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

Use the below retirement simulation to view the chances of a successful retirement.
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%17.6%
1 years$184,977$183,329$181,722$180,153$178,621$173,111
2 years$91,573$89,867$88,215$86,612$85,057$79,555
3 years$60,442$58,729$57,081$55,493$53,964$48,641
4 years$44,880$43,172$41,540$39,980$38,488$33,385
5 years$35,545$33,848$32,237$30,708$29,258$24,389
6 years$29,324$27,639$26,052$24,558$23,151$18,520
7 years$24,882$23,211$21,649$20,190$18,828$14,435
8 years$21,552$19,896$18,360$16,937$15,619$11,462
9 years$18,963$17,323$15,814$14,427$13,154$9,227
10 years$16,893$15,270$13,787$12,436$11,208$7,506
11 years$15,201$13,594$12,138$10,823$9,639$6,156
12 years$13,792$12,201$10,772$9,493$8,353$5,081
13 years$12,600$11,026$9,624$8,381$7,284$4,215
14 years$11,580$10,022$8,647$7,440$6,385$3,512
15 years$10,696$9,156$7,807$6,635$5,622$2,935
16 years$9,924$8,400$7,078$5,941$4,969$2,461
17 years$9,243$7,736$6,441$5,338$4,406$2,067
18 years$8,639$7,149$5,880$4,810$3,917$1,740
19 years$8,099$6,625$5,383$4,347$3,491$1,467
20 years$7,613$6,157$4,940$3,937$3,119$1,239
21 years$7,174$5,735$4,544$3,573$2,791$1,047
22 years$6,776$5,353$4,188$3,249$2,502$886
23 years$6,413$5,007$3,867$2,959$2,246$750
24 years$6,080$4,691$3,576$2,698$2,018$635
25 years$5,775$4,402$3,312$2,464$1,816$539
26 years$5,494$4,137$3,072$2,253$1,636$457
27 years$5,234$3,894$2,853$2,062$1,475$388
28 years$4,992$3,669$2,652$1,890$1,331$329
29 years$4,768$3,461$2,468$1,733$1,202$279
30 years$4,560$3,269$2,299$1,590$1,086$237
31 years$4,365$3,090$2,143$1,461$982$201
32 years$4,182$2,924$1,999$1,342$888$171
33 years$4,012$2,769$1,867$1,234$804$145
34 years$3,851$2,624$1,744$1,136$728$124
35 years$3,700$2,489$1,631$1,045$659$105
36 years$3,558$2,363$1,526$963$597$89
37 years$3,423$2,244$1,428$887$541$76
38 years$3,296$2,132$1,337$818$491$64
39 years$3,176$2,028$1,253$754$445$55
40 years$3,062$1,929$1,174$695$404$47
41 years$2,954$1,836$1,101$642$366$40
42 years$2,852$1,749$1,033$592$332$34
43 years$2,754$1,666$969$547$302$29
44 years$2,661$1,588$910$505$274$24
45 years$2,573$1,515$854$466$248$21
46 years$2,489$1,445$802$431$226$18
47 years$2,408$1,379$754$398$205$15
48 years$2,331$1,316$708$368$186$13
49 years$2,257$1,257$666$340$169$11
50 years$2,187$1,201$626$314$153$9

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 $2,383 every year, while hoping to spend $23,060 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: 73/5/22 Blend
63$2,240,000$2,240,000$2,240,000$2,240,000
64$2,470,938$2,352,218$2,317,498$2,637,867
65$2,698,438$2,442,941$2,370,599$2,839,989
66$2,948,370$2,537,337$2,424,705$3,058,367
67$3,222,998$2,635,560$2,479,827$3,297,047
68$3,524,816$2,737,775$2,535,973$3,558,043
69$3,856,571$2,844,149$2,593,152$3,843,579
70$4,221,290$2,954,861$2,651,371$4,156,098
71$4,622,308$3,070,096$2,710,638$4,498,297
72$5,063,298$3,190,046$2,770,960$4,873,141
73$5,548,310$3,314,913$2,832,342$5,283,900
74$6,081,802$3,444,908$2,894,790$5,734,174
75$6,668,688$3,580,252$2,958,308$6,227,928
76$7,314,383$3,721,173$3,022,901$6,769,530
77$8,024,852$3,867,912$3,088,569$7,363,793
78$8,806,668$4,020,720$3,155,317$8,016,018
79$9,667,071$4,179,859$3,223,144$8,732,044
80$10,614,043$4,345,603$3,292,050$9,518,306
81$11,656,376$4,518,237$3,362,033$10,381,892
82$12,803,757$4,698,062$3,433,092$11,330,609
83$14,066,861$4,885,388$3,505,222$12,373,061
84$15,457,451$5,080,542$3,578,417$13,518,728
85$16,988,488$5,283,866$3,652,671$14,778,051
86$18,674,254$5,495,715$3,727,976$16,162,537
87$20,530,485$5,716,463$3,804,320$17,684,862
88$22,574,524$5,946,498$3,881,694$19,358,996
89$24,825,476$6,186,228$3,960,082$21,200,327
90$27,304,399$6,436,077$4,039,469$23,225,813
91$30,034,494$6,696,491$4,119,837$25,454,139
92$33,041,328$6,967,935$4,201,167$27,905,891
93$36,353,073$7,250,893$4,283,436$30,603,755
94$40,000,774$7,545,874$4,366,618$33,572,725
95$44,018,641$7,853,410$4,450,688$36,840,343
96$48,444,370$8,174,055$4,535,614$40,436,958
97$53,319,503$8,508,391$4,621,364$44,396,011
98$58,689,814$8,857,024$4,707,902$48,754,349
99$64,605,746$9,220,589$4,795,187$53,552,576
100$71,122,884$9,599,750$4,883,179$58,835,434