Can I retire at age 64 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$175,068$173,508$171,987$170,502$169,052$162,795
2 years$86,667$85,053$83,489$81,972$80,501$74,268
3 years$57,204$55,583$54,023$52,520$51,073$45,060
4 years$42,476$40,859$39,315$37,838$36,426$30,678
5 years$33,641$32,034$30,510$29,063$27,690$22,223
6 years$27,753$26,158$24,656$23,242$21,910$16,728
7 years$23,549$21,968$20,490$19,109$17,819$12,920
8 years$20,397$18,830$17,377$16,030$14,783$10,162
9 years$17,947$16,395$14,967$13,654$12,449$8,101
10 years$15,988$14,452$13,048$11,770$10,607$6,524
11 years$14,387$12,865$11,488$10,243$9,123$5,295
12 years$13,053$11,547$10,195$8,985$7,905$4,324
13 years$11,925$10,435$9,108$7,932$6,894$3,549
14 years$10,960$9,486$8,184$7,041$6,043$2,924
15 years$10,123$8,665$7,389$6,280$5,321$2,416
16 years$9,392$7,950$6,699$5,623$4,702$2,002
17 years$8,748$7,322$6,096$5,052$4,170$1,662
18 years$8,176$6,766$5,565$4,553$3,707$1,383
19 years$7,665$6,270$5,094$4,114$3,304$1,152
20 years$7,205$5,827$4,675$3,726$2,952$961
21 years$6,790$5,427$4,300$3,381$2,641$802
22 years$6,413$5,066$3,964$3,075$2,368$670
23 years$6,069$4,738$3,660$2,800$2,125$560
24 years$5,755$4,440$3,385$2,554$1,910$469
25 years$5,466$4,166$3,135$2,332$1,719$392
26 years$5,199$3,916$2,907$2,132$1,548$328
27 years$4,953$3,685$2,700$1,952$1,396$275
28 years$4,725$3,472$2,510$1,788$1,260$230
29 years$4,513$3,276$2,336$1,640$1,137$193
30 years$4,315$3,094$2,175$1,505$1,028$162
31 years$4,131$2,925$2,028$1,382$929$136
32 years$3,958$2,767$1,892$1,270$840$114
33 years$3,797$2,621$1,767$1,168$761$95
34 years$3,645$2,484$1,651$1,075$689$80
35 years$3,502$2,356$1,543$989$624$67
36 years$3,367$2,236$1,444$911$565$56
37 years$3,240$2,124$1,351$840$512$47
38 years$3,120$2,018$1,266$774$464$40
39 years$3,006$1,919$1,186$714$421$33
40 years$2,898$1,826$1,111$658$382$28
41 years$2,796$1,738$1,042$607$347$23
42 years$2,699$1,655$977$560$314$20
43 years$2,607$1,577$917$517$285$16
44 years$2,519$1,503$861$478$259$14
45 years$2,435$1,434$808$441$235$12
46 years$2,355$1,368$759$407$214$10
47 years$2,279$1,305$713$376$194$8
48 years$2,206$1,246$670$348$176$7
49 years$2,137$1,190$630$321$160$6
50 years$2,070$1,137$592$297$145$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,120,000, adding $2,205 every year, while hoping to spend $27,477 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: 50/23/27 Blend
63$2,120,000$2,120,000$2,120,000$2,120,000
64$2,338,514$2,226,154$2,193,294$2,437,491
65$2,547,808$2,306,001$2,237,535$2,586,669
66$2,777,528$2,388,839$2,282,336$2,745,798
67$3,029,729$2,474,785$2,327,688$2,918,220
68$3,306,676$2,563,964$2,373,579$3,105,210
69$3,610,860$2,656,501$2,419,998$3,308,167
70$3,945,029$2,752,531$2,466,928$3,528,632
71$4,312,207$2,852,190$2,514,356$3,768,304
72$4,715,728$2,955,624$2,562,263$4,029,047
73$5,159,264$3,062,981$2,610,630$4,312,915
74$5,646,861$3,174,419$2,659,438$4,622,171
75$6,182,975$3,290,100$2,708,664$4,959,304
76$6,772,517$3,410,193$2,758,282$5,327,051
77$7,420,897$3,534,875$2,808,268$5,728,432
78$8,134,075$3,664,331$2,858,592$6,166,765
79$8,918,620$3,798,752$2,909,223$6,645,707
80$9,781,766$3,938,338$2,960,130$7,169,285
81$10,731,487$4,083,298$3,011,275$7,741,932
82$11,776,567$4,233,847$3,062,621$8,368,530
83$12,926,684$4,390,214$3,114,126$9,054,455
84$14,192,504$4,552,633$3,165,748$9,805,628
85$15,585,778$4,721,350$3,217,439$10,628,571
86$17,119,454$4,896,622$3,269,149$11,530,466
87$18,807,798$5,078,717$3,320,825$12,519,223
88$20,666,531$5,267,911$3,372,410$13,603,556
89$22,712,975$5,464,497$3,423,845$14,793,064
90$24,966,218$5,668,777$3,475,063$16,098,318
91$27,447,293$5,881,068$3,525,998$17,530,965
92$30,179,374$6,101,697$3,576,576$19,103,834
93$33,188,000$6,331,011$3,626,721$20,831,058
94$36,501,311$6,569,365$3,676,352$22,728,206
95$40,150,317$6,817,136$3,725,381$24,812,430
96$44,169,186$7,074,712$3,773,718$27,102,627
97$48,595,570$7,342,501$3,821,266$29,619,614
98$53,470,962$7,620,927$3,867,921$32,386,327
99$58,841,081$7,910,433$3,913,578$35,428,035
100$64,756,308$8,211,482$3,958,120$38,772,577