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%14.5%
1 years$191,583$189,877$188,212$186,587$185,000$181,562
2 years$94,843$93,077$91,365$89,705$88,095$84,644
3 years$62,601$60,827$59,119$57,475$55,891$52,535
4 years$46,483$44,714$43,024$41,408$39,862$36,626
5 years$36,814$35,056$33,388$31,805$30,303$27,196
6 years$30,371$28,626$26,983$25,435$23,977$21,005
7 years$25,770$24,040$22,423$20,911$19,500$16,661
8 years$22,321$20,607$19,016$17,542$16,177$13,472
9 years$19,640$17,942$16,379$14,942$13,624$11,050
10 years$17,497$15,815$14,279$12,880$11,608$9,163
11 years$15,744$14,079$12,571$11,209$9,983$7,665
12 years$14,284$12,637$11,157$9,832$8,651$6,456
13 years$13,050$11,420$9,968$8,680$7,544$5,469
14 years$11,994$10,380$8,956$7,705$6,613$4,654
15 years$11,078$9,483$8,086$6,872$5,823$3,975
16 years$10,278$8,700$7,331$6,153$5,146$3,407
17 years$9,573$8,013$6,671$5,528$4,563$2,927
18 years$8,947$7,404$6,090$4,982$4,057$2,521
19 years$8,388$6,862$5,575$4,502$3,616$2,176
20 years$7,885$6,376$5,116$4,077$3,230$1,880
21 years$7,431$5,939$4,706$3,700$2,891$1,628
22 years$7,018$5,544$4,337$3,365$2,591$1,410
23 years$6,642$5,185$4,005$3,064$2,326$1,223
24 years$6,298$4,858$3,704$2,795$2,090$1,062
25 years$5,981$4,559$3,430$2,552$1,881$923
26 years$5,690$4,285$3,182$2,334$1,694$803
27 years$5,420$4,033$2,954$2,136$1,528$698
28 years$5,171$3,800$2,746$1,957$1,378$608
29 years$4,939$3,585$2,556$1,795$1,245$529
30 years$4,723$3,386$2,381$1,647$1,125$461
31 years$4,521$3,200$2,219$1,513$1,017$402
32 years$4,332$3,028$2,071$1,390$920$350
33 years$4,155$2,868$1,933$1,278$832$305
34 years$3,989$2,718$1,807$1,176$754$266
35 years$3,832$2,578$1,689$1,083$683$232
36 years$3,685$2,447$1,580$997$618$203
37 years$3,546$2,324$1,479$919$561$177
38 years$3,414$2,209$1,385$847$508$154
39 years$3,290$2,100$1,297$781$461$135
40 years$3,172$1,998$1,216$720$418$118
41 years$3,060$1,902$1,140$665$379$103
42 years$2,954$1,811$1,070$613$344$90
43 years$2,853$1,726$1,004$566$312$78
44 years$2,756$1,645$942$523$283$68
45 years$2,665$1,569$885$483$257$60
46 years$2,577$1,497$831$446$234$52
47 years$2,494$1,428$781$412$212$45
48 years$2,414$1,363$734$381$193$40
49 years$2,338$1,302$690$352$175$35
50 years$2,265$1,244$648$325$159$30

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 $5,505 every year, while hoping to spend $29,421 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: 46/36/18 Blend
63$2,320,000$2,320,000$2,320,000$2,320,000
64$2,562,318$2,439,358$2,403,398$2,666,793
65$2,792,371$2,527,583$2,452,609$2,828,494
66$3,044,903$2,619,145$2,502,481$3,000,432
67$3,322,176$2,714,176$2,553,007$3,186,346
68$3,626,682$2,812,815$2,604,177$3,387,549
69$3,961,166$2,915,204$2,655,979$3,605,485
70$4,328,650$3,021,495$2,708,399$3,841,740
71$4,732,466$3,131,842$2,761,425$4,098,060
72$5,176,284$3,246,408$2,815,039$4,376,363
73$5,664,146$3,365,364$2,869,223$4,678,758
74$6,200,506$3,488,884$2,923,960$5,007,568
75$6,790,271$3,617,153$2,979,226$5,365,345
76$7,438,848$3,750,362$3,034,999$5,754,897
77$8,152,193$3,888,712$3,091,254$6,179,315
78$8,936,868$4,032,410$3,147,962$6,641,999
79$9,800,104$4,181,674$3,205,095$7,146,691
80$10,749,869$4,336,730$3,262,619$7,697,510
81$11,794,939$4,497,813$3,320,500$8,298,987
82$12,944,986$4,665,170$3,378,701$8,956,110
83$14,210,668$4,839,056$3,437,180$9,674,373
84$15,603,726$5,019,740$3,495,896$10,459,820
85$17,137,098$5,207,499$3,554,800$11,319,106
86$18,825,041$5,402,625$3,613,845$12,259,559
87$20,683,262$5,605,421$3,672,976$13,289,246
88$22,729,072$5,816,204$3,732,137$14,417,051
89$24,981,541$6,035,302$3,791,268$15,652,755
90$27,461,687$6,263,060$3,850,304$17,007,131
91$30,192,666$6,499,838$3,909,177$18,492,039
92$33,199,997$6,746,009$3,967,813$20,120,543
93$36,511,798$7,001,964$4,026,136$21,907,030
94$40,159,052$7,268,111$4,084,062$23,867,346
95$44,175,902$7,544,875$4,141,505$26,018,942
96$48,599,971$7,832,701$4,198,372$28,381,041
97$53,472,716$8,132,051$4,254,566$30,974,815
98$58,839,820$8,443,409$4,309,981$33,823,586
99$64,751,625$8,767,279$4,364,509$36,953,042
100$71,263,604$9,104,189$4,418,033$40,391,482