Can I retire at age 64 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$183,326$181,693$180,099$178,544$177,026$171,428
2 years$90,755$89,065$87,427$85,839$84,298$78,709
3 years$59,902$58,205$56,571$54,998$53,482$48,077
4 years$44,479$42,787$41,169$39,623$38,144$32,965
5 years$35,228$33,545$31,949$30,434$28,996$24,057
6 years$29,062$27,392$25,820$24,338$22,944$18,248
7 years$24,659$23,004$21,456$20,010$18,660$14,207
8 years$21,359$19,719$18,197$16,786$15,480$11,267
9 years$18,794$17,169$15,673$14,298$13,036$9,059
10 years$16,742$15,133$13,664$12,325$11,108$7,360
11 years$15,065$13,472$12,029$10,726$9,553$6,028
12 years$13,669$12,092$10,676$9,408$8,278$4,969
13 years$12,488$10,928$9,538$8,306$7,219$4,117
14 years$11,477$9,933$8,570$7,373$6,328$3,425
15 years$10,601$9,074$7,738$6,576$5,572$2,859
16 years$9,835$8,325$7,015$5,888$4,924$2,393
17 years$9,161$7,667$6,384$5,290$4,366$2,008
18 years$8,562$7,085$5,827$4,768$3,882$1,688
19 years$8,026$6,566$5,335$4,308$3,460$1,421
20 years$7,545$6,102$4,896$3,902$3,091$1,198
21 years$7,110$5,683$4,503$3,541$2,766$1,011
22 years$6,715$5,305$4,150$3,220$2,479$854
23 years$6,356$4,962$3,832$2,932$2,226$722
24 years$6,026$4,649$3,544$2,674$2,000$610
25 years$5,724$4,363$3,283$2,442$1,800$517
26 years$5,445$4,100$3,044$2,233$1,621$437
27 years$5,187$3,859$2,827$2,044$1,462$371
28 years$4,948$3,636$2,628$1,873$1,319$314
29 years$4,726$3,430$2,446$1,717$1,191$266
30 years$4,519$3,240$2,278$1,576$1,076$226
31 years$4,326$3,062$2,124$1,448$973$191
32 years$4,145$2,898$1,982$1,330$880$162
33 years$3,976$2,744$1,850$1,223$797$138
34 years$3,817$2,601$1,729$1,126$721$117
35 years$3,667$2,467$1,616$1,036$653$99
36 years$3,526$2,341$1,512$954$592$84
37 years$3,393$2,224$1,415$879$536$71
38 years$3,267$2,113$1,325$810$486$61
39 years$3,148$2,010$1,242$747$441$51
40 years$3,035$1,912$1,164$689$400$44
41 years$2,928$1,820$1,091$636$363$37
42 years$2,826$1,733$1,024$587$329$31
43 years$2,730$1,652$960$542$299$27
44 years$2,638$1,574$902$500$271$23
45 years$2,550$1,501$847$462$246$19
46 years$2,466$1,432$795$427$224$16
47 years$2,387$1,367$747$394$203$14
48 years$2,310$1,305$702$364$184$12
49 years$2,237$1,246$660$337$167$10
50 years$2,167$1,190$620$311$152$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,220,000, adding $5,743 every year, while hoping to spend $50,597 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: 43/50/7 Blend
63$2,220,000$2,220,000$2,220,000$2,220,000
64$2,452,364$2,334,704$2,300,294$2,552,625
65$2,648,670$2,395,270$2,323,519$2,683,319
66$2,863,304$2,457,107$2,345,826$2,819,193
67$3,098,081$2,520,226$2,367,132$2,965,215
68$3,355,001$2,584,633$2,387,346$3,122,331
69$3,636,266$2,650,334$2,406,377$3,291,580
70$3,944,300$2,717,336$2,424,126$3,474,107
71$4,281,773$2,785,640$2,440,489$3,671,171
72$4,651,626$2,855,248$2,455,357$3,884,159
73$5,057,097$2,926,160$2,468,617$4,114,598
74$5,501,753$2,998,374$2,480,147$4,364,166
75$5,989,522$3,071,884$2,489,822$4,634,715
76$6,524,731$3,146,684$2,497,508$4,928,281
77$7,112,145$3,222,764$2,503,067$5,247,108
78$7,757,016$3,300,111$2,506,352$5,593,666
79$8,465,126$3,378,711$2,507,209$5,970,678
80$9,242,845$3,458,543$2,505,476$6,381,140
81$10,097,191$3,539,588$2,500,985$6,828,354
82$11,035,895$3,621,818$2,493,559$7,315,958
83$12,067,473$3,705,205$2,483,011$7,847,958
84$13,201,309$3,789,713$2,469,145$8,428,769
85$14,447,740$3,875,306$2,451,758$9,063,254
86$15,818,153$3,961,940$2,430,636$9,756,772
87$17,325,095$4,049,566$2,405,553$10,515,227
88$18,982,391$4,138,131$2,376,275$11,345,125
89$20,805,270$4,227,574$2,342,556$12,253,633
90$22,810,513$4,317,831$2,304,137$13,248,650
91$25,016,609$4,408,828$2,260,749$14,338,880
92$27,443,928$4,500,486$2,212,109$15,533,913
93$30,114,916$4,592,717$2,157,922$16,844,320
94$33,054,304$4,685,426$2,097,878$18,281,746
95$36,289,340$4,778,510$2,031,655$19,859,026
96$39,850,051$4,871,854$1,958,913$21,590,306
97$43,769,518$4,965,338$1,879,299$23,491,171
98$48,084,197$5,058,827$1,792,443$25,578,799
99$52,834,253$5,152,178$1,697,959$27,872,122
100$58,063,948$5,245,235$1,595,441$30,392,001