Can I retire at age 65 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$244,434$242,257$240,132$238,059$236,035$231,553
2 years$121,007$118,753$116,569$114,451$112,397$107,900
3 years$79,870$77,607$75,428$73,330$71,310$66,936
4 years$59,306$57,049$54,892$52,830$50,859$46,643
5 years$46,970$44,727$42,599$40,579$38,662$34,616
6 years$38,749$36,523$34,426$32,451$30,592$26,720
7 years$32,879$30,672$28,608$26,680$24,879$21,183
8 years$28,479$26,292$24,262$22,381$20,640$17,118
9 years$25,058$22,892$20,897$19,064$17,382$14,032
10 years$22,323$20,178$18,218$16,433$14,810$11,629
11 years$20,087$17,963$16,039$14,302$12,737$9,722
12 years$18,225$16,123$14,234$12,545$11,038$8,183
13 years$16,650$14,570$12,717$11,075$9,625$6,927
14 years$15,302$13,244$11,427$9,831$8,437$5,891
15 years$14,135$12,099$10,317$8,768$7,429$5,029
16 years$13,114$11,100$9,354$7,850$6,566$4,306
17 years$12,214$10,223$8,511$7,054$5,822$3,698
18 years$11,416$9,446$7,770$6,357$5,176$3,182
19 years$10,702$8,755$7,113$5,744$4,614$2,744
20 years$10,060$8,135$6,528$5,202$4,121$2,370
21 years$9,480$7,578$6,004$4,721$3,688$2,050
22 years$8,954$7,074$5,534$4,293$3,306$1,775
23 years$8,474$6,616$5,110$3,909$2,967$1,538
24 years$8,035$6,199$4,726$3,566$2,667$1,335
25 years$7,631$5,817$4,377$3,256$2,400$1,159
26 years$7,260$5,467$4,059$2,977$2,162$1,007
27 years$6,916$5,145$3,769$2,725$1,949$875
28 years$6,597$4,848$3,504$2,497$1,759$761
29 years$6,301$4,574$3,261$2,290$1,588$662
30 years$6,025$4,319$3,037$2,101$1,435$577
31 years$5,768$4,083$2,832$1,930$1,297$502
32 years$5,527$3,864$2,642$1,774$1,173$437
33 years$5,301$3,659$2,467$1,631$1,062$381
34 years$5,089$3,468$2,305$1,501$962$332
35 years$4,889$3,289$2,155$1,382$871$289
36 years$4,701$3,122$2,016$1,272$789$252
37 years$4,524$2,965$1,887$1,172$715$220
38 years$4,356$2,818$1,767$1,081$648$192
39 years$4,197$2,680$1,655$996$588$167
40 years$4,047$2,549$1,552$919$533$146
41 years$3,904$2,427$1,455$848$484$127
42 years$3,769$2,311$1,365$782$439$111
43 years$3,640$2,202$1,281$722$398$97
44 years$3,517$2,099$1,202$667$362$84
45 years$3,400$2,002$1,129$616$328$74
46 years$3,288$1,909$1,060$569$298$64
47 years$3,182$1,822$996$526$271$56
48 years$3,080$1,740$936$486$246$49
49 years$2,983$1,661$880$449$223$43
50 years$2,890$1,587$827$415$203$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $2,960,000, adding $3,438 every year, while hoping to spend $59,898 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: 32/50/18 Blend
64$2,960,000$2,960,000$2,960,000$2,960,000
65$3,265,466$3,108,586$3,062,706$3,351,519
66$3,534,813$3,197,176$3,101,576$3,504,447
67$3,829,625$3,288,099$3,139,740$3,663,326
68$4,152,438$3,381,407$3,177,112$3,833,185
69$4,506,041$3,477,150$3,213,600$4,015,020
70$4,893,509$3,575,382$3,249,107$4,209,924
71$5,318,225$3,676,155$3,283,531$4,419,099
72$5,783,919$3,779,521$3,316,764$4,643,867
73$6,294,695$3,885,534$3,348,692$4,885,683
74$6,855,076$3,994,247$3,379,195$5,146,148
75$7,470,043$4,105,714$3,408,147$5,427,023
76$8,145,082$4,219,989$3,435,416$5,730,246
77$8,886,239$4,337,127$3,460,860$6,057,953
78$9,700,169$4,457,180$3,484,333$6,412,490
79$10,594,208$4,580,203$3,505,679$6,796,445
80$11,576,434$4,706,250$3,524,737$7,212,664
81$12,655,748$4,835,374$3,541,333$7,664,282
82$13,841,956$4,967,629$3,555,289$8,154,752
83$15,145,859$5,103,067$3,566,415$8,687,875
84$16,579,360$5,241,740$3,574,513$9,267,840
85$18,155,568$5,383,699$3,579,373$9,899,258
86$19,888,932$5,528,996$3,580,777$10,587,209
87$21,795,365$5,677,679$3,578,496$11,337,290
88$23,892,404$5,829,797$3,572,288$12,155,664
89$26,199,370$5,985,397$3,561,899$13,049,123
90$28,737,549$6,144,525$3,547,066$14,025,148
91$31,530,396$6,307,224$3,527,510$15,091,982
92$34,603,755$6,473,537$3,502,940$16,258,707
93$37,986,100$6,643,502$3,473,051$17,535,328
94$41,708,806$6,817,157$3,437,522$18,932,869
95$45,806,444$6,994,538$3,396,019$20,463,477
96$50,317,107$7,175,675$3,348,190$22,140,538
97$55,282,766$7,360,598$3,293,670$23,978,799
98$60,749,673$7,549,332$3,232,072$25,994,513
99$66,768,788$7,741,897$3,162,994$28,205,586
100$73,396,266$7,938,312$3,086,016$30,631,752