Can I retire at age 67 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$244,434$242,257$240,132$238,059$236,035$230,516
2 years$121,007$118,753$116,569$114,451$112,397$106,869
3 years$79,870$77,607$75,428$73,330$71,310$65,944
4 years$59,306$57,049$54,892$52,830$50,859$45,697
5 years$46,970$44,727$42,599$40,579$38,662$33,719
6 years$38,749$36,523$34,426$32,451$30,592$25,872
7 years$32,879$30,672$28,608$26,680$24,879$20,384
8 years$28,479$26,292$24,262$22,381$20,640$16,367
9 years$25,058$22,892$20,897$19,064$17,382$13,328
10 years$22,323$20,178$18,218$16,433$14,810$10,971
11 years$20,087$17,963$16,039$14,302$12,737$9,108
12 years$18,225$16,123$14,234$12,545$11,038$7,612
13 years$16,650$14,570$12,717$11,075$9,625$6,397
14 years$15,302$13,244$11,427$9,831$8,437$5,399
15 years$14,135$12,099$10,317$8,768$7,429$4,574
16 years$13,114$11,100$9,354$7,850$6,566$3,887
17 years$12,214$10,223$8,511$7,054$5,822$3,311
18 years$11,416$9,446$7,770$6,357$5,176$2,827
19 years$10,702$8,755$7,113$5,744$4,614$2,417
20 years$10,060$8,135$6,528$5,202$4,121$2,071
21 years$9,480$7,578$6,004$4,721$3,688$1,776
22 years$8,954$7,074$5,534$4,293$3,306$1,525
23 years$8,474$6,616$5,110$3,909$2,967$1,310
24 years$8,035$6,199$4,726$3,566$2,667$1,127
25 years$7,631$5,817$4,377$3,256$2,400$970
26 years$7,260$5,467$4,059$2,977$2,162$835
27 years$6,916$5,145$3,769$2,725$1,949$720
28 years$6,597$4,848$3,504$2,497$1,759$620
29 years$6,301$4,574$3,261$2,290$1,588$535
30 years$6,025$4,319$3,037$2,101$1,435$461
31 years$5,768$4,083$2,832$1,930$1,297$398
32 years$5,527$3,864$2,642$1,774$1,173$344
33 years$5,301$3,659$2,467$1,631$1,062$297
34 years$5,089$3,468$2,305$1,501$962$256
35 years$4,889$3,289$2,155$1,382$871$221
36 years$4,701$3,122$2,016$1,272$789$191
37 years$4,524$2,965$1,887$1,172$715$165
38 years$4,356$2,818$1,767$1,081$648$142
39 years$4,197$2,680$1,655$996$588$123
40 years$4,047$2,549$1,552$919$533$106
41 years$3,904$2,427$1,455$848$484$92
42 years$3,769$2,311$1,365$782$439$79
43 years$3,640$2,202$1,281$722$398$69
44 years$3,517$2,099$1,202$667$362$59
45 years$3,400$2,002$1,129$616$328$51
46 years$3,288$1,909$1,060$569$298$44
47 years$3,182$1,822$996$526$271$38
48 years$3,080$1,740$936$486$246$33
49 years$2,983$1,661$880$449$223$29
50 years$2,890$1,587$827$415$203$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,960,000, adding $6,395 every year, while hoping to spend $59,753 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: 46/29/25 Blend
66$2,960,000$2,960,000$2,960,000$2,960,000
67$3,268,516$3,111,636$3,065,756$3,395,124
68$3,538,328$3,200,530$3,104,883$3,573,926
69$3,833,658$3,291,776$3,143,317$3,761,462
70$4,157,047$3,385,428$3,180,973$3,963,757
71$4,511,289$3,481,538$3,217,759$4,182,220
72$4,899,467$3,580,160$3,253,580$4,418,405
73$5,324,971$3,681,347$3,288,334$4,674,020
74$5,791,539$3,785,153$3,321,914$4,950,950
75$6,303,284$3,891,633$3,354,206$5,251,268
76$6,864,739$4,000,843$3,385,092$5,577,256
77$7,480,895$4,112,838$3,414,445$5,931,431
78$8,157,252$4,227,673$3,442,135$6,316,562
79$8,899,867$4,345,403$3,468,021$6,735,701
80$9,715,411$4,466,086$3,491,958$7,192,210
81$10,611,235$4,589,777$3,513,791$7,689,792
82$11,595,436$4,716,531$3,533,358$8,232,527
83$12,676,935$4,846,404$3,550,489$8,824,910
84$13,865,557$4,979,453$3,565,005$9,471,894
85$15,172,129$5,115,731$3,576,718$10,178,933
86$16,608,578$5,255,294$3,585,430$10,952,042
87$18,188,045$5,398,196$3,590,935$11,797,843
88$19,925,008$5,544,490$3,593,013$12,723,636
89$21,835,417$5,694,228$3,591,438$13,737,464
90$23,936,847$5,847,463$3,585,968$14,848,190
91$26,248,660$6,004,244$3,576,353$16,065,580
92$28,792,192$6,164,620$3,562,329$17,400,395
93$31,590,948$6,328,638$3,543,619$18,864,496
94$34,670,828$6,496,345$3,519,934$20,470,950
95$38,060,371$6,667,785$3,490,970$22,234,159
96$41,791,021$6,842,998$3,456,409$24,169,993
97$45,897,424$7,022,024$3,415,918$26,295,942
98$50,417,757$7,204,899$3,369,148$28,631,280
99$55,394,087$7,391,658$3,315,733$31,197,246
100$60,872,764$7,582,329$3,255,290$34,017,249