Can I retire at age 67 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$246,911$244,712$242,566$240,472$238,427$231,072
2 years$122,233$119,957$117,751$115,611$113,537$106,191
3 years$80,679$78,393$76,192$74,073$72,032$64,927
4 years$59,907$57,627$55,449$53,366$51,374$44,562
5 years$47,446$45,180$43,030$40,990$39,054$32,555
6 years$39,142$36,893$34,775$32,780$30,902$24,721
7 years$33,213$30,983$28,898$26,950$25,131$19,268
8 years$28,768$26,558$24,508$22,608$20,849$15,300
9 years$25,312$23,124$21,109$19,257$17,558$12,317
10 years$22,550$20,382$18,403$16,600$14,960$10,019
11 years$20,291$18,145$16,202$14,447$12,866$8,217
12 years$18,410$16,286$14,379$12,672$11,150$6,782
13 years$16,819$14,718$12,846$11,187$9,723$5,627
14 years$15,457$13,378$11,542$9,931$8,523$4,687
15 years$14,278$12,221$10,421$8,856$7,504$3,918
16 years$13,247$11,213$9,448$7,930$6,632$3,285
17 years$12,338$10,326$8,598$7,125$5,881$2,760
18 years$11,531$9,542$7,849$6,421$5,229$2,323
19 years$10,810$8,844$7,185$5,802$4,660$1,959
20 years$10,162$8,218$6,594$5,255$4,163$1,654
21 years$9,576$7,655$6,065$4,769$3,725$1,398
22 years$9,045$7,145$5,590$4,336$3,339$1,182
23 years$8,560$6,683$5,161$3,949$2,997$1,001
24 years$8,116$6,261$4,773$3,602$2,694$848
25 years$7,709$5,876$4,421$3,289$2,424$719
26 years$7,333$5,523$4,100$3,008$2,184$610
27 years$6,986$5,197$3,808$2,753$1,969$517
28 years$6,664$4,897$3,540$2,522$1,777$439
29 years$6,365$4,620$3,294$2,313$1,604$373
30 years$6,086$4,363$3,068$2,123$1,449$317
31 years$5,826$4,125$2,860$1,950$1,310$269
32 years$5,583$3,903$2,669$1,792$1,185$228
33 years$5,355$3,696$2,492$1,648$1,073$194
34 years$5,140$3,503$2,328$1,516$971$165
35 years$4,939$3,323$2,177$1,396$880$140
36 years$4,749$3,154$2,036$1,285$797$119
37 years$4,570$2,995$1,906$1,184$722$101
38 years$4,400$2,846$1,785$1,091$655$86
39 years$4,240$2,707$1,672$1,006$594$73
40 years$4,088$2,575$1,567$928$539$62
41 years$3,944$2,451$1,470$856$489$53
42 years$3,807$2,335$1,379$790$443$45
43 years$3,676$2,224$1,294$730$402$38
44 years$3,553$2,120$1,214$674$365$32
45 years$3,434$2,022$1,140$622$332$28
46 years$3,322$1,929$1,071$575$301$23
47 years$3,214$1,841$1,006$531$273$20
48 years$3,112$1,757$945$491$248$17
49 years$3,013$1,678$889$453$226$14
50 years$2,919$1,603$835$419$205$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $2,990,000, adding $6,371 every year, while hoping to spend $42,443 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: 82/8/10 Blend
66$2,990,000$2,990,000$2,990,000$2,990,000
67$3,301,552$3,143,082$3,096,737$3,566,632
68$3,593,151$3,251,934$3,155,318$3,850,025
69$3,913,071$3,364,697$3,214,440$4,154,820
70$4,264,155$3,481,518$3,274,075$4,488,174
71$4,649,537$3,602,550$3,334,194$4,852,928
72$5,072,666$3,727,952$3,394,766$5,252,210
73$5,537,344$3,857,887$3,455,757$5,689,466
74$6,047,758$3,992,529$3,517,129$6,168,489
75$6,608,520$4,132,054$3,578,845$6,693,460
76$7,224,713$4,276,649$3,640,860$7,268,981
77$7,901,935$4,426,505$3,703,130$7,900,123
78$8,646,353$4,581,824$3,765,605$8,592,470
79$9,464,761$4,742,814$3,828,233$9,352,176
80$10,364,647$4,909,692$3,890,959$10,186,018
81$11,354,257$5,082,683$3,953,722$11,101,461
82$12,442,678$5,262,021$4,016,458$12,106,729
83$13,639,922$5,447,951$4,079,101$13,210,884
84$14,957,020$5,640,727$4,141,577$14,423,907
85$16,406,126$5,840,612$4,203,809$15,756,795
86$18,000,630$6,047,881$4,265,716$17,221,664
87$19,755,287$6,262,821$4,327,211$18,831,862
88$21,686,356$6,485,728$4,388,201$20,602,095
89$23,811,748$6,716,913$4,448,590$22,548,567
90$26,151,202$6,956,697$4,508,273$24,689,130
91$28,726,465$7,205,416$4,567,142$27,043,454
92$31,561,503$7,463,420$4,625,079$29,633,211
93$34,682,720$7,731,071$4,681,963$32,482,280
94$38,119,213$8,008,749$4,737,664$35,616,972
95$41,903,041$8,296,846$4,792,044$39,066,278
96$46,069,534$8,595,774$4,844,960$42,862,141
97$50,657,619$8,905,960$4,896,259$47,039,759
98$55,710,192$9,227,847$4,945,779$51,637,914
99$61,274,520$9,561,901$4,993,352$56,699,343
100$67,402,690$9,908,602$5,038,797$62,271,132