Can I retire at age 67 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$242,782$240,620$238,510$236,451$234,440$226,482
2 years$120,189$117,951$115,782$113,678$111,638$103,701
3 years$79,330$77,082$74,918$72,835$70,828$63,160
4 years$58,905$56,664$54,521$52,473$50,515$43,175
5 years$46,653$44,425$42,311$40,305$38,401$31,409
6 years$38,487$36,276$34,193$32,232$30,385$23,746
7 years$32,657$30,465$28,415$26,500$24,711$18,424
8 years$28,287$26,114$24,098$22,230$20,500$14,561
9 years$24,889$22,737$20,756$18,935$17,264$11,664
10 years$22,172$20,041$18,095$16,322$14,710$9,441
11 years$19,951$17,842$15,931$14,205$12,651$7,703
12 years$18,102$16,014$14,138$12,460$10,963$6,324
13 years$16,538$14,472$12,632$11,000$9,560$5,218
14 years$15,199$13,154$11,349$9,765$8,380$4,323
15 years$14,039$12,017$10,247$8,708$7,379$3,593
16 years$13,025$11,025$9,290$7,797$6,521$2,995
17 years$12,132$10,154$8,454$7,006$5,782$2,501
18 years$11,338$9,383$7,717$6,314$5,141$2,093
19 years$10,629$8,696$7,065$5,705$4,583$1,754
20 years$9,992$8,080$6,484$5,167$4,093$1,472
21 years$9,416$7,527$5,964$4,689$3,663$1,236
22 years$8,893$7,026$5,497$4,264$3,283$1,039
23 years$8,417$6,571$5,075$3,883$2,947$875
24 years$7,981$6,157$4,694$3,542$2,649$736
25 years$7,580$5,778$4,347$3,234$2,384$620
26 years$7,210$5,430$4,032$2,957$2,147$523
27 years$6,869$5,110$3,744$2,707$1,936$440
28 years$6,553$4,816$3,480$2,480$1,747$371
29 years$6,259$4,543$3,239$2,274$1,577$313
30 years$5,985$4,290$3,017$2,087$1,425$264
31 years$5,729$4,056$2,813$1,917$1,289$223
32 years$5,489$3,838$2,624$1,762$1,166$188
33 years$5,265$3,634$2,450$1,620$1,055$159
34 years$5,054$3,444$2,289$1,491$955$134
35 years$4,856$3,267$2,140$1,372$865$113
36 years$4,669$3,101$2,002$1,264$784$96
37 years$4,493$2,945$1,874$1,164$710$81
38 years$4,327$2,799$1,755$1,073$644$68
39 years$4,169$2,661$1,644$990$584$58
40 years$4,019$2,532$1,541$913$530$49
41 years$3,878$2,410$1,445$842$481$41
42 years$3,743$2,296$1,356$777$436$35
43 years$3,615$2,187$1,272$717$396$29
44 years$3,493$2,085$1,194$662$359$25
45 years$3,377$1,988$1,121$612$326$21
46 years$3,266$1,897$1,053$565$296$18
47 years$3,161$1,810$989$522$269$15
48 years$3,060$1,728$930$482$244$13
49 years$2,963$1,650$874$446$222$11
50 years$2,870$1,576$821$412$201$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,940,000, adding $6,874 every year, while hoping to spend $40,166 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: 42/34/24 Blend
66$2,940,000$2,940,000$2,940,000$2,940,000
67$3,246,971$3,091,151$3,045,581$3,360,264
68$3,535,425$3,199,881$3,104,871$3,550,624
69$3,851,956$3,312,592$3,164,802$3,752,283
70$4,199,384$3,429,438$3,225,352$3,969,874
71$4,580,818$3,550,577$3,286,497$4,204,885
72$4,999,681$3,676,175$3,348,214$4,458,955
73$5,459,743$3,806,402$3,410,474$4,733,884
74$5,965,160$3,941,439$3,473,248$5,031,650
75$6,520,508$4,081,471$3,536,504$5,354,430
76$7,130,829$4,226,692$3,600,206$5,704,619
77$7,801,677$4,377,304$3,664,316$6,084,850
78$8,539,172$4,533,516$3,728,795$6,498,020
79$9,350,056$4,695,546$3,793,598$6,947,318
80$10,241,757$4,863,623$3,858,678$7,436,249
81$11,222,458$5,037,982$3,923,986$7,968,674
82$12,301,175$5,218,870$3,989,466$8,548,841
83$13,487,844$5,406,544$4,055,062$9,181,425
84$14,793,410$5,601,270$4,120,712$9,871,573
85$16,229,931$5,803,326$4,186,350$10,624,948
86$17,810,698$6,013,002$4,251,906$11,447,788
87$19,550,350$6,230,600$4,317,305$12,346,957
88$21,465,019$6,456,433$4,382,469$13,330,016
89$23,572,482$6,690,829$4,447,313$14,405,286
90$25,892,324$6,934,129$4,511,746$15,581,934
91$28,446,126$7,186,686$4,575,675$16,870,049
92$31,257,669$7,448,872$4,638,998$18,280,747
93$34,353,156$7,721,071$4,701,609$19,826,266
94$37,761,459$8,003,685$4,763,394$21,520,085
95$41,514,394$8,297,131$4,824,234$23,377,048
96$45,647,018$8,601,847$4,884,002$25,413,507
97$50,197,961$8,918,285$4,942,564$27,647,469
98$55,209,792$9,246,920$4,999,778$30,098,770
99$60,729,416$9,588,244$5,055,496$32,789,261
100$66,808,521$9,942,773$5,109,560$35,743,008