Can I retire at age 75 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%12%
1 years$246,086$243,894$241,755$239,668$237,629$235,638
2 years$121,825$119,556$117,357$115,225$113,157$111,150
3 years$80,410$78,131$75,938$73,826$71,791$69,831
4 years$59,706$57,435$55,263$53,187$51,202$49,304
5 years$47,287$45,029$42,886$40,853$38,923$37,092
6 years$39,011$36,770$34,659$32,670$30,799$29,037
7 years$33,101$30,879$28,801$26,860$25,047$23,356
8 years$28,671$26,469$24,426$22,532$20,779$19,158
9 years$25,228$23,046$21,038$19,193$17,499$15,948
10 years$22,474$20,314$18,341$16,544$14,910$13,428
11 years$20,223$18,084$16,148$14,398$12,823$11,409
12 years$18,348$16,232$14,331$12,629$11,112$9,764
13 years$16,763$14,669$12,803$11,150$9,690$8,407
14 years$15,405$13,333$11,504$9,898$8,494$7,274
15 years$14,230$12,180$10,386$8,827$7,479$6,321
16 years$13,203$11,175$9,417$7,903$6,610$5,512
17 years$12,297$10,292$8,569$7,101$5,861$4,820
18 years$11,493$9,510$7,822$6,400$5,211$4,227
19 years$10,774$8,814$7,161$5,783$4,645$3,714
20 years$10,128$8,190$6,572$5,237$4,149$3,270
21 years$9,544$7,629$6,045$4,753$3,713$2,884
22 years$9,014$7,121$5,571$4,322$3,328$2,547
23 years$8,531$6,661$5,144$3,936$2,987$2,253
24 years$8,089$6,240$4,757$3,590$2,685$1,994
25 years$7,683$5,856$4,406$3,278$2,416$1,767
26 years$7,309$5,504$4,087$2,998$2,176$1,567
27 years$6,963$5,180$3,795$2,744$1,962$1,391
28 years$6,642$4,881$3,528$2,514$1,771$1,236
29 years$6,344$4,605$3,283$2,305$1,599$1,098
30 years$6,066$4,349$3,058$2,116$1,445$976
31 years$5,807$4,111$2,851$1,943$1,306$869
32 years$5,564$3,890$2,660$1,786$1,181$773
33 years$5,337$3,684$2,484$1,642$1,069$688
34 years$5,123$3,491$2,320$1,511$968$613
35 years$4,922$3,311$2,169$1,391$877$546
36 years$4,733$3,143$2,029$1,281$794$486
37 years$4,554$2,985$1,900$1,180$720$433
38 years$4,385$2,837$1,779$1,088$653$386
39 years$4,226$2,698$1,667$1,003$592$344
40 years$4,074$2,567$1,562$925$537$307
41 years$3,930$2,443$1,465$854$487$274
42 years$3,794$2,327$1,374$788$442$244
43 years$3,664$2,217$1,289$727$401$218
44 years$3,541$2,113$1,210$671$364$194
45 years$3,423$2,015$1,136$620$331$173
46 years$3,311$1,922$1,067$573$300$155
47 years$3,204$1,835$1,003$529$273$138
48 years$3,101$1,751$942$489$247$123
49 years$3,003$1,672$886$452$225$110
50 years$2,910$1,598$833$418$204$98

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 75 starting with $2,980,000, adding $6,833 every year, while hoping to spend $42,779 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: 46/37/17 Blend
74$2,980,000$2,980,000$2,980,000$2,980,000
75$3,291,008$3,133,068$3,086,878$3,426,166
76$3,581,175$3,241,072$3,144,772$3,629,067
77$3,899,504$3,352,934$3,203,172$3,844,214
78$4,248,824$3,468,799$3,262,049$4,076,711
79$4,632,250$3,588,815$3,321,373$4,328,189
80$5,053,211$3,713,139$3,381,110$4,600,444
81$5,515,487$3,841,931$3,441,226$4,895,446
82$6,023,241$3,975,360$3,501,681$5,215,364
83$6,581,058$4,113,600$3,562,435$5,562,585
84$7,193,992$4,256,832$3,623,442$5,939,730
85$7,867,608$4,405,245$3,684,656$6,349,688
86$8,608,037$4,559,035$3,746,025$6,795,633
87$9,422,034$4,718,406$3,807,494$7,281,059
88$10,317,043$4,883,569$3,869,007$7,809,812
89$11,301,262$5,054,744$3,930,499$8,386,122
90$12,383,726$5,232,162$3,991,906$9,014,646
91$13,574,388$5,416,060$4,053,157$9,700,511
92$14,884,214$5,606,685$4,114,176$10,449,358
93$16,325,287$5,804,297$4,174,885$11,267,398
94$17,910,921$6,009,162$4,235,198$12,161,471
95$19,655,784$6,221,560$4,295,026$13,139,103
96$21,576,038$6,441,780$4,354,274$14,208,585
97$23,689,493$6,670,126$4,412,840$15,379,044
98$26,015,769$6,906,910$4,470,618$16,660,529
99$28,576,489$7,152,460$4,527,496$18,064,108
100$31,395,477$7,407,117$4,583,352$19,601,970