Can I retire at age 66 with 2,930,000?

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 $2,930,000?

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$241,957$239,801$237,699$235,646$233,642$228,179
2 years$119,781$117,550$115,388$113,292$111,258$105,786
3 years$79,060$76,820$74,664$72,587$70,587$65,275
4 years$58,704$56,471$54,336$52,295$50,343$45,234
5 years$46,494$44,274$42,167$40,167$38,270$33,377
6 years$38,356$36,153$34,077$32,122$30,282$25,610
7 years$32,546$30,361$28,318$26,409$24,627$20,178
8 years$28,190$26,025$24,016$22,154$20,431$16,201
9 years$24,804$22,660$20,685$18,870$17,206$13,193
10 years$22,097$19,973$18,034$16,267$14,660$10,860
11 years$19,884$17,781$15,877$14,157$12,608$9,016
12 years$18,040$15,959$14,090$12,417$10,926$7,535
13 years$16,482$14,423$12,589$10,963$9,528$6,332
14 years$15,147$13,110$11,311$9,731$8,352$5,344
15 years$13,991$11,976$10,212$8,679$7,354$4,528
16 years$12,981$10,988$9,259$7,771$6,499$3,847
17 years$12,091$10,119$8,425$6,982$5,763$3,277
18 years$11,300$9,351$7,691$6,292$5,124$2,798
19 years$10,593$8,666$7,041$5,686$4,567$2,393
20 years$9,958$8,053$6,462$5,149$4,079$2,050
21 years$9,384$7,501$5,944$4,673$3,651$1,758
22 years$8,863$7,002$5,478$4,249$3,272$1,509
23 years$8,388$6,549$5,058$3,870$2,937$1,297
24 years$7,953$6,136$4,678$3,530$2,640$1,116
25 years$7,554$5,758$4,332$3,223$2,376$960
26 years$7,186$5,412$4,018$2,947$2,140$827
27 years$6,846$5,093$3,731$2,698$1,929$712
28 years$6,530$4,799$3,469$2,472$1,741$614
29 years$6,237$4,527$3,228$2,267$1,572$530
30 years$5,964$4,276$3,007$2,080$1,420$457
31 years$5,709$4,042$2,803$1,910$1,284$394
32 years$5,471$3,824$2,615$1,756$1,162$340
33 years$5,247$3,622$2,442$1,615$1,051$294
34 years$5,037$3,433$2,282$1,486$952$253
35 years$4,840$3,256$2,133$1,368$862$219
36 years$4,654$3,090$1,995$1,259$781$189
37 years$4,478$2,935$1,868$1,160$708$163
38 years$4,312$2,789$1,749$1,070$642$141
39 years$4,155$2,652$1,639$986$582$122
40 years$4,006$2,524$1,536$910$528$105
41 years$3,865$2,402$1,440$839$479$91
42 years$3,730$2,288$1,351$775$435$79
43 years$3,603$2,180$1,268$715$394$68
44 years$3,481$2,078$1,190$660$358$59
45 years$3,366$1,981$1,117$610$325$51
46 years$3,255$1,890$1,049$563$295$44
47 years$3,150$1,804$986$520$268$38
48 years$3,049$1,722$926$481$243$33
49 years$2,953$1,644$871$444$221$28
50 years$2,861$1,571$819$411$201$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $2,930,000, adding $4,389 every year, while hoping to spend $32,558 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: 74/11/15 Blend
65$2,930,000$2,930,000$2,930,000$2,930,000
66$3,233,387$3,078,097$3,032,682$3,461,697
67$3,528,551$3,194,283$3,099,636$3,729,548
68$3,852,731$3,315,070$3,167,741$4,018,499
69$4,208,851$3,440,650$3,237,002$4,334,233
70$4,600,135$3,571,222$3,307,422$4,679,400
71$5,030,132$3,706,995$3,379,004$5,056,921
72$5,502,753$3,848,186$3,451,748$5,470,009
73$6,022,307$3,995,021$3,525,655$5,922,205
74$6,593,542$4,147,736$3,600,724$6,417,408
75$7,221,686$4,306,578$3,676,952$6,959,910
76$7,912,503$4,471,806$3,754,334$7,554,439
77$8,672,341$4,643,686$3,832,867$8,206,203
78$9,508,194$4,822,501$3,912,542$8,920,937
79$10,427,769$5,008,543$3,993,352$9,704,959
80$11,439,558$5,202,118$4,075,286$10,565,227
81$12,552,916$5,403,545$4,158,331$11,509,405
82$13,778,152$5,613,158$4,242,474$12,545,937
83$15,126,624$5,831,303$4,327,697$13,684,122
84$16,610,849$6,058,346$4,413,984$14,934,207
85$18,244,615$6,294,665$4,501,313$16,307,477
86$20,043,119$6,540,657$4,589,660$17,816,365
87$22,023,103$6,796,735$4,678,999$19,474,570
88$24,203,017$7,063,332$4,769,302$21,297,182
89$26,603,188$7,340,899$4,860,538$23,300,826
90$29,246,019$7,629,908$4,952,671$25,503,819
91$32,156,191$7,930,851$5,045,664$27,926,339
92$35,360,903$8,244,244$5,139,474$30,590,621
93$38,890,127$8,570,624$5,234,059$33,521,159
94$42,776,888$8,910,552$5,329,367$36,744,945
95$47,057,577$9,264,616$5,425,348$40,291,712
96$51,772,296$9,633,428$5,521,943$44,194,227
97$56,965,234$10,017,630$5,619,092$48,488,588
98$62,685,085$10,417,891$5,716,729$53,214,572
99$68,985,507$10,834,911$5,814,782$58,416,005
100$75,925,627$11,269,421$5,913,176$64,141,180