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

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$245,260$243,075$240,944$238,863$236,832$229,988
2 years$121,416$119,154$116,963$114,838$112,777$105,937
3 years$80,140$77,869$75,683$73,578$71,550$64,927
4 years$59,506$57,242$55,078$53,009$51,030$44,676
5 years$47,129$44,878$42,743$40,716$38,792$32,723
6 years$38,880$36,646$34,542$32,561$30,695$24,917
7 years$32,990$30,776$28,705$26,770$24,963$19,477
8 years$28,575$26,380$24,344$22,457$20,710$15,511
9 years$25,143$22,969$20,967$19,128$17,440$12,524
10 years$22,399$20,246$18,280$16,489$14,860$10,220
11 years$20,155$18,024$16,093$14,350$12,780$8,409
12 years$18,286$16,177$14,282$12,587$11,075$6,963
13 years$16,707$14,619$12,760$11,112$9,658$5,797
14 years$15,354$13,289$11,465$9,864$8,466$4,846
15 years$14,182$12,139$10,352$8,797$7,454$4,065
16 years$13,158$11,138$9,385$7,877$6,588$3,420
17 years$12,256$10,257$8,540$7,077$5,841$2,884
18 years$11,454$9,478$7,796$6,378$5,194$2,437
19 years$10,738$8,784$7,137$5,763$4,629$2,062
20 years$10,094$8,163$6,550$5,220$4,135$1,748
21 years$9,512$7,603$6,025$4,737$3,700$1,483
22 years$8,984$7,098$5,553$4,307$3,317$1,259
23 years$8,503$6,638$5,127$3,923$2,977$1,070
24 years$8,062$6,220$4,742$3,578$2,676$910
25 years$7,657$5,837$4,392$3,267$2,408$775
26 years$7,284$5,486$4,073$2,987$2,169$660
27 years$6,939$5,163$3,782$2,735$1,956$562
28 years$6,619$4,865$3,516$2,505$1,765$479
29 years$6,322$4,589$3,272$2,298$1,593$408
30 years$6,046$4,334$3,048$2,109$1,440$348
31 years$5,787$4,097$2,841$1,937$1,302$297
32 years$5,545$3,877$2,651$1,780$1,177$253
33 years$5,319$3,671$2,475$1,637$1,066$216
34 years$5,106$3,480$2,313$1,506$965$184
35 years$4,906$3,300$2,162$1,386$874$157
36 years$4,717$3,132$2,023$1,277$792$134
37 years$4,539$2,975$1,893$1,176$718$115
38 years$4,371$2,827$1,773$1,084$651$98
39 years$4,211$2,689$1,661$1,000$590$84
40 years$4,060$2,558$1,557$922$535$71
41 years$3,917$2,435$1,460$851$485$61
42 years$3,781$2,319$1,369$785$441$52
43 years$3,652$2,210$1,285$725$400$44
44 years$3,529$2,106$1,206$669$363$38
45 years$3,411$2,008$1,133$618$329$32
46 years$3,300$1,916$1,064$571$299$28
47 years$3,193$1,828$999$527$272$24
48 years$3,091$1,745$939$487$247$20
49 years$2,993$1,667$883$450$224$17
50 years$2,900$1,592$830$416$203$15

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 $5,358 every year, while hoping to spend $29,188 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: 44/44/12 Blend
64$2,970,000$2,970,000$2,970,000$2,970,000
65$3,278,467$3,121,057$3,075,022$3,411,193
66$3,581,815$3,242,933$3,146,979$3,626,035
67$3,915,126$3,369,802$3,220,369$3,855,379
68$4,281,425$3,501,880$3,295,208$4,103,305
69$4,684,047$3,639,388$3,371,514$4,371,533
70$5,126,662$3,782,560$3,449,302$4,661,954
71$5,613,316$3,931,640$3,528,588$4,976,643
72$6,148,467$4,086,883$3,609,388$5,317,883
73$6,737,025$4,248,555$3,691,717$5,688,177
74$7,384,400$4,416,933$3,775,588$6,090,280
75$8,096,554$4,592,307$3,861,016$6,527,218
76$8,880,054$4,774,982$3,948,011$7,002,318
77$9,742,138$4,965,274$4,036,588$7,519,235
78$10,690,777$5,163,514$4,126,755$8,081,991
79$11,734,759$5,370,049$4,218,524$8,695,006
80$12,883,763$5,585,240$4,311,903$9,363,143
81$14,148,455$5,809,465$4,406,900$10,091,748
82$15,540,588$6,043,119$4,503,522$10,886,704
83$17,073,112$6,286,616$4,601,774$11,754,480
84$18,760,296$6,540,387$4,701,659$12,702,197
85$20,617,863$6,804,882$4,803,182$13,737,686
86$22,663,138$7,080,575$4,906,341$14,869,566
87$24,915,212$7,367,957$5,011,138$16,107,321
88$27,395,122$7,667,545$5,117,569$17,461,389
89$30,126,047$7,979,877$5,225,630$18,943,258
90$33,133,530$8,305,517$5,335,315$20,565,572
91$36,445,716$8,645,055$5,446,615$22,342,251
92$40,093,622$8,999,105$5,559,519$24,288,615
93$44,111,423$9,368,313$5,674,015$26,421,532
94$48,536,780$9,753,351$5,790,086$28,759,572
95$53,411,192$10,154,926$5,907,714$31,323,180
96$58,780,389$10,573,773$6,026,878$34,134,867
97$64,694,764$11,010,663$6,147,553$37,219,421
98$71,209,846$11,466,402$6,269,713$40,604,136
99$78,386,828$11,941,833$6,393,326$44,319,067
100$86,293,139$12,437,838$6,518,357$48,397,314