Can I retire at age 67 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$241,131$238,983$236,887$234,842$232,845$230,990
2 years$119,372$117,149$114,994$112,905$110,879$109,009
3 years$78,791$76,558$74,409$72,339$70,346$68,520
4 years$58,504$56,278$54,150$52,116$50,171$48,402
5 years$46,335$44,123$42,023$40,030$38,139$36,432
6 years$38,225$36,030$33,961$32,013$30,178$28,536
7 years$32,435$30,258$28,222$26,319$24,543$22,966
8 years$28,094$25,936$23,934$22,079$20,361$18,849
9 years$24,720$22,582$20,614$18,806$17,147$15,700
10 years$22,022$19,905$17,972$16,211$14,610$13,227
11 years$19,816$17,720$15,822$14,108$12,565$11,245
12 years$17,979$15,905$14,042$12,375$10,889$9,630
13 years$16,425$14,373$12,546$10,925$9,495$8,297
14 years$15,095$13,065$11,272$9,698$8,323$7,184
15 years$13,944$11,935$10,177$8,649$7,329$6,246
16 years$12,937$10,950$9,227$7,744$6,477$5,450
17 years$12,049$10,085$8,396$6,958$5,743$4,770
18 years$11,261$9,319$7,665$6,271$5,106$4,186
19 years$10,557$8,637$7,017$5,666$4,551$3,681
20 years$9,924$8,025$6,440$5,132$4,065$3,243
21 years$9,352$7,475$5,923$4,657$3,638$2,862
22 years$8,833$6,978$5,459$4,235$3,261$2,530
23 years$8,360$6,526$5,041$3,857$2,927$2,239
24 years$7,926$6,115$4,662$3,517$2,631$1,984
25 years$7,528$5,738$4,318$3,212$2,368$1,759
26 years$7,161$5,393$4,004$2,937$2,133$1,562
27 years$6,822$5,076$3,718$2,688$1,923$1,387
28 years$6,508$4,783$3,457$2,463$1,735$1,233
29 years$6,216$4,512$3,217$2,259$1,567$1,097
30 years$5,944$4,261$2,996$2,073$1,416$976
31 years$5,690$4,028$2,793$1,904$1,280$869
32 years$5,452$3,811$2,606$1,750$1,158$774
33 years$5,229$3,609$2,434$1,609$1,048$689
34 years$5,020$3,421$2,274$1,480$949$614
35 years$4,823$3,245$2,126$1,363$859$548
36 years$4,638$3,080$1,989$1,255$778$489
37 years$4,463$2,925$1,861$1,156$706$436
38 years$4,297$2,780$1,743$1,066$640$389
39 years$4,140$2,643$1,633$983$580$347
40 years$3,992$2,515$1,531$907$526$310
41 years$3,851$2,394$1,435$836$477$276
42 years$3,718$2,280$1,346$772$433$247
43 years$3,590$2,172$1,263$713$393$220
44 years$3,469$2,071$1,186$658$357$197
45 years$3,354$1,975$1,113$608$324$176
46 years$3,244$1,884$1,046$561$294$157
47 years$3,139$1,798$983$519$267$140
48 years$3,039$1,716$923$479$243$125
49 years$2,943$1,639$868$443$220$112
50 years$2,851$1,565$816$409$200$100

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,920,000, adding $5,404 every year, while hoping to spend $42,919 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: 75/18/7 Blend
66$2,920,000$2,920,000$2,920,000$2,920,000
67$3,223,414$3,068,654$3,023,394$3,461,814
68$3,506,537$3,173,353$3,079,012$3,724,100
69$3,817,100$3,281,743$3,135,055$4,005,427
70$4,157,856$3,393,961$3,191,492$4,312,464
71$4,531,839$3,510,147$3,248,289$4,647,742
72$4,942,390$3,630,447$3,305,410$5,014,048
73$5,393,188$3,755,013$3,362,815$5,414,450
74$5,888,288$3,884,004$3,420,464$5,852,324
75$6,432,156$4,017,582$3,478,312$6,331,389
76$7,029,711$4,155,919$3,536,311$6,855,742
77$7,686,373$4,299,190$3,594,408$7,429,890
78$8,408,113$4,447,580$3,652,551$8,058,800
79$9,201,508$4,601,280$3,710,680$8,747,940
80$10,073,807$4,760,488$3,768,732$9,503,334
81$11,032,994$4,925,409$3,826,643$10,331,615
82$12,087,864$5,096,260$3,884,341$11,240,088
83$13,248,111$5,273,261$3,941,750$12,236,801
84$14,524,412$5,456,645$3,998,793$13,330,618
85$15,928,533$5,646,652$4,055,384$14,531,303
86$17,473,438$5,843,532$4,111,434$15,849,610
87$19,173,409$6,047,545$4,166,847$17,297,387
88$21,044,184$6,258,962$4,221,524$18,887,685
89$23,103,103$6,478,064$4,275,357$20,634,882
90$25,369,274$6,705,143$4,328,235$22,554,816
91$27,863,747$6,940,502$4,380,039$24,664,936
92$30,609,721$7,184,459$4,430,642$26,984,466
93$33,632,757$7,437,342$4,479,913$29,534,584
94$36,961,019$7,699,492$4,527,710$32,338,624
95$40,625,542$7,971,266$4,573,888$35,422,291
96$44,660,522$8,253,033$4,618,288$38,813,910
97$49,103,643$8,545,180$4,660,749$42,544,684
98$53,996,426$8,848,105$4,701,095$46,648,997
99$59,384,626$9,162,226$4,739,146$51,164,729
100$65,318,660$9,487,978$4,774,710$56,133,619