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

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$161,855$160,413$159,007$157,634$156,293$155,308
2 years$80,126$78,634$77,188$75,785$74,425$73,432
3 years$52,887$51,388$49,946$48,556$47,218$46,247
4 years$39,270$37,776$36,348$34,982$33,677$32,735
5 years$31,102$29,617$28,207$26,870$25,600$24,691
6 years$25,658$24,184$22,796$21,488$20,257$19,381
7 years$21,771$20,310$18,943$17,666$16,474$15,633
8 years$18,858$17,409$16,065$14,820$13,667$12,859
9 years$16,593$15,158$13,837$12,623$11,510$10,736
10 years$14,782$13,361$12,064$10,881$9,807$9,066
11 years$13,301$11,894$10,621$9,470$8,434$7,727
12 years$12,068$10,676$9,425$8,307$7,309$6,634
13 years$11,025$9,648$8,421$7,333$6,373$5,730
14 years$10,132$8,770$7,566$6,510$5,587$4,975
15 years$9,359$8,011$6,831$5,806$4,919$4,337
16 years$8,684$7,350$6,194$5,198$4,348$3,795
17 years$8,088$6,769$5,636$4,671$3,855$3,330
18 years$7,559$6,255$5,145$4,209$3,428$2,930
19 years$7,086$5,797$4,710$3,803$3,055$2,584
20 years$6,661$5,387$4,323$3,445$2,729$2,284
21 years$6,278$5,018$3,976$3,126$2,442$2,022
22 years$5,929$4,684$3,664$2,842$2,189$1,792
23 years$5,611$4,381$3,383$2,589$1,965$1,591
24 years$5,320$4,104$3,129$2,361$1,766$1,414
25 years$5,053$3,852$2,898$2,156$1,589$1,258
26 years$4,807$3,620$2,688$1,972$1,431$1,120
27 years$4,579$3,407$2,496$1,805$1,291$998
28 years$4,368$3,210$2,320$1,653$1,165$890
29 years$4,172$3,029$2,159$1,516$1,052$794
30 years$3,990$2,860$2,011$1,392$950$709
31 years$3,819$2,704$1,875$1,278$859$633
32 years$3,660$2,558$1,749$1,174$777$566
33 years$3,510$2,423$1,633$1,080$703$506
34 years$3,370$2,296$1,526$994$637$452
35 years$3,237$2,178$1,427$915$577$405
36 years$3,113$2,067$1,335$843$522$362
37 years$2,995$1,963$1,249$776$474$324
38 years$2,884$1,866$1,170$715$429$290
39 years$2,779$1,774$1,096$660$389$260
40 years$2,680$1,688$1,027$608$353$233
41 years$2,585$1,607$963$561$320$208
42 years$2,495$1,530$904$518$291$187
43 years$2,410$1,458$848$478$264$167
44 years$2,329$1,390$796$442$239$150
45 years$2,251$1,325$747$408$217$134
46 years$2,178$1,264$702$377$197$120
47 years$2,107$1,207$660$348$179$108
48 years$2,040$1,152$620$322$163$97
49 years$1,975$1,100$583$297$148$87
50 years$1,914$1,051$548$275$134$78

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 $3,627 every year, while hoping to spend $23,242 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: 39/49/12 Blend
63$1,960,000$1,960,000$1,960,000$1,960,000
64$2,163,661$2,059,781$2,029,401$2,240,079
65$2,359,625$2,135,981$2,072,657$2,370,763
66$2,574,799$2,215,136$2,116,583$2,509,427
67$2,811,117$2,297,366$2,161,176$2,658,844
68$3,070,710$2,382,796$2,206,435$2,819,993
69$3,355,927$2,471,558$2,252,355$2,993,951
70$3,669,354$2,563,787$2,298,932$3,181,899
71$4,013,841$2,659,625$2,346,159$3,385,133
72$4,392,527$2,759,221$2,394,030$3,605,079
73$4,808,872$2,862,730$2,442,537$3,843,301
74$5,266,685$2,970,312$2,491,670$4,101,520
75$5,770,166$3,082,136$2,541,420$4,381,624
76$6,323,939$3,198,378$2,591,774$4,685,691
77$6,933,102$3,319,219$2,642,719$5,016,003
78$7,603,269$3,444,851$2,694,241$5,375,070
79$8,340,627$3,575,474$2,746,323$5,765,652
80$9,151,994$3,711,294$2,798,947$6,190,782
81$10,044,879$3,852,529$2,852,093$6,653,798
82$11,027,559$3,999,406$2,905,741$7,158,370
83$12,109,153$4,152,159$2,959,866$7,708,536
84$13,299,707$4,311,036$3,014,443$8,308,738
85$14,610,295$4,476,294$3,069,444$8,963,863
86$16,053,113$4,648,201$3,124,838$9,679,288
87$17,641,605$4,827,038$3,180,595$10,460,930
88$19,390,582$5,013,096$3,236,678$11,315,301
89$21,316,366$5,206,681$3,293,051$12,249,568
90$23,436,939$5,408,113$3,349,672$13,271,619
91$25,772,119$5,617,723$3,406,498$14,390,137
92$28,343,743$5,835,859$3,463,484$15,614,679
93$31,175,873$6,062,884$3,520,579$16,955,768
94$34,295,024$6,299,177$3,577,730$18,424,987
95$37,730,413$6,545,134$3,634,881$20,035,091
96$41,514,237$6,801,167$3,691,971$21,800,121
97$45,681,973$7,067,708$3,748,936$23,735,538
98$50,272,717$7,345,209$3,805,709$25,858,370
99$55,329,550$7,634,139$3,862,215$28,187,363
100$60,899,943$7,934,991$3,918,378$30,743,165