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

Use the below retirement simulation to view the chances of a successful retirement.
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%15.8%
1 years$166,810$165,324$163,874$162,459$161,078$157,247
2 years$82,579$81,041$79,551$78,105$76,704$72,867
3 years$54,506$52,961$51,474$50,043$48,664$44,941
4 years$40,472$38,932$37,460$36,053$34,708$31,127
5 years$32,054$30,523$29,071$27,692$26,384$22,956
6 years$26,444$24,925$23,493$22,146$20,877$17,604
7 years$22,438$20,932$19,523$18,207$16,978$13,862
8 years$19,435$17,942$16,557$15,274$14,085$11,124
9 years$17,101$15,622$14,261$13,010$11,862$9,053
10 years$15,234$13,770$12,433$11,214$10,107$7,448
11 years$13,708$12,259$10,946$9,760$8,692$6,179
12 years$12,437$11,003$9,714$8,561$7,533$5,161
13 years$11,363$9,943$8,679$7,558$6,569$4,334
14 years$10,443$9,038$7,798$6,709$5,758$3,655
15 years$9,646$8,256$7,040$5,983$5,070$3,095
16 years$8,949$7,575$6,383$5,357$4,481$2,628
17 years$8,335$6,976$5,808$4,814$3,973$2,237
18 years$7,790$6,447$5,302$4,338$3,532$1,908
19 years$7,303$5,975$4,854$3,920$3,149$1,631
20 years$6,865$5,552$4,455$3,550$2,812$1,396
21 years$6,470$5,171$4,098$3,222$2,517$1,196
22 years$6,110$4,827$3,777$2,929$2,256$1,026
23 years$5,783$4,515$3,487$2,668$2,025$881
24 years$5,483$4,230$3,225$2,433$1,820$757
25 years$5,208$3,970$2,987$2,222$1,638$651
26 years$4,954$3,731$2,770$2,032$1,475$560
27 years$4,720$3,511$2,572$1,860$1,330$482
28 years$4,502$3,309$2,391$1,704$1,200$416
29 years$4,300$3,121$2,225$1,563$1,084$358
30 years$4,112$2,948$2,073$1,434$979$309
31 years$3,936$2,787$1,932$1,317$885$266
32 years$3,772$2,637$1,803$1,210$801$229
33 years$3,618$2,497$1,683$1,113$725$198
34 years$3,473$2,367$1,573$1,024$656$171
35 years$3,337$2,245$1,471$943$594$147
36 years$3,208$2,131$1,376$868$538$127
37 years$3,087$2,023$1,288$800$488$110
38 years$2,973$1,923$1,206$737$442$95
39 years$2,864$1,829$1,130$680$401$82
40 years$2,762$1,740$1,059$627$364$70
41 years$2,664$1,656$993$579$330$61
42 years$2,572$1,577$931$534$300$53
43 years$2,484$1,503$874$493$272$45
44 years$2,400$1,432$820$455$247$39
45 years$2,320$1,366$770$420$224$34
46 years$2,244$1,303$723$388$203$29
47 years$2,172$1,244$680$359$185$25
48 years$2,102$1,187$639$331$168$22
49 years$2,036$1,134$600$306$152$19
50 years$1,972$1,083$564$283$138$16

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 $4,216 every year, while hoping to spend $58,911 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: 50/30/20 Blend
63$2,020,000$2,020,000$2,020,000$2,020,000
64$2,230,389$2,123,329$2,092,019$2,329,261
65$2,395,208$2,164,691$2,099,421$2,439,476
66$2,574,863$2,206,106$2,105,096$2,552,816
67$2,770,808$2,247,513$2,108,925$2,674,751
68$2,984,637$2,288,848$2,110,781$2,806,115
69$3,218,111$2,330,042$2,110,532$2,947,828
70$3,473,163$2,371,019$2,108,040$3,100,904
71$3,751,925$2,411,699$2,103,159$3,266,461
72$4,056,742$2,451,993$2,095,736$3,445,734
73$4,390,198$2,491,809$2,085,611$3,640,083
74$4,755,136$2,531,045$2,072,617$3,851,009
75$5,154,687$2,569,593$2,056,577$4,080,166
76$5,592,300$2,607,338$2,037,307$4,329,381
77$6,071,773$2,644,156$2,014,614$4,600,668
78$6,597,286$2,679,912$1,988,297$4,896,246
79$7,173,448$2,714,466$1,958,143$5,218,566
80$7,805,330$2,747,665$1,923,931$5,570,330
81$8,498,519$2,779,347$1,885,429$5,954,517
82$9,259,172$2,809,338$1,842,394$6,374,414
83$10,094,065$2,837,454$1,794,572$6,833,645
84$11,010,667$2,863,496$1,741,698$7,336,209
85$12,017,203$2,887,256$1,683,493$7,886,514
86$13,122,734$2,908,508$1,619,666$8,489,423
87$14,337,243$2,927,014$1,549,915$9,150,298
88$15,671,725$2,942,521$1,473,920$9,875,052
89$17,138,295$2,954,759$1,391,350$10,670,208
90$18,750,299$2,963,440$1,301,858$11,542,957
91$20,522,439$2,968,259$1,205,081$12,501,230
92$22,470,916$2,968,891$1,100,639$13,553,772
93$24,613,576$2,964,994$988,137$14,710,227
94$26,970,083$2,956,200$867,161$15,981,229
95$29,562,099$2,942,121$737,279$17,378,504
96$32,413,494$2,922,347$598,039$18,914,982
97$35,550,568$2,896,439$448,971$20,604,918
98$39,002,297$2,863,935$289,582$22,464,031
99$42,800,607$2,824,344$119,359$24,509,654
100$46,980,678$2,777,146$0$26,760,894