Can I retire at age 65 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$244,434$242,257$240,132$238,059$236,035$228,114
2 years$121,007$118,753$116,569$114,451$112,397$104,496
3 years$79,870$77,607$75,428$73,330$71,310$63,675
4 years$59,306$57,049$54,892$52,830$50,859$43,549
5 years$46,970$44,727$42,599$40,579$38,662$31,697
6 years$38,749$36,523$34,426$32,451$30,592$23,978
7 years$32,879$30,672$28,608$26,680$24,879$18,614
8 years$28,479$26,292$24,262$22,381$20,640$14,720
9 years$25,058$22,892$20,897$19,064$17,382$11,799
10 years$22,323$20,178$18,218$16,433$14,810$9,556
11 years$20,087$17,963$16,039$14,302$12,737$7,802
12 years$18,225$16,123$14,234$12,545$11,038$6,409
13 years$16,650$14,570$12,717$11,075$9,625$5,292
14 years$15,302$13,244$11,427$9,831$8,437$4,388
15 years$14,135$12,099$10,317$8,768$7,429$3,649
16 years$13,114$11,100$9,354$7,850$6,566$3,044
17 years$12,214$10,223$8,511$7,054$5,822$2,544
18 years$11,416$9,446$7,770$6,357$5,176$2,131
19 years$10,702$8,755$7,113$5,744$4,614$1,787
20 years$10,060$8,135$6,528$5,202$4,121$1,501
21 years$9,480$7,578$6,004$4,721$3,688$1,261
22 years$8,954$7,074$5,534$4,293$3,306$1,061
23 years$8,474$6,616$5,110$3,909$2,967$894
24 years$8,035$6,199$4,726$3,566$2,667$753
25 years$7,631$5,817$4,377$3,256$2,400$635
26 years$7,260$5,467$4,059$2,977$2,162$535
27 years$6,916$5,145$3,769$2,725$1,949$452
28 years$6,597$4,848$3,504$2,497$1,759$381
29 years$6,301$4,574$3,261$2,290$1,588$322
30 years$6,025$4,319$3,037$2,101$1,435$272
31 years$5,768$4,083$2,832$1,930$1,297$229
32 years$5,527$3,864$2,642$1,774$1,173$194
33 years$5,301$3,659$2,467$1,631$1,062$164
34 years$5,089$3,468$2,305$1,501$962$138
35 years$4,889$3,289$2,155$1,382$871$117
36 years$4,701$3,122$2,016$1,272$789$99
37 years$4,524$2,965$1,887$1,172$715$83
38 years$4,356$2,818$1,767$1,081$648$70
39 years$4,197$2,680$1,655$996$588$60
40 years$4,047$2,549$1,552$919$533$50
41 years$3,904$2,427$1,455$848$484$43
42 years$3,769$2,311$1,365$782$439$36
43 years$3,640$2,202$1,281$722$398$30
44 years$3,517$2,099$1,202$667$362$26
45 years$3,400$2,002$1,129$616$328$22
46 years$3,288$1,909$1,060$569$298$18
47 years$3,182$1,822$996$526$271$16
48 years$3,080$1,740$936$486$246$13
49 years$2,983$1,661$880$449$223$11
50 years$2,890$1,587$827$415$203$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $2,960,000, adding $6,428 every year, while hoping to spend $26,660 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: 80/8/12 Blend
64$2,960,000$2,960,000$2,960,000$2,960,000
65$3,268,550$3,111,670$3,065,790$3,522,311
66$3,573,577$3,235,776$3,140,128$3,813,990
67$3,908,822$3,365,070$3,216,063$4,129,890
68$4,277,340$3,499,777$3,293,620$4,475,782
69$4,682,497$3,640,134$3,372,824$4,854,655
70$5,127,999$3,786,388$3,453,701$5,269,801
71$5,617,931$3,938,797$3,536,276$5,724,847
72$6,156,793$4,097,630$3,620,574$6,223,784
73$6,749,542$4,263,170$3,706,619$6,771,012
74$7,401,641$4,435,712$3,794,437$7,371,373
75$8,119,109$4,615,562$3,884,051$8,030,202
76$8,908,578$4,803,045$3,975,487$8,753,377
77$9,777,354$4,998,495$4,068,767$9,547,370
78$10,733,488$5,202,266$4,163,915$10,419,311
79$11,785,852$5,414,725$4,260,954$11,377,055
80$12,944,219$5,636,257$4,359,907$12,429,255
81$14,219,361$5,867,265$4,460,795$13,585,442
82$15,623,145$6,108,169$4,563,640$14,856,116
83$17,168,646$6,359,410$4,668,463$16,252,846
84$18,870,275$6,621,449$4,775,283$17,788,376
85$20,743,909$6,894,765$4,884,121$19,476,746
86$22,807,042$7,179,863$4,994,994$21,333,424
87$25,078,954$7,477,270$5,107,919$23,375,454
88$27,580,887$7,787,536$5,222,914$25,621,610
89$30,336,249$8,111,237$5,339,993$28,092,581
90$33,370,834$8,448,975$5,459,171$30,811,159
91$36,713,067$8,801,382$5,580,461$33,802,455
92$40,394,267$9,169,117$5,703,873$37,094,141
93$44,448,948$9,552,870$5,829,419$40,716,701
94$48,915,142$9,953,362$5,957,106$44,703,728
95$53,834,758$10,371,349$6,086,941$49,092,232
96$59,253,979$10,807,621$6,218,929$53,922,995
97$65,223,695$11,263,004$6,353,074$59,240,952
98$71,799,985$11,738,364$6,489,375$65,095,615
99$79,044,646$12,234,607$6,627,831$71,541,540
100$87,025,776$12,752,678$6,768,440$78,638,842