Can I retire at age 64 with 2,050,000?

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$169,287$167,779$166,308$164,872$163,470$161,360
2 years$83,805$82,245$80,732$79,265$77,843$75,720
3 years$55,315$53,748$52,239$50,786$49,387$47,317
4 years$41,073$39,510$38,017$36,589$35,223$33,223
5 years$32,530$30,977$29,502$28,104$26,776$24,851
6 years$26,836$25,295$23,842$22,475$21,187$19,339
7 years$22,771$21,242$19,813$18,478$17,231$15,461
8 years$19,724$18,209$16,803$15,500$14,294$12,602
9 years$17,355$15,854$14,472$13,203$12,038$10,423
10 years$15,460$13,974$12,617$11,381$10,257$8,718
11 years$13,912$12,441$11,108$9,905$8,821$7,357
12 years$12,622$11,166$9,858$8,688$7,644$6,252
13 years$11,532$10,091$8,808$7,670$6,666$5,345
14 years$10,598$9,172$7,914$6,809$5,843$4,592
15 years$9,789$8,379$7,145$6,072$5,145$3,960
16 years$9,082$7,688$6,478$5,437$4,547$3,427
17 years$8,459$7,080$5,895$4,885$4,032$2,974
18 years$7,906$6,542$5,381$4,402$3,585$2,588
19 years$7,412$6,063$4,926$3,978$3,195$2,256
20 years$6,967$5,634$4,521$3,603$2,854$1,970
21 years$6,566$5,248$4,158$3,270$2,554$1,723
22 years$6,201$4,899$3,833$2,973$2,289$1,510
23 years$5,869$4,582$3,539$2,708$2,055$1,324
24 years$5,565$4,293$3,273$2,469$1,847$1,162
25 years$5,285$4,029$3,031$2,255$1,662$1,021
26 years$5,028$3,786$2,811$2,062$1,497$898
27 years$4,790$3,563$2,611$1,887$1,350$790
28 years$4,569$3,358$2,427$1,729$1,218$695
29 years$4,364$3,168$2,258$1,586$1,100$612
30 years$4,173$2,992$2,104$1,455$994$540
31 years$3,995$2,828$1,961$1,337$898$476
32 years$3,828$2,676$1,830$1,228$813$420
33 years$3,671$2,534$1,708$1,130$736$370
34 years$3,524$2,402$1,596$1,039$666$327
35 years$3,386$2,278$1,492$957$603$288
36 years$3,256$2,162$1,396$881$546$254
37 years$3,133$2,054$1,307$812$495$225
38 years$3,017$1,952$1,224$748$449$198
39 years$2,907$1,856$1,146$690$407$175
40 years$2,803$1,766$1,075$636$369$155
41 years$2,704$1,681$1,008$587$335$137
42 years$2,610$1,601$945$542$304$121
43 years$2,521$1,525$887$500$276$107
44 years$2,436$1,454$833$462$250$94
45 years$2,355$1,386$782$427$227$83
46 years$2,277$1,322$734$394$206$74
47 years$2,204$1,262$690$364$187$65
48 years$2,133$1,205$648$336$170$58
49 years$2,066$1,150$609$311$155$51
50 years$2,002$1,099$573$287$140$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,050,000, adding $5,368 every year, while hoping to spend $42,022 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: 36/39/25 Blend
63$2,050,000$2,050,000$2,050,000$2,050,000
64$2,264,637$2,155,987$2,124,212$2,328,950
65$2,450,919$2,216,919$2,150,662$2,437,840
66$2,654,793$2,279,429$2,176,590$2,551,084
67$2,878,010$2,343,549$2,201,933$2,672,512
68$3,122,496$2,409,312$2,226,627$2,802,886
69$3,390,374$2,476,752$2,250,603$2,943,042
70$3,683,982$2,545,902$2,273,787$3,093,905
71$4,005,892$2,616,795$2,296,103$3,256,488
72$4,358,941$2,689,466$2,317,471$3,431,910
73$4,746,251$2,763,948$2,337,804$3,621,401
74$5,171,262$2,840,275$2,357,014$3,826,316
75$5,637,762$2,918,479$2,375,005$4,048,148
76$6,149,924$2,998,595$2,391,678$4,288,541
77$6,712,346$3,080,656$2,406,929$4,549,305
78$7,330,092$3,164,695$2,420,648$4,832,433
79$8,008,740$3,250,743$2,432,718$5,140,124
80$8,754,435$3,338,834$2,443,018$5,474,796
81$9,573,949$3,428,999$2,451,421$5,839,116
82$10,474,741$3,521,268$2,457,792$6,236,021
83$11,465,026$3,615,672$2,461,990$6,668,746
84$12,553,860$3,712,241$2,463,868$7,140,859
85$13,751,215$3,811,003$2,463,269$7,656,286
86$15,068,082$3,911,985$2,460,032$8,219,358
87$16,516,569$4,015,214$2,453,985$8,834,845
88$18,110,014$4,120,715$2,444,948$9,508,002
89$19,863,116$4,228,511$2,432,735$10,244,622
90$21,792,071$4,338,624$2,417,148$11,051,089
91$23,914,720$4,451,075$2,397,981$11,934,435
92$26,250,725$4,565,881$2,375,017$12,902,413
93$28,821,749$4,683,060$2,348,030$13,963,564
94$31,651,661$4,802,623$2,316,783$15,127,304
95$34,766,762$4,924,583$2,281,027$16,404,005
96$38,196,033$5,048,948$2,240,501$17,805,103
97$41,971,405$5,175,724$2,194,935$19,343,197
98$46,128,065$5,304,911$2,144,043$21,032,174
99$50,704,786$5,436,510$2,087,526$22,887,338
100$55,744,289$5,570,514$2,025,073$24,925,555