Can I retire at age 64 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$170,113$168,598$167,119$165,676$164,267$159,972
2 years$84,214$82,646$81,126$79,652$78,223$73,924
3 years$55,585$54,010$52,494$51,034$49,628$45,461
4 years$41,273$39,703$38,202$36,767$35,395$31,392
5 years$32,689$31,128$29,646$28,241$26,907$23,078
6 years$26,967$25,418$23,959$22,584$21,290$17,640
7 years$22,882$21,346$19,910$18,568$17,315$13,843
8 years$19,820$18,298$16,885$15,576$14,364$11,070
9 years$17,439$15,931$14,543$13,267$12,097$8,977
10 years$15,536$14,043$12,679$11,437$10,307$7,357
11 years$13,980$12,501$11,162$9,953$8,864$6,080
12 years$12,684$11,221$9,906$8,730$7,682$5,059
13 years$11,588$10,140$8,851$7,708$6,699$4,231
14 years$10,649$9,217$7,952$6,842$5,872$3,554
15 years$9,837$8,420$7,180$6,102$5,170$2,996
16 years$9,127$7,725$6,510$5,463$4,569$2,533
17 years$8,501$7,115$5,924$4,909$4,052$2,147
18 years$7,945$6,574$5,407$4,424$3,602$1,824
19 years$7,448$6,093$4,950$3,997$3,211$1,551
20 years$7,001$5,662$4,543$3,620$2,868$1,322
21 years$6,598$5,274$4,179$3,286$2,567$1,128
22 years$6,231$4,923$3,851$2,987$2,301$963
23 years$5,897$4,604$3,556$2,721$2,065$823
24 years$5,592$4,314$3,289$2,481$1,856$704
25 years$5,311$4,048$3,046$2,266$1,670$602
26 years$5,052$3,805$2,825$2,072$1,505$516
27 years$4,813$3,581$2,623$1,897$1,356$442
28 years$4,591$3,374$2,439$1,738$1,224$379
29 years$4,385$3,183$2,269$1,594$1,105$325
30 years$4,193$3,006$2,114$1,462$999$279
31 years$4,014$2,842$1,971$1,343$903$239
32 years$3,846$2,689$1,839$1,234$817$205
33 years$3,689$2,546$1,717$1,135$739$176
34 years$3,542$2,413$1,604$1,044$669$151
35 years$3,403$2,289$1,500$961$606$130
36 years$3,272$2,173$1,403$885$549$111
37 years$3,148$2,064$1,313$816$498$96
38 years$3,032$1,961$1,230$752$451$82
39 years$2,921$1,865$1,152$693$409$70
40 years$2,816$1,774$1,080$640$371$61
41 years$2,717$1,689$1,013$590$337$52
42 years$2,623$1,608$950$545$306$45
43 years$2,533$1,533$891$503$277$38
44 years$2,448$1,461$837$464$252$33
45 years$2,366$1,393$786$429$228$28
46 years$2,289$1,329$738$396$207$24
47 years$2,215$1,268$693$366$188$21
48 years$2,144$1,211$651$338$171$18
49 years$2,076$1,156$612$312$155$15
50 years$2,011$1,104$576$289$141$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,060,000, adding $2,457 every year, while hoping to spend $56,168 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: 52/35/13 Blend
63$2,060,000$2,060,000$2,060,000$2,060,000
64$2,272,654$2,163,474$2,131,544$2,382,836
65$2,444,703$2,209,722$2,143,189$2,504,615
66$2,632,418$2,256,354$2,153,341$2,630,808
67$2,837,338$2,303,329$2,161,891$2,766,776
68$3,061,156$2,350,602$2,168,725$2,913,457
69$3,305,739$2,398,126$2,173,721$3,071,886
70$3,573,137$2,445,847$2,176,754$3,243,203
71$3,865,612$2,493,709$2,177,690$3,428,665
72$4,185,652$2,541,648$2,176,390$3,629,656
73$4,535,997$2,589,597$2,172,708$3,847,702
74$4,919,664$2,637,483$2,166,489$4,084,484
75$5,339,977$2,685,226$2,157,574$4,341,857
76$5,800,595$2,732,743$2,145,793$4,621,863
77$6,305,548$2,779,939$2,130,969$4,926,756
78$6,859,274$2,826,717$2,112,917$5,259,016
79$7,466,664$2,872,970$2,091,443$5,621,381
80$8,133,101$2,918,583$2,066,344$6,016,867
81$8,864,517$2,963,433$2,037,407$6,448,801
82$9,667,446$3,007,389$2,004,408$6,920,846
83$10,549,084$3,050,310$1,967,114$7,437,045
84$11,517,359$3,092,043$1,925,280$8,001,853
85$12,581,004$3,132,428$1,878,652$8,620,180
86$13,749,641$3,171,292$1,826,962$9,297,440
87$15,033,868$3,208,449$1,769,929$10,039,603
88$16,445,362$3,243,702$1,707,260$10,853,246
89$17,996,987$3,276,841$1,638,651$11,745,624
90$19,702,914$3,307,641$1,563,781$12,724,734
91$21,578,759$3,335,863$1,482,315$13,799,388
92$23,641,723$3,361,251$1,393,903$14,979,306
93$25,910,760$3,383,534$1,298,181$16,275,200
94$28,406,753$3,402,423$1,194,765$17,698,879
95$31,152,710$3,417,610$1,083,258$19,263,361
96$34,173,981$3,428,767$963,242$20,982,998
97$37,498,498$3,435,548$834,281$22,873,609
98$41,157,038$3,437,582$695,922$24,952,635
99$45,183,509$3,434,477$547,689$27,239,299
100$49,615,277$3,425,817$389,087$29,754,793