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%16.7%
1 years$184,977$183,329$181,722$180,153$178,621$173,739
2 years$91,573$89,867$88,215$86,612$85,057$80,175
3 years$60,442$58,729$57,081$55,493$53,964$49,233
4 years$44,880$43,172$41,540$39,980$38,488$33,945
5 years$35,545$33,848$32,237$30,708$29,258$24,916
6 years$29,324$27,639$26,052$24,558$23,151$19,014
7 years$24,882$23,211$21,649$20,190$18,828$14,896
8 years$21,552$19,896$18,360$16,937$15,619$11,891
9 years$18,963$17,323$15,814$14,427$13,154$9,625
10 years$16,893$15,270$13,787$12,436$11,208$7,874
11 years$15,201$13,594$12,138$10,823$9,639$6,495
12 years$13,792$12,201$10,772$9,493$8,353$5,393
13 years$12,600$11,026$9,624$8,381$7,284$4,501
14 years$11,580$10,022$8,647$7,440$6,385$3,773
15 years$10,696$9,156$7,807$6,635$5,622$3,174
16 years$9,924$8,400$7,078$5,941$4,969$2,678
17 years$9,243$7,736$6,441$5,338$4,406$2,265
18 years$8,639$7,149$5,880$4,810$3,917$1,919
19 years$8,099$6,625$5,383$4,347$3,491$1,629
20 years$7,613$6,157$4,940$3,937$3,119$1,385
21 years$7,174$5,735$4,544$3,573$2,791$1,179
22 years$6,776$5,353$4,188$3,249$2,502$1,004
23 years$6,413$5,007$3,867$2,959$2,246$856
24 years$6,080$4,691$3,576$2,698$2,018$731
25 years$5,775$4,402$3,312$2,464$1,816$624
26 years$5,494$4,137$3,072$2,253$1,636$533
27 years$5,234$3,894$2,853$2,062$1,475$455
28 years$4,992$3,669$2,652$1,890$1,331$389
29 years$4,768$3,461$2,468$1,733$1,202$333
30 years$4,560$3,269$2,299$1,590$1,086$285
31 years$4,365$3,090$2,143$1,461$982$244
32 years$4,182$2,924$1,999$1,342$888$209
33 years$4,012$2,769$1,867$1,234$804$179
34 years$3,851$2,624$1,744$1,136$728$153
35 years$3,700$2,489$1,631$1,045$659$131
36 years$3,558$2,363$1,526$963$597$112
37 years$3,423$2,244$1,428$887$541$96
38 years$3,296$2,132$1,337$818$491$82
39 years$3,176$2,028$1,253$754$445$70
40 years$3,062$1,929$1,174$695$404$60
41 years$2,954$1,836$1,101$642$366$52
42 years$2,852$1,749$1,033$592$332$44
43 years$2,754$1,666$969$547$302$38
44 years$2,661$1,588$910$505$274$33
45 years$2,573$1,515$854$466$248$28
46 years$2,489$1,445$802$431$226$24
47 years$2,408$1,379$754$398$205$20
48 years$2,331$1,316$708$368$186$18
49 years$2,257$1,257$666$340$169$15
50 years$2,187$1,201$626$314$153$13

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 $4,635 every year, while hoping to spend $48,144 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: 51/24/25 Blend
63$2,240,000$2,240,000$2,240,000$2,240,000
64$2,473,261$2,354,541$2,319,821$2,581,840
65$2,674,309$2,418,689$2,346,310$2,721,868
66$2,894,250$2,484,366$2,372,073$2,868,787
67$3,134,961$2,551,597$2,397,035$3,027,567
68$3,398,507$2,620,406$2,421,116$3,199,354
69$3,687,164$2,690,815$2,444,233$3,385,412
70$4,003,437$2,762,848$2,466,297$3,587,132
71$4,350,086$2,836,526$2,487,216$3,806,046
72$4,730,150$2,911,870$2,506,893$4,043,842
73$5,146,975$2,988,902$2,525,224$4,302,381
74$5,604,249$3,067,640$2,542,101$4,583,711
75$6,106,031$3,148,103$2,557,410$4,890,089
76$6,656,795$3,230,309$2,571,032$5,224,004
77$7,261,467$3,314,273$2,582,841$5,588,195
78$7,925,475$3,400,011$2,592,704$5,985,683
79$8,654,796$3,487,534$2,600,483$6,419,796
80$9,456,018$3,576,855$2,606,031$6,894,199
81$10,336,394$3,667,984$2,609,196$7,412,934
82$11,303,919$3,760,928$2,609,816$7,980,453
83$12,367,397$3,855,692$2,607,724$8,601,663
84$13,536,530$3,952,279$2,602,741$9,281,973
85$14,822,006$4,050,691$2,594,683$10,027,340
86$16,235,601$4,150,924$2,583,354$10,844,332
87$17,790,286$4,252,974$2,568,551$11,740,188
88$19,500,358$4,356,832$2,550,060$12,722,882
89$21,381,564$4,462,487$2,527,656$13,801,206
90$23,451,256$4,569,921$2,501,106$14,984,847
91$25,728,553$4,679,116$2,470,162$16,284,482
92$28,234,521$4,790,048$2,434,567$17,711,878
93$30,992,369$4,902,688$2,394,052$19,280,003
94$34,027,672$5,017,001$2,348,335$21,003,149
95$37,368,610$5,132,950$2,297,119$22,897,068
96$41,046,233$5,250,488$2,240,097$24,979,119
97$45,094,752$5,369,566$2,176,944$27,268,434
98$49,551,867$5,490,125$2,107,322$29,786,099
99$54,459,118$5,612,102$2,030,878$32,555,354
100$59,862,277$5,735,423$1,947,241$35,601,809