Can I retire at age 66 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$226,267$224,251$222,285$220,366$218,491$214,431
2 years$112,013$109,927$107,905$105,945$104,044$99,968
3 years$73,934$71,839$69,822$67,880$66,010$62,046
4 years$54,898$52,809$50,812$48,904$47,079$43,257
5 years$43,479$41,403$39,433$37,563$35,788$32,120
6 years$35,869$33,809$31,867$30,039$28,318$24,807
7 years$30,436$28,392$26,482$24,697$23,030$19,677
8 years$26,362$24,337$22,459$20,718$19,106$15,910
9 years$23,196$21,190$19,344$17,647$16,090$13,050
10 years$20,664$18,678$16,864$15,212$13,709$10,822
11 years$18,594$16,628$14,847$13,239$11,790$9,053
12 years$16,870$14,924$13,176$11,612$10,217$7,625
13 years$15,413$13,487$11,772$10,252$8,910$6,459
14 years$14,165$12,260$10,577$9,100$7,810$5,496
15 years$13,084$11,199$9,550$8,116$6,877$4,695
16 years$12,139$10,275$8,658$7,267$6,078$4,024
17 years$11,307$9,463$7,879$6,529$5,389$3,457
18 years$10,567$8,744$7,192$5,884$4,792$2,978
19 years$9,906$8,104$6,584$5,317$4,271$2,569
20 years$9,312$7,531$6,043$4,815$3,815$2,221
21 years$8,776$7,015$5,558$4,370$3,414$1,922
22 years$8,288$6,548$5,123$3,974$3,060$1,666
23 years$7,844$6,124$4,730$3,619$2,747$1,445
24 years$7,438$5,738$4,374$3,301$2,469$1,255
25 years$7,064$5,385$4,052$3,014$2,222$1,090
26 years$6,720$5,061$3,758$2,756$2,001$948
27 years$6,402$4,763$3,489$2,523$1,804$825
28 years$6,107$4,488$3,244$2,311$1,628$718
29 years$5,833$4,234$3,019$2,120$1,470$625
30 years$5,577$3,998$2,812$1,945$1,328$545
31 years$5,339$3,780$2,621$1,787$1,201$475
32 years$5,116$3,576$2,446$1,642$1,086$414
33 years$4,907$3,387$2,284$1,510$983$361
34 years$4,711$3,210$2,134$1,389$890$315
35 years$4,526$3,045$1,995$1,279$806$274
36 years$4,352$2,890$1,866$1,178$730$239
37 years$4,187$2,745$1,747$1,085$662$209
38 years$4,032$2,608$1,636$1,000$600$182
39 years$3,885$2,480$1,532$922$544$159
40 years$3,746$2,360$1,436$851$494$139
41 years$3,614$2,246$1,347$785$448$121
42 years$3,488$2,139$1,263$724$406$106
43 years$3,369$2,038$1,185$669$369$92
44 years$3,256$1,943$1,113$617$335$81
45 years$3,147$1,853$1,045$570$304$70
46 years$3,044$1,768$981$527$276$61
47 years$2,946$1,687$922$487$251$54
48 years$2,851$1,610$866$450$228$47
49 years$2,761$1,538$814$416$207$41
50 years$2,675$1,469$766$384$188$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,740,000, adding $3,657 every year, while hoping to spend $35,239 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: 36/36/28 Blend
65$2,740,000$2,740,000$2,740,000$2,740,000
66$3,023,252$2,878,032$2,835,562$3,106,559
67$3,294,130$2,981,562$2,893,060$3,272,388
68$3,591,456$3,088,983$2,951,302$3,447,839
69$3,917,891$3,200,450$3,010,277$3,636,581
70$4,276,366$3,316,122$3,069,971$3,839,832
71$4,670,109$3,436,166$3,130,369$4,058,931
72$5,102,677$3,560,755$3,191,453$4,295,351
73$5,577,988$3,690,069$3,253,205$4,550,708
74$6,100,357$3,824,298$3,315,602$4,826,780
75$6,674,541$3,963,636$3,378,622$5,125,520
76$7,305,779$4,108,288$3,442,240$5,449,077
77$7,999,840$4,258,466$3,506,427$5,799,813
78$8,763,086$4,414,393$3,571,155$6,180,325
79$9,602,522$4,576,299$3,636,389$6,593,472
80$10,525,866$4,744,425$3,702,095$7,042,395
81$11,541,624$4,919,021$3,768,235$7,530,554
82$12,659,166$5,100,350$3,834,767$8,061,751
83$13,888,817$5,288,683$3,901,648$8,640,174
84$15,241,952$5,484,304$3,968,829$9,270,429
85$16,731,106$5,687,510$4,036,260$9,957,585
86$18,370,090$5,898,609$4,103,885$10,707,223
87$20,174,120$6,117,922$4,171,647$11,525,484
88$22,159,966$6,345,786$4,239,483$12,419,130
89$24,346,103$6,582,550$4,307,326$13,395,602
90$26,752,889$6,828,578$4,375,105$14,463,095
91$29,402,757$7,084,252$4,442,744$15,630,631
92$32,320,426$7,349,967$4,510,163$16,908,141
93$35,533,132$7,626,138$4,577,276$18,306,564
94$39,070,889$7,913,197$4,643,992$19,837,942
95$42,966,768$8,211,592$4,710,215$21,515,539
96$47,257,213$8,521,794$4,775,841$23,353,959
97$51,982,379$8,844,293$4,840,763$25,369,288
98$57,186,518$9,179,600$4,904,865$27,579,240
99$62,918,390$9,528,248$4,968,025$30,003,326
100$69,231,727$9,890,793$5,030,115$32,663,035