Can I retire at age 67 with 2,990,000?

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 $2,990,000?

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$246,911$244,712$242,566$240,472$238,427$232,852
2 years$122,233$119,957$117,751$115,611$113,537$107,952
3 years$80,679$78,393$76,192$74,073$72,032$66,612
4 years$59,907$57,627$55,449$53,366$51,374$46,160
5 years$47,446$45,180$43,030$40,990$39,054$34,060
6 years$39,142$36,893$34,775$32,780$30,902$26,134
7 years$33,213$30,983$28,898$26,950$25,131$20,591
8 years$28,768$26,558$24,508$22,608$20,849$16,533
9 years$25,312$23,124$21,109$19,257$17,558$13,463
10 years$22,550$20,382$18,403$16,600$14,960$11,083
11 years$20,291$18,145$16,202$14,447$12,866$9,200
12 years$18,410$16,286$14,379$12,672$11,150$7,689
13 years$16,819$14,718$12,846$11,187$9,723$6,461
14 years$15,457$13,378$11,542$9,931$8,523$5,454
15 years$14,278$12,221$10,421$8,856$7,504$4,620
16 years$13,247$11,213$9,448$7,930$6,632$3,926
17 years$12,338$10,326$8,598$7,125$5,881$3,344
18 years$11,531$9,542$7,849$6,421$5,229$2,855
19 years$10,810$8,844$7,185$5,802$4,660$2,442
20 years$10,162$8,218$6,594$5,255$4,163$2,092
21 years$9,576$7,655$6,065$4,769$3,725$1,794
22 years$9,045$7,145$5,590$4,336$3,339$1,540
23 years$8,560$6,683$5,161$3,949$2,997$1,324
24 years$8,116$6,261$4,773$3,602$2,694$1,138
25 years$7,709$5,876$4,421$3,289$2,424$980
26 years$7,333$5,523$4,100$3,008$2,184$844
27 years$6,986$5,197$3,808$2,753$1,969$727
28 years$6,664$4,897$3,540$2,522$1,777$627
29 years$6,365$4,620$3,294$2,313$1,604$540
30 years$6,086$4,363$3,068$2,123$1,449$466
31 years$5,826$4,125$2,860$1,950$1,310$402
32 years$5,583$3,903$2,669$1,792$1,185$347
33 years$5,355$3,696$2,492$1,648$1,073$300
34 years$5,140$3,503$2,328$1,516$971$259
35 years$4,939$3,323$2,177$1,396$880$223
36 years$4,749$3,154$2,036$1,285$797$193
37 years$4,570$2,995$1,906$1,184$722$167
38 years$4,400$2,846$1,785$1,091$655$144
39 years$4,240$2,707$1,672$1,006$594$124
40 years$4,088$2,575$1,567$928$539$107
41 years$3,944$2,451$1,470$856$489$93
42 years$3,807$2,335$1,379$790$443$80
43 years$3,676$2,224$1,294$730$402$69
44 years$3,553$2,120$1,214$674$365$60
45 years$3,434$2,022$1,140$622$332$52
46 years$3,322$1,929$1,071$575$301$45
47 years$3,214$1,841$1,006$531$273$39
48 years$3,112$1,757$945$491$248$33
49 years$3,013$1,678$889$453$226$29
50 years$2,919$1,603$835$419$205$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,990,000, adding $6,970 every year, while hoping to spend $43,727 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: 72/21/7 Blend
66$2,990,000$2,990,000$2,990,000$2,990,000
67$3,302,170$3,143,700$3,097,355$3,536,058
68$3,592,466$3,251,216$3,154,591$3,798,840
69$3,910,906$3,362,534$3,212,279$4,080,325
70$4,260,316$3,477,796$3,270,388$4,387,286
71$4,643,807$3,597,146$3,328,884$4,722,221
72$5,064,805$3,720,736$3,387,731$5,087,879
73$5,527,086$3,848,723$3,446,891$5,487,288
74$6,034,808$3,981,270$3,506,321$5,923,780
75$6,592,552$4,118,546$3,565,977$6,401,025
76$7,205,366$4,260,728$3,625,810$6,923,063
77$7,878,808$4,407,999$3,685,770$7,494,340
78$8,619,004$4,560,548$3,745,801$8,119,756
79$9,432,701$4,718,574$3,805,844$8,804,704
80$10,327,334$4,882,282$3,865,837$9,555,122
81$11,311,094$5,051,885$3,925,714$10,377,553
82$12,393,003$5,227,605$3,985,404$11,279,200
83$13,583,005$5,409,673$4,044,830$12,267,997
84$14,892,054$5,598,329$4,103,914$13,352,683
85$16,332,218$5,793,822$4,162,570$14,542,882
86$17,916,796$5,996,411$4,220,708$15,849,198
87$19,660,440$6,206,366$4,278,232$17,283,308
88$21,579,294$6,423,967$4,335,042$18,858,076
89$23,691,145$6,649,505$4,391,029$20,587,672
90$26,015,595$6,883,283$4,446,081$22,487,707
91$28,574,239$7,125,617$4,500,078$24,575,377
92$31,390,873$7,376,835$4,552,893$26,869,627
93$34,491,720$7,637,277$4,604,392$29,391,326
94$37,905,670$7,907,299$4,654,435$32,163,468
95$41,664,561$8,187,269$4,702,871$35,211,384
96$45,803,473$8,477,572$4,749,544$38,562,981
97$50,361,062$8,778,607$4,794,288$42,249,007
98$55,379,922$9,090,791$4,836,928$46,303,337
99$60,906,990$9,414,555$4,877,281$50,763,295
100$66,993,985$9,750,351$4,915,153$55,670,003