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%17.8%
1 years$234,525$232,436$230,397$228,408$226,466$219,304
2 years$116,101$113,939$111,843$109,812$107,841$100,691
3 years$76,632$74,460$72,370$70,357$68,419$61,504
4 years$56,901$54,736$52,667$50,689$48,797$42,171
5 years$45,066$42,914$40,872$38,934$37,094$30,775
6 years$37,178$35,042$33,030$31,136$29,352$23,344
7 years$31,546$29,429$27,448$25,598$23,871$18,174
8 years$27,324$25,226$23,278$21,474$19,803$14,414
9 years$24,042$21,964$20,050$18,291$16,677$11,589
10 years$21,418$19,360$17,480$15,767$14,210$9,416
11 years$19,273$17,235$15,389$13,722$12,221$7,712
12 years$17,486$15,469$13,657$12,036$10,590$6,357
13 years$15,975$13,980$12,202$10,626$9,235$5,267
14 years$14,682$12,707$10,963$9,433$8,095$4,382
15 years$13,561$11,608$9,899$8,412$7,128$3,657
16 years$12,582$10,650$8,974$7,532$6,300$3,061
17 years$11,719$9,808$8,166$6,768$5,586$2,568
18 years$10,953$9,063$7,455$6,099$4,966$2,159
19 years$10,268$8,400$6,825$5,511$4,427$1,817
20 years$9,652$7,806$6,263$4,991$3,954$1,532
21 years$9,096$7,271$5,761$4,530$3,538$1,293
22 years$8,591$6,787$5,310$4,119$3,172$1,092
23 years$8,131$6,348$4,903$3,751$2,847$923
24 years$7,709$5,947$4,534$3,421$2,559$781
25 years$7,322$5,581$4,199$3,124$2,303$661
26 years$6,965$5,245$3,895$2,857$2,074$560
27 years$6,635$4,937$3,617$2,615$1,870$474
28 years$6,330$4,652$3,362$2,396$1,687$402
29 years$6,046$4,388$3,129$2,197$1,524$340
30 years$5,781$4,144$2,914$2,016$1,377$289
31 years$5,534$3,918$2,717$1,852$1,245$245
32 years$5,303$3,707$2,535$1,702$1,126$208
33 years$5,086$3,511$2,367$1,565$1,019$176
34 years$4,882$3,327$2,211$1,440$923$149
35 years$4,691$3,156$2,068$1,326$836$127
36 years$4,511$2,995$1,934$1,221$757$108
37 years$4,340$2,845$1,810$1,125$686$91
38 years$4,179$2,704$1,695$1,037$622$77
39 years$4,027$2,571$1,588$956$564$66
40 years$3,883$2,446$1,489$882$512$56
41 years$3,746$2,328$1,396$813$464$47
42 years$3,616$2,217$1,309$751$421$40
43 years$3,492$2,113$1,229$693$382$34
44 years$3,374$2,014$1,153$640$347$29
45 years$3,262$1,920$1,083$591$315$25
46 years$3,155$1,832$1,017$546$286$21
47 years$3,053$1,748$956$504$260$18
48 years$2,955$1,669$898$466$236$15
49 years$2,862$1,594$844$431$214$13
50 years$2,773$1,522$794$398$195$11

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 $6,207 every year, while hoping to spend $50,755 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: 42/50/8 Blend
65$2,840,000$2,840,000$2,840,000$2,840,000
66$3,136,083$2,985,563$2,941,543$3,260,190
67$3,401,960$3,077,852$2,986,081$3,439,567
68$3,693,256$3,172,963$3,030,411$3,628,060
69$4,012,509$3,270,979$3,074,471$3,830,999
70$4,362,517$3,371,989$3,118,197$4,049,718
71$4,746,358$3,476,081$3,161,521$4,285,684
72$5,167,425$3,583,347$3,204,371$4,540,509
73$5,629,454$3,693,883$3,246,669$4,815,968
74$6,136,562$3,807,787$3,288,336$5,114,008
75$6,693,281$3,925,158$3,329,285$5,436,775
76$7,304,605$4,046,100$3,369,425$5,786,626
77$7,976,035$4,170,720$3,408,662$6,166,155
78$8,713,632$4,299,126$3,446,893$6,578,217
79$9,524,071$4,431,432$3,484,012$7,025,951
80$10,414,706$4,567,752$3,519,907$7,512,814
81$11,393,641$4,708,206$3,554,458$8,042,607
82$12,469,801$4,852,917$3,587,541$8,619,517
83$13,653,020$5,002,010$3,619,024$9,248,150
84$14,954,134$5,155,614$3,648,767$9,933,577
85$16,385,079$5,313,863$3,676,624$10,681,382
86$17,959,008$5,476,892$3,702,441$11,497,712
87$19,690,411$5,644,844$3,726,057$12,389,332
88$21,595,254$5,817,863$3,747,301$13,363,696
89$23,691,128$5,996,097$3,765,994$14,429,008
90$25,997,416$6,179,698$3,781,948$15,594,304
91$28,535,474$6,368,825$3,794,965$16,869,535
92$31,328,833$6,563,638$3,804,837$18,265,659
93$34,403,421$6,764,303$3,811,345$19,794,747
94$37,787,806$6,970,990$3,814,262$21,470,092
95$41,513,469$7,183,876$3,813,347$23,306,336
96$45,615,096$7,403,138$3,808,347$25,319,606
97$50,130,907$7,628,964$3,798,998$27,527,669
98$55,103,018$7,861,541$3,785,022$29,950,094
99$60,577,835$8,101,065$3,766,130$32,608,439
100$66,606,493$8,347,737$3,742,015$35,526,450