Can I retire at age 64 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$163,507$162,050$160,629$159,242$157,888$157,157
2 years$80,944$79,436$77,975$76,559$75,185$74,447
3 years$53,427$51,913$50,455$49,052$47,700$46,978
4 years$39,671$38,161$36,718$35,339$34,020$33,320
5 years$31,419$29,919$28,495$27,144$25,862$25,185
6 years$25,920$24,431$23,028$21,707$20,463$19,811
7 years$21,994$20,517$19,137$17,847$16,642$16,014
8 years$19,050$17,587$16,229$14,971$13,806$13,203
9 years$16,762$15,313$13,978$12,752$11,627$11,049
10 years$14,932$13,497$12,187$10,992$9,907$9,353
11 years$13,437$12,016$10,729$9,567$8,520$7,991
12 years$12,191$10,785$9,522$8,391$7,383$6,877
13 years$11,138$9,746$8,507$7,408$6,438$5,956
14 years$10,236$8,859$7,644$6,576$5,644$5,184
15 years$9,455$8,093$6,901$5,865$4,969$4,531
16 years$8,772$7,425$6,257$5,251$4,392$3,976
17 years$8,170$6,838$5,693$4,718$3,894$3,499
18 years$7,636$6,319$5,197$4,252$3,463$3,087
19 years$7,159$5,856$4,758$3,842$3,086$2,731
20 years$6,729$5,442$4,367$3,480$2,757$2,420
21 years$6,342$5,069$4,016$3,158$2,467$2,148
22 years$5,989$4,732$3,702$2,871$2,211$1,910
23 years$5,668$4,425$3,418$2,615$1,985$1,701
24 years$5,375$4,146$3,161$2,385$1,784$1,516
25 years$5,105$3,891$2,928$2,178$1,605$1,353
26 years$4,856$3,657$2,715$1,992$1,446$1,208
27 years$4,626$3,442$2,521$1,823$1,304$1,080
28 years$4,413$3,243$2,344$1,670$1,176$966
29 years$4,215$3,059$2,181$1,532$1,062$865
30 years$4,030$2,889$2,032$1,406$960$775
31 years$3,858$2,731$1,894$1,291$868$694
32 years$3,697$2,584$1,767$1,186$785$622
33 years$3,546$2,448$1,650$1,091$710$558
34 years$3,404$2,320$1,542$1,004$643$501
35 years$3,270$2,200$1,441$924$583$449
36 years$3,145$2,088$1,348$851$528$404
37 years$3,026$1,983$1,262$784$478$362
38 years$2,914$1,885$1,182$723$434$325
39 years$2,808$1,792$1,107$666$393$292
40 years$2,707$1,705$1,038$615$357$263
41 years$2,612$1,623$973$567$324$236
42 years$2,521$1,546$913$523$294$212
43 years$2,435$1,473$857$483$267$191
44 years$2,353$1,404$804$446$242$172
45 years$2,274$1,339$755$412$220$154
46 years$2,200$1,277$709$381$199$139
47 years$2,129$1,219$666$352$181$125
48 years$2,060$1,164$626$325$164$112
49 years$1,995$1,111$588$300$149$101
50 years$1,933$1,061$553$278$136$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,980,000, adding $6,380 every year, while hoping to spend $51,840 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: 50/22/28 Blend
63$1,980,000$1,980,000$1,980,000$1,980,000
64$2,188,541$2,083,601$2,052,911$2,280,343
65$2,356,615$2,130,540$2,066,526$2,392,117
66$2,540,095$2,178,042$2,078,860$2,507,870
67$2,740,497$2,226,079$2,089,815$2,632,675
68$2,959,492$2,274,621$2,099,288$2,767,417
69$3,198,918$2,323,635$2,107,172$2,913,069
70$3,460,798$2,373,084$2,113,352$3,070,705
71$3,747,361$2,422,926$2,117,711$3,241,510
72$4,061,061$2,473,119$2,120,123$3,426,789
73$4,404,599$2,523,611$2,120,458$3,627,982
74$4,780,952$2,574,352$2,118,576$3,846,676
75$5,193,396$2,625,281$2,114,335$4,084,622
76$5,645,539$2,676,338$2,107,583$4,343,750
77$6,141,358$2,727,452$2,098,160$4,626,190
78$6,685,229$2,778,549$2,085,901$4,934,287
79$7,281,974$2,829,550$2,070,631$5,270,630
80$7,936,906$2,880,369$2,052,167$5,638,073
81$8,655,874$2,930,910$2,030,319$6,039,762
82$9,445,323$2,981,075$2,004,884$6,479,169
83$10,312,352$3,030,753$1,975,654$6,960,117
84$11,264,781$3,079,830$1,942,408$7,486,827
85$12,311,227$3,128,179$1,904,916$8,063,950
86$13,461,179$3,175,667$1,862,938$8,696,615
87$14,725,093$3,222,149$1,816,221$9,390,477
88$16,114,490$3,267,471$1,764,501$10,151,772
89$17,642,059$3,311,469$1,707,503$10,987,375
90$19,321,783$3,353,964$1,644,938$11,904,865
91$21,169,066$3,394,770$1,576,505$12,912,600
92$23,200,880$3,433,683$1,501,887$14,019,795
93$25,435,926$3,470,489$1,420,756$15,236,607
94$27,894,805$3,504,958$1,332,767$16,574,236
95$30,600,220$3,536,846$1,237,558$18,045,031
96$33,577,181$3,565,890$1,134,755$19,662,604
97$36,853,248$3,591,813$1,023,964$21,441,962
98$40,458,786$3,614,319$904,774$23,399,650
99$44,427,255$3,633,093$776,756$25,553,907
100$48,795,519$3,647,799$639,462$27,924,839