Can I retire at age 64 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$160,203$158,776$157,384$156,025$154,698$153,917
2 years$79,309$77,832$76,400$75,012$73,666$72,877
3 years$52,347$50,864$49,436$48,061$46,737$45,965
4 years$38,869$37,390$35,977$34,625$33,333$32,585
5 years$30,784$29,314$27,919$26,596$25,339$24,616
6 years$25,396$23,937$22,563$21,269$20,050$19,354
7 years$21,549$20,103$18,750$17,486$16,306$15,636
8 years$18,665$17,232$15,901$14,669$13,527$12,884
9 years$16,423$15,003$13,696$12,494$11,392$10,775
10 years$14,631$13,225$11,940$10,770$9,707$9,116
11 years$13,165$11,773$10,512$9,373$8,348$7,783
12 years$11,945$10,567$9,329$8,222$7,234$6,695
13 years$10,913$9,549$8,335$7,259$6,308$5,794
14 years$10,029$8,680$7,489$6,443$5,530$5,040
15 years$9,264$7,929$6,762$5,746$4,869$4,403
16 years$8,595$7,275$6,130$5,145$4,303$3,860
17 years$8,005$6,700$5,578$4,623$3,816$3,395
18 years$7,482$6,191$5,092$4,166$3,393$2,993
19 years$7,014$5,738$4,662$3,765$3,024$2,646
20 years$6,593$5,332$4,278$3,409$2,701$2,343
21 years$6,213$4,967$3,935$3,094$2,417$2,078
22 years$5,868$4,636$3,627$2,813$2,167$1,847
23 years$5,554$4,336$3,349$2,562$1,945$1,643
24 years$5,266$4,063$3,097$2,337$1,748$1,463
25 years$5,002$3,813$2,869$2,134$1,573$1,305
26 years$4,758$3,583$2,660$1,951$1,417$1,165
27 years$4,533$3,372$2,470$1,786$1,277$1,040
28 years$4,324$3,178$2,297$1,637$1,153$930
29 years$4,130$2,998$2,137$1,501$1,041$832
30 years$3,949$2,831$1,991$1,377$940$744
31 years$3,780$2,676$1,856$1,265$850$666
32 years$3,622$2,532$1,732$1,163$769$597
33 years$3,474$2,398$1,617$1,069$696$535
34 years$3,335$2,273$1,511$984$630$480
35 years$3,204$2,156$1,412$905$571$430
36 years$3,081$2,046$1,321$834$517$386
37 years$2,965$1,943$1,237$768$469$346
38 years$2,855$1,847$1,158$708$425$311
39 years$2,751$1,756$1,085$653$385$279
40 years$2,652$1,671$1,017$602$350$250
41 years$2,559$1,591$954$556$317$225
42 years$2,470$1,515$894$513$288$202
43 years$2,385$1,443$839$473$261$181
44 years$2,305$1,376$788$437$237$163
45 years$2,228$1,312$740$404$215$146
46 years$2,155$1,251$695$373$195$132
47 years$2,086$1,194$653$345$177$118
48 years$2,019$1,140$613$318$161$106
49 years$1,955$1,089$577$294$146$95
50 years$1,894$1,040$542$272$133$86

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,940,000, adding $4,207 every year, while hoping to spend $53,032 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: 44/40/16 Blend
63$1,940,000$1,940,000$1,940,000$1,940,000
64$2,142,220$2,039,400$2,009,330$2,226,411
65$2,304,300$2,082,904$2,020,216$2,329,300
66$2,481,136$2,126,764$2,029,691$2,435,138
67$2,674,175$2,170,939$2,037,649$2,548,719
68$2,885,014$2,215,387$2,043,982$2,670,780
69$3,115,407$2,260,063$2,048,578$2,802,135
70$3,367,288$2,304,915$2,051,314$2,943,680
71$3,642,785$2,349,890$2,052,067$3,096,404
72$3,944,242$2,394,928$2,050,705$3,261,397
73$4,274,239$2,439,964$2,047,088$3,439,859
74$4,635,619$2,484,929$2,041,072$3,633,116
75$5,031,509$2,529,748$2,032,505$3,842,629
76$5,465,356$2,574,339$2,021,228$4,070,007
77$5,940,956$2,618,614$2,007,072$4,317,028
78$6,462,488$2,662,481$1,989,863$4,585,650
79$7,034,556$2,705,837$1,969,418$4,878,031
80$7,662,231$2,748,574$1,945,544$5,196,555
81$8,351,099$2,790,574$1,918,041$5,543,846
82$9,107,312$2,831,713$1,886,696$5,922,801
83$9,937,648$2,871,857$1,851,290$6,336,614
84$10,849,571$2,910,861$1,811,591$6,788,806
85$11,851,307$2,948,573$1,767,359$7,283,261
86$12,951,914$2,984,827$1,718,340$7,824,261
87$14,161,375$3,019,449$1,664,269$8,416,528
88$15,490,684$3,052,251$1,604,871$9,065,271
89$16,951,955$3,083,032$1,539,856$9,776,230
90$18,558,534$3,111,581$1,468,921$10,555,739
91$20,325,125$3,137,669$1,391,750$11,410,779
92$22,267,928$3,161,054$1,308,014$12,349,049
93$24,404,789$3,181,479$1,217,365$13,379,038
94$26,755,375$3,198,669$1,119,444$14,510,106
95$29,341,352$3,212,332$1,013,874$15,752,576
96$32,186,592$3,222,158$900,261$17,117,826
97$35,317,397$3,227,817$778,192$18,618,405
98$38,762,749$3,228,958$647,240$20,268,147
99$42,554,581$3,225,208$506,954$22,082,305
100$46,728,078$3,216,173$356,866$24,077,696