Can I retire at age 66 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$242,782$240,620$238,510$236,451$234,440$226,032
2 years$120,189$117,951$115,782$113,678$111,638$103,258
3 years$79,330$77,082$74,918$72,835$70,828$62,739
4 years$58,905$56,664$54,521$52,473$50,515$42,780
5 years$46,653$44,425$42,311$40,305$38,401$31,039
6 years$38,487$36,276$34,193$32,232$30,385$23,402
7 years$32,657$30,465$28,415$26,500$24,711$18,106
8 years$28,287$26,114$24,098$22,230$20,500$14,266
9 years$24,889$22,737$20,756$18,935$17,264$11,394
10 years$22,172$20,041$18,095$16,322$14,710$9,193
11 years$19,951$17,842$15,931$14,205$12,651$7,476
12 years$18,102$16,014$14,138$12,460$10,963$6,117
13 years$16,538$14,472$12,632$11,000$9,560$5,031
14 years$15,199$13,154$11,349$9,765$8,380$4,153
15 years$14,039$12,017$10,247$8,708$7,379$3,440
16 years$13,025$11,025$9,290$7,797$6,521$2,856
17 years$12,132$10,154$8,454$7,006$5,782$2,377
18 years$11,338$9,383$7,717$6,314$5,141$1,982
19 years$10,629$8,696$7,065$5,705$4,583$1,655
20 years$9,992$8,080$6,484$5,167$4,093$1,383
21 years$9,416$7,527$5,964$4,689$3,663$1,157
22 years$8,893$7,026$5,497$4,264$3,283$969
23 years$8,417$6,571$5,075$3,883$2,947$812
24 years$7,981$6,157$4,694$3,542$2,649$681
25 years$7,580$5,778$4,347$3,234$2,384$571
26 years$7,210$5,430$4,032$2,957$2,147$479
27 years$6,869$5,110$3,744$2,707$1,936$403
28 years$6,553$4,816$3,480$2,480$1,747$338
29 years$6,259$4,543$3,239$2,274$1,577$284
30 years$5,985$4,290$3,017$2,087$1,425$239
31 years$5,729$4,056$2,813$1,917$1,289$200
32 years$5,489$3,838$2,624$1,762$1,166$168
33 years$5,265$3,634$2,450$1,620$1,055$142
34 years$5,054$3,444$2,289$1,491$955$119
35 years$4,856$3,267$2,140$1,372$865$100
36 years$4,669$3,101$2,002$1,264$784$84
37 years$4,493$2,945$1,874$1,164$710$71
38 years$4,327$2,799$1,755$1,073$644$59
39 years$4,169$2,661$1,644$990$584$50
40 years$4,019$2,532$1,541$913$530$42
41 years$3,878$2,410$1,445$842$481$35
42 years$3,743$2,296$1,356$777$436$30
43 years$3,615$2,187$1,272$717$396$25
44 years$3,493$2,085$1,194$662$359$21
45 years$3,377$1,988$1,121$612$326$18
46 years$3,266$1,897$1,053$565$296$15
47 years$3,161$1,810$989$522$269$13
48 years$3,060$1,728$930$482$244$11
49 years$2,963$1,650$874$446$222$9
50 years$2,870$1,576$821$412$201$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,940,000, adding $4,242 every year, while hoping to spend $24,675 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: 78/13/9 Blend
65$2,940,000$2,940,000$2,940,000$2,940,000
66$3,244,256$3,088,436$3,042,866$3,492,445
67$3,548,916$3,213,515$3,118,548$3,781,140
68$3,883,824$3,343,896$3,195,938$4,094,066
69$4,252,040$3,479,813$3,275,068$4,436,541
70$4,656,934$3,621,510$3,355,969$4,811,498
71$5,102,220$3,769,242$3,438,672$5,222,167
72$5,591,988$3,923,277$3,523,210$5,672,105
73$6,130,748$4,083,894$3,609,614$6,165,227
74$6,723,464$4,251,385$3,697,916$6,705,845
75$7,375,610$4,426,056$3,788,149$7,298,708
76$8,093,215$4,608,226$3,880,345$7,949,045
77$8,882,923$4,798,228$3,974,536$8,662,615
78$9,752,053$4,996,413$4,070,755$9,445,761
79$10,708,671$5,203,146$4,169,034$10,305,469
80$11,761,664$5,418,809$4,269,405$11,249,433
81$12,920,825$5,643,802$4,371,901$12,286,127
82$14,196,944$5,878,543$4,476,554$13,424,887
83$15,601,910$6,123,469$4,583,396$14,675,995
84$17,148,823$6,379,038$4,692,459$16,050,778
85$18,852,122$6,645,729$4,803,775$17,561,712
86$20,727,711$6,924,042$4,917,374$19,222,542
87$22,793,119$7,214,502$5,033,288$21,048,409
88$25,067,662$7,517,657$5,151,547$23,055,992
89$27,572,621$7,834,080$5,272,182$25,263,668
90$30,331,450$8,164,372$5,395,222$27,691,679
91$33,369,992$8,509,161$5,520,696$30,362,328
92$36,716,725$8,869,103$5,648,633$33,300,185
93$40,403,028$9,244,886$5,779,059$36,532,321
94$44,463,482$9,637,231$5,912,003$40,088,560
95$48,936,192$10,046,890$6,047,490$44,001,760
96$53,863,147$10,474,651$6,185,545$48,308,124
97$59,290,619$10,921,340$6,326,191$53,047,539
98$65,269,596$11,387,820$6,469,453$58,263,955
99$71,856,266$11,874,994$6,615,350$64,005,792
100$79,112,545$12,383,808$6,763,904$70,326,402