Can I retire at age 65 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$246,911$244,712$242,566$240,472$238,427$235,155
2 years$122,233$119,957$117,751$115,611$113,537$110,246
3 years$80,679$78,393$76,192$74,073$72,032$68,825
4 years$59,907$57,627$55,449$53,366$51,374$48,275
5 years$47,446$45,180$43,030$40,990$39,054$36,072
6 years$39,142$36,893$34,775$32,780$30,902$28,041
7 years$33,213$30,983$28,898$26,950$25,131$22,393
8 years$28,768$26,558$24,508$22,608$20,849$18,232
9 years$25,312$23,124$21,109$19,257$17,558$15,061
10 years$22,550$20,382$18,403$16,600$14,960$12,582
11 years$20,291$18,145$16,202$14,447$12,866$10,604
12 years$18,410$16,286$14,379$12,672$11,150$9,001
13 years$16,819$14,718$12,846$11,187$9,723$7,685
14 years$15,457$13,378$11,542$9,931$8,523$6,593
15 years$14,278$12,221$10,421$8,856$7,504$5,678
16 years$13,247$11,213$9,448$7,930$6,632$4,907
17 years$12,338$10,326$8,598$7,125$5,881$4,253
18 years$11,531$9,542$7,849$6,421$5,229$3,695
19 years$10,810$8,844$7,185$5,802$4,660$3,216
20 years$10,162$8,218$6,594$5,255$4,163$2,805
21 years$9,576$7,655$6,065$4,769$3,725$2,450
22 years$9,045$7,145$5,590$4,336$3,339$2,143
23 years$8,560$6,683$5,161$3,949$2,997$1,876
24 years$8,116$6,261$4,773$3,602$2,694$1,644
25 years$7,709$5,876$4,421$3,289$2,424$1,442
26 years$7,333$5,523$4,100$3,008$2,184$1,266
27 years$6,986$5,197$3,808$2,753$1,969$1,112
28 years$6,664$4,897$3,540$2,522$1,777$978
29 years$6,365$4,620$3,294$2,313$1,604$860
30 years$6,086$4,363$3,068$2,123$1,449$756
31 years$5,826$4,125$2,860$1,950$1,310$666
32 years$5,583$3,903$2,669$1,792$1,185$586
33 years$5,355$3,696$2,492$1,648$1,073$516
34 years$5,140$3,503$2,328$1,516$971$455
35 years$4,939$3,323$2,177$1,396$880$401
36 years$4,749$3,154$2,036$1,285$797$353
37 years$4,570$2,995$1,906$1,184$722$311
38 years$4,400$2,846$1,785$1,091$655$274
39 years$4,240$2,707$1,672$1,006$594$242
40 years$4,088$2,575$1,567$928$539$213
41 years$3,944$2,451$1,470$856$489$188
42 years$3,807$2,335$1,379$790$443$166
43 years$3,676$2,224$1,294$730$402$146
44 years$3,553$2,120$1,214$674$365$129
45 years$3,434$2,022$1,140$622$332$114
46 years$3,322$1,929$1,071$575$301$100
47 years$3,214$1,841$1,006$531$273$89
48 years$3,112$1,757$945$491$248$78
49 years$3,013$1,678$889$453$226$69
50 years$2,919$1,603$835$419$205$61

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $2,990,000, adding $2,805 every year, while hoping to spend $27,834 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: 62/20/18 Blend
64$2,990,000$2,990,000$2,990,000$2,990,000
65$3,297,873$3,139,403$3,093,058$3,487,059
66$3,604,641$3,263,619$3,167,061$3,739,052
67$3,941,767$3,392,988$3,242,609$4,010,660
68$4,312,317$3,527,734$3,319,726$4,306,526
69$4,719,670$3,668,090$3,398,434$4,629,013
70$5,167,550$3,814,300$3,478,755$4,980,721
71$5,660,057$3,966,618$3,560,711$5,364,507
72$6,201,710$4,125,310$3,644,322$5,783,521
73$6,797,489$4,290,655$3,729,611$6,241,225
74$7,452,878$4,462,942$3,816,598$6,741,432
75$8,173,921$4,642,475$3,905,304$7,288,341
76$8,967,277$4,829,573$3,995,748$7,886,569
77$9,840,284$5,024,566$4,087,949$8,541,204
78$10,801,025$5,227,802$4,181,928$9,257,847
79$11,858,408$5,439,643$4,277,701$10,042,661
80$13,022,248$5,660,468$4,375,286$10,902,436
81$14,303,360$5,890,673$4,474,701$11,844,648
82$15,713,659$6,130,673$4,575,960$12,877,528
83$17,266,277$6,380,900$4,679,079$14,010,140
84$18,975,681$6,641,809$4,784,072$15,252,469
85$20,857,814$6,913,871$4,890,953$16,615,508
86$22,930,243$7,197,583$4,999,732$18,111,367
87$25,212,326$7,493,462$5,110,420$19,753,380
88$27,725,391$7,802,049$5,223,027$21,556,239
89$30,492,943$8,123,912$5,337,561$23,536,121
90$33,540,882$8,459,643$5,454,028$25,710,848
91$36,897,747$8,809,860$5,572,433$28,100,050
92$40,594,987$9,175,213$5,692,779$30,725,351
93$44,667,256$9,556,378$5,815,067$33,610,571
94$49,152,740$9,954,065$5,939,296$36,781,949
95$54,093,522$10,369,016$6,065,464$40,268,392
96$59,535,969$10,802,006$6,193,566$44,101,743
97$65,531,181$11,253,848$6,323,594$48,317,084
98$72,135,465$11,725,389$6,455,537$52,953,063
99$79,410,869$12,217,520$6,589,384$58,052,257
100$87,425,768$12,731,169$6,725,119$63,661,576