Can I retire at age 64 with 2,030,000?

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 $2,030,000?

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 years$167,636$166,142$164,685$163,264$161,875$161,193
2 years$82,988$81,442$79,944$78,492$77,083$76,395
3 years$54,776$53,223$51,729$50,291$48,905$48,231
4 years$40,672$39,125$37,646$36,232$34,879$34,226
5 years$32,213$30,674$29,215$27,829$26,515$25,883
6 years$26,575$25,048$23,610$22,255$20,980$20,371
7 years$22,549$21,035$19,620$18,297$17,063$16,476
8 years$19,531$18,031$16,639$15,349$14,155$13,592
9 years$17,185$15,699$14,331$13,074$11,921$11,380
10 years$15,310$13,838$12,494$11,270$10,157$9,640
11 years$13,776$12,319$11,000$9,808$8,735$8,240
12 years$12,499$11,057$9,762$8,603$7,570$7,097
13 years$11,419$9,992$8,722$7,595$6,601$6,150
14 years$10,494$9,083$7,837$6,742$5,786$5,356
15 years$9,694$8,297$7,075$6,013$5,095$4,685
16 years$8,994$7,613$6,415$5,384$4,503$4,113
17 years$8,377$7,011$5,837$4,837$3,993$3,622
18 years$7,829$6,478$5,329$4,359$3,550$3,199
19 years$7,339$6,004$4,878$3,939$3,164$2,831
20 years$6,899$5,579$4,477$3,568$2,826$2,511
21 years$6,502$5,197$4,118$3,238$2,529$2,231
22 years$6,141$4,851$3,795$2,944$2,267$1,985
23 years$5,812$4,537$3,504$2,681$2,035$1,768
24 years$5,510$4,251$3,241$2,445$1,829$1,578
25 years$5,234$3,989$3,002$2,233$1,646$1,409
26 years$4,979$3,749$2,784$2,042$1,483$1,259
27 years$4,743$3,529$2,585$1,869$1,337$1,127
28 years$4,524$3,325$2,403$1,712$1,206$1,009
29 years$4,321$3,137$2,236$1,570$1,089$904
30 years$4,132$2,962$2,083$1,441$984$810
31 years$3,956$2,800$1,942$1,324$890$726
32 years$3,790$2,650$1,812$1,216$805$652
33 years$3,635$2,509$1,692$1,119$728$585
34 years$3,490$2,378$1,581$1,029$659$525
35 years$3,353$2,256$1,478$947$597$472
36 years$3,224$2,141$1,383$873$541$424
37 years$3,102$2,034$1,294$804$490$381
38 years$2,987$1,933$1,212$741$445$343
39 years$2,878$1,838$1,135$683$403$308
40 years$2,775$1,748$1,064$630$366$277
41 years$2,677$1,664$998$581$332$249
42 years$2,584$1,585$936$537$301$224
43 years$2,496$1,510$878$495$273$202
44 years$2,412$1,440$824$457$248$182
45 years$2,332$1,373$774$422$225$163
46 years$2,255$1,310$727$390$204$147
47 years$2,182$1,250$683$360$186$132
48 years$2,113$1,193$642$333$169$119
49 years$2,046$1,139$603$308$153$107
50 years$1,982$1,088$567$285$139$97

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,030,000, adding $4,294 every year, while hoping to spend $46,490 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: 73/20/7 Blend
63$2,030,000$2,030,000$2,030,000$2,030,000
64$2,241,489$2,133,899$2,102,434$2,402,598
65$2,420,656$2,188,995$2,123,401$2,564,474
66$2,616,540$2,245,233$2,143,512$2,735,443
67$2,830,797$2,302,619$2,162,689$2,921,370
68$3,065,250$2,361,159$2,180,851$3,123,717
69$3,321,907$2,420,858$2,197,911$3,344,095
70$3,602,979$2,481,717$2,213,779$3,584,275
71$3,910,901$2,543,740$2,228,358$3,846,211
72$4,248,354$2,606,924$2,241,550$4,132,052
73$4,618,292$2,671,269$2,253,247$4,444,165
74$5,023,966$2,736,770$2,263,340$4,785,159
75$5,468,960$2,803,420$2,271,710$5,157,905
76$5,957,218$2,871,212$2,278,236$5,565,568
77$6,493,086$2,940,134$2,282,790$6,011,632
78$7,081,353$3,010,172$2,285,235$6,499,935
79$7,727,290$3,081,310$2,285,430$7,034,707
80$8,436,708$3,153,529$2,283,226$7,620,606
81$9,216,006$3,226,805$2,278,468$8,262,764
82$10,072,232$3,301,112$2,270,990$8,966,834
83$11,013,154$3,376,421$2,260,623$9,739,047
84$12,047,327$3,452,697$2,247,185$10,586,264
85$13,184,177$3,529,901$2,230,488$11,516,046
86$14,434,088$3,607,991$2,210,334$12,536,726
87$15,808,501$3,686,919$2,186,516$13,657,481
88$17,320,022$3,766,632$2,158,818$14,888,426
89$18,982,538$3,847,071$2,127,013$16,240,705
90$20,811,351$3,928,171$2,090,862$17,726,595
91$22,823,319$4,009,862$2,050,116$19,359,627
92$25,037,019$4,092,066$2,004,516$21,154,709
93$27,472,916$4,174,698$1,953,788$23,128,269
94$30,153,561$4,257,666$1,897,648$25,298,408
95$33,103,802$4,340,870$1,835,797$27,685,072
96$36,351,016$4,424,199$1,767,923$30,310,240
97$39,925,371$4,507,536$1,693,700$33,198,133
98$43,860,107$4,590,754$1,612,786$36,375,440
99$48,191,850$4,673,712$1,524,827$39,871,571
100$52,960,958$4,756,264$1,429,448$43,718,934