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%15.1%
1 years$244,434$242,257$240,132$238,059$236,035$231,080
2 years$121,007$118,753$116,569$114,451$112,397$107,429
3 years$79,870$77,607$75,428$73,330$71,310$66,483
4 years$59,306$57,049$54,892$52,830$50,859$46,210
5 years$46,970$44,727$42,599$40,579$38,662$34,205
6 years$38,749$36,523$34,426$32,451$30,592$26,331
7 years$32,879$30,672$28,608$26,680$24,879$20,816
8 years$28,479$26,292$24,262$22,381$20,640$16,773
9 years$25,058$22,892$20,897$19,064$17,382$13,708
10 years$22,323$20,178$18,218$16,433$14,810$11,326
11 years$20,087$17,963$16,039$14,302$12,737$9,438
12 years$18,225$16,123$14,234$12,545$11,038$7,919
13 years$16,650$14,570$12,717$11,075$9,625$6,681
14 years$15,302$13,244$11,427$9,831$8,437$5,662
15 years$14,135$12,099$10,317$8,768$7,429$4,817
16 years$13,114$11,100$9,354$7,850$6,566$4,111
17 years$12,214$10,223$8,511$7,054$5,822$3,517
18 years$11,416$9,446$7,770$6,357$5,176$3,016
19 years$10,702$8,755$7,113$5,744$4,614$2,591
20 years$10,060$8,135$6,528$5,202$4,121$2,229
21 years$9,480$7,578$6,004$4,721$3,688$1,921
22 years$8,954$7,074$5,534$4,293$3,306$1,657
23 years$8,474$6,616$5,110$3,909$2,967$1,430
24 years$8,035$6,199$4,726$3,566$2,667$1,236
25 years$7,631$5,817$4,377$3,256$2,400$1,069
26 years$7,260$5,467$4,059$2,977$2,162$925
27 years$6,916$5,145$3,769$2,725$1,949$801
28 years$6,597$4,848$3,504$2,497$1,759$694
29 years$6,301$4,574$3,261$2,290$1,588$601
30 years$6,025$4,319$3,037$2,101$1,435$521
31 years$5,768$4,083$2,832$1,930$1,297$452
32 years$5,527$3,864$2,642$1,774$1,173$392
33 years$5,301$3,659$2,467$1,631$1,062$340
34 years$5,089$3,468$2,305$1,501$962$295
35 years$4,889$3,289$2,155$1,382$871$256
36 years$4,701$3,122$2,016$1,272$789$222
37 years$4,524$2,965$1,887$1,172$715$193
38 years$4,356$2,818$1,767$1,081$648$167
39 years$4,197$2,680$1,655$996$588$145
40 years$4,047$2,549$1,552$919$533$126
41 years$3,904$2,427$1,455$848$484$110
42 years$3,769$2,311$1,365$782$439$95
43 years$3,640$2,202$1,281$722$398$83
44 years$3,517$2,099$1,202$667$362$72
45 years$3,400$2,002$1,129$616$328$62
46 years$3,288$1,909$1,060$569$298$54
47 years$3,182$1,822$996$526$271$47
48 years$3,080$1,740$936$486$246$41
49 years$2,983$1,661$880$449$223$36
50 years$2,890$1,587$827$415$203$31

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 $2,975 every year, while hoping to spend $27,750 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: 66/27/7 Blend
64$2,960,000$2,960,000$2,960,000$2,960,000
65$3,264,989$3,108,109$3,062,229$3,476,284
66$3,568,492$3,230,880$3,135,288$3,739,788
67$3,902,022$3,358,738$3,209,864$4,024,056
68$4,268,613$3,491,900$3,285,979$4,333,987
69$4,671,607$3,630,599$3,363,655$4,672,077
70$5,114,685$3,775,073$3,442,912$5,041,075
71$5,601,905$3,925,573$3,523,771$5,444,003
72$6,137,734$4,082,361$3,606,252$5,884,187
73$6,727,099$4,245,712$3,690,377$6,365,288
74$7,375,422$4,415,912$3,776,164$6,891,334
75$8,088,683$4,593,259$3,863,634$7,466,760
76$8,873,467$4,778,067$3,952,803$8,096,445
77$9,737,030$4,970,662$4,043,692$8,785,761
78$10,687,369$5,171,386$4,136,318$9,540,622
79$11,733,293$5,380,596$4,230,697$10,367,538
80$12,884,509$5,598,666$4,326,845$11,273,675
81$14,151,714$5,825,985$4,424,779$12,266,926
82$15,546,692$6,062,962$4,524,513$13,355,979
83$17,082,431$6,310,023$4,626,060$14,550,401
84$18,773,239$6,567,615$4,729,433$15,860,726
85$20,634,885$6,836,203$4,834,644$17,298,556
86$22,684,741$7,116,275$4,941,703$18,876,667
87$24,941,953$7,408,341$5,050,619$20,609,128
88$27,427,618$7,712,935$5,161,400$22,511,433
89$30,164,980$8,030,614$5,274,051$24,600,650
90$33,179,654$8,361,961$5,388,579$26,895,573
91$36,499,868$8,707,586$5,504,986$29,416,906
92$40,156,724$9,068,127$5,623,272$32,187,452
93$44,184,497$9,444,252$5,743,438$35,232,327
94$48,620,953$9,836,658$5,865,481$38,579,199
95$53,507,711$10,246,075$5,989,396$42,258,544
96$58,890,633$10,673,268$6,115,176$46,303,933
97$64,820,255$11,119,035$6,242,811$50,752,349
98$71,352,265$11,584,212$6,372,289$55,644,532
99$78,548,031$12,069,673$6,503,596$61,025,361
100$86,475,177$12,576,334$6,636,714$66,944,280