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%17.1%
1 years$243,608$241,438$239,321$237,255$235,237$228,439
2 years$120,598$118,352$116,175$114,065$112,018$105,223
3 years$79,600$77,344$75,173$73,082$71,069$64,490
4 years$59,105$56,856$54,707$52,652$50,687$44,375
5 years$46,811$44,576$42,455$40,442$38,531$32,503
6 years$38,618$36,400$34,310$32,341$30,488$24,749
7 years$32,768$30,568$28,512$26,590$24,795$19,345
8 years$28,383$26,203$24,180$22,305$20,570$15,406
9 years$24,974$22,814$20,826$18,999$17,323$12,440
10 years$22,248$20,110$18,157$16,378$14,760$10,151
11 years$20,019$17,902$15,985$14,253$12,694$8,352
12 years$18,163$16,068$14,186$12,502$11,000$6,916
13 years$16,594$14,521$12,674$11,038$9,593$5,758
14 years$15,250$13,199$11,388$9,798$8,409$4,813
15 years$14,087$12,058$10,282$8,738$7,404$4,038
16 years$13,070$11,063$9,322$7,824$6,544$3,397
17 years$12,173$10,188$8,483$7,030$5,802$2,864
18 years$11,377$9,414$7,744$6,335$5,159$2,420
19 years$10,666$8,725$7,089$5,724$4,598$2,048
20 years$10,026$8,108$6,506$5,185$4,107$1,736
21 years$9,448$7,552$5,984$4,705$3,675$1,473
22 years$8,924$7,050$5,515$4,278$3,295$1,251
23 years$8,445$6,593$5,092$3,896$2,957$1,063
24 years$8,008$6,178$4,710$3,554$2,658$904
25 years$7,606$5,797$4,362$3,245$2,392$770
26 years$7,235$5,449$4,046$2,967$2,155$655
27 years$6,892$5,128$3,757$2,716$1,943$558
28 years$6,575$4,832$3,492$2,489$1,753$476
29 years$6,280$4,558$3,250$2,282$1,583$406
30 years$6,005$4,305$3,027$2,094$1,430$346
31 years$5,748$4,070$2,822$1,923$1,293$295
32 years$5,508$3,851$2,633$1,768$1,170$252
33 years$5,283$3,647$2,459$1,626$1,058$215
34 years$5,072$3,456$2,297$1,496$958$183
35 years$4,873$3,278$2,148$1,377$868$156
36 years$4,685$3,111$2,009$1,268$786$133
37 years$4,508$2,955$1,880$1,168$713$114
38 years$4,341$2,808$1,761$1,077$646$97
39 years$4,183$2,671$1,650$993$586$83
40 years$4,033$2,541$1,546$916$531$71
41 years$3,891$2,419$1,450$845$482$60
42 years$3,756$2,303$1,360$780$438$52
43 years$3,627$2,195$1,276$720$397$44
44 years$3,505$2,092$1,198$665$360$38
45 years$3,388$1,995$1,125$614$327$32
46 years$3,277$1,903$1,057$567$297$27
47 years$3,171$1,816$993$524$270$23
48 years$3,070$1,734$933$484$245$20
49 years$2,973$1,656$877$447$223$17
50 years$2,880$1,581$824$414$202$15

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 $6,814 every year, while hoping to spend $23,149 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: 65/25/10 Blend
65$2,950,000$2,950,000$2,950,000$2,950,000
66$3,257,929$3,101,579$3,055,854$3,462,290
67$3,565,607$3,228,926$3,133,594$3,726,704
68$3,903,893$3,361,737$3,213,164$4,012,135
69$4,275,883$3,500,255$3,294,598$4,323,400
70$4,684,991$3,644,736$3,377,935$4,663,015
71$5,134,977$3,795,444$3,463,212$5,033,746
72$5,629,983$3,952,659$3,550,468$5,438,638
73$6,174,573$4,116,672$3,639,741$5,881,041
74$6,773,777$4,287,786$3,731,070$6,364,641
75$7,433,136$4,466,321$3,824,494$6,893,495
76$8,158,755$4,652,611$3,920,054$7,472,068
77$8,957,362$4,847,002$4,017,790$8,105,274
78$9,836,369$5,049,861$4,117,741$8,798,523
79$10,803,942$5,261,568$4,219,950$9,557,769
80$11,869,083$5,482,524$4,324,457$10,389,568
81$13,041,707$5,713,145$4,431,304$11,301,137
82$14,332,741$5,953,869$4,540,532$12,300,421
83$15,754,225$6,205,153$4,652,185$13,396,170
84$17,319,426$6,467,476$4,766,303$14,598,016
85$19,042,964$6,741,338$4,882,930$15,916,567
86$20,940,945$7,027,263$5,002,108$17,363,503
87$23,031,123$7,325,800$5,123,879$18,951,688
88$25,333,056$7,637,522$5,248,288$20,695,288
89$27,868,298$7,963,031$5,375,375$22,609,903
90$30,660,600$8,302,955$5,505,186$24,712,715
91$33,736,133$8,657,952$5,637,762$27,022,649
92$37,123,737$9,028,710$5,773,145$29,560,547
93$40,855,192$9,415,951$5,911,380$32,349,367
94$44,965,518$9,820,429$6,052,507$35,414,395
95$49,493,305$10,242,934$6,196,570$38,783,487
96$54,481,077$10,684,293$6,343,610$42,487,322
97$59,975,695$11,145,371$6,493,669$46,559,699
98$66,028,796$11,627,075$6,646,788$51,037,849
99$72,697,285$12,130,353$6,803,006$55,962,783
100$80,043,866$12,656,198$6,962,365$61,379,683