Can I retire at age 66 with 2,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$244,434$242,257$240,132$238,059$236,035$228,754
2 years$121,007$118,753$116,569$114,451$112,397$105,126
3 years$79,870$77,607$75,428$73,330$71,310$64,275
4 years$59,306$57,049$54,892$52,830$50,859$44,115
5 years$46,970$44,727$42,599$40,579$38,662$32,228
6 years$38,749$36,523$34,426$32,451$30,592$24,473
7 years$32,879$30,672$28,608$26,680$24,879$19,075
8 years$28,479$26,292$24,262$22,381$20,640$15,146
9 years$25,058$22,892$20,897$19,064$17,382$12,193
10 years$22,323$20,178$18,218$16,433$14,810$9,919
11 years$20,087$17,963$16,039$14,302$12,737$8,134
12 years$18,225$16,123$14,234$12,545$11,038$6,714
13 years$16,650$14,570$12,717$11,075$9,625$5,570
14 years$15,302$13,244$11,427$9,831$8,437$4,640
15 years$14,135$12,099$10,317$8,768$7,429$3,879
16 years$13,114$11,100$9,354$7,850$6,566$3,252
17 years$12,214$10,223$8,511$7,054$5,822$2,732
18 years$11,416$9,446$7,770$6,357$5,176$2,300
19 years$10,702$8,755$7,113$5,744$4,614$1,939
20 years$10,060$8,135$6,528$5,202$4,121$1,637
21 years$9,480$7,578$6,004$4,721$3,688$1,384
22 years$8,954$7,074$5,534$4,293$3,306$1,170
23 years$8,474$6,616$5,110$3,909$2,967$991
24 years$8,035$6,199$4,726$3,566$2,667$840
25 years$7,631$5,817$4,377$3,256$2,400$712
26 years$7,260$5,467$4,059$2,977$2,162$604
27 years$6,916$5,145$3,769$2,725$1,949$512
28 years$6,597$4,848$3,504$2,497$1,759$435
29 years$6,301$4,574$3,261$2,290$1,588$369
30 years$6,025$4,319$3,037$2,101$1,435$313
31 years$5,768$4,083$2,832$1,930$1,297$266
32 years$5,527$3,864$2,642$1,774$1,173$226
33 years$5,301$3,659$2,467$1,631$1,062$192
34 years$5,089$3,468$2,305$1,501$962$163
35 years$4,889$3,289$2,155$1,382$871$139
36 years$4,701$3,122$2,016$1,272$789$118
37 years$4,524$2,965$1,887$1,172$715$100
38 years$4,356$2,818$1,767$1,081$648$85
39 years$4,197$2,680$1,655$996$588$72
40 years$4,047$2,549$1,552$919$533$62
41 years$3,904$2,427$1,455$848$484$52
42 years$3,769$2,311$1,365$782$439$44
43 years$3,640$2,202$1,281$722$398$38
44 years$3,517$2,099$1,202$667$362$32
45 years$3,400$2,002$1,129$616$328$27
46 years$3,288$1,909$1,060$569$298$23
47 years$3,182$1,822$996$526$271$20
48 years$3,080$1,740$936$486$246$17
49 years$2,983$1,661$880$449$223$14
50 years$2,890$1,587$827$415$203$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,960,000, adding $3,134 every year, while hoping to spend $55,772 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: 51/36/13 Blend
65$2,960,000$2,960,000$2,960,000$2,960,000
66$3,265,153$3,108,273$3,062,393$3,420,098
67$3,538,857$3,201,237$3,105,642$3,619,474
68$3,838,611$3,296,888$3,148,471$3,829,956
69$4,167,010$3,395,297$3,190,806$4,057,517
70$4,526,918$3,496,539$3,232,571$4,303,784
71$4,921,485$3,600,691$3,273,683$4,570,546
72$5,354,182$3,707,830$3,314,057$4,859,771
73$5,828,831$3,818,036$3,353,600$5,173,626
74$6,349,643$3,931,390$3,392,217$5,514,495
75$6,921,254$4,047,977$3,429,804$5,885,002
76$7,548,775$4,167,880$3,466,255$6,288,036
77$8,237,832$4,291,188$3,501,457$6,726,778
78$8,994,623$4,417,989$3,535,288$7,204,729
79$9,825,979$4,548,374$3,567,624$7,725,745
80$10,739,420$4,682,436$3,598,331$8,294,071
81$11,743,235$4,820,269$3,627,269$8,914,381
82$12,846,553$4,961,971$3,654,291$9,591,824
83$14,059,433$5,107,639$3,679,241$10,332,070
84$15,392,957$5,257,375$3,701,958$11,141,363
85$16,859,334$5,411,282$3,722,268$12,026,580
86$18,472,014$5,569,462$3,739,992$12,995,297
87$20,245,817$5,732,024$3,754,940$14,055,858
88$22,197,073$5,899,076$3,766,913$15,217,454
89$24,343,772$6,070,728$3,775,702$16,490,211
90$26,705,736$6,247,093$3,781,087$17,885,281
91$29,304,806$6,428,285$3,782,838$19,414,953
92$32,165,046$6,614,421$3,780,713$21,092,763
93$35,312,971$6,805,618$3,774,458$22,933,624
94$38,777,798$7,001,998$3,763,806$24,953,966
95$42,591,720$7,203,682$3,748,480$27,171,890
96$46,790,206$7,410,793$3,728,185$29,607,340
97$51,412,344$7,623,459$3,702,615$32,282,290
98$56,501,199$7,841,805$3,671,450$35,220,948
99$62,104,230$8,065,961$3,634,351$38,449,991
100$68,273,726$8,296,058$3,590,967$41,998,810