Can I retire at age 66 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$238,653$236,528$234,454$232,429$230,453$224,064
2 years$118,145$115,945$113,812$111,745$109,739$103,351
3 years$77,981$75,771$73,644$71,596$69,623$63,434
4 years$57,903$55,700$53,594$51,581$49,656$43,714
5 years$45,859$43,669$41,591$39,619$37,748$32,070
6 years$37,833$35,659$33,612$31,684$29,868$24,460
7 years$32,102$29,947$27,932$26,049$24,291$19,152
8 years$27,805$25,670$23,688$21,852$20,152$15,279
9 years$24,466$22,350$20,403$18,613$16,971$12,360
10 years$21,795$19,701$17,788$16,044$14,460$10,105
11 years$19,612$17,538$15,660$13,964$12,436$8,330
12 years$17,794$15,741$13,898$12,248$10,777$6,912
13 years$16,257$14,226$12,417$10,813$9,398$5,765
14 years$14,940$12,931$11,156$9,599$8,238$4,830
15 years$13,800$11,812$10,073$8,560$7,253$4,060
16 years$12,804$10,838$9,132$7,665$6,410$3,423
17 years$11,925$9,981$8,310$6,887$5,684$2,893
18 years$11,146$9,223$7,586$6,206$5,054$2,450
19 years$10,449$8,548$6,945$5,608$4,505$2,078
20 years$9,822$7,943$6,374$5,079$4,024$1,765
21 years$9,256$7,399$5,862$4,610$3,601$1,501
22 years$8,742$6,906$5,403$4,191$3,228$1,278
23 years$8,274$6,459$4,989$3,817$2,897$1,089
24 years$7,845$6,052$4,614$3,481$2,604$928
25 years$7,451$5,679$4,273$3,179$2,343$792
26 years$7,088$5,338$3,963$2,907$2,111$676
27 years$6,752$5,024$3,680$2,661$1,903$577
28 years$6,441$4,734$3,421$2,438$1,717$493
29 years$6,152$4,466$3,184$2,236$1,551$421
30 years$5,883$4,217$2,966$2,052$1,401$360
31 years$5,631$3,987$2,765$1,884$1,267$308
32 years$5,396$3,772$2,580$1,732$1,146$263
33 years$5,176$3,572$2,409$1,593$1,037$225
34 years$4,968$3,386$2,250$1,465$939$193
35 years$4,774$3,211$2,104$1,349$850$165
36 years$4,590$3,048$1,968$1,242$770$141
37 years$4,417$2,895$1,842$1,145$698$121
38 years$4,253$2,751$1,725$1,055$633$103
39 years$4,098$2,616$1,616$973$574$88
40 years$3,951$2,489$1,515$897$521$76
41 years$3,812$2,369$1,421$828$472$65
42 years$3,679$2,257$1,332$764$429$55
43 years$3,554$2,150$1,250$705$389$47
44 years$3,434$2,049$1,174$651$353$41
45 years$3,320$1,954$1,102$601$321$35
46 years$3,211$1,864$1,035$555$291$30
47 years$3,107$1,779$972$513$264$25
48 years$3,007$1,698$914$474$240$22
49 years$2,913$1,622$859$438$218$19
50 years$2,822$1,549$808$405$198$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,890,000, adding $3,957 every year, while hoping to spend $38,515 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: 47/27/26 Blend
65$2,890,000$2,890,000$2,890,000$2,890,000
66$3,188,862$3,035,692$2,990,897$3,314,837
67$3,473,146$3,143,461$3,050,112$3,511,663
68$3,785,136$3,255,220$3,110,020$3,721,097
69$4,127,618$3,371,124$3,170,604$3,947,682
70$4,503,660$3,491,333$3,231,844$4,193,047
71$4,916,641$3,616,016$3,293,718$4,458,986
72$5,370,284$3,745,348$3,356,204$4,747,470
73$5,868,692$3,879,509$3,419,276$5,060,667
74$6,416,383$4,018,689$3,482,906$5,400,964
75$7,018,335$4,163,085$3,547,064$5,770,988
76$7,680,031$4,312,902$3,611,716$6,173,628
77$8,407,513$4,468,353$3,676,828$6,612,065
78$9,207,439$4,629,662$3,742,361$7,089,798
79$10,087,141$4,797,059$3,808,274$7,610,681
80$11,054,700$4,970,785$3,874,521$8,178,955
81$12,119,018$5,151,093$3,941,057$8,799,290
82$13,289,904$5,338,242$4,007,828$9,476,827
83$14,578,165$5,532,507$4,074,781$10,217,225
84$15,995,708$5,734,170$4,141,856$11,026,716
85$17,555,654$5,943,527$4,208,992$11,912,163
86$19,272,458$6,160,888$4,276,120$12,881,123
87$21,162,049$6,386,571$4,343,171$13,941,918
88$23,241,978$6,620,913$4,410,067$15,103,713
89$25,531,584$6,864,262$4,476,728$16,376,601
90$28,052,175$7,116,981$4,543,069$17,771,699
91$30,827,233$7,379,450$4,608,998$19,301,251
92$33,882,630$7,652,061$4,674,418$20,978,743
93$37,246,874$7,935,228$4,739,226$22,819,032
94$40,951,379$8,229,379$4,803,315$24,838,479
95$45,030,762$8,534,960$4,866,568$27,055,110
96$49,523,166$8,852,439$4,928,864$29,488,779
97$54,470,622$9,182,302$4,990,074$32,161,361
98$59,919,445$9,525,054$5,050,061$35,096,950
99$65,920,672$9,881,226$5,108,682$38,322,092
100$72,530,541$10,251,367$5,165,784$41,866,030