Can I retire at age 66 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$234,525$232,436$230,397$228,408$226,466$224,287
2 years$116,101$113,939$111,843$109,812$107,841$105,646
3 years$76,632$74,460$72,370$70,357$68,419$66,276
4 years$56,901$54,736$52,667$50,689$48,797$46,723
5 years$45,066$42,914$40,872$38,934$37,094$35,095
6 years$37,178$35,042$33,030$31,136$29,352$27,429
7 years$31,546$29,429$27,448$25,598$23,871$22,026
8 years$27,324$25,226$23,278$21,474$19,803$18,037
9 years$24,042$21,964$20,050$18,291$16,677$14,988
10 years$21,418$19,360$17,480$15,767$14,210$12,597
11 years$19,273$17,235$15,389$13,722$12,221$10,683
12 years$17,486$15,469$13,657$12,036$10,590$9,126
13 years$15,975$13,980$12,202$10,626$9,235$7,842
14 years$14,682$12,707$10,963$9,433$8,095$6,772
15 years$13,561$11,608$9,899$8,412$7,128$5,873
16 years$12,582$10,650$8,974$7,532$6,300$5,110
17 years$11,719$9,808$8,166$6,768$5,586$4,460
18 years$10,953$9,063$7,455$6,099$4,966$3,902
19 years$10,268$8,400$6,825$5,511$4,427$3,422
20 years$9,652$7,806$6,263$4,991$3,954$3,006
21 years$9,096$7,271$5,761$4,530$3,538$2,645
22 years$8,591$6,787$5,310$4,119$3,172$2,331
23 years$8,131$6,348$4,903$3,751$2,847$2,057
24 years$7,709$5,947$4,534$3,421$2,559$1,817
25 years$7,322$5,581$4,199$3,124$2,303$1,606
26 years$6,965$5,245$3,895$2,857$2,074$1,421
27 years$6,635$4,937$3,617$2,615$1,870$1,258
28 years$6,330$4,652$3,362$2,396$1,687$1,115
29 years$6,046$4,388$3,129$2,197$1,524$989
30 years$5,781$4,144$2,914$2,016$1,377$877
31 years$5,534$3,918$2,717$1,852$1,245$778
32 years$5,303$3,707$2,535$1,702$1,126$691
33 years$5,086$3,511$2,367$1,565$1,019$613
34 years$4,882$3,327$2,211$1,440$923$545
35 years$4,691$3,156$2,068$1,326$836$484
36 years$4,511$2,995$1,934$1,221$757$430
37 years$4,340$2,845$1,810$1,125$686$383
38 years$4,179$2,704$1,695$1,037$622$340
39 years$4,027$2,571$1,588$956$564$302
40 years$3,883$2,446$1,489$882$512$269
41 years$3,746$2,328$1,396$813$464$239
42 years$3,616$2,217$1,309$751$421$213
43 years$3,492$2,113$1,229$693$382$189
44 years$3,374$2,014$1,153$640$347$169
45 years$3,262$1,920$1,083$591$315$150
46 years$3,155$1,832$1,017$546$286$133
47 years$3,053$1,748$956$504$260$119
48 years$2,955$1,669$898$466$236$106
49 years$2,862$1,594$844$431$214$94
50 years$2,773$1,522$794$398$195$84

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,840,000, adding $3,640 every year, while hoping to spend $41,754 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: 64/18/18 Blend
65$2,840,000$2,840,000$2,840,000$2,840,000
66$3,133,435$2,982,915$2,938,895$3,319,604
67$3,408,619$3,084,652$2,992,922$3,546,808
68$3,710,473$3,189,974$3,047,359$3,789,825
69$4,041,672$3,299,014$3,102,177$4,054,316
70$4,405,165$3,411,908$3,157,342$4,342,379
71$4,804,198$3,528,798$3,212,819$4,656,323
72$5,242,348$3,649,831$3,268,571$4,998,694
73$5,723,556$3,775,160$3,324,556$5,372,290
74$6,252,161$3,904,946$3,380,731$5,780,196
75$6,832,945$4,039,351$3,437,049$6,225,806
76$7,471,175$4,178,550$3,493,460$6,712,859
77$8,172,655$4,322,719$3,549,911$7,245,470
78$8,943,778$4,472,044$3,606,345$7,828,174
79$9,791,586$4,626,717$3,662,701$8,465,964
80$10,723,841$4,786,939$3,718,914$9,164,338
81$11,749,092$4,952,918$3,774,916$9,929,353
82$12,876,758$5,124,870$3,830,635$10,767,679
83$14,117,217$5,303,018$3,885,991$11,686,665
84$15,481,904$5,487,597$3,940,903$12,694,403
85$16,983,419$5,678,850$3,995,284$13,799,810
86$18,635,643$5,877,029$4,049,041$15,012,707
87$20,453,870$6,082,395$4,102,076$16,343,912
88$22,454,955$6,295,223$4,154,285$17,805,344
89$24,657,467$6,515,795$4,205,560$19,410,134
90$27,081,865$6,744,406$4,255,783$21,172,745
91$29,750,697$6,981,363$4,304,833$23,109,114
92$32,688,804$7,226,985$4,352,581$25,236,799
93$35,923,559$7,481,605$4,398,889$27,575,143
94$39,485,124$7,745,566$4,443,614$30,145,456
95$43,406,736$8,019,228$4,486,605$32,971,220
96$47,725,018$8,302,965$4,527,701$36,078,305
97$52,480,324$8,597,165$4,566,733$39,495,216
98$57,717,124$8,902,232$4,603,525$43,253,357
99$63,484,417$9,218,587$4,637,889$47,387,333
100$69,836,198$9,546,669$4,669,629$51,935,273