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

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$246,911$244,712$242,566$240,472$238,427$237,322
2 years$122,233$119,957$117,751$115,611$113,537$112,422
3 years$80,679$78,393$76,192$74,073$72,032$70,942
4 years$59,907$57,627$55,449$53,366$51,374$50,316
5 years$47,446$45,180$43,030$40,990$39,054$38,031
6 years$39,142$36,893$34,775$32,780$30,902$29,916
7 years$33,213$30,983$28,898$26,950$25,131$24,183
8 years$28,768$26,558$24,508$22,608$20,849$19,939
9 years$25,312$23,124$21,109$19,257$17,558$16,685
10 years$22,550$20,382$18,403$16,600$14,960$14,124
11 years$20,291$18,145$16,202$14,447$12,866$12,067
12 years$18,410$16,286$14,379$12,672$11,150$10,386
13 years$16,819$14,718$12,846$11,187$9,723$8,994
14 years$15,457$13,378$11,542$9,931$8,523$7,828
15 years$14,278$12,221$10,421$8,856$7,504$6,843
16 years$13,247$11,213$9,448$7,930$6,632$6,003
17 years$12,338$10,326$8,598$7,125$5,881$5,283
18 years$11,531$9,542$7,849$6,421$5,229$4,662
19 years$10,810$8,844$7,185$5,802$4,660$4,123
20 years$10,162$8,218$6,594$5,255$4,163$3,654
21 years$9,576$7,655$6,065$4,769$3,725$3,244
22 years$9,045$7,145$5,590$4,336$3,339$2,885
23 years$8,560$6,683$5,161$3,949$2,997$2,568
24 years$8,116$6,261$4,773$3,602$2,694$2,289
25 years$7,709$5,876$4,421$3,289$2,424$2,043
26 years$7,333$5,523$4,100$3,008$2,184$1,825
27 years$6,986$5,197$3,808$2,753$1,969$1,631
28 years$6,664$4,897$3,540$2,522$1,777$1,459
29 years$6,365$4,620$3,294$2,313$1,604$1,306
30 years$6,086$4,363$3,068$2,123$1,449$1,170
31 years$5,826$4,125$2,860$1,950$1,310$1,048
32 years$5,583$3,903$2,669$1,792$1,185$940
33 years$5,355$3,696$2,492$1,648$1,073$843
34 years$5,140$3,503$2,328$1,516$971$756
35 years$4,939$3,323$2,177$1,396$880$679
36 years$4,749$3,154$2,036$1,285$797$609
37 years$4,570$2,995$1,906$1,184$722$547
38 years$4,400$2,846$1,785$1,091$655$492
39 years$4,240$2,707$1,672$1,006$594$442
40 years$4,088$2,575$1,567$928$539$397
41 years$3,944$2,451$1,470$856$489$357
42 years$3,807$2,335$1,379$790$443$321
43 years$3,676$2,224$1,294$730$402$288
44 years$3,553$2,120$1,214$674$365$259
45 years$3,434$2,022$1,140$622$332$233
46 years$3,322$1,929$1,071$575$301$210
47 years$3,214$1,841$1,006$531$273$188
48 years$3,112$1,757$945$491$248$170
49 years$3,013$1,678$889$453$226$152
50 years$2,919$1,603$835$419$205$137

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 $5,447 every year, while hoping to spend $25,906 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: 52/29/19 Blend
65$2,990,000$2,990,000$2,990,000$2,990,000
66$3,300,599$3,142,129$3,095,784$3,454,732
67$3,609,696$3,268,529$3,171,929$3,687,704
68$3,949,453$3,400,255$3,249,756$3,937,817
69$4,322,969$3,537,540$3,329,295$4,209,305
70$4,733,661$3,680,628$3,410,575$4,504,205
71$5,185,290$3,829,774$3,493,625$4,824,757
72$5,682,002$3,985,246$3,578,474$5,173,423
73$6,228,365$4,147,322$3,665,152$5,552,911
74$6,829,411$4,316,293$3,753,687$5,966,199
75$7,490,685$4,492,466$3,844,110$6,416,564
76$8,218,296$4,676,158$3,936,449$6,907,610
77$9,018,976$4,867,703$4,030,734$7,443,300
78$9,900,141$5,067,450$4,126,993$8,027,997
79$10,869,964$5,275,764$4,225,255$8,666,501
80$11,937,449$5,493,025$4,325,550$9,364,092
81$13,112,518$5,719,632$4,427,905$10,126,585
82$14,406,104$5,956,003$4,532,349$10,960,375
83$15,830,252$6,202,573$4,638,909$11,872,505
84$17,398,238$6,459,800$4,747,612$12,870,725
85$19,124,688$6,728,159$4,858,486$13,963,567
86$21,025,717$7,008,150$4,971,557$15,160,424
87$23,119,087$7,300,296$5,086,851$16,471,637
88$25,424,366$7,605,143$5,204,393$17,908,592
89$27,963,118$7,923,261$5,324,206$19,483,823
90$30,759,105$8,255,250$5,446,316$21,211,134
91$33,838,511$8,601,734$5,570,745$23,105,724
92$37,230,188$8,963,368$5,697,514$25,184,332
93$40,965,931$9,340,837$5,826,645$27,465,387
94$45,080,775$9,734,858$5,958,157$29,969,190
95$49,613,328$10,146,179$6,092,068$32,718,095
96$54,606,131$10,575,586$6,228,397$35,736,724
97$60,106,067$11,023,900$6,367,158$39,052,193
98$66,164,794$11,491,979$6,508,366$42,694,371
99$72,839,240$11,980,723$6,652,034$46,696,155
100$80,192,138$12,491,074$6,798,172$51,093,782