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

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$191,583$189,877$188,212$186,587$185,000$183,527
2 years$94,843$93,077$91,365$89,705$88,095$86,610
3 years$62,601$60,827$59,119$57,475$55,891$54,440
4 years$46,483$44,714$43,024$41,408$39,862$38,456
5 years$36,814$35,056$33,388$31,805$30,303$28,946
6 years$30,371$28,626$26,983$25,435$23,977$22,672
7 years$25,770$24,040$22,423$20,911$19,500$18,247
8 years$22,321$20,607$19,016$17,542$16,177$14,976
9 years$19,640$17,942$16,379$14,942$13,624$12,474
10 years$17,497$15,815$14,279$12,880$11,608$10,509
11 years$15,744$14,079$12,571$11,209$9,983$8,934
12 years$14,284$12,637$11,157$9,832$8,651$7,651
13 years$13,050$11,420$9,968$8,680$7,544$6,592
14 years$11,994$10,380$8,956$7,705$6,613$5,708
15 years$11,078$9,483$8,086$6,872$5,823$4,963
16 years$10,278$8,700$7,331$6,153$5,146$4,330
17 years$9,573$8,013$6,671$5,528$4,563$3,790
18 years$8,947$7,404$6,090$4,982$4,057$3,326
19 years$8,388$6,862$5,575$4,502$3,616$2,925
20 years$7,885$6,376$5,116$4,077$3,230$2,577
21 years$7,431$5,939$4,706$3,700$2,891$2,274
22 years$7,018$5,544$4,337$3,365$2,591$2,010
23 years$6,642$5,185$4,005$3,064$2,326$1,779
24 years$6,298$4,858$3,704$2,795$2,090$1,576
25 years$5,981$4,559$3,430$2,552$1,881$1,398
26 years$5,690$4,285$3,182$2,334$1,694$1,241
27 years$5,420$4,033$2,954$2,136$1,528$1,102
28 years$5,171$3,800$2,746$1,957$1,378$980
29 years$4,939$3,585$2,556$1,795$1,245$871
30 years$4,723$3,386$2,381$1,647$1,125$775
31 years$4,521$3,200$2,219$1,513$1,017$690
32 years$4,332$3,028$2,071$1,390$920$615
33 years$4,155$2,868$1,933$1,278$832$548
34 years$3,989$2,718$1,807$1,176$754$488
35 years$3,832$2,578$1,689$1,083$683$435
36 years$3,685$2,447$1,580$997$618$388
37 years$3,546$2,324$1,479$919$561$346
38 years$3,414$2,209$1,385$847$508$309
39 years$3,290$2,100$1,297$781$461$276
40 years$3,172$1,998$1,216$720$418$246
41 years$3,060$1,902$1,140$665$379$220
42 years$2,954$1,811$1,070$613$344$196
43 years$2,853$1,726$1,004$566$312$175
44 years$2,756$1,645$942$523$283$156
45 years$2,665$1,569$885$483$257$140
46 years$2,577$1,497$831$446$234$125
47 years$2,494$1,428$781$412$212$111
48 years$2,414$1,363$734$381$193$99
49 years$2,338$1,302$690$352$175$89
50 years$2,265$1,244$648$325$159$79

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 $5,016 every year, while hoping to spend $28,115 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: 41/35/24 Blend
63$2,320,000$2,320,000$2,320,000$2,320,000
64$2,561,814$2,438,854$2,402,894$2,648,571
65$2,793,205$2,528,444$2,453,477$2,800,909
66$3,047,255$2,621,481$2,504,812$2,962,649
67$3,326,247$2,718,105$2,556,895$3,137,162
68$3,632,693$2,818,461$2,609,720$3,325,636
69$3,969,363$2,922,701$2,663,280$3,529,376
70$4,339,306$3,030,981$2,717,568$3,749,816
71$4,745,883$3,143,467$2,772,574$3,988,532
72$5,192,795$3,260,329$2,828,288$4,247,258
73$5,684,122$3,381,748$2,884,698$4,527,898
74$6,224,357$3,507,907$2,941,789$4,832,549
75$6,818,450$3,639,003$2,999,548$5,163,514
76$7,471,856$3,775,238$3,057,956$5,523,328
77$8,190,583$3,916,823$3,116,996$5,914,779
78$8,981,254$4,063,979$3,176,647$6,340,935
79$9,851,163$4,216,934$3,236,885$6,805,171
80$10,808,347$4,375,930$3,297,687$7,311,201
81$11,861,664$4,541,217$3,359,025$7,863,110
82$13,020,872$4,713,054$3,420,871$8,465,397
83$14,296,723$4,891,716$3,483,191$9,123,013
84$15,701,063$5,077,484$3,545,953$9,841,405
85$17,246,948$5,270,657$3,609,119$10,626,571
86$18,948,761$5,471,544$3,672,648$11,485,115
87$20,822,351$5,680,466$3,736,498$12,424,304
88$22,885,183$5,897,761$3,800,623$13,452,144
89$25,156,501$6,123,781$3,864,974$14,577,444
90$27,657,510$6,358,892$3,929,496$15,809,908
91$30,411,576$6,603,477$3,994,134$17,160,219
92$33,444,445$6,857,937$4,058,827$18,640,143
93$36,784,491$7,122,688$4,123,509$20,262,636
94$40,462,976$7,398,166$4,188,114$22,041,966
95$44,514,350$7,684,827$4,252,566$23,993,847
96$48,976,575$7,983,144$4,316,788$26,135,586
97$53,891,482$8,293,615$4,380,697$28,486,246
98$59,305,167$8,616,756$4,444,205$31,066,822
99$65,268,427$8,953,110$4,507,218$33,900,439
100$71,837,233$9,303,239$4,569,637$37,012,571