3,461,193$5,090,253
71$5,624,907$3,952,392$3,551,298$5,512,176
72$6,171,989$4,119,400$3,643,608$5,973,767
73$6,774,034$4,293,752$3,738,171$6,478,949
74$7,436,621$4,475,782$3,835,035$7,032,041
75$8,165,898$4,665,837$3,934,250$7,637,797
76$8,968,640$4,864,283$4,035,868$8,301,450
77$9,852,311$5,071,503$4,139,939$9,028,761
78$10,825,135$5,287,895$4,246,516$9,826,075
79$11,896,177$5,513,880$4,355,652$10,700,377
80$13,075,421$5,749,894$4,467,401$11,659,358
81$14,373,872$5,996,397$4,581,817$12,711,488
82$15,803,655$6,253,868$4,698,955$13,866,094
83$17,378,130$6,522,810$4,818,873$15,133,446
84$19,112,021$6,803,750$4,941,627$16,524,858
85$21,021,550$7,097,237$5,067,274$18,052,786
86$23,124,595$7,403,848$5,195,875$19,730,951
87$25,440,854$7,724,186$5,327,487$21,574,466
88$27,992,034$8,058,884$5,462,170$23,599,975
89$30,802,055$8,408,603$5,599,987$25,825,814
90$33,897,275$8,774,036$5,740,997$28,272,175
91$37,306,741$9,155,907$5,885,264$30,961,305
92$41,062,458$9,554,976$6,032,850$33,917,707
93$45,199,696$9,972,038$6,183,818$37,168,374
94$49,757,323$10,407,925$6,338,234$40,743,041
95$54,778,166$10,863,510$6,496,161$44,674,465
96$60,309,421$11,339,704$6,657,664$48,998,730
97$66,403,097$11,837,464$6,822,811$53,755,592
98$73,116,504$12,357,791$6,991,666$58,988,847
99$80,512,798$12,901,733$7,164,297$64,746,743
100$88,661,573$13,470,388$7,340,771$71,082,438