Can I retire at age 65 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$245,260$243,075$240,944$238,863$236,832$235,044
2 years$121,416$119,154$116,963$114,838$112,777$110,975
3 years$80,140$77,869$75,683$73,578$71,550$69,789
4 years$59,506$57,242$55,078$53,009$51,030$49,324
5 years$47,129$44,878$42,743$40,716$38,792$37,146
6 years$38,880$36,646$34,542$32,561$30,695$29,110
7 years$32,990$30,776$28,705$26,770$24,963$23,441
8 years$28,575$26,380$24,344$22,457$20,710$19,250
9 years$25,143$22,969$20,967$19,128$17,440$16,043
10 years$22,399$20,246$18,280$16,489$14,860$13,524
11 years$20,155$18,024$16,093$14,350$12,780$11,504
12 years$18,286$16,177$14,282$12,587$11,075$9,859
13 years$16,707$14,619$12,760$11,112$9,658$8,499
14 years$15,354$13,289$11,465$9,864$8,466$7,364
15 years$14,182$12,139$10,352$8,797$7,454$6,407
16 years$13,158$11,138$9,385$7,877$6,588$5,595
17 years$12,256$10,257$8,540$7,077$5,841$4,900
18 years$11,454$9,478$7,796$6,378$5,194$4,302
19 years$10,738$8,784$7,137$5,763$4,629$3,786
20 years$10,094$8,163$6,550$5,220$4,135$3,339
21 years$9,512$7,603$6,025$4,737$3,700$2,949
22 years$8,984$7,098$5,553$4,307$3,317$2,608
23 years$8,503$6,638$5,127$3,923$2,977$2,310
24 years$8,062$6,220$4,742$3,578$2,676$2,048
25 years$7,657$5,837$4,392$3,267$2,408$1,818
26 years$7,284$5,486$4,073$2,987$2,169$1,615
27 years$6,939$5,163$3,782$2,735$1,956$1,436
28 years$6,619$4,865$3,516$2,505$1,765$1,277
29 years$6,322$4,589$3,272$2,298$1,593$1,137
30 years$6,046$4,334$3,048$2,109$1,440$1,012
31 years$5,787$4,097$2,841$1,937$1,302$902
32 years$5,545$3,877$2,651$1,780$1,177$804
33 years$5,319$3,671$2,475$1,637$1,066$717
34 years$5,106$3,480$2,313$1,506$965$640
35 years$4,906$3,300$2,162$1,386$874$571
36 years$4,717$3,132$2,023$1,277$792$509
37 years$4,539$2,975$1,893$1,176$718$455
38 years$4,371$2,827$1,773$1,084$651$406
39 years$4,211$2,689$1,661$1,000$590$363
40 years$4,060$2,558$1,557$922$535$324
41 years$3,917$2,435$1,460$851$485$289
42 years$3,781$2,319$1,369$785$441$259
43 years$3,652$2,210$1,285$725$400$231
44 years$3,529$2,106$1,206$669$363$206
45 years$3,411$2,008$1,133$618$329$185
46 years$3,300$1,916$1,064$571$299$165
47 years$3,193$1,828$999$527$272$147
48 years$3,091$1,745$939$487$247$132
49 years$2,993$1,667$883$450$224$118
50 years$2,900$1,592$830$416$203$105

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $2,970,000, adding $4,625 every year, while hoping to spend $21,483 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: 49/25/26 Blend
64$2,970,000$2,970,000$2,970,000$2,970,000
65$3,277,711$3,120,301$3,074,266$3,413,945
66$3,589,179$3,250,338$3,154,396$3,639,725
67$3,931,698$3,386,026$3,236,490$3,882,374
68$4,308,411$3,527,621$3,320,592$4,145,576
69$4,722,782$3,675,388$3,406,746$4,431,285
70$5,178,629$3,829,605$3,494,995$4,741,646
71$5,680,157$3,990,564$3,585,385$5,079,019
72$6,232,001$4,158,569$3,677,963$5,445,999
73$6,839,265$4,333,939$3,772,775$5,845,439
74$7,507,575$4,517,007$3,869,868$6,280,476
75$8,243,130$4,708,123$3,969,291$6,754,563
76$9,052,761$4,907,652$4,071,093$7,271,496
77$9,943,991$5,115,976$4,175,324$7,835,453
78$10,925,114$5,333,495$4,282,033$8,451,030
79$12,005,268$5,560,628$4,391,273$9,123,285
80$13,194,519$5,797,813$4,503,095$9,857,782
81$14,503,962$6,045,508$4,617,551$10,660,648
82$15,945,822$6,304,194$4,734,695$11,538,623
83$17,533,570$6,574,373$4,854,580$12,499,128
84$19,282,047$6,856,571$4,977,262$13,550,329
85$21,207,611$7,151,338$5,102,796$14,701,219
86$23,328,284$7,459,250$5,231,236$15,961,696
87$25,663,928$7,780,912$5,362,641$17,342,657
88$28,236,426$8,116,954$5,497,067$18,856,101
89$31,069,894$8,468,037$5,634,572$20,515,239
90$34,190,906$8,834,855$5,775,213$22,334,617
91$37,628,747$9,218,130$5,919,050$24,330,254
92$41,415,683$9,618,623$6,066,143$26,519,789
93$45,587,274$10,037,127$6,216,550$28,922,648
94$50,182,705$10,474,474$6,370,333$31,560,224
95$55,245,153$10,931,536$6,527,551$34,456,077
96$60,822,201$11,409,224$6,688,267$37,636,157
97$66,966,282$11,908,492$6,852,541$41,129,042
98$73,735,176$12,430,342$7,020,434$44,966,213
99$81,192,555$12,975,820$7,192,010$49,182,342
100$89,408,583$13,546,022$7,367,330$53,815,621