Can I retire at age 64 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$184,151$182,511$180,911$179,349$177,823$173,243
2 years$91,164$89,466$87,821$86,225$84,678$80,094
3 years$60,172$58,467$56,826$55,245$53,723$49,279
4 years$44,679$42,980$41,355$39,801$38,316$34,045
5 years$35,386$33,696$32,093$30,571$29,127$25,042
6 years$29,193$27,516$25,936$24,448$23,047$19,152
7 years$24,771$23,108$21,553$20,100$18,744$15,038
8 years$21,455$19,808$18,278$16,861$15,550$12,033
9 years$18,878$17,246$15,743$14,362$13,095$9,763
10 years$16,818$15,202$13,725$12,380$11,158$8,007
11 years$15,133$13,533$12,084$10,775$9,596$6,621
12 years$13,730$12,147$10,724$9,451$8,316$5,512
13 years$12,544$10,977$9,581$8,344$7,251$4,613
14 years$11,528$9,978$8,609$7,407$6,357$3,878
15 years$10,649$9,115$7,772$6,605$5,597$3,272
16 years$9,880$8,363$7,047$5,914$4,946$2,768
17 years$9,202$7,702$6,412$5,314$4,386$2,348
18 years$8,600$7,117$5,854$4,789$3,900$1,996
19 years$8,062$6,596$5,359$4,327$3,476$1,699
20 years$7,579$6,129$4,918$3,919$3,105$1,449
21 years$7,142$5,709$4,524$3,557$2,778$1,237
22 years$6,746$5,329$4,169$3,234$2,490$1,057
23 years$6,384$4,984$3,850$2,945$2,236$904
24 years$6,053$4,670$3,560$2,686$2,009$774
25 years$5,749$4,382$3,297$2,453$1,808$663
26 years$5,469$4,119$3,058$2,243$1,629$568
27 years$5,210$3,876$2,840$2,053$1,468$487
28 years$4,970$3,653$2,640$1,881$1,325$418
29 years$4,747$3,446$2,457$1,725$1,196$359
30 years$4,539$3,254$2,288$1,583$1,081$308
31 years$4,345$3,076$2,133$1,454$977$264
32 years$4,164$2,911$1,990$1,336$884$227
33 years$3,994$2,757$1,858$1,229$800$195
34 years$3,834$2,613$1,736$1,131$724$167
35 years$3,683$2,478$1,623$1,041$656$144
36 years$3,542$2,352$1,519$959$594$124
37 years$3,408$2,234$1,421$883$539$106
38 years$3,282$2,123$1,331$814$488$91
39 years$3,162$2,019$1,247$751$443$78
40 years$3,049$1,921$1,169$692$402$67
41 years$2,941$1,828$1,096$639$365$58
42 years$2,839$1,741$1,028$589$331$50
43 years$2,742$1,659$965$544$300$43
44 years$2,650$1,581$906$502$272$37
45 years$2,561$1,508$850$464$247$32
46 years$2,477$1,439$799$429$225$27
47 years$2,397$1,373$750$396$204$23
48 years$2,321$1,311$705$366$185$20
49 years$2,247$1,252$663$338$168$17
50 years$2,177$1,195$623$313$153$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,230,000, adding $2,560 every year, while hoping to spend $55,482 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: 58/37/5 Blend
63$2,230,000$2,230,000$2,230,000$2,230,000
64$2,460,101$2,341,911$2,307,346$2,600,387
65$2,651,998$2,397,632$2,325,609$2,750,482
66$2,861,610$2,454,224$2,342,625$2,907,448
67$3,090,685$2,511,671$2,358,293$3,077,121
68$3,341,146$2,569,954$2,372,507$3,260,718
69$3,615,113$2,629,052$2,385,157$3,459,580
70$3,914,920$2,688,942$2,396,125$3,675,183
71$4,243,136$2,749,594$2,405,290$3,909,151
72$4,602,590$2,810,978$2,412,521$4,163,275
73$4,996,399$2,873,060$2,417,684$4,439,527
74$5,427,992$2,935,800$2,420,637$4,740,076
75$5,901,149$2,999,157$2,421,231$5,067,315
76$6,420,033$3,063,082$2,419,309$5,423,877
77$6,989,228$3,127,525$2,414,707$5,812,664
78$7,613,782$3,192,427$2,407,253$6,236,873
79$8,299,259$3,257,726$2,396,766$6,700,024
80$9,051,783$3,323,354$2,383,058$7,205,998
81$9,878,103$3,389,237$2,365,929$7,759,069
82$10,785,654$3,455,294$2,345,172$8,363,947
83$11,782,625$3,521,438$2,320,569$9,025,820
84$12,878,037$3,587,572$2,291,892$9,750,407
85$14,081,829$3,653,595$2,258,903$10,544,008
86$15,404,950$3,719,396$2,221,351$11,413,566
87$16,859,463$3,784,854$2,178,974$12,366,731
88$18,458,657$3,849,841$2,131,498$13,411,932
89$20,217,174$3,914,217$2,078,638$14,558,460
90$22,151,145$3,977,834$2,020,092$15,816,552
91$24,278,344$4,040,530$1,955,547$17,197,490
92$26,618,352$4,102,133$1,884,675$18,713,707
93$29,192,745$4,162,458$1,807,132$20,378,902
94$32,025,295$4,221,308$1,722,561$22,208,176
95$35,142,193$4,278,471$1,630,585$24,218,167
96$38,572,301$4,333,720$1,530,814$26,427,215
97$42,347,416$4,386,812$1,422,836$28,855,529
98$46,502,576$4,437,490$1,306,225$31,525,381
99$51,076,387$4,485,476$1,180,532$34,461,316
100$56,111,390$4,530,475$1,045,291$37,690,387