Can I retire at age 64 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$191,583$189,877$188,212$186,587$185,000$181,935
2 years$94,843$93,077$91,365$89,705$88,095$85,016
3 years$62,601$60,827$59,119$57,475$55,891$52,894
4 years$46,483$44,714$43,024$41,408$39,862$36,970
5 years$36,814$35,056$33,388$31,805$30,303$27,524
6 years$30,371$28,626$26,983$25,435$23,977$21,315
7 years$25,770$24,040$22,423$20,911$19,500$16,955
8 years$22,321$20,607$19,016$17,542$16,177$13,749
9 years$19,640$17,942$16,379$14,942$13,624$11,311
10 years$17,497$15,815$14,279$12,880$11,608$9,409
11 years$15,744$14,079$12,571$11,209$9,983$7,895
12 years$14,284$12,637$11,157$9,832$8,651$6,671
13 years$13,050$11,420$9,968$8,680$7,544$5,670
14 years$11,994$10,380$8,956$7,705$6,613$4,841
15 years$11,078$9,483$8,086$6,872$5,823$4,150
16 years$10,278$8,700$7,331$6,153$5,146$3,569
17 years$9,573$8,013$6,671$5,528$4,563$3,078
18 years$8,947$7,404$6,090$4,982$4,057$2,660
19 years$8,388$6,862$5,575$4,502$3,616$2,304
20 years$7,885$6,376$5,116$4,077$3,230$1,999
21 years$7,431$5,939$4,706$3,700$2,891$1,737
22 years$7,018$5,544$4,337$3,365$2,591$1,511
23 years$6,642$5,185$4,005$3,064$2,326$1,316
24 years$6,298$4,858$3,704$2,795$2,090$1,147
25 years$5,981$4,559$3,430$2,552$1,881$1,000
26 years$5,690$4,285$3,182$2,334$1,694$873
27 years$5,420$4,033$2,954$2,136$1,528$763
28 years$5,171$3,800$2,746$1,957$1,378$667
29 years$4,939$3,585$2,556$1,795$1,245$583
30 years$4,723$3,386$2,381$1,647$1,125$510
31 years$4,521$3,200$2,219$1,513$1,017$446
32 years$4,332$3,028$2,071$1,390$920$391
33 years$4,155$2,868$1,933$1,278$832$342
34 years$3,989$2,718$1,807$1,176$754$299
35 years$3,832$2,578$1,689$1,083$683$262
36 years$3,685$2,447$1,580$997$618$230
37 years$3,546$2,324$1,479$919$561$201
38 years$3,414$2,209$1,385$847$508$176
39 years$3,290$2,100$1,297$781$461$155
40 years$3,172$1,998$1,216$720$418$136
41 years$3,060$1,902$1,140$665$379$119
42 years$2,954$1,811$1,070$613$344$104
43 years$2,853$1,726$1,004$566$312$91
44 years$2,756$1,645$942$523$283$80
45 years$2,665$1,569$885$483$257$70
46 years$2,577$1,497$831$446$234$62
47 years$2,494$1,428$781$412$212$54
48 years$2,414$1,363$734$381$193$47
49 years$2,338$1,302$690$352$175$42
50 years$2,265$1,244$648$325$159$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,320,000, adding $6,976 every year, while hoping to spend $35,978 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: 78/9/13 Blend
63$2,320,000$2,320,000$2,320,000$2,320,000
64$2,563,836$2,440,876$2,404,916$2,756,691
65$2,787,067$2,522,198$2,447,200$2,965,946
66$3,031,861$2,606,300$2,489,695$3,190,118
67$3,300,381$2,693,279$2,532,370$3,434,982
68$3,595,007$2,783,236$2,575,191$3,702,590
69$3,918,362$2,876,279$2,618,124$3,995,202
70$4,273,333$2,972,515$2,661,130$4,315,306
71$4,663,103$3,072,058$2,704,168$4,665,641
72$5,091,178$3,175,027$2,747,196$5,049,228
73$5,561,418$3,281,543$2,790,166$5,469,389
74$6,078,077$3,391,733$2,833,031$5,929,787
75$6,645,841$3,505,729$2,875,738$6,434,455
76$7,269,873$3,623,665$2,918,232$6,987,837
77$7,955,860$3,745,685$2,960,452$7,594,826
78$8,710,068$3,871,934$3,002,338$8,260,815
79$9,539,401$4,002,565$3,043,822$8,991,742
80$10,451,464$4,137,735$3,084,834$9,794,151
81$11,454,638$4,277,608$3,125,301$10,675,250
82$12,558,154$4,422,354$3,165,142$11,642,983
83$13,772,187$4,572,150$3,204,275$12,706,097
84$15,107,943$4,727,179$3,242,611$13,874,233
85$16,577,773$4,887,631$3,280,058$15,158,011
86$18,195,283$5,053,702$3,316,518$16,569,133
87$19,975,467$5,225,598$3,351,886$18,120,493
88$21,934,843$5,403,531$3,386,053$19,826,295
89$24,091,616$5,587,722$3,418,904$21,702,190
90$26,465,840$5,778,401$3,450,317$23,765,425
91$29,079,618$5,975,804$3,480,164$26,035,002
92$31,957,299$6,180,179$3,508,311$28,531,857
93$35,125,719$6,391,783$3,534,614$31,279,062
94$38,614,444$6,610,882$3,558,925$34,302,035
95$42,456,054$6,837,752$3,581,086$37,628,788
96$46,686,451$7,072,682$3,600,933$41,290,184
97$51,345,195$7,315,969$3,618,290$45,320,234
98$56,475,878$7,567,925$3,632,975$49,756,411
99$62,126,535$7,828,870$3,644,797$54,640,010
100$68,350,098$8,099,141$3,653,554$60,016,534