Can I retire at age 66 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$243,608$241,438$239,321$237,255$235,237$226,530
2 years$120,598$118,352$116,175$114,065$112,018$103,344
3 years$79,600$77,344$75,173$73,082$71,069$62,701
4 years$59,105$56,856$54,707$52,652$50,687$42,689
5 years$46,811$44,576$42,455$40,442$38,531$30,924
6 years$38,618$36,400$34,310$32,341$30,488$23,277
7 years$32,768$30,568$28,512$26,590$24,795$17,978
8 years$28,383$26,203$24,180$22,305$20,570$14,141
9 years$24,974$22,814$20,826$18,999$17,323$11,273
10 years$22,248$20,110$18,157$16,378$14,760$9,078
11 years$20,019$17,902$15,985$14,253$12,694$7,368
12 years$18,163$16,068$14,186$12,502$11,000$6,017
13 years$16,594$14,521$12,674$11,038$9,593$4,938
14 years$15,250$13,199$11,388$9,798$8,409$4,068
15 years$14,087$12,058$10,282$8,738$7,404$3,362
16 years$13,070$11,063$9,322$7,824$6,544$2,786
17 years$12,173$10,188$8,483$7,030$5,802$2,313
18 years$11,377$9,414$7,744$6,335$5,159$1,924
19 years$10,666$8,725$7,089$5,724$4,598$1,603
20 years$10,026$8,108$6,506$5,185$4,107$1,337
21 years$9,448$7,552$5,984$4,705$3,675$1,116
22 years$8,924$7,050$5,515$4,278$3,295$932
23 years$8,445$6,593$5,092$3,896$2,957$779
24 years$8,008$6,178$4,710$3,554$2,658$652
25 years$7,606$5,797$4,362$3,245$2,392$546
26 years$7,235$5,449$4,046$2,967$2,155$457
27 years$6,892$5,128$3,757$2,716$1,943$383
28 years$6,575$4,832$3,492$2,489$1,753$321
29 years$6,280$4,558$3,250$2,282$1,583$269
30 years$6,005$4,305$3,027$2,094$1,430$225
31 years$5,748$4,070$2,822$1,923$1,293$189
32 years$5,508$3,851$2,633$1,768$1,170$158
33 years$5,283$3,647$2,459$1,626$1,058$133
34 years$5,072$3,456$2,297$1,496$958$111
35 years$4,873$3,278$2,148$1,377$868$93
36 years$4,685$3,111$2,009$1,268$786$78
37 years$4,508$2,955$1,880$1,168$713$66
38 years$4,341$2,808$1,761$1,077$646$55
39 years$4,183$2,671$1,650$993$586$46
40 years$4,033$2,541$1,546$916$531$39
41 years$3,891$2,419$1,450$845$482$32
42 years$3,756$2,303$1,360$780$438$27
43 years$3,627$2,195$1,276$720$397$23
44 years$3,505$2,092$1,198$665$360$19
45 years$3,388$1,995$1,125$614$327$16
46 years$3,277$1,903$1,057$567$297$13
47 years$3,171$1,816$993$524$270$11
48 years$3,070$1,734$933$484$245$9
49 years$2,973$1,656$877$447$223$8
50 years$2,880$1,581$824$414$202$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,950,000, adding $4,872 every year, while hoping to spend $24,116 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: 59/26/15 Blend
65$2,950,000$2,950,000$2,950,000$2,950,000
66$3,255,925$3,099,575$3,053,850$3,435,347
67$3,562,371$3,225,795$3,130,495$3,683,291
68$3,899,265$3,357,392$3,208,899$3,950,442
69$4,269,689$3,494,603$3,289,096$4,241,204
70$4,677,036$3,637,677$3,371,120$4,557,858
71$5,125,045$3,786,875$3,455,004$4,902,910
72$5,617,836$3,942,469$3,540,783$5,279,119
73$6,159,949$4,104,742$3,628,492$5,689,519
74$6,756,383$4,273,994$3,718,166$6,137,448
75$7,412,649$4,450,535$3,809,840$6,626,578
76$8,134,818$4,634,690$3,903,548$7,160,953
77$8,929,580$4,826,801$3,999,328$7,745,019
78$9,804,306$5,027,222$4,097,214$8,383,672
79$10,767,116$5,236,328$4,197,242$9,082,299
80$11,826,961$5,454,507$4,299,449$9,846,831
81$12,993,700$5,682,167$4,403,869$10,683,796
82$14,278,199$5,919,735$4,510,541$11,600,379
83$15,692,430$6,167,656$4,619,498$12,604,493
84$17,249,585$6,426,398$4,730,778$13,704,848
85$18,964,200$6,696,449$4,844,417$14,911,034
86$20,852,293$6,978,320$4,960,450$16,233,610
87$22,931,515$7,272,546$5,078,913$17,684,204
88$25,221,315$7,579,685$5,199,841$19,275,619
89$27,743,124$7,900,325$5,323,271$21,021,956
90$30,520,558$8,235,076$5,449,236$22,938,740
91$33,579,641$8,584,581$5,577,771$25,043,074
92$36,949,049$8,949,510$5,708,911$27,353,789
93$40,660,382$9,330,566$5,842,690$29,891,628
94$44,748,460$9,728,483$5,979,139$32,679,437
95$49,251,655$10,144,030$6,118,292$35,742,378
96$54,212,249$10,578,014$6,260,181$39,108,169
97$59,676,838$11,031,276$6,404,836$42,807,337
98$65,696,765$11,504,698$6,552,287$46,873,513
99$72,328,610$11,999,203$6,702,565$51,343,739
100$79,634,724$12,515,759$6,855,696$56,258,823