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%11.5%
1 years$246,086$243,894$241,755$239,668$237,629$236,132
2 years$121,825$119,556$117,357$115,225$113,157$111,646
3 years$80,410$78,131$75,938$73,826$71,791$70,314
4 years$59,706$57,435$55,263$53,187$51,202$49,770
5 years$47,287$45,029$42,886$40,853$38,923$37,541
6 years$39,011$36,770$34,659$32,670$30,799$29,467
7 years$33,101$30,879$28,801$26,860$25,047$23,768
8 years$28,671$26,469$24,426$22,532$20,779$19,551
9 years$25,228$23,046$21,038$19,193$17,499$16,323
10 years$22,474$20,314$18,341$16,544$14,910$13,785
11 years$20,223$18,084$16,148$14,398$12,823$11,748
12 years$18,348$16,232$14,331$12,629$11,112$10,086
13 years$16,763$14,669$12,803$11,150$9,690$8,712
14 years$15,405$13,333$11,504$9,898$8,494$7,563
15 years$14,230$12,180$10,386$8,827$7,479$6,594
16 years$13,203$11,175$9,417$7,903$6,610$5,769
17 years$12,297$10,292$8,569$7,101$5,861$5,063
18 years$11,493$9,510$7,822$6,400$5,211$4,455
19 years$10,774$8,814$7,161$5,783$4,645$3,929
20 years$10,128$8,190$6,572$5,237$4,149$3,472
21 years$9,544$7,629$6,045$4,753$3,713$3,074
22 years$9,014$7,121$5,571$4,322$3,328$2,725
23 years$8,531$6,661$5,144$3,936$2,987$2,419
24 years$8,089$6,240$4,757$3,590$2,685$2,150
25 years$7,683$5,856$4,406$3,278$2,416$1,912
26 years$7,309$5,504$4,087$2,998$2,176$1,703
27 years$6,963$5,180$3,795$2,744$1,962$1,517
28 years$6,642$4,881$3,528$2,514$1,771$1,353
29 years$6,344$4,605$3,283$2,305$1,599$1,207
30 years$6,066$4,349$3,058$2,116$1,445$1,078
31 years$5,807$4,111$2,851$1,943$1,306$963
32 years$5,564$3,890$2,660$1,786$1,181$860
33 years$5,337$3,684$2,484$1,642$1,069$769
34 years$5,123$3,491$2,320$1,511$968$688
35 years$4,922$3,311$2,169$1,391$877$615
36 years$4,733$3,143$2,029$1,281$794$550
37 years$4,554$2,985$1,900$1,180$720$493
38 years$4,385$2,837$1,779$1,088$653$441
39 years$4,226$2,698$1,667$1,003$592$395
40 years$4,074$2,567$1,562$925$537$354
41 years$3,930$2,443$1,465$854$487$317
42 years$3,794$2,327$1,374$788$442$284
43 years$3,664$2,217$1,289$727$401$254
44 years$3,541$2,113$1,210$671$364$228
45 years$3,423$2,015$1,136$620$331$204
46 years$3,311$1,922$1,067$573$300$183
47 years$3,204$1,835$1,003$529$273$164
48 years$3,101$1,751$942$489$247$147
49 years$3,003$1,672$886$452$225$132
50 years$2,910$1,598$833$418$204$118

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 $5,634 every year, while hoping to spend $29,894 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: 74/10/16 Blend
66$2,980,000$2,980,000$2,980,000$2,980,000
67$3,289,771$3,131,831$3,085,641$3,521,015
68$3,593,521$3,253,484$3,157,203$3,796,537
69$3,927,251$3,380,096$3,230,161$4,094,120
70$4,293,989$3,511,878$3,304,529$4,419,396
71$4,697,067$3,649,052$3,380,322$4,775,113
72$5,140,160$3,791,848$3,457,555$5,164,291
73$5,627,314$3,940,506$3,536,241$5,590,258
74$6,162,988$4,095,278$3,616,393$6,056,679
75$6,752,093$4,256,428$3,698,023$6,567,590
76$7,400,043$4,424,229$3,781,142$7,127,433
77$8,112,799$4,598,968$3,865,763$7,741,105
78$8,896,932$4,780,945$3,951,893$8,413,995
79$9,759,681$4,970,472$4,039,543$9,152,042
80$10,709,020$5,167,878$4,128,719$9,961,784
81$11,753,738$5,373,502$4,219,430$10,850,425
82$12,903,518$5,587,702$4,311,680$11,825,900
83$14,169,029$5,810,852$4,405,473$12,896,950
84$15,562,027$6,043,340$4,500,813$14,073,202
85$17,095,465$6,285,575$4,597,701$15,365,263
86$18,783,616$6,537,982$4,696,138$16,784,817
87$20,642,208$6,801,006$4,796,121$18,344,736
88$22,688,569$7,075,111$4,897,648$20,059,200
89$24,941,797$7,360,785$5,000,712$21,943,831
90$27,422,932$7,658,535$5,105,308$24,015,842
91$30,155,160$7,968,893$5,211,425$26,294,194
92$33,164,031$8,292,414$5,319,053$28,799,778
93$36,477,698$8,629,678$5,428,177$31,555,612
94$40,127,184$8,981,292$5,538,781$34,587,054
95$44,146,673$9,347,892$5,650,847$37,922,047
96$48,573,835$9,730,140$5,764,351$41,591,375
97$53,450,180$10,128,730$5,879,271$45,628,956
98$58,821,449$10,544,389$5,995,577$50,072,165
99$64,738,047$10,977,875$6,113,240$54,962,180
100$71,255,518$11,429,981$6,232,223$60,344,373