Can I retire at age 64 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$162,681$161,232$159,818$158,438$157,091$155,905
2 years$80,535$79,035$77,582$76,172$74,805$73,609
3 years$53,157$51,650$50,200$48,804$47,459$46,291
4 years$39,470$37,968$36,533$35,161$33,848$32,716
5 years$31,260$29,768$28,351$27,007$25,731$24,639
6 years$25,789$24,308$22,912$21,598$20,360$19,309
7 years$21,883$20,413$19,040$17,757$16,558$15,548
8 years$18,954$17,498$16,147$14,896$13,737$12,768
9 years$16,677$15,235$13,908$12,688$11,568$10,641
10 years$14,857$13,429$12,125$10,937$9,857$8,970
11 years$13,369$11,955$10,675$9,518$8,477$7,631
12 years$12,129$10,730$9,474$8,349$7,346$6,539
13 years$11,082$9,697$8,464$7,371$6,406$5,638
14 years$10,184$8,814$7,605$6,543$5,615$4,885
15 years$9,407$8,052$6,866$5,835$4,944$4,250
16 years$8,728$7,388$6,225$5,225$4,370$3,711
17 years$8,129$6,804$5,665$4,694$3,875$3,250
18 years$7,598$6,287$5,171$4,231$3,445$2,854
19 years$7,122$5,827$4,734$3,823$3,071$2,511
20 years$6,695$5,414$4,345$3,462$2,743$2,214
21 years$6,310$5,043$3,996$3,142$2,454$1,956
22 years$5,959$4,708$3,683$2,857$2,200$1,730
23 years$5,640$4,403$3,401$2,602$1,975$1,532
24 years$5,347$4,125$3,145$2,373$1,775$1,359
25 years$5,079$3,871$2,913$2,167$1,597$1,206
26 years$4,831$3,639$2,702$1,982$1,439$1,071
27 years$4,603$3,424$2,509$1,814$1,297$952
28 years$4,391$3,227$2,332$1,662$1,170$847
29 years$4,194$3,044$2,170$1,524$1,057$754
30 years$4,010$2,875$2,022$1,399$955$672
31 years$3,839$2,718$1,885$1,285$863$598
32 years$3,678$2,571$1,758$1,180$781$533
33 years$3,528$2,435$1,642$1,086$707$476
34 years$3,387$2,308$1,534$999$640$424
35 years$3,254$2,189$1,434$919$580$379
36 years$3,129$2,078$1,342$847$525$338
37 years$3,011$1,973$1,256$780$476$302
38 years$2,899$1,875$1,176$719$432$269
39 years$2,793$1,783$1,102$663$391$241
40 years$2,693$1,697$1,033$612$355$215
41 years$2,598$1,615$968$564$322$192
42 years$2,508$1,538$908$521$292$171
43 years$2,422$1,466$852$481$265$153
44 years$2,341$1,397$800$444$241$137
45 years$2,263$1,332$751$410$219$122
46 years$2,189$1,271$706$379$198$109
47 years$2,118$1,213$663$350$180$98
48 years$2,050$1,158$623$323$164$87
49 years$1,985$1,106$586$299$149$78
50 years$1,923$1,056$550$276$135$70

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,970,000, adding $4,042 every year, while hoping to spend $43,807 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: 49/26/25 Blend
63$1,970,000$1,970,000$1,970,000$1,970,000
64$2,175,109$2,070,699$2,040,164$2,266,109
65$2,350,360$2,125,553$2,061,900$2,384,928
66$2,542,018$2,181,627$2,082,895$2,509,242
67$2,751,711$2,238,934$2,103,079$2,643,425
68$2,981,231$2,297,486$2,122,377$2,788,427
69$3,232,550$2,357,296$2,140,710$2,945,298
70$3,507,841$2,418,375$2,157,995$3,115,193
71$3,809,497$2,480,732$2,174,144$3,299,383
72$4,140,154$2,544,376$2,189,066$3,499,271
73$4,502,714$2,609,315$2,202,664$3,716,400
74$4,900,373$2,675,554$2,214,836$3,952,473
75$5,336,653$2,743,097$2,225,474$4,209,364
76$5,815,431$2,811,948$2,234,467$4,489,139
77$6,340,979$2,882,108$2,241,696$4,794,074
78$6,918,003$2,953,575$2,247,036$5,126,678
79$7,551,686$3,026,347$2,250,359$5,489,717
80$8,247,738$3,100,418$2,251,526$5,886,236
81$9,012,449$3,175,781$2,250,394$6,319,593
82$9,852,749$3,252,425$2,246,813$6,793,488
83$10,776,273$3,330,336$2,240,624$7,312,000
84$11,791,430$3,409,500$2,231,662$7,879,623
85$12,907,486$3,489,896$2,219,753$8,501,309
86$14,134,650$3,571,501$2,204,715$9,182,519
87$15,484,169$3,654,289$2,186,357$9,929,268
88$16,968,433$3,738,229$2,164,480$10,748,189
89$18,601,097$3,823,285$2,138,873$11,646,590
90$20,397,201$3,909,418$2,109,318$12,632,526
91$22,373,320$3,996,584$2,075,584$13,714,875
92$24,547,714$4,084,733$2,037,433$14,903,422
93$26,940,505$4,173,809$1,994,610$16,208,953
94$29,573,862$4,263,751$1,946,855$17,643,354
95$32,472,212$4,354,490$1,893,891$19,219,725
96$35,662,470$4,445,953$1,835,429$20,952,506
97$39,174,295$4,538,058$1,771,169$22,857,612
98$43,040,365$4,630,715$1,700,795$24,952,582
99$47,296,689$4,723,826$1,623,978$27,256,750
100$51,982,943$4,817,286$1,540,373$29,791,422