Can I retire at age 66 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$246,911$244,712$242,566$240,472$238,427$235,447
2 years$122,233$119,957$117,751$115,611$113,537$110,539
3 years$80,679$78,393$76,192$74,073$72,032$69,109
4 years$59,907$57,627$55,449$53,366$51,374$48,548
5 years$47,446$45,180$43,030$40,990$39,054$36,333
6 years$39,142$36,893$34,775$32,780$30,902$28,290
7 years$33,213$30,983$28,898$26,950$25,131$22,629
8 years$28,768$26,558$24,508$22,608$20,849$18,456
9 years$25,312$23,124$21,109$19,257$17,558$15,273
10 years$22,550$20,382$18,403$16,600$14,960$12,782
11 years$20,291$18,145$16,202$14,447$12,866$10,793
12 years$18,410$16,286$14,379$12,672$11,150$9,179
13 years$16,819$14,718$12,846$11,187$9,723$7,852
14 years$15,457$13,378$11,542$9,931$8,523$6,750
15 years$14,278$12,221$10,421$8,856$7,504$5,825
16 years$13,247$11,213$9,448$7,930$6,632$5,045
17 years$12,338$10,326$8,598$7,125$5,881$4,381
18 years$11,531$9,542$7,849$6,421$5,229$3,814
19 years$10,810$8,844$7,185$5,802$4,660$3,328
20 years$10,162$8,218$6,594$5,255$4,163$2,909
21 years$9,576$7,655$6,065$4,769$3,725$2,546
22 years$9,045$7,145$5,590$4,336$3,339$2,232
23 years$8,560$6,683$5,161$3,949$2,997$1,959
24 years$8,116$6,261$4,773$3,602$2,694$1,721
25 years$7,709$5,876$4,421$3,289$2,424$1,513
26 years$7,333$5,523$4,100$3,008$2,184$1,331
27 years$6,986$5,197$3,808$2,753$1,969$1,172
28 years$6,664$4,897$3,540$2,522$1,777$1,033
29 years$6,365$4,620$3,294$2,313$1,604$911
30 years$6,086$4,363$3,068$2,123$1,449$803
31 years$5,826$4,125$2,860$1,950$1,310$709
32 years$5,583$3,903$2,669$1,792$1,185$625
33 years$5,355$3,696$2,492$1,648$1,073$552
34 years$5,140$3,503$2,328$1,516$971$488
35 years$4,939$3,323$2,177$1,396$880$431
36 years$4,749$3,154$2,036$1,285$797$381
37 years$4,570$2,995$1,906$1,184$722$336
38 years$4,400$2,846$1,785$1,091$655$297
39 years$4,240$2,707$1,672$1,006$594$263
40 years$4,088$2,575$1,567$928$539$232
41 years$3,944$2,451$1,470$856$489$205
42 years$3,807$2,335$1,379$790$443$182
43 years$3,676$2,224$1,294$730$402$161
44 years$3,553$2,120$1,214$674$365$142
45 years$3,434$2,022$1,140$622$332$126
46 years$3,322$1,929$1,071$575$301$111
47 years$3,214$1,841$1,006$531$273$98
48 years$3,112$1,757$945$491$248$87
49 years$3,013$1,678$889$453$226$77
50 years$2,919$1,603$835$419$205$68

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,990,000, adding $5,257 every year, while hoping to spend $37,787 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: 50/42/8 Blend
65$2,990,000$2,990,000$2,990,000$2,990,000
66$3,300,403$3,141,933$3,095,588$3,458,335
67$3,596,839$3,255,682$3,159,085$3,680,425
68$3,922,245$3,373,739$3,223,443$3,917,153
69$4,279,536$3,496,274$3,288,650$4,173,495
70$4,671,923$3,623,466$3,354,694$4,451,299
71$5,102,944$3,755,501$3,421,561$4,752,595
72$5,576,495$3,892,571$3,489,234$5,079,614
73$6,096,869$4,034,880$3,557,696$5,434,809
74$6,668,797$4,182,635$3,626,925$5,820,876
75$7,297,487$4,336,057$3,696,900$6,240,781
76$7,988,680$4,495,374$3,767,596$6,697,787
77$8,748,702$4,660,823$3,838,986$7,195,479
78$9,584,518$4,832,652$3,911,041$7,737,804
79$10,503,806$5,011,119$3,983,728$8,329,103
80$11,515,024$5,196,494$4,057,013$8,974,152
81$12,627,491$5,389,057$4,130,858$9,678,207
82$13,851,475$5,589,100$4,205,221$10,447,050
83$15,198,288$5,796,929$4,280,059$11,287,047
84$16,680,396$6,012,861$4,355,323$12,205,201
85$18,311,533$6,237,228$4,430,963$13,209,222
86$20,106,833$6,470,376$4,506,924$14,307,598
87$22,082,971$6,712,665$4,583,147$15,509,669
88$24,258,319$6,964,471$4,659,568$16,825,720
89$26,653,125$7,226,187$4,736,120$18,267,075
90$29,289,694$7,498,221$4,812,731$19,846,198
91$32,192,610$7,781,000$4,889,324$21,576,815
92$35,388,956$8,074,970$4,965,817$23,474,042
93$38,908,581$8,380,594$5,042,123$25,554,520
94$42,784,370$8,698,357$5,118,148$27,836,576
95$47,052,564$9,028,765$5,193,794$30,340,394
96$51,753,095$9,372,344$5,268,956$33,088,199
97$56,929,968$9,729,646$5,343,523$36,104,473
98$62,631,670$10,101,245$5,417,377$39,416,174
99$68,911,634$10,487,739$5,490,392$43,052,999
100$75,828,737$10,889,755$5,562,437$47,047,653