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%13.4%
1 years$167,636$166,142$164,685$163,264$161,875$159,588
2 years$82,988$81,442$79,944$78,492$77,083$74,783
3 years$54,776$53,223$51,729$50,291$48,905$46,664
4 years$40,672$39,125$37,646$36,232$34,879$32,714
5 years$32,213$30,674$29,215$27,829$26,515$24,432
6 years$26,575$25,048$23,610$22,255$20,980$18,982
7 years$22,549$21,035$19,620$18,297$17,063$15,150
8 years$19,531$18,031$16,639$15,349$14,155$12,328
9 years$17,185$15,699$14,331$13,074$11,921$10,178
10 years$15,310$13,838$12,494$11,270$10,157$8,497
11 years$13,776$12,319$11,000$9,808$8,735$7,157
12 years$12,499$11,057$9,762$8,603$7,570$6,071
13 years$11,419$9,992$8,722$7,595$6,601$5,180
14 years$10,494$9,083$7,837$6,742$5,786$4,441
15 years$9,694$8,297$7,075$6,013$5,095$3,822
16 years$8,994$7,613$6,415$5,384$4,503$3,301
17 years$8,377$7,011$5,837$4,837$3,993$2,859
18 years$7,829$6,478$5,329$4,359$3,550$2,482
19 years$7,339$6,004$4,878$3,939$3,164$2,159
20 years$6,899$5,579$4,477$3,568$2,826$1,881
21 years$6,502$5,197$4,118$3,238$2,529$1,642
22 years$6,141$4,851$3,795$2,944$2,267$1,435
23 years$5,812$4,537$3,504$2,681$2,035$1,255
24 years$5,510$4,251$3,241$2,445$1,829$1,099
25 years$5,234$3,989$3,002$2,233$1,646$964
26 years$4,979$3,749$2,784$2,042$1,483$845
27 years$4,743$3,529$2,585$1,869$1,337$742
28 years$4,524$3,325$2,403$1,712$1,206$652
29 years$4,321$3,137$2,236$1,570$1,089$573
30 years$4,132$2,962$2,083$1,441$984$503
31 years$3,956$2,800$1,942$1,324$890$443
32 years$3,790$2,650$1,812$1,216$805$389
33 years$3,635$2,509$1,692$1,119$728$343
34 years$3,490$2,378$1,581$1,029$659$302
35 years$3,353$2,256$1,478$947$597$265
36 years$3,224$2,141$1,383$873$541$234
37 years$3,102$2,034$1,294$804$490$206
38 years$2,987$1,933$1,212$741$445$181
39 years$2,878$1,838$1,135$683$403$160
40 years$2,775$1,748$1,064$630$366$141
41 years$2,677$1,664$998$581$332$124
42 years$2,584$1,585$936$537$301$109
43 years$2,496$1,510$878$495$273$96
44 years$2,412$1,440$824$457$248$85
45 years$2,332$1,373$774$422$225$75
46 years$2,255$1,310$727$390$204$66
47 years$2,182$1,250$683$360$186$58
48 years$2,113$1,193$642$333$169$51
49 years$2,046$1,139$603$308$153$45
50 years$1,982$1,088$567$285$139$40

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 $5,549 every year, while hoping to spend $33,467 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: 31/43/26 Blend
63$2,030,000$2,030,000$2,030,000$2,030,000
64$2,242,784$2,135,194$2,103,729$2,294,243
65$2,435,939$2,204,210$2,138,595$2,403,267
66$2,647,675$2,275,486$2,173,508$2,517,200
67$2,879,850$2,349,097$2,208,433$2,639,176
68$3,134,514$2,425,122$2,243,335$2,769,919
69$3,413,923$2,503,641$2,278,175$2,910,225
70$3,720,561$2,584,738$2,312,912$3,060,972
71$4,057,167$2,668,499$2,347,503$3,223,120
72$4,426,756$2,755,013$2,381,902$3,397,729
73$4,832,648$2,844,372$2,416,059$3,585,962
74$5,278,505$2,936,673$2,449,924$3,789,097
75$5,768,356$3,032,013$2,483,439$4,008,542
76$6,306,642$3,130,496$2,516,549$4,245,845
77$6,898,256$3,232,226$2,549,189$4,502,707
78$7,548,587$3,337,314$2,581,296$4,781,003
79$8,263,573$3,445,873$2,612,800$5,082,792
80$9,049,756$3,558,019$2,643,627$5,410,344
81$9,914,343$3,673,875$2,673,701$5,766,154
82$10,865,276$3,793,565$2,702,940$6,152,970
83$11,911,304$3,917,219$2,731,258$6,573,817
84$13,062,067$4,044,972$2,758,565$7,032,024
85$14,328,185$4,176,963$2,784,764$7,531,257
86$15,721,362$4,313,337$2,809,756$8,075,551
87$17,254,491$4,454,240$2,833,433$8,669,351
88$18,941,781$4,599,829$2,855,684$9,317,549
89$20,798,885$4,750,263$2,876,392$10,025,534
90$22,843,052$4,905,707$2,895,432$10,799,240
91$25,093,289$5,066,332$2,912,675$11,645,202
92$27,570,537$5,232,316$2,927,982$12,570,617
93$30,297,874$5,403,841$2,941,212$13,583,414
94$33,300,726$5,581,098$2,952,211$14,692,323
95$36,607,112$5,764,284$2,960,822$15,906,963
96$40,247,904$5,953,601$2,966,877$17,237,928
97$44,257,124$6,149,261$2,970,201$18,696,887
98$48,672,259$6,351,483$2,970,610$20,296,697
99$53,534,616$6,560,492$2,967,912$22,051,520
100$58,889,713$6,776,522$2,961,904$23,976,956