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%13.5%
1 years$241,957$239,801$237,699$235,646$233,642$230,246
2 years$119,781$117,550$115,388$113,292$111,258$107,843
3 years$79,060$76,820$74,664$72,587$70,587$67,260
4 years$58,704$56,471$54,336$52,295$50,343$47,130
5 years$46,494$44,274$42,167$40,167$38,270$35,180
6 years$38,356$36,153$34,077$32,122$30,282$27,318
7 years$32,546$30,361$28,318$26,409$24,627$21,791
8 years$28,190$26,025$24,016$22,154$20,431$17,721
9 years$24,804$22,660$20,685$18,870$17,206$14,622
10 years$22,097$19,973$18,034$16,267$14,660$12,200
11 years$19,884$17,781$15,877$14,157$12,608$10,269
12 years$18,040$15,959$14,090$12,417$10,926$8,706
13 years$16,482$14,423$12,589$10,963$9,528$7,423
14 years$15,147$13,110$11,311$9,731$8,352$6,360
15 years$13,991$11,976$10,212$8,679$7,354$5,470
16 years$12,981$10,988$9,259$7,771$6,499$4,721
17 years$12,091$10,119$8,425$6,982$5,763$4,085
18 years$11,300$9,351$7,691$6,292$5,124$3,544
19 years$10,593$8,666$7,041$5,686$4,567$3,081
20 years$9,958$8,053$6,462$5,149$4,079$2,683
21 years$9,384$7,501$5,944$4,673$3,651$2,340
22 years$8,863$7,002$5,478$4,249$3,272$2,043
23 years$8,388$6,549$5,058$3,870$2,937$1,786
24 years$7,953$6,136$4,678$3,530$2,640$1,563
25 years$7,554$5,758$4,332$3,223$2,376$1,369
26 years$7,186$5,412$4,018$2,947$2,140$1,200
27 years$6,846$5,093$3,731$2,698$1,929$1,052
28 years$6,530$4,799$3,469$2,472$1,741$923
29 years$6,237$4,527$3,228$2,267$1,572$811
30 years$5,964$4,276$3,007$2,080$1,420$712
31 years$5,709$4,042$2,803$1,910$1,284$626
32 years$5,471$3,824$2,615$1,756$1,162$550
33 years$5,247$3,622$2,442$1,615$1,051$483
34 years$5,037$3,433$2,282$1,486$952$425
35 years$4,840$3,256$2,133$1,368$862$374
36 years$4,654$3,090$1,995$1,259$781$329
37 years$4,478$2,935$1,868$1,160$708$290
38 years$4,312$2,789$1,749$1,070$642$255
39 years$4,155$2,652$1,639$986$582$224
40 years$4,006$2,524$1,536$910$528$197
41 years$3,865$2,402$1,440$839$479$174
42 years$3,730$2,288$1,351$775$435$153
43 years$3,603$2,180$1,268$715$394$135
44 years$3,481$2,078$1,190$660$358$119
45 years$3,366$1,981$1,117$610$325$105
46 years$3,255$1,890$1,049$563$295$92
47 years$3,150$1,804$986$520$268$81
48 years$3,049$1,722$926$481$243$71
49 years$2,953$1,644$871$444$221$63
50 years$2,861$1,571$819$411$201$55

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 $5,962 every year, while hoping to spend $21,059 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: 47/44/9 Blend
65$2,930,000$2,930,000$2,930,000$2,930,000
66$3,235,010$3,079,720$3,034,305$3,378,806
67$3,542,574$3,208,219$3,113,547$3,606,858
68$3,880,804$3,342,310$3,194,739$3,851,535
69$4,252,806$3,482,243$3,277,922$4,116,587
70$4,662,001$3,628,281$3,363,141$4,403,912
71$5,112,159$3,780,701$3,450,440$4,715,594
72$5,607,434$3,939,790$3,539,865$5,053,922
73$6,152,403$4,105,850$3,631,461$5,421,409
74$6,752,108$4,279,197$3,725,276$5,820,819
75$7,412,107$4,460,162$3,821,356$6,255,185
76$8,138,521$4,649,089$3,919,750$6,727,842
77$8,938,096$4,846,340$4,020,508$7,242,457
78$9,818,265$5,052,294$4,123,678$7,803,059
79$10,787,219$5,267,347$4,229,312$8,414,076
80$11,853,982$5,491,914$4,337,461$9,080,380
81$13,028,499$5,726,428$4,448,176$9,807,326
82$14,321,727$5,971,344$4,561,511$10,600,805
83$15,745,740$6,227,137$4,677,519$11,467,294
84$17,313,843$6,494,304$4,796,253$12,413,919
85$19,040,696$6,773,367$4,917,770$13,448,519
86$20,942,456$7,064,870$5,042,123$14,579,719
87$23,036,922$7,369,385$5,169,370$15,817,007
88$25,343,712$7,687,508$5,299,568$17,170,824
89$27,884,440$8,019,866$5,432,773$18,652,661
90$30,682,927$8,367,113$5,569,045$20,275,160
91$33,765,418$8,729,935$5,708,441$22,052,240
92$37,160,838$9,109,049$5,851,021$23,999,218
93$40,901,059$9,505,207$5,996,845$26,132,953
94$45,021,200$9,919,196$6,145,973$28,472,006
95$49,559,966$10,351,840$6,298,466$31,036,808
96$54,560,004$10,804,001$6,454,386$33,849,852
97$60,068,311$11,276,584$6,613,794$36,935,903
98$66,136,675$11,770,533$6,776,753$40,322,226
99$72,822,166$12,286,840$6,943,325$44,038,843
100$80,187,674$12,826,541$7,113,573$48,118,813