Can I retire at age 65 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$243,608$241,438$239,321$237,255$235,237$232,201
2 years$120,598$118,352$116,175$114,065$112,018$108,964
3 years$79,600$77,344$75,173$73,082$71,069$68,091
4 years$59,105$56,856$54,707$52,652$50,687$47,809
5 years$46,811$44,576$42,455$40,442$38,531$35,761
6 years$38,618$36,400$34,310$32,341$30,488$27,829
7 years$32,768$30,568$28,512$26,590$24,795$22,248
8 years$28,383$26,203$24,180$22,305$20,570$18,135
9 years$24,974$22,814$20,826$18,999$17,323$14,999
10 years$22,248$20,110$18,157$16,378$14,760$12,545
11 years$20,019$17,902$15,985$14,253$12,694$10,586
12 years$18,163$16,068$14,186$12,502$11,000$8,997
13 years$16,594$14,521$12,674$11,038$9,593$7,692
14 years$15,250$13,199$11,388$9,798$8,409$6,607
15 years$14,087$12,058$10,282$8,738$7,404$5,699
16 years$13,070$11,063$9,322$7,824$6,544$4,932
17 years$12,173$10,188$8,483$7,030$5,802$4,280
18 years$11,377$9,414$7,744$6,335$5,159$3,724
19 years$10,666$8,725$7,089$5,724$4,598$3,246
20 years$10,026$8,108$6,506$5,185$4,107$2,835
21 years$9,448$7,552$5,984$4,705$3,675$2,480
22 years$8,924$7,050$5,515$4,278$3,295$2,172
23 years$8,445$6,593$5,092$3,896$2,957$1,905
24 years$8,008$6,178$4,710$3,554$2,658$1,672
25 years$7,606$5,797$4,362$3,245$2,392$1,469
26 years$7,235$5,449$4,046$2,967$2,155$1,292
27 years$6,892$5,128$3,757$2,716$1,943$1,137
28 years$6,575$4,832$3,492$2,489$1,753$1,001
29 years$6,280$4,558$3,250$2,282$1,583$881
30 years$6,005$4,305$3,027$2,094$1,430$777
31 years$5,748$4,070$2,822$1,923$1,293$685
32 years$5,508$3,851$2,633$1,768$1,170$604
33 years$5,283$3,647$2,459$1,626$1,058$533
34 years$5,072$3,456$2,297$1,496$958$470
35 years$4,873$3,278$2,148$1,377$868$415
36 years$4,685$3,111$2,009$1,268$786$366
37 years$4,508$2,955$1,880$1,168$713$323
38 years$4,341$2,808$1,761$1,077$646$286
39 years$4,183$2,671$1,650$993$586$252
40 years$4,033$2,541$1,546$916$531$223
41 years$3,891$2,419$1,450$845$482$197
42 years$3,756$2,303$1,360$780$438$174
43 years$3,627$2,195$1,276$720$397$154
44 years$3,505$2,092$1,198$665$360$136
45 years$3,388$1,995$1,125$614$327$120
46 years$3,277$1,903$1,057$567$297$106
47 years$3,171$1,816$993$524$270$94
48 years$3,070$1,734$933$484$245$83
49 years$2,973$1,656$877$447$223$73
50 years$2,880$1,581$824$414$202$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $2,950,000, adding $3,616 every year, while hoping to spend $52,671 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: 52/30/18 Blend
64$2,950,000$2,950,000$2,950,000$2,950,000
65$3,254,630$3,098,280$3,052,555$3,407,653
66$3,530,561$3,194,054$3,098,774$3,608,920
67$3,832,871$3,292,756$3,144,776$3,821,906
68$4,164,196$3,394,473$3,190,498$4,052,419
69$4,527,438$3,499,296$3,235,874$4,302,139
70$4,925,793$3,607,318$3,280,832$4,572,913
71$5,362,782$3,718,635$3,325,298$4,866,776
72$5,842,283$3,833,345$3,369,192$5,185,966
73$6,368,566$3,951,549$3,412,431$5,532,946
74$6,946,336$4,073,352$3,454,924$5,910,430
75$7,580,777$4,198,861$3,496,578$6,321,404
76$8,277,597$4,328,186$3,537,295$6,769,155
77$9,043,086$4,461,440$3,576,968$7,257,303
78$9,884,171$4,598,741$3,615,487$7,789,836
79$10,808,486$4,740,209$3,652,735$8,371,144
80$11,824,439$4,885,967$3,688,589$9,006,060
81$12,941,294$5,036,141$3,722,919$9,699,910
82$14,169,257$5,190,864$3,755,588$10,458,558
83$15,519,573$5,350,268$3,786,452$11,288,463
84$17,004,630$5,514,492$3,815,359$12,196,740
85$18,638,079$5,683,678$3,842,149$13,191,225
86$20,434,956$5,857,971$3,866,655$14,280,552
87$22,411,833$6,037,523$3,888,698$15,474,229
88$24,586,965$6,222,487$3,908,095$16,782,733
89$26,980,468$6,413,021$3,924,649$18,217,604
90$29,614,505$6,609,289$3,938,155$19,791,557
91$32,513,499$6,811,458$3,948,397$21,518,598
92$35,704,357$7,019,700$3,955,149$23,414,160
93$39,216,728$7,234,193$3,958,173$25,495,244
94$43,083,283$7,455,117$3,957,221$27,780,583
95$47,340,019$7,682,659$3,952,029$30,290,816
96$52,026,604$7,917,012$3,942,324$33,048,682
97$57,186,744$8,158,372$3,927,819$36,079,236
98$62,868,601$8,406,941$3,908,210$39,410,085
99$69,125,244$8,662,928$3,883,181$43,071,646
100$76,015,153$8,926,545$3,852,402$47,097,437