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%17.2%
1 years$184,977$183,329$181,722$180,153$178,621$173,389
2 years$91,573$89,867$88,215$86,612$85,057$79,829
3 years$60,442$58,729$57,081$55,493$53,964$48,903
4 years$44,880$43,172$41,540$39,980$38,488$33,632
5 years$35,545$33,848$32,237$30,708$29,258$24,622
6 years$29,324$27,639$26,052$24,558$23,151$18,738
7 years$24,882$23,211$21,649$20,190$18,828$14,638
8 years$21,552$19,896$18,360$16,937$15,619$11,651
9 years$18,963$17,323$15,814$14,427$13,154$9,402
10 years$16,893$15,270$13,787$12,436$11,208$7,667
11 years$15,201$13,594$12,138$10,823$9,639$6,304
12 years$13,792$12,201$10,772$9,493$8,353$5,217
13 years$12,600$11,026$9,624$8,381$7,284$4,340
14 years$11,580$10,022$8,647$7,440$6,385$3,626
15 years$10,696$9,156$7,807$6,635$5,622$3,039
16 years$9,924$8,400$7,078$5,941$4,969$2,555
17 years$9,243$7,736$6,441$5,338$4,406$2,153
18 years$8,639$7,149$5,880$4,810$3,917$1,818
19 years$8,099$6,625$5,383$4,347$3,491$1,537
20 years$7,613$6,157$4,940$3,937$3,119$1,302
21 years$7,174$5,735$4,544$3,573$2,791$1,104
22 years$6,776$5,353$4,188$3,249$2,502$937
23 years$6,413$5,007$3,867$2,959$2,246$796
24 years$6,080$4,691$3,576$2,698$2,018$676
25 years$5,775$4,402$3,312$2,464$1,816$575
26 years$5,494$4,137$3,072$2,253$1,636$489
27 years$5,234$3,894$2,853$2,062$1,475$416
28 years$4,992$3,669$2,652$1,890$1,331$355
29 years$4,768$3,461$2,468$1,733$1,202$302
30 years$4,560$3,269$2,299$1,590$1,086$257
31 years$4,365$3,090$2,143$1,461$982$219
32 years$4,182$2,924$1,999$1,342$888$187
33 years$4,012$2,769$1,867$1,234$804$159
34 years$3,851$2,624$1,744$1,136$728$136
35 years$3,700$2,489$1,631$1,045$659$116
36 years$3,558$2,363$1,526$963$597$99
37 years$3,423$2,244$1,428$887$541$84
38 years$3,296$2,132$1,337$818$491$72
39 years$3,176$2,028$1,253$754$445$61
40 years$3,062$1,929$1,174$695$404$52
41 years$2,954$1,836$1,101$642$366$45
42 years$2,852$1,749$1,033$592$332$38
43 years$2,754$1,666$969$547$302$32
44 years$2,661$1,588$910$505$274$28
45 years$2,573$1,515$854$466$248$24
46 years$2,489$1,445$802$431$226$20
47 years$2,408$1,379$754$398$205$17
48 years$2,331$1,316$708$368$186$15
49 years$2,257$1,257$666$340$169$13
50 years$2,187$1,201$626$314$153$11

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 $6,423 every year, while hoping to spend $59,537 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: 52/42/6 Blend
63$2,240,000$2,240,000$2,240,000$2,240,000
64$2,475,105$2,356,385$2,321,665$2,599,976
65$2,664,219$2,408,501$2,336,094$2,737,494
66$2,870,627$2,461,176$2,349,011$2,879,933
67$3,096,031$2,514,373$2,360,302$3,033,391
68$3,342,302$2,568,053$2,369,849$3,198,918
69$3,611,503$2,622,174$2,377,525$3,377,667
70$3,905,904$2,676,688$2,383,199$3,570,911
71$4,228,003$2,731,543$2,386,734$3,780,050
72$4,580,553$2,786,682$2,387,983$4,006,628
73$4,966,583$2,842,043$2,386,794$4,252,344
74$5,389,432$2,897,561$2,383,009$4,519,071
75$5,852,773$2,953,160$2,376,459$4,808,874
76$6,360,654$3,008,763$2,366,968$5,124,025
77$6,917,532$3,064,284$2,354,353$5,467,029
78$7,528,317$3,119,630$2,338,420$5,840,649
79$8,198,415$3,174,702$2,318,967$6,247,925
80$8,933,783$3,229,392$2,295,782$6,692,211
81$9,740,981$3,283,584$2,268,643$7,177,201
82$10,627,236$3,337,154$2,237,317$7,706,968
83$11,600,508$3,389,969$2,201,562$8,285,999
84$12,669,566$3,441,884$2,161,120$8,919,241
85$13,844,071$3,492,746$2,115,728$9,612,145
86$15,134,666$3,542,390$2,065,104$10,370,721
87$16,553,074$3,590,639$2,008,956$11,201,591
88$18,112,211$3,637,304$1,946,981$12,112,054
89$19,826,308$3,682,184$1,878,856$13,110,157
90$21,711,043$3,725,062$1,804,249$14,204,768
91$23,783,688$3,765,709$1,722,810$15,405,663
92$26,063,274$3,803,878$1,634,174$16,723,615
93$28,570,767$3,839,307$1,537,958$18,170,500
94$31,329,269$3,871,717$1,433,763$19,759,410
95$34,364,234$3,900,810$1,321,174$21,504,773
96$37,703,705$3,926,269$1,199,752$23,422,494
97$41,378,584$3,947,757$1,069,044$25,530,103
98$45,422,916$3,964,914$928,575$27,846,923
99$49,874,218$3,977,359$777,846$30,394,253
100$54,773,825$3,984,686$616,340$33,195,570