Can I retire at age 67 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$246,086$243,894$241,755$239,668$237,629$232,736
2 years$121,825$119,556$117,357$115,225$113,157$108,249
3 years$80,410$78,131$75,938$73,826$71,791$67,023
4 years$59,706$57,435$55,263$53,187$51,202$46,609
5 years$47,287$45,029$42,886$40,853$38,923$34,518
6 years$39,011$36,770$34,659$32,670$30,799$26,587
7 years$33,101$30,879$28,801$26,860$25,047$21,030
8 years$28,671$26,469$24,426$22,532$20,779$16,955
9 years$25,228$23,046$21,038$19,193$17,499$13,865
10 years$22,474$20,314$18,341$16,544$14,910$11,463
11 years$20,223$18,084$16,148$14,398$12,823$9,558
12 years$18,348$16,232$14,331$12,629$11,112$8,025
13 years$16,763$14,669$12,803$11,150$9,690$6,775
14 years$15,405$13,333$11,504$9,898$8,494$5,746
15 years$14,230$12,180$10,386$8,827$7,479$4,891
16 years$13,203$11,175$9,417$7,903$6,610$4,177
17 years$12,297$10,292$8,569$7,101$5,861$3,576
18 years$11,493$9,510$7,822$6,400$5,211$3,069
19 years$10,774$8,814$7,161$5,783$4,645$2,638
20 years$10,128$8,190$6,572$5,237$4,149$2,272
21 years$9,544$7,629$6,045$4,753$3,713$1,959
22 years$9,014$7,121$5,571$4,322$3,328$1,691
23 years$8,531$6,661$5,144$3,936$2,987$1,461
24 years$8,089$6,240$4,757$3,590$2,685$1,264
25 years$7,683$5,856$4,406$3,278$2,416$1,094
26 years$7,309$5,504$4,087$2,998$2,176$947
27 years$6,963$5,180$3,795$2,744$1,962$821
28 years$6,642$4,881$3,528$2,514$1,771$712
29 years$6,344$4,605$3,283$2,305$1,599$617
30 years$6,066$4,349$3,058$2,116$1,445$535
31 years$5,807$4,111$2,851$1,943$1,306$465
32 years$5,564$3,890$2,660$1,786$1,181$403
33 years$5,337$3,684$2,484$1,642$1,069$350
34 years$5,123$3,491$2,320$1,511$968$304
35 years$4,922$3,311$2,169$1,391$877$264
36 years$4,733$3,143$2,029$1,281$794$229
37 years$4,554$2,985$1,900$1,180$720$199
38 years$4,385$2,837$1,779$1,088$653$173
39 years$4,226$2,698$1,667$1,003$592$151
40 years$4,074$2,567$1,562$925$537$131
41 years$3,930$2,443$1,465$854$487$114
42 years$3,794$2,327$1,374$788$442$99
43 years$3,664$2,217$1,289$727$401$86
44 years$3,541$2,113$1,210$671$364$75
45 years$3,423$2,015$1,136$620$331$65
46 years$3,311$1,922$1,067$573$300$56
47 years$3,204$1,835$1,003$529$273$49
48 years$3,101$1,751$942$489$247$43
49 years$3,003$1,672$886$452$225$37
50 years$2,910$1,598$833$418$204$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,980,000, adding $2,254 every year, while hoping to spend $42,223 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: 27/50/23 Blend
66$2,980,000$2,980,000$2,980,000$2,980,000
67$3,286,285$3,128,345$3,082,155$3,351,123
68$3,576,561$3,236,709$3,140,482$3,511,016
69$3,895,030$3,348,968$3,199,348$3,678,731
70$4,244,524$3,465,267$3,258,727$3,857,920
71$4,628,159$3,585,760$3,318,589$4,049,584
72$5,049,373$3,710,603$3,378,903$4,254,823
73$5,511,949$3,839,962$3,439,635$4,474,838
74$6,020,054$3,974,007$3,500,750$4,710,953
75$6,578,282$4,112,916$3,562,207$4,964,616
76$7,191,691$4,256,873$3,623,965$5,237,420
77$7,865,854$4,406,070$3,685,978$5,531,114
78$8,606,910$4,560,707$3,748,198$5,847,616
79$9,421,625$4,720,992$3,810,573$6,189,038
80$10,317,450$4,887,140$3,873,046$6,557,696
81$11,302,596$5,059,376$3,935,560$6,956,136
82$12,386,109$5,237,933$3,998,049$7,387,159
83$13,577,956$5,423,056$4,060,448$7,853,841
84$14,889,118$5,614,996$4,122,683$8,359,565
85$16,331,694$5,814,017$4,184,679$8,908,051
86$17,919,015$6,020,392$4,246,354$9,503,390
87$19,665,770$6,234,407$4,307,622$10,150,081
88$21,588,143$6,456,357$4,368,392$10,853,075
89$23,703,967$6,686,551$4,428,566$11,617,815
90$26,032,890$6,925,311$4,488,042$12,450,292
91$28,596,564$7,172,970$4,546,710$13,357,097
92$31,418,844$7,429,876$4,604,456$14,345,485
93$34,526,018$7,696,392$4,661,157$15,423,438
94$37,947,051$7,972,895$4,716,685$16,599,740
95$41,713,860$8,259,776$4,770,903$17,884,063
96$45,861,614$8,557,446$4,823,669$19,287,051
97$50,429,067$8,866,328$4,874,830$20,820,423
98$55,458,921$9,186,868$4,924,226$22,497,078
99$60,998,232$9,519,525$4,971,689$24,331,220
100$67,098,851$9,864,782$5,017,040$26,338,487