Can I retire at age 66 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$247,737$245,530$243,378$241,276$239,224$237,418
2 years$122,642$120,358$118,144$115,998$113,916$112,095
3 years$80,949$78,655$76,447$74,321$72,273$70,494
4 years$60,107$57,820$55,634$53,544$51,546$49,822
5 years$47,605$45,332$43,174$41,127$39,184$37,521
6 years$39,273$37,017$34,891$32,890$31,005$29,404
7 years$33,324$31,087$28,995$27,040$25,216$23,678
8 years$28,864$26,647$24,590$22,684$20,919$19,444
9 years$25,397$23,201$21,179$19,321$17,617$16,205
10 years$22,625$20,450$18,465$16,655$15,010$13,660
11 years$20,359$18,206$16,256$14,495$12,909$11,621
12 years$18,471$16,341$14,427$12,714$11,187$9,958
13 years$16,875$14,767$12,889$11,225$9,755$8,585
14 years$15,509$13,423$11,581$9,964$8,551$7,438
15 years$14,326$12,262$10,456$8,886$7,529$6,472
16 years$13,291$11,250$9,480$7,957$6,654$5,651
17 years$12,379$10,361$8,626$7,149$5,900$4,949
18 years$11,570$9,574$7,875$6,443$5,246$4,346
19 years$10,846$8,873$7,209$5,821$4,676$3,825
20 years$10,196$8,245$6,616$5,272$4,177$3,372
21 years$9,608$7,680$6,086$4,785$3,738$2,978
22 years$9,075$7,169$5,609$4,351$3,350$2,635
23 years$8,589$6,705$5,179$3,962$3,007$2,333
24 years$8,143$6,282$4,789$3,614$2,703$2,069
25 years$7,734$5,896$4,436$3,300$2,432$1,836
26 years$7,358$5,541$4,114$3,018$2,191$1,631
27 years$7,009$5,215$3,820$2,762$1,975$1,450
28 years$6,686$4,914$3,551$2,531$1,782$1,290
29 years$6,386$4,636$3,305$2,321$1,610$1,148
30 years$6,107$4,378$3,078$2,130$1,454$1,023
31 years$5,846$4,139$2,870$1,956$1,315$911
32 years$5,601$3,916$2,678$1,798$1,189$812
33 years$5,373$3,708$2,500$1,653$1,076$724
34 years$5,158$3,515$2,336$1,521$975$646
35 years$4,955$3,334$2,184$1,400$883$576
36 years$4,765$3,164$2,043$1,290$800$515
37 years$4,585$3,005$1,912$1,188$725$459
38 years$4,415$2,856$1,791$1,095$657$410
39 years$4,254$2,716$1,678$1,010$596$366
40 years$4,101$2,584$1,573$931$541$327
41 years$3,957$2,460$1,475$859$490$292
42 years$3,819$2,342$1,383$793$445$261
43 years$3,689$2,232$1,298$732$404$233
44 years$3,564$2,127$1,218$676$367$209
45 years$3,446$2,029$1,144$624$333$186
46 years$3,333$1,935$1,074$577$302$167
47 years$3,225$1,847$1,009$533$274$149
48 years$3,122$1,763$949$492$249$133
49 years$3,023$1,684$892$455$226$119
50 years$2,929$1,608$838$421$206$106

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $3,000,000, adding $2,418 every year, while hoping to spend $23,796 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: 70/13/17 Blend
65$3,000,000$3,000,000$3,000,000$3,000,000
66$3,308,494$3,149,494$3,102,994$3,526,641
67$3,620,642$3,278,501$3,181,626$3,801,161
68$3,963,831$3,413,031$3,262,094$4,098,448
69$4,341,203$3,553,330$3,344,435$4,423,220
70$4,756,218$3,699,656$3,428,686$4,778,191
71$5,212,689$3,852,276$3,514,884$5,166,343
72$5,714,818$4,011,472$3,603,067$5,590,964
73$6,267,232$4,177,537$3,693,273$6,055,669
74$6,875,032$4,350,779$3,785,540$6,564,442
75$7,543,837$4,531,518$3,879,907$7,121,667
76$8,279,837$4,720,092$3,976,413$7,732,175
77$9,089,856$4,916,851$4,075,098$8,401,282
78$9,981,409$5,122,165$4,176,001$9,134,843
79$10,962,778$5,336,416$4,279,162$9,939,307
80$12,043,090$5,560,009$4,384,623$10,821,777
81$13,232,400$5,793,364$4,492,422$11,790,072
82$14,541,788$6,036,923$4,602,602$12,852,810
83$15,983,464$6,291,146$4,715,203$14,019,476
84$17,570,881$6,556,516$4,830,266$15,300,524
85$19,318,864$6,833,537$4,947,833$16,707,463
86$21,243,746$7,122,740$5,067,944$18,252,976
87$23,363,529$7,424,675$5,190,641$19,951,029
88$25,698,047$7,739,922$5,315,965$21,817,009
89$28,269,157$8,069,086$5,443,959$23,867,866
90$31,100,941$8,412,802$5,574,662$26,122,273
91$34,219,940$8,771,732$5,708,116$28,600,799
92$37,655,398$9,146,571$5,844,361$31,326,105
93$41,439,541$9,538,045$5,983,440$34,323,158
94$45,607,880$9,946,915$6,125,391$37,619,462
95$50,199,547$10,373,978$6,270,255$41,245,318
96$55,257,663$10,820,065$6,418,071$45,234,111
97$60,829,747$11,286,051$6,568,879$49,622,623
98$66,968,162$11,772,848$6,722,717$54,451,378
99$73,730,608$12,281,411$6,879,622$59,765,024
100$81,180,673$12,812,743$7,039,632$65,612,754