Can I retire at age 64 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$166,810$165,324$163,874$162,459$161,078$156,929
2 years$82,579$81,041$79,551$78,105$76,704$72,552
3 years$54,506$52,961$51,474$50,043$48,664$44,638
4 years$40,472$38,932$37,460$36,053$34,708$30,839
5 years$32,054$30,523$29,071$27,692$26,384$22,684
6 years$26,444$24,925$23,493$22,146$20,877$17,348
7 years$22,438$20,932$19,523$18,207$16,978$13,622
8 years$19,435$17,942$16,557$15,274$14,085$10,899
9 years$17,101$15,622$14,261$13,010$11,862$8,844
10 years$15,234$13,770$12,433$11,214$10,107$7,253
11 years$13,708$12,259$10,946$9,760$8,692$5,998
12 years$12,437$11,003$9,714$8,561$7,533$4,993
13 years$11,363$9,943$8,679$7,558$6,569$4,179
14 years$10,443$9,038$7,798$6,709$5,758$3,513
15 years$9,646$8,256$7,040$5,983$5,070$2,963
16 years$8,949$7,575$6,383$5,357$4,481$2,507
17 years$8,335$6,976$5,808$4,814$3,973$2,127
18 years$7,790$6,447$5,302$4,338$3,532$1,808
19 years$7,303$5,975$4,854$3,920$3,149$1,539
20 years$6,865$5,552$4,455$3,550$2,812$1,312
21 years$6,470$5,171$4,098$3,222$2,517$1,120
22 years$6,110$4,827$3,777$2,929$2,256$957
23 years$5,783$4,515$3,487$2,668$2,025$819
24 years$5,483$4,230$3,225$2,433$1,820$701
25 years$5,208$3,970$2,987$2,222$1,638$600
26 years$4,954$3,731$2,770$2,032$1,475$515
27 years$4,720$3,511$2,572$1,860$1,330$441
28 years$4,502$3,309$2,391$1,704$1,200$378
29 years$4,300$3,121$2,225$1,563$1,084$325
30 years$4,112$2,948$2,073$1,434$979$279
31 years$3,936$2,787$1,932$1,317$885$239
32 years$3,772$2,637$1,803$1,210$801$206
33 years$3,618$2,497$1,683$1,113$725$177
34 years$3,473$2,367$1,573$1,024$656$152
35 years$3,337$2,245$1,471$943$594$130
36 years$3,208$2,131$1,376$868$538$112
37 years$3,087$2,023$1,288$800$488$96
38 years$2,973$1,923$1,206$737$442$83
39 years$2,864$1,829$1,130$680$401$71
40 years$2,762$1,740$1,059$627$364$61
41 years$2,664$1,656$993$579$330$52
42 years$2,572$1,577$931$534$300$45
43 years$2,484$1,503$874$493$272$39
44 years$2,400$1,432$820$455$247$33
45 years$2,320$1,366$770$420$224$29
46 years$2,244$1,303$723$388$203$25
47 years$2,172$1,244$680$359$185$21
48 years$2,102$1,187$639$331$168$18
49 years$2,036$1,134$600$306$152$16
50 years$1,972$1,083$564$283$138$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,020,000, adding $2,118 every year, while hoping to spend $42,298 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: 44/47/9 Blend
63$2,020,000$2,020,000$2,020,000$2,020,000
64$2,228,225$2,121,165$2,089,855$2,320,452
65$2,410,499$2,180,097$2,114,860$2,443,562
66$2,609,947$2,240,499$2,139,286$2,572,423
67$2,828,277$2,302,399$2,163,067$2,711,121
68$3,067,369$2,365,824$2,186,137$2,860,574
69$3,329,291$2,430,800$2,208,423$3,021,794
70$3,616,325$2,497,355$2,229,852$3,195,892
71$3,930,981$2,565,517$2,250,342$3,384,091
72$4,276,024$2,635,310$2,269,812$3,587,738
73$4,654,500$2,706,762$2,288,172$3,808,314
74$5,069,764$2,779,898$2,305,331$4,047,450
75$5,525,511$2,854,744$2,321,190$4,306,942
76$6,025,811$2,931,324$2,335,648$4,588,766
77$6,575,147$3,009,663$2,348,596$4,895,097
78$7,178,459$3,089,783$2,359,920$5,228,332
79$7,841,187$3,171,707$2,369,503$5,591,108
80$8,569,324$3,255,458$2,377,218$5,986,332
81$9,369,475$3,341,054$2,382,934$6,417,202
82$10,248,912$3,428,517$2,386,513$6,887,244
83$11,215,650$3,517,863$2,387,810$7,400,337
84$12,278,518$3,609,110$2,386,673$7,960,758
85$13,447,243$3,702,272$2,382,943$8,573,215
86$14,732,541$3,797,363$2,376,451$9,242,897
87$16,146,221$3,894,395$2,367,023$9,975,517
88$17,701,292$3,993,376$2,354,474$10,777,372
89$19,412,086$4,094,315$2,338,612$11,655,398
90$21,294,398$4,197,215$2,319,235$12,617,235
91$23,365,627$4,302,079$2,296,129$13,671,303
92$25,644,946$4,408,906$2,269,075$14,826,877
93$28,153,481$4,517,693$2,237,839$16,094,177
94$30,914,508$4,628,431$2,202,179$17,484,464
95$33,953,675$4,741,111$2,161,839$19,010,145
96$37,299,242$4,855,718$2,116,553$20,684,891
97$40,982,349$4,972,233$2,066,042$22,523,766
98$45,037,309$5,090,633$2,010,014$24,543,369
99$49,501,929$5,210,888$1,948,165$26,761,991
100$54,417,872$5,332,968$1,880,174$29,199,786