Can I retire at age 64 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$161,029$159,595$158,195$156,829$155,496$154,645
2 years$79,717$78,233$76,794$75,399$74,046$73,188
3 years$52,617$51,126$49,691$48,309$46,978$46,138
4 years$39,070$37,583$36,162$34,804$33,505$32,691
5 years$30,943$29,466$28,063$26,733$25,470$24,684
6 years$25,527$24,061$22,679$21,378$20,153$19,396
7 years$21,660$20,206$18,847$17,576$16,390$15,662
8 years$18,761$17,320$15,983$14,744$13,597$12,898
9 years$16,508$15,081$13,767$12,559$11,451$10,781
10 years$14,706$13,293$12,002$10,826$9,757$9,115
11 years$13,233$11,834$10,566$9,422$8,391$7,778
12 years$12,006$10,621$9,377$8,264$7,271$6,686
13 years$10,969$9,599$8,378$7,296$6,341$5,783
14 years$10,081$8,725$7,528$6,477$5,558$5,027
15 years$9,312$7,970$6,797$5,776$4,894$4,388
16 years$8,639$7,313$6,162$5,172$4,325$3,845
17 years$8,047$6,735$5,607$4,647$3,835$3,379
18 years$7,520$6,223$5,119$4,188$3,410$2,977
19 years$7,050$5,768$4,686$3,784$3,039$2,630
20 years$6,627$5,359$4,300$3,427$2,715$2,327
21 years$6,245$4,992$3,956$3,110$2,430$2,063
22 years$5,899$4,660$3,646$2,828$2,178$1,832
23 years$5,583$4,358$3,366$2,575$1,955$1,628
24 years$5,293$4,084$3,113$2,349$1,757$1,449
25 years$5,027$3,832$2,883$2,145$1,581$1,291
26 years$4,782$3,602$2,674$1,961$1,424$1,151
27 years$4,556$3,390$2,483$1,795$1,284$1,028
28 years$4,346$3,194$2,308$1,645$1,159$918
29 years$4,151$3,013$2,148$1,508$1,046$820
30 years$3,969$2,846$2,001$1,384$945$734
31 years$3,800$2,690$1,865$1,271$855$656
32 years$3,641$2,545$1,741$1,169$773$587
33 years$3,492$2,410$1,625$1,075$700$526
34 years$3,352$2,285$1,518$989$633$471
35 years$3,221$2,167$1,420$910$574$422
36 years$3,097$2,057$1,328$838$520$378
37 years$2,980$1,953$1,243$772$471$339
38 years$2,870$1,856$1,164$712$427$304
39 years$2,765$1,765$1,091$656$387$273
40 years$2,666$1,679$1,022$605$351$245
41 years$2,572$1,599$958$559$319$220
42 years$2,483$1,523$899$515$289$197
43 years$2,398$1,451$844$476$262$177
44 years$2,317$1,383$792$439$238$159
45 years$2,240$1,319$744$406$216$142
46 years$2,166$1,258$698$375$196$128
47 years$2,096$1,200$656$346$178$115
48 years$2,029$1,146$617$320$162$103
49 years$1,965$1,094$580$296$147$93
50 years$1,904$1,045$545$273$134$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,950,000, adding $6,336 every year, while hoping to spend $21,486 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: 45/45/10 Blend
63$1,950,000$1,950,000$1,950,000$1,950,000
64$2,155,436$2,052,086$2,021,861$2,246,061
65$2,352,429$2,129,777$2,066,732$2,387,157
66$2,568,796$2,210,555$2,112,386$2,537,355
67$2,806,489$2,294,548$2,158,828$2,699,729
68$3,067,661$2,381,891$2,206,058$2,875,410
69$3,354,682$2,472,723$2,254,081$3,065,640
70$3,670,164$2,567,191$2,302,897$3,271,785
71$4,016,984$2,665,447$2,352,507$3,495,342
72$4,398,312$2,767,650$2,402,912$3,737,958
73$4,817,642$2,873,966$2,454,111$4,001,446
74$5,278,820$2,984,569$2,506,102$4,287,793
75$5,786,086$3,099,639$2,558,883$4,599,188
76$6,344,111$3,219,366$2,612,450$4,938,036
77$6,958,042$3,343,946$2,666,799$5,306,981
78$7,633,549$3,473,586$2,721,924$5,708,933
79$8,376,880$3,608,501$2,777,817$6,147,091
80$9,194,919$3,748,915$2,834,471$6,624,974
81$10,095,251$3,895,063$2,891,877$7,146,452
82$11,086,235$4,047,189$2,950,023$7,715,786
83$12,177,079$4,205,549$3,008,896$8,337,661
84$13,377,930$4,370,410$3,068,484$9,017,234
85$14,699,970$4,542,051$3,128,769$9,760,180
86$16,155,519$4,720,764$3,189,735$10,572,744
87$17,758,153$4,906,853$3,251,362$11,461,801
88$19,522,831$5,100,635$3,313,629$12,434,916
89$21,466,036$5,302,442$3,376,512$13,500,419
90$23,605,933$5,512,623$3,439,986$14,667,478
91$25,962,535$5,731,539$3,504,023$15,946,185
92$28,557,898$5,959,568$3,568,592$17,347,655
93$31,416,324$6,197,108$3,633,660$18,884,123
94$34,564,594$6,444,570$3,699,192$20,569,060
95$38,032,217$6,702,389$3,765,150$22,417,300
96$41,851,711$6,971,014$3,831,490$24,445,178
97$46,058,911$7,250,919$3,898,170$26,670,683
98$50,693,302$7,542,596$3,965,141$29,113,624
99$55,798,397$7,846,561$4,032,352$31,795,817
100$61,422,144$8,163,354$4,099,747$34,741,288