Can I retire at age 66 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$241,957$239,801$237,699$235,646$233,642$231,975
2 years$119,781$117,550$115,388$113,292$111,258$109,577
3 years$79,060$76,820$74,664$72,587$70,587$68,944
4 years$58,704$56,471$54,336$52,295$50,343$48,751
5 years$46,494$44,274$42,167$40,167$38,270$36,734
6 years$38,356$36,153$34,077$32,122$30,282$28,803
7 years$32,546$30,361$28,318$26,409$24,627$23,206
8 years$28,190$26,025$24,016$22,154$20,431$19,068
9 years$24,804$22,660$20,685$18,870$17,206$15,900
10 years$22,097$19,973$18,034$16,267$14,660$13,412
11 years$19,884$17,781$15,877$14,157$12,608$11,416
12 years$18,040$15,959$14,090$12,417$10,926$9,789
13 years$16,482$14,423$12,589$10,963$9,528$8,445
14 years$15,147$13,110$11,311$9,731$8,352$7,322
15 years$13,991$11,976$10,212$8,679$7,354$6,375
16 years$12,981$10,988$9,259$7,771$6,499$5,570
17 years$12,091$10,119$8,425$6,982$5,763$4,881
18 years$11,300$9,351$7,691$6,292$5,124$4,289
19 years$10,593$8,666$7,041$5,686$4,567$3,778
20 years$9,958$8,053$6,462$5,149$4,079$3,333
21 years$9,384$7,501$5,944$4,673$3,651$2,946
22 years$8,863$7,002$5,478$4,249$3,272$2,608
23 years$8,388$6,549$5,058$3,870$2,937$2,312
24 years$7,953$6,136$4,678$3,530$2,640$2,051
25 years$7,554$5,758$4,332$3,223$2,376$1,822
26 years$7,186$5,412$4,018$2,947$2,140$1,620
27 years$6,846$5,093$3,731$2,698$1,929$1,441
28 years$6,530$4,799$3,469$2,472$1,741$1,283
29 years$6,237$4,527$3,228$2,267$1,572$1,143
30 years$5,964$4,276$3,007$2,080$1,420$1,019
31 years$5,709$4,042$2,803$1,910$1,284$908
32 years$5,471$3,824$2,615$1,756$1,162$810
33 years$5,247$3,622$2,442$1,615$1,051$723
34 years$5,037$3,433$2,282$1,486$952$646
35 years$4,840$3,256$2,133$1,368$862$577
36 years$4,654$3,090$1,995$1,259$781$515
37 years$4,478$2,935$1,868$1,160$708$460
38 years$4,312$2,789$1,749$1,070$642$411
39 years$4,155$2,652$1,639$986$582$368
40 years$4,006$2,524$1,536$910$528$329
41 years$3,865$2,402$1,440$839$479$294
42 years$3,730$2,288$1,351$775$435$263
43 years$3,603$2,180$1,268$715$394$235
44 years$3,481$2,078$1,190$660$358$210
45 years$3,366$1,981$1,117$610$325$188
46 years$3,255$1,890$1,049$563$295$168
47 years$3,150$1,804$986$520$268$150
48 years$3,049$1,722$926$481$243$135
49 years$2,953$1,644$871$444$221$120
50 years$2,861$1,571$819$411$201$108

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,930,000, adding $6,650 every year, while hoping to spend $25,257 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: 38/35/27 Blend
65$2,930,000$2,930,000$2,930,000$2,930,000
66$3,235,719$3,080,429$3,035,014$3,332,430
67$3,538,890$3,204,497$3,109,814$3,528,000
68$3,872,137$3,333,798$3,186,273$3,736,414
69$4,238,502$3,468,561$3,264,420$3,961,175
70$4,641,335$3,609,027$3,344,285$4,203,781
71$5,084,329$3,755,447$3,425,896$4,465,881
72$5,571,549$3,908,082$3,509,282$4,749,280
73$6,107,478$4,067,209$3,594,474$5,055,966
74$6,697,051$4,233,113$3,681,500$5,388,118
75$7,345,710$4,406,095$3,770,389$5,748,132
76$8,059,446$4,586,468$3,861,171$6,138,644
77$8,844,865$4,774,560$3,953,876$6,562,545
78$9,709,242$4,970,714$4,048,531$7,023,018
79$10,660,595$5,175,289$4,145,167$7,523,559
80$11,707,758$5,388,661$4,243,812$8,068,014
81$12,860,464$5,611,220$4,344,495$8,660,612
82$14,129,440$5,843,378$4,447,244$9,306,001
83$15,526,503$6,085,564$4,552,087$10,009,298
84$17,064,677$6,338,227$4,659,052$10,776,127
85$18,758,310$6,601,836$4,768,167$11,612,677
86$20,623,214$6,876,882$4,879,457$12,525,759
87$22,676,812$7,163,880$4,992,949$13,522,864
88$24,938,303$7,463,367$5,108,669$14,612,236
89$27,428,843$7,775,905$5,226,642$15,802,948
90$30,171,743$8,102,082$5,346,893$17,104,985
91$33,192,692$8,442,515$5,469,445$18,529,336
92$36,519,995$8,797,846$5,594,320$20,088,099
93$40,184,845$9,168,751$5,721,540$21,794,589
94$44,221,614$9,555,935$5,851,126$23,663,465
95$48,668,177$9,960,135$5,983,098$25,710,863
96$53,566,273$10,382,123$6,117,473$27,954,550
97$58,961,893$10,822,708$6,254,269$30,414,088
98$64,905,721$11,282,735$6,393,502$33,111,016
99$71,453,605$11,763,089$6,535,184$36,069,049
100$78,667,089$12,264,697$6,679,330$39,314,305