Can I retire at age 64 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$184,977$183,329$181,722$180,153$178,621$176,243
2 years$91,573$89,867$88,215$86,612$85,057$82,665
3 years$60,442$58,729$57,081$55,493$53,964$51,632
4 years$44,880$43,172$41,540$39,980$38,488$36,234
5 years$35,545$33,848$32,237$30,708$29,258$27,089
6 years$29,324$27,639$26,052$24,558$23,151$21,069
7 years$24,882$23,211$21,649$20,190$18,828$16,835
8 years$21,552$19,896$18,360$16,937$15,619$13,714
9 years$18,963$17,323$15,814$14,427$13,154$11,336
10 years$16,893$15,270$13,787$12,436$11,208$9,476
11 years$15,201$13,594$12,138$10,823$9,639$7,991
12 years$13,792$12,201$10,772$9,493$8,353$6,787
13 years$12,600$11,026$9,624$8,381$7,284$5,799
14 years$11,580$10,022$8,647$7,440$6,385$4,978
15 years$10,696$9,156$7,807$6,635$5,622$4,290
16 years$9,924$8,400$7,078$5,941$4,969$3,710
17 years$9,243$7,736$6,441$5,338$4,406$3,218
18 years$8,639$7,149$5,880$4,810$3,917$2,797
19 years$8,099$6,625$5,383$4,347$3,491$2,437
20 years$7,613$6,157$4,940$3,937$3,119$2,127
21 years$7,174$5,735$4,544$3,573$2,791$1,859
22 years$6,776$5,353$4,188$3,249$2,502$1,627
23 years$6,413$5,007$3,867$2,959$2,246$1,426
24 years$6,080$4,691$3,576$2,698$2,018$1,251
25 years$5,775$4,402$3,312$2,464$1,816$1,098
26 years$5,494$4,137$3,072$2,253$1,636$965
27 years$5,234$3,894$2,853$2,062$1,475$848
28 years$4,992$3,669$2,652$1,890$1,331$746
29 years$4,768$3,461$2,468$1,733$1,202$656
30 years$4,560$3,269$2,299$1,590$1,086$578
31 years$4,365$3,090$2,143$1,461$982$509
32 years$4,182$2,924$1,999$1,342$888$449
33 years$4,012$2,769$1,867$1,234$804$395
34 years$3,851$2,624$1,744$1,136$728$349
35 years$3,700$2,489$1,631$1,045$659$307
36 years$3,558$2,363$1,526$963$597$271
37 years$3,423$2,244$1,428$887$541$239
38 years$3,296$2,132$1,337$818$491$211
39 years$3,176$2,028$1,253$754$445$186
40 years$3,062$1,929$1,174$695$404$164
41 years$2,954$1,836$1,101$642$366$145
42 years$2,852$1,749$1,033$592$332$128
43 years$2,754$1,666$969$547$302$113
44 years$2,661$1,588$910$505$274$100
45 years$2,573$1,515$854$466$248$88
46 years$2,489$1,445$802$431$226$78
47 years$2,408$1,379$754$398$205$69
48 years$2,331$1,316$708$368$186$61
49 years$2,257$1,257$666$340$169$54
50 years$2,187$1,201$626$314$153$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,240,000, adding $4,396 every year, while hoping to spend $39,649 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: 66/9/25 Blend
63$2,240,000$2,240,000$2,240,000$2,240,000
64$2,473,014$2,354,294$2,319,574$2,619,899
65$2,683,076$2,427,469$2,355,094$2,792,509
66$2,913,234$2,502,900$2,390,475$2,976,277
67$3,165,498$2,580,656$2,425,670$3,176,298
68$3,442,080$2,660,808$2,460,630$3,394,174
69$3,745,413$2,743,430$2,495,303$3,631,671
70$4,078,183$2,828,595$2,529,633$3,890,732
71$4,443,343$2,916,382$2,563,561$4,173,499
72$4,844,150$3,006,870$2,597,026$4,482,331
73$5,284,187$3,100,140$2,629,960$4,819,826
74$5,767,405$3,196,278$2,662,294$5,188,847
75$6,298,154$3,295,370$2,693,955$5,592,548
76$6,881,228$3,397,505$2,724,865$6,034,403
77$7,521,906$3,502,776$2,754,941$6,518,241
78$8,226,005$3,611,277$2,784,096$7,048,277
79$8,999,934$3,723,105$2,812,240$7,629,160
80$9,850,752$3,838,362$2,839,275$8,266,008
81$10,786,238$3,957,151$2,865,099$8,964,462
82$11,814,960$4,079,577$2,889,606$9,730,737
83$12,946,361$4,205,751$2,912,682$10,571,682
84$14,190,842$4,335,785$2,934,210$11,494,843
85$15,559,864$4,469,796$2,954,062$12,508,534
86$17,066,056$4,607,901$2,972,109$13,621,916
87$18,723,331$4,750,226$2,988,212$14,845,087
88$20,547,019$4,896,895$3,002,225$16,189,170
89$22,554,011$5,048,039$3,013,996$17,666,423
90$24,762,919$5,203,791$3,023,363$19,290,355
91$27,194,250$5,364,290$3,030,159$21,075,851
92$29,870,600$5,529,677$3,034,206$23,039,312
93$32,816,868$5,700,098$3,035,319$25,198,815
94$36,060,489$5,875,703$3,033,302$27,574,276
95$39,631,692$6,056,646$3,027,952$30,187,646
96$43,563,789$6,243,086$3,019,052$33,063,111
97$47,893,484$6,435,186$3,006,379$36,227,325
98$52,661,223$6,633,113$2,989,696$39,709,659
99$57,911,573$6,837,041$2,968,756$43,542,483
100$63,693,644$7,047,147$2,943,301$47,761,464