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%16.7%
1 years$162,681$161,232$159,818$158,438$157,091$152,797
2 years$80,535$79,035$77,582$76,172$74,805$70,511
3 years$53,157$51,650$50,200$48,804$47,459$43,299
4 years$39,470$37,968$36,533$35,161$33,848$29,854
5 years$31,260$29,768$28,351$27,007$25,731$21,913
6 years$25,789$24,308$22,912$21,598$20,360$16,722
7 years$21,883$20,413$19,040$17,757$16,558$13,101
8 years$18,954$17,498$16,147$14,896$13,737$10,458
9 years$16,677$15,235$13,908$12,688$11,568$8,465
10 years$14,857$13,429$12,125$10,937$9,857$6,925
11 years$13,369$11,955$10,675$9,518$8,477$5,712
12 years$12,129$10,730$9,474$8,349$7,346$4,743
13 years$11,082$9,697$8,464$7,371$6,406$3,959
14 years$10,184$8,814$7,605$6,543$5,615$3,318
15 years$9,407$8,052$6,866$5,835$4,944$2,792
16 years$8,728$7,388$6,225$5,225$4,370$2,355
17 years$8,129$6,804$5,665$4,694$3,875$1,992
18 years$7,598$6,287$5,171$4,231$3,445$1,688
19 years$7,122$5,827$4,734$3,823$3,071$1,433
20 years$6,695$5,414$4,345$3,462$2,743$1,218
21 years$6,310$5,043$3,996$3,142$2,454$1,037
22 years$5,959$4,708$3,683$2,857$2,200$883
23 years$5,640$4,403$3,401$2,602$1,975$753
24 years$5,347$4,125$3,145$2,373$1,775$643
25 years$5,079$3,871$2,913$2,167$1,597$549
26 years$4,831$3,639$2,702$1,982$1,439$469
27 years$4,603$3,424$2,509$1,814$1,297$401
28 years$4,391$3,227$2,332$1,662$1,170$342
29 years$4,194$3,044$2,170$1,524$1,057$293
30 years$4,010$2,875$2,022$1,399$955$251
31 years$3,839$2,718$1,885$1,285$863$214
32 years$3,678$2,571$1,758$1,180$781$184
33 years$3,528$2,435$1,642$1,086$707$157
34 years$3,387$2,308$1,534$999$640$134
35 years$3,254$2,189$1,434$919$580$115
36 years$3,129$2,078$1,342$847$525$99
37 years$3,011$1,973$1,256$780$476$84
38 years$2,899$1,875$1,176$719$432$72
39 years$2,793$1,783$1,102$663$391$62
40 years$2,693$1,697$1,033$612$355$53
41 years$2,598$1,615$968$564$322$45
42 years$2,508$1,538$908$521$292$39
43 years$2,422$1,466$852$481$265$33
44 years$2,341$1,397$800$444$241$29
45 years$2,263$1,332$751$410$219$24
46 years$2,189$1,271$706$379$198$21
47 years$2,118$1,213$663$350$180$18
48 years$2,050$1,158$623$323$164$15
49 years$1,985$1,106$586$299$149$13
50 years$1,923$1,056$550$276$135$11

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 $3,561 every year, while hoping to spend $53,851 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: 73/18/9 Blend
63$1,970,000$1,970,000$1,970,000$1,970,000
64$2,174,613$2,070,203$2,039,668$2,329,688
65$2,339,127$2,114,346$2,050,700$2,476,655
66$2,518,616$2,158,847$2,060,297$2,630,498
67$2,714,551$2,203,667$2,068,353$2,797,493
68$2,928,551$2,248,763$2,074,759$2,978,924
69$3,162,398$2,294,087$2,079,398$3,176,205
70$3,418,055$2,339,590$2,082,150$3,390,895
71$3,697,681$2,385,214$2,082,886$3,624,708
72$4,003,655$2,430,900$2,081,474$3,879,534
73$4,338,596$2,476,582$2,077,771$4,157,455
74$4,705,387$2,522,189$2,071,631$4,460,765
75$5,107,205$2,567,645$2,062,899$4,791,988
76$5,547,548$2,612,867$2,051,414$5,153,909
77$6,030,267$2,657,767$2,037,005$5,549,594
78$6,559,604$2,702,248$2,019,495$5,982,421
79$7,140,233$2,746,207$1,998,698$6,456,113
80$7,777,300$2,789,534$1,974,417$6,974,770
81$8,476,474$2,832,110$1,946,449$7,542,913
82$9,243,999$2,873,808$1,914,580$8,165,522
83$10,086,753$2,914,492$1,878,585$8,848,082
84$11,012,315$2,954,014$1,838,230$9,596,640
85$12,029,030$2,992,220$1,793,270$10,417,859
86$13,146,094$3,028,942$1,743,447$11,319,082
87$14,373,636$3,064,001$1,688,494$12,308,398
88$15,722,818$3,097,207$1,628,129$13,394,724
89$17,205,932$3,128,358$1,562,058$14,587,884
90$18,836,525$3,157,235$1,489,975$15,898,706
91$20,629,520$3,183,608$1,411,558$17,339,123
92$22,601,357$3,207,231$1,326,472$18,922,282
93$24,770,152$3,227,842$1,234,365$20,662,675
94$27,155,863$3,245,162$1,134,872$22,576,271
95$29,780,480$3,258,894$1,027,609$24,680,669
96$32,668,231$3,268,722$912,176$26,995,263
97$35,845,813$3,274,312$788,156$29,541,428
98$39,342,638$3,275,306$655,112$32,342,717
99$43,191,118$3,271,326$512,589$35,425,090
100$47,426,961$3,261,970$360,110$38,817,154