Can I retire at age 67 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$242,782$240,620$238,510$236,451$234,440$233,060
2 years$120,189$117,951$115,782$113,678$111,638$110,246
3 years$79,330$77,082$74,918$72,835$70,828$69,467
4 years$58,905$56,664$54,521$52,473$50,515$49,195
5 years$46,653$44,425$42,311$40,305$38,401$37,126
6 years$38,487$36,276$34,193$32,232$30,385$29,157
7 years$32,657$30,465$28,415$26,500$24,711$23,531
8 years$28,287$26,114$24,098$22,230$20,500$19,368
9 years$24,889$22,737$20,756$18,935$17,264$16,179
10 years$22,172$20,041$18,095$16,322$14,710$13,671
11 years$19,951$17,842$15,931$14,205$12,651$11,658
12 years$18,102$16,014$14,138$12,460$10,963$10,016
13 years$16,538$14,472$12,632$11,000$9,560$8,657
14 years$15,199$13,154$11,349$9,765$8,380$7,520
15 years$14,039$12,017$10,247$8,708$7,379$6,560
16 years$13,025$11,025$9,290$7,797$6,521$5,744
17 years$12,132$10,154$8,454$7,006$5,782$5,045
18 years$11,338$9,383$7,717$6,314$5,141$4,442
19 years$10,629$8,696$7,065$5,705$4,583$3,920
20 years$9,992$8,080$6,484$5,167$4,093$3,467
21 years$9,416$7,527$5,964$4,689$3,663$3,071
22 years$8,893$7,026$5,497$4,264$3,283$2,725
23 years$8,417$6,571$5,075$3,883$2,947$2,420
24 years$7,981$6,157$4,694$3,542$2,649$2,153
25 years$7,580$5,778$4,347$3,234$2,384$1,916
26 years$7,210$5,430$4,032$2,957$2,147$1,708
27 years$6,869$5,110$3,744$2,707$1,936$1,523
28 years$6,553$4,816$3,480$2,480$1,747$1,359
29 years$6,259$4,543$3,239$2,274$1,577$1,214
30 years$5,985$4,290$3,017$2,087$1,425$1,084
31 years$5,729$4,056$2,813$1,917$1,289$969
32 years$5,489$3,838$2,624$1,762$1,166$867
33 years$5,265$3,634$2,450$1,620$1,055$776
34 years$5,054$3,444$2,289$1,491$955$694
35 years$4,856$3,267$2,140$1,372$865$621
36 years$4,669$3,101$2,002$1,264$784$557
37 years$4,493$2,945$1,874$1,164$710$499
38 years$4,327$2,799$1,755$1,073$644$447
39 years$4,169$2,661$1,644$990$584$400
40 years$4,019$2,532$1,541$913$530$359
41 years$3,878$2,410$1,445$842$481$322
42 years$3,743$2,296$1,356$777$436$288
43 years$3,615$2,187$1,272$717$396$259
44 years$3,493$2,085$1,194$662$359$232
45 years$3,377$1,988$1,121$612$326$208
46 years$3,266$1,897$1,053$565$296$187
47 years$3,161$1,810$989$522$269$167
48 years$3,060$1,728$930$482$244$150
49 years$2,963$1,650$874$446$222$135
50 years$2,870$1,576$821$412$201$121

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,940,000, adding $2,459 every year, while hoping to spend $46,379 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: 67/18/15 Blend
66$2,940,000$2,940,000$2,940,000$2,940,000
67$3,242,416$3,086,596$3,041,026$3,448,044
68$3,523,796$3,188,493$3,093,554$3,687,445
69$3,832,322$3,293,828$3,146,287$3,943,434
70$4,170,714$3,402,720$3,199,183$4,222,175
71$4,541,968$3,515,295$3,252,197$4,525,898
72$4,949,384$3,631,680$3,305,281$4,857,055
73$5,396,597$3,752,008$3,358,383$5,218,347
74$5,887,611$3,876,417$3,411,449$5,612,748
75$6,426,835$4,005,049$3,464,421$6,043,534
76$7,019,129$4,138,054$3,517,236$6,514,308
77$7,669,845$4,275,583$3,569,828$7,029,043
78$8,384,879$4,417,796$3,622,127$7,592,110
79$9,170,727$4,564,858$3,674,058$8,208,326
80$10,034,544$4,716,940$3,725,543$8,882,995
81$10,984,216$4,874,219$3,776,497$9,621,957
82$12,028,429$5,036,877$3,826,832$10,431,648
83$13,176,751$5,205,107$3,876,453$11,319,155
84$14,439,727$5,379,104$3,925,262$12,292,285
85$15,828,973$5,559,075$3,973,152$13,359,637
86$17,357,289$5,745,230$4,020,013$14,530,685
87$19,038,776$5,937,790$4,065,728$15,815,864
88$20,888,973$6,136,984$4,110,172$17,226,670
89$22,925,000$6,343,047$4,153,214$18,775,769
90$25,165,720$6,556,227$4,194,716$20,477,114
91$27,631,918$6,776,777$4,234,534$22,346,076
92$30,346,496$7,004,961$4,272,514$24,399,592
93$33,334,689$7,241,055$4,308,493$26,656,321
94$36,624,303$7,485,341$4,342,303$29,136,819
95$40,245,975$7,738,117$4,373,764$31,863,737
96$44,233,467$7,999,687$4,402,687$34,862,030
97$48,623,979$8,270,370$4,428,875$38,159,195
98$53,458,502$8,550,495$4,452,120$41,785,528
99$58,782,204$8,840,405$4,472,201$45,774,408
100$64,644,859$9,140,455$4,488,890$50,162,618