Can I retire at age 67 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$245,260$243,075$240,944$238,863$236,832$233,389
2 years$121,416$119,154$116,963$114,838$112,777$109,316
3 years$80,140$77,869$75,683$73,578$71,550$68,178
4 years$59,506$57,242$55,078$53,009$51,030$47,773
5 years$47,129$44,878$42,743$40,716$38,792$35,660
6 years$38,880$36,646$34,542$32,561$30,695$27,691
7 years$32,990$30,776$28,705$26,770$24,963$22,088
8 years$28,575$26,380$24,344$22,457$20,710$17,963
9 years$25,143$22,969$20,967$19,128$17,440$14,821
10 years$22,399$20,246$18,280$16,489$14,860$12,367
11 years$20,155$18,024$16,093$14,350$12,780$10,410
12 years$18,286$16,177$14,282$12,587$11,075$8,825
13 years$16,707$14,619$12,760$11,112$9,658$7,524
14 years$15,354$13,289$11,465$9,864$8,466$6,446
15 years$14,182$12,139$10,352$8,797$7,454$5,545
16 years$13,158$11,138$9,385$7,877$6,588$4,785
17 years$12,256$10,257$8,540$7,077$5,841$4,141
18 years$11,454$9,478$7,796$6,378$5,194$3,592
19 years$10,738$8,784$7,137$5,763$4,629$3,123
20 years$10,094$8,163$6,550$5,220$4,135$2,719
21 years$9,512$7,603$6,025$4,737$3,700$2,371
22 years$8,984$7,098$5,553$4,307$3,317$2,071
23 years$8,503$6,638$5,127$3,923$2,977$1,810
24 years$8,062$6,220$4,742$3,578$2,676$1,584
25 years$7,657$5,837$4,392$3,267$2,408$1,388
26 years$7,284$5,486$4,073$2,987$2,169$1,216
27 years$6,939$5,163$3,782$2,735$1,956$1,067
28 years$6,619$4,865$3,516$2,505$1,765$936
29 years$6,322$4,589$3,272$2,298$1,593$822
30 years$6,046$4,334$3,048$2,109$1,440$722
31 years$5,787$4,097$2,841$1,937$1,302$634
32 years$5,545$3,877$2,651$1,780$1,177$557
33 years$5,319$3,671$2,475$1,637$1,066$490
34 years$5,106$3,480$2,313$1,506$965$431
35 years$4,906$3,300$2,162$1,386$874$379
36 years$4,717$3,132$2,023$1,277$792$334
37 years$4,539$2,975$1,893$1,176$718$293
38 years$4,371$2,827$1,773$1,084$651$258
39 years$4,211$2,689$1,661$1,000$590$227
40 years$4,060$2,558$1,557$922$535$200
41 years$3,917$2,435$1,460$851$485$176
42 years$3,781$2,319$1,369$785$441$155
43 years$3,652$2,210$1,285$725$400$137
44 years$3,529$2,106$1,206$669$363$120
45 years$3,411$2,008$1,133$618$329$106
46 years$3,300$1,916$1,064$571$299$93
47 years$3,193$1,828$999$527$272$82
48 years$3,091$1,745$939$487$247$72
49 years$2,993$1,667$883$450$224$64
50 years$2,900$1,592$830$416$203$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,970,000, adding $5,887 every year, while hoping to spend $53,375 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: 67/17/16 Blend
66$2,970,000$2,970,000$2,970,000$2,970,000
67$3,279,012$3,121,602$3,075,567$3,485,779
68$3,556,681$3,217,770$3,121,808$3,720,746
69$3,860,883$3,316,862$3,167,809$3,970,775
70$4,194,268$3,418,963$3,213,506$4,242,842
71$4,559,756$3,524,164$3,258,831$4,539,107
72$4,960,559$3,632,557$3,303,710$4,861,949
73$5,400,220$3,744,235$3,348,068$5,213,984
74$5,882,637$3,859,297$3,391,822$5,598,097
75$6,412,105$3,977,843$3,434,888$6,017,463
76$6,993,357$4,099,974$3,477,174$6,475,579
77$7,631,603$4,225,797$3,518,583$6,976,296
78$8,332,586$4,355,420$3,559,015$7,523,855
79$9,102,630$4,488,956$3,598,362$8,122,929
80$9,948,702$4,626,518$3,636,511$8,778,664
81$10,878,478$4,768,226$3,673,343$9,496,729
82$11,900,414$4,914,200$3,708,731$10,283,368
83$13,023,826$5,064,566$3,742,543$11,145,460
84$14,258,977$5,219,450$3,774,639$12,090,584
85$15,617,175$5,378,986$3,804,872$13,127,086
86$17,110,879$5,543,308$3,833,087$14,264,165
87$18,753,814$5,712,556$3,859,121$15,511,953
88$20,561,104$5,886,872$3,882,802$16,881,614
89$22,549,411$6,066,403$3,903,950$18,385,446
90$24,737,094$6,251,300$3,922,376$20,037,001
91$27,144,382$6,441,717$3,937,879$21,851,209
92$29,793,562$6,637,815$3,950,252$23,844,520
93$32,709,193$6,839,755$3,959,273$26,035,059
94$35,918,333$7,047,706$3,964,711$28,442,798
95$39,450,800$7,261,840$3,966,326$31,089,742
96$43,339,445$7,482,334$3,963,861$34,000,136
97$47,620,469$7,709,369$3,957,051$37,200,698
98$52,333,760$7,943,131$3,945,615$40,720,866
99$57,523,270$8,183,812$3,929,260$44,593,077
100$63,237,432$8,431,607$3,907,679$48,853,076