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%13.9%
1 years$175,068$173,508$171,987$170,502$169,052$166,320
2 years$86,667$85,053$83,489$81,972$80,501$77,756
3 years$57,204$55,583$54,023$52,520$51,073$48,400
4 years$42,476$40,859$39,315$37,838$36,426$33,846
5 years$33,641$32,034$30,510$29,063$27,690$25,211
6 years$27,753$26,158$24,656$23,242$21,910$19,535
7 years$23,549$21,968$20,490$19,109$17,819$15,548
8 years$20,397$18,830$17,377$16,030$14,783$12,615
9 years$17,947$16,395$14,967$13,654$12,449$10,384
10 years$15,988$14,452$13,048$11,770$10,607$8,643
11 years$14,387$12,865$11,488$10,243$9,123$7,257
12 years$13,053$11,547$10,195$8,985$7,905$6,136
13 years$11,925$10,435$9,108$7,932$6,894$5,218
14 years$10,960$9,486$8,184$7,041$6,043$4,459
15 years$10,123$8,665$7,389$6,280$5,321$3,825
16 years$9,392$7,950$6,699$5,623$4,702$3,291
17 years$8,748$7,322$6,096$5,052$4,170$2,840
18 years$8,176$6,766$5,565$4,553$3,707$2,457
19 years$7,665$6,270$5,094$4,114$3,304$2,129
20 years$7,205$5,827$4,675$3,726$2,952$1,849
21 years$6,790$5,427$4,300$3,381$2,641$1,608
22 years$6,413$5,066$3,964$3,075$2,368$1,399
23 years$6,069$4,738$3,660$2,800$2,125$1,220
24 years$5,755$4,440$3,385$2,554$1,910$1,064
25 years$5,466$4,166$3,135$2,332$1,719$929
26 years$5,199$3,916$2,907$2,132$1,548$812
27 years$4,953$3,685$2,700$1,952$1,396$709
28 years$4,725$3,472$2,510$1,788$1,260$621
29 years$4,513$3,276$2,336$1,640$1,137$543
30 years$4,315$3,094$2,175$1,505$1,028$475
31 years$4,131$2,925$2,028$1,382$929$416
32 years$3,958$2,767$1,892$1,270$840$365
33 years$3,797$2,621$1,767$1,168$761$320
34 years$3,645$2,484$1,651$1,075$689$280
35 years$3,502$2,356$1,543$989$624$246
36 years$3,367$2,236$1,444$911$565$215
37 years$3,240$2,124$1,351$840$512$189
38 years$3,120$2,018$1,266$774$464$166
39 years$3,006$1,919$1,186$714$421$145
40 years$2,898$1,826$1,111$658$382$127
41 years$2,796$1,738$1,042$607$347$112
42 years$2,699$1,655$977$560$314$98
43 years$2,607$1,577$917$517$285$86
44 years$2,519$1,503$861$478$259$76
45 years$2,435$1,434$808$441$235$66
46 years$2,355$1,368$759$407$214$58
47 years$2,279$1,305$713$376$194$51
48 years$2,206$1,246$670$348$176$45
49 years$2,137$1,190$630$321$160$39
50 years$2,070$1,137$592$297$145$35

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 $2,775 every year, while hoping to spend $47,739 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: 75/19/6 Blend
63$2,120,000$2,120,000$2,120,000$2,120,000
64$2,339,102$2,226,742$2,193,882$2,512,871
65$2,526,897$2,285,059$2,216,584$2,685,826
66$2,732,246$2,344,633$2,238,445$2,868,918
67$2,956,891$2,405,475$2,259,389$3,068,157
68$3,202,747$2,467,597$2,279,332$3,285,125
69$3,471,925$2,531,007$2,298,186$3,521,561
70$3,766,747$2,595,712$2,315,861$3,779,383
71$4,089,773$2,661,719$2,332,260$4,060,701
72$4,443,820$2,729,034$2,347,281$4,367,838
73$4,831,992$2,797,659$2,360,818$4,703,354
74$5,257,707$2,867,596$2,372,757$5,070,067
75$5,724,729$2,938,844$2,382,981$5,471,081
76$6,237,207$3,011,402$2,391,365$5,909,817
77$6,799,706$3,085,265$2,397,780$6,390,040
78$7,417,259$3,160,426$2,402,089$6,915,898
79$8,095,407$3,236,875$2,404,147$7,491,963
80$8,840,257$3,314,601$2,403,804$8,123,269
81$9,658,534$3,393,586$2,400,902$8,815,361
82$10,557,647$3,473,815$2,395,275$9,574,350
83$11,545,759$3,555,263$2,386,748$10,406,967
84$12,631,862$3,637,907$2,375,140$11,320,628
85$13,825,863$3,721,715$2,360,258$12,323,505
86$15,138,677$3,806,655$2,341,903$13,424,598
87$16,582,329$3,892,689$2,319,864$14,633,827
88$18,170,068$3,979,772$2,293,921$15,962,119
89$19,916,492$4,067,858$2,263,844$17,421,516
90$21,837,682$4,156,891$2,229,391$19,025,285
91$23,951,360$4,246,813$2,190,310$20,788,043
92$26,277,049$4,337,557$2,146,335$22,725,899
93$28,836,262$4,429,051$2,097,192$24,856,602
94$31,652,702$4,521,216$2,042,589$27,199,708
95$34,752,486$4,613,964$1,982,224$29,776,767
96$38,164,390$4,707,199$1,915,779$32,611,525
97$41,920,124$4,800,818$1,842,924$35,730,148
98$46,054,627$4,894,708$1,763,312$39,161,470
99$50,606,396$4,988,746$1,676,580$42,937,262
100$55,617,853$5,082,799$1,582,350$47,092,537