Can I retire at age 66 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$238,653$236,528$234,454$232,429$230,453$224,882
2 years$118,145$115,945$113,812$111,745$109,739$104,160
3 years$77,981$75,771$73,644$71,596$69,623$64,210
4 years$57,903$55,700$53,594$51,581$49,656$44,451
5 years$45,859$43,669$41,591$39,619$37,748$32,765
6 years$37,833$35,659$33,612$31,684$29,868$25,113
7 years$32,102$29,947$27,932$26,049$24,291$19,763
8 years$27,805$25,670$23,688$21,852$20,152$15,850
9 years$24,466$22,350$20,403$18,613$16,971$12,892
10 years$21,795$19,701$17,788$16,044$14,460$10,599
11 years$19,612$17,538$15,660$13,964$12,436$8,788
12 years$17,794$15,741$13,898$12,248$10,777$7,335
13 years$16,257$14,226$12,417$10,813$9,398$6,155
14 years$14,940$12,931$11,156$9,599$8,238$5,188
15 years$13,800$11,812$10,073$8,560$7,253$4,389
16 years$12,804$10,838$9,132$7,665$6,410$3,724
17 years$11,925$9,981$8,310$6,887$5,684$3,168
18 years$11,146$9,223$7,586$6,206$5,054$2,701
19 years$10,449$8,548$6,945$5,608$4,505$2,306
20 years$9,822$7,943$6,374$5,079$4,024$1,972
21 years$9,256$7,399$5,862$4,610$3,601$1,689
22 years$8,742$6,906$5,403$4,191$3,228$1,448
23 years$8,274$6,459$4,989$3,817$2,897$1,242
24 years$7,845$6,052$4,614$3,481$2,604$1,067
25 years$7,451$5,679$4,273$3,179$2,343$917
26 years$7,088$5,338$3,963$2,907$2,111$788
27 years$6,752$5,024$3,680$2,661$1,903$678
28 years$6,441$4,734$3,421$2,438$1,717$584
29 years$6,152$4,466$3,184$2,236$1,551$502
30 years$5,883$4,217$2,966$2,052$1,401$433
31 years$5,631$3,987$2,765$1,884$1,267$373
32 years$5,396$3,772$2,580$1,732$1,146$321
33 years$5,176$3,572$2,409$1,593$1,037$277
34 years$4,968$3,386$2,250$1,465$939$238
35 years$4,774$3,211$2,104$1,349$850$206
36 years$4,590$3,048$1,968$1,242$770$177
37 years$4,417$2,895$1,842$1,145$698$153
38 years$4,253$2,751$1,725$1,055$633$132
39 years$4,098$2,616$1,616$973$574$114
40 years$3,951$2,489$1,515$897$521$98
41 years$3,812$2,369$1,421$828$472$85
42 years$3,679$2,257$1,332$764$429$73
43 years$3,554$2,150$1,250$705$389$63
44 years$3,434$2,049$1,174$651$353$54
45 years$3,320$1,954$1,102$601$321$47
46 years$3,211$1,864$1,035$555$291$40
47 years$3,107$1,779$972$513$264$35
48 years$3,007$1,698$914$474$240$30
49 years$2,913$1,622$859$438$218$26
50 years$2,822$1,549$808$405$198$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,890,000, adding $2,488 every year, while hoping to spend $26,952 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: 64/8/28 Blend
65$2,890,000$2,890,000$2,890,000$2,890,000
66$3,187,346$3,034,176$2,989,381$3,367,465
67$3,483,779$3,154,174$3,060,849$3,609,740
68$3,809,544$3,279,149$3,133,807$3,871,167
69$4,167,606$3,409,315$3,208,278$4,156,248
70$4,561,229$3,544,899$3,284,282$4,467,310
71$4,994,010$3,686,135$3,361,842$4,806,917
72$5,469,912$3,833,268$3,440,976$5,177,889
73$5,993,301$3,986,557$3,521,707$5,583,333
74$6,568,988$4,146,268$3,604,055$6,026,672
75$7,202,273$4,312,683$3,688,038$6,511,672
76$7,898,995$4,486,094$3,773,678$7,042,482
77$8,665,588$4,666,809$3,860,992$7,623,671
78$9,509,142$4,855,147$3,949,999$8,260,272
79$10,437,468$5,051,443$4,040,718$8,957,827
80$11,459,173$5,256,046$4,133,165$9,722,441
81$12,583,740$5,469,324$4,227,357$10,560,837
82$13,821,618$5,691,657$4,323,310$11,480,422
83$15,184,321$5,923,447$4,421,039$12,489,355
84$16,684,537$6,165,110$4,520,558$13,596,623
85$18,336,244$6,417,084$4,621,881$14,812,126
86$20,154,846$6,679,827$4,725,020$16,146,769
87$22,157,317$6,953,816$4,829,985$17,612,568
88$24,362,361$7,239,550$4,936,787$19,222,758
89$26,790,587$7,537,553$5,045,434$20,991,922
90$29,464,704$7,848,370$5,155,934$22,936,124
91$32,409,738$8,172,575$5,268,292$25,073,064
92$35,653,264$8,510,764$5,382,512$27,422,242
93$39,225,668$8,863,562$5,498,597$30,005,141
94$43,160,434$9,231,625$5,616,548$32,845,432
95$47,494,460$9,615,636$5,736,364$35,969,196
96$52,268,403$10,016,310$5,858,041$39,405,167
97$57,527,068$10,434,397$5,981,573$43,185,007
98$63,319,827$10,870,680$6,106,953$47,343,599
99$69,701,084$11,325,978$6,234,171$51,919,380
100$76,730,792$11,801,149$6,363,214$56,954,703