Can I retire at age 64 with 1,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$161,855$160,413$159,007$157,634$156,293$155,048
2 years$80,126$78,634$77,188$75,785$74,425$73,171
3 years$52,887$51,388$49,946$48,556$47,218$45,993
4 years$39,270$37,776$36,348$34,982$33,677$32,489
5 years$31,102$29,617$28,207$26,870$25,600$24,455
6 years$25,658$24,184$22,796$21,488$20,257$19,154
7 years$21,771$20,310$18,943$17,666$16,474$15,415
8 years$18,858$17,409$16,065$14,820$13,667$12,652
9 years$16,593$15,158$13,837$12,623$11,510$10,538
10 years$14,782$13,361$12,064$10,881$9,807$8,878
11 years$13,301$11,894$10,621$9,470$8,434$7,548
12 years$12,068$10,676$9,425$8,307$7,309$6,464
13 years$11,025$9,648$8,421$7,333$6,373$5,569
14 years$10,132$8,770$7,566$6,510$5,587$4,822
15 years$9,359$8,011$6,831$5,806$4,919$4,193
16 years$8,684$7,350$6,194$5,198$4,348$3,658
17 years$8,088$6,769$5,636$4,671$3,855$3,202
18 years$7,559$6,255$5,145$4,209$3,428$2,809
19 years$7,086$5,797$4,710$3,803$3,055$2,471
20 years$6,661$5,387$4,323$3,445$2,729$2,177
21 years$6,278$5,018$3,976$3,126$2,442$1,921
22 years$5,929$4,684$3,664$2,842$2,189$1,698
23 years$5,611$4,381$3,383$2,589$1,965$1,503
24 years$5,320$4,104$3,129$2,361$1,766$1,332
25 years$5,053$3,852$2,898$2,156$1,589$1,181
26 years$4,807$3,620$2,688$1,972$1,431$1,048
27 years$4,579$3,407$2,496$1,805$1,291$931
28 years$4,368$3,210$2,320$1,653$1,165$828
29 years$4,172$3,029$2,159$1,516$1,052$736
30 years$3,990$2,860$2,011$1,392$950$655
31 years$3,819$2,704$1,875$1,278$859$583
32 years$3,660$2,558$1,749$1,174$777$519
33 years$3,510$2,423$1,633$1,080$703$463
34 years$3,370$2,296$1,526$994$637$412
35 years$3,237$2,178$1,427$915$577$368
36 years$3,113$2,067$1,335$843$522$328
37 years$2,995$1,963$1,249$776$474$293
38 years$2,884$1,866$1,170$715$429$261
39 years$2,779$1,774$1,096$660$389$233
40 years$2,680$1,688$1,027$608$353$208
41 years$2,585$1,607$963$561$320$185
42 years$2,495$1,530$904$518$291$166
43 years$2,410$1,458$848$478$264$148
44 years$2,329$1,390$796$442$239$132
45 years$2,251$1,325$747$408$217$118
46 years$2,178$1,264$702$377$197$105
47 years$2,107$1,207$660$348$179$94
48 years$2,040$1,152$620$322$163$84
49 years$1,975$1,100$583$297$148$75
50 years$1,914$1,051$548$275$134$67

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,960,000, adding $2,492 every year, while hoping to spend $27,661 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: 58/34/8 Blend
63$1,960,000$1,960,000$1,960,000$1,960,000
64$2,162,490$2,058,610$2,028,230$2,283,894
65$2,353,633$2,130,051$2,066,745$2,437,241
66$2,563,346$2,204,066$2,105,623$2,600,966
67$2,793,493$2,280,750$2,144,847$2,778,735
68$3,046,128$2,360,206$2,184,398$2,971,896
69$3,323,515$2,442,538$2,224,257$3,181,930
70$3,628,145$2,527,855$2,264,402$3,410,469
71$3,962,766$2,616,269$2,304,809$3,659,304
72$4,330,401$2,707,899$2,345,453$3,930,411
73$4,734,383$2,802,867$2,386,307$4,225,959
74$5,178,383$2,901,301$2,427,341$4,548,340
75$5,666,445$3,003,332$2,468,524$4,900,181
76$6,203,025$3,109,098$2,509,823$5,284,378
77$6,793,033$3,218,743$2,551,201$5,704,117
78$7,441,877$3,332,415$2,592,620$6,162,904
79$8,155,514$3,450,270$2,634,039$6,664,601
80$8,940,512$3,572,469$2,675,415$7,213,457
81$9,804,104$3,699,179$2,716,701$7,814,152
82$10,754,259$3,830,575$2,757,847$8,471,838
83$11,799,759$3,966,839$2,798,800$9,192,189
84$12,950,280$4,108,160$2,839,506$9,981,452
85$14,216,483$4,254,734$2,879,903$10,846,507
86$15,610,115$4,406,766$2,919,931$11,794,929
87$17,144,119$4,564,470$2,959,521$12,835,063
88$18,832,757$4,728,067$2,998,603$13,976,097
89$20,691,744$4,897,789$3,037,102$15,228,152
90$22,738,397$5,073,875$3,074,940$16,602,375
91$24,991,795$5,256,577$3,112,032$18,111,044
92$27,472,963$5,446,154$3,148,290$19,767,683
93$30,205,069$5,642,879$3,183,621$21,587,189
94$33,213,640$5,847,034$3,217,927$23,585,971
95$36,526,806$6,058,914$3,251,102$25,782,105
96$40,175,565$6,278,825$3,283,039$28,195,504
97$44,194,072$6,507,087$3,313,620$30,848,104
98$48,619,967$6,744,033$3,342,725$33,764,071
99$53,494,722$6,990,010$3,370,225$36,970,025
100$58,864,041$7,245,378$3,395,986$40,495,298