Can I retire at age 64 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$171,764$170,234$168,742$167,285$165,862$164,886
2 years$85,032$83,448$81,913$80,425$78,982$77,997
3 years$56,125$54,534$53,003$51,529$50,109$49,146
4 years$41,674$40,089$38,573$37,124$35,738$34,805
5 years$33,006$31,430$29,934$28,515$27,168$26,266
6 years$27,229$25,665$24,191$22,803$21,497$20,628
7 years$23,104$21,553$20,103$18,748$17,483$16,648
8 years$20,012$18,475$17,049$15,727$14,504$13,702
9 years$17,609$16,086$14,684$13,396$12,214$11,446
10 years$15,687$14,179$12,802$11,548$10,407$9,672
11 years$14,115$12,623$11,271$10,050$8,950$8,248
12 years$12,807$11,329$10,003$8,815$7,756$7,086
13 years$11,700$10,239$8,937$7,782$6,764$6,124
14 years$10,753$9,307$8,030$6,908$5,929$5,320
15 years$9,932$8,502$7,250$6,161$5,220$4,641
16 years$9,215$7,800$6,573$5,517$4,614$4,064
17 years$8,583$7,184$5,981$4,957$4,091$3,569
18 years$8,022$6,638$5,460$4,467$3,637$3,143
19 years$7,520$6,152$4,998$4,036$3,242$2,774
20 years$7,069$5,717$4,587$3,656$2,896$2,453
21 years$6,662$5,325$4,219$3,318$2,591$2,173
22 years$6,292$4,971$3,889$3,016$2,323$1,928
23 years$5,955$4,649$3,591$2,747$2,085$1,712
24 years$5,646$4,356$3,321$2,506$1,874$1,523
25 years$5,363$4,088$3,076$2,288$1,686$1,356
26 years$5,101$3,842$2,852$2,092$1,519$1,208
27 years$4,860$3,616$2,649$1,915$1,370$1,077
28 years$4,636$3,407$2,462$1,755$1,236$962
29 years$4,428$3,214$2,291$1,609$1,116$859
30 years$4,234$3,035$2,134$1,477$1,008$767
31 years$4,053$2,869$1,990$1,356$912$686
32 years$3,884$2,715$1,857$1,246$825$613
33 years$3,725$2,571$1,733$1,146$746$549
34 years$3,576$2,437$1,620$1,055$676$491
35 years$3,436$2,311$1,514$971$612$440
36 years$3,304$2,194$1,417$894$554$394
37 years$3,179$2,084$1,326$824$503$353
38 years$3,061$1,980$1,242$759$456$316
39 years$2,949$1,883$1,163$700$413$283
40 years$2,844$1,791$1,090$646$375$254
41 years$2,743$1,705$1,022$596$340$228
42 years$2,648$1,624$959$550$309$204
43 years$2,558$1,547$900$508$280$183
44 years$2,471$1,475$845$469$254$164
45 years$2,389$1,407$793$433$231$147
46 years$2,311$1,342$745$400$209$132
47 years$2,236$1,280$700$369$190$118
48 years$2,165$1,222$658$341$173$106
49 years$2,096$1,167$618$315$157$95
50 years$2,031$1,115$581$292$143$85

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,080,000, adding $2,690 every year, while hoping to spend $32,041 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: 54/21/25 Blend
63$2,080,000$2,080,000$2,080,000$2,080,000
64$2,294,935$2,184,695$2,152,455$2,402,872
65$2,494,927$2,257,653$2,190,471$2,550,496
66$2,714,244$2,333,113$2,228,686$2,707,584
67$2,954,824$2,411,163$2,267,074$2,877,942
68$3,218,800$2,491,894$2,305,606$3,062,853
69$3,508,524$2,575,403$2,344,249$3,263,729
70$3,826,583$2,661,788$2,382,972$3,482,125
71$4,175,831$2,751,151$2,421,737$3,719,749
72$4,559,408$2,843,600$2,460,508$3,978,487
73$4,980,776$2,939,245$2,499,244$4,260,411
74$5,443,748$3,038,200$2,537,900$4,567,804
75$5,952,522$3,140,585$2,576,432$4,903,180
76$6,511,728$3,246,521$2,614,791$5,269,308
77$7,126,462$3,356,138$2,652,924$5,669,235
78$7,802,340$3,469,569$2,690,776$6,106,320
79$8,545,551$3,586,950$2,728,290$6,584,259
80$9,362,912$3,708,425$2,765,402$7,107,125
81$10,261,934$3,834,143$2,802,048$7,679,403
82$11,250,892$3,964,256$2,838,157$8,306,035
83$12,338,904$4,098,926$2,873,657$8,992,462
84$13,536,017$4,238,318$2,908,469$9,744,680
85$14,853,299$4,382,605$2,942,511$10,569,292
86$16,302,948$4,531,964$2,975,697$11,473,573
87$17,898,401$4,686,583$3,007,935$12,465,537
88$19,654,465$4,846,653$3,039,129$13,554,014
89$21,587,457$5,012,375$3,069,176$14,748,730
90$23,715,353$5,183,957$3,097,969$16,060,403
91$26,057,963$5,361,614$3,125,394$17,500,837
92$28,637,114$5,545,572$3,151,334$19,083,042
93$31,476,857$5,736,063$3,175,661$20,821,348
94$34,603,694$5,933,328$3,198,244$22,731,546
95$38,046,830$6,137,620$3,218,944$24,831,033
96$41,838,442$6,349,199$3,237,614$27,138,979
97$46,013,991$6,568,337$3,254,101$29,676,505
98$50,612,548$6,795,315$3,268,244$32,466,883
99$55,677,169$7,030,427$3,279,871$35,535,756
100$61,255,299$7,273,977$3,288,806$38,911,377