Can I retire at age 64 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$193,235$191,514$189,834$188,195$186,595$184,954
2 years$95,661$93,879$92,153$90,479$88,855$87,201
3 years$63,140$61,351$59,629$57,970$56,373$54,758
4 years$46,883$45,100$43,395$41,764$40,206$38,642
5 years$37,132$35,359$33,676$32,079$30,564$29,056
6 years$30,633$28,873$27,215$25,654$24,184$22,734
7 years$25,992$24,247$22,616$21,092$19,668$18,276
8 years$22,514$20,785$19,180$17,693$16,317$14,983
9 years$19,810$18,097$16,520$15,071$13,741$12,465
10 years$17,647$15,951$14,402$12,991$11,708$10,489
11 years$15,880$14,201$12,680$11,306$10,069$8,906
12 years$14,408$12,746$11,253$9,917$8,726$7,617
13 years$13,163$11,518$10,054$8,755$7,609$6,554
14 years$12,097$10,470$9,033$7,772$6,670$5,668
15 years$11,174$9,564$8,156$6,931$5,873$4,921
16 years$10,367$8,775$7,394$6,206$5,190$4,288
17 years$9,656$8,082$6,729$5,576$4,602$3,748
18 years$9,024$7,468$6,142$5,025$4,092$3,284
19 years$8,460$6,921$5,623$4,541$3,647$2,884
20 years$7,953$6,431$5,161$4,112$3,258$2,537
21 years$7,495$5,991$4,747$3,732$2,915$2,236
22 years$7,078$5,592$4,375$3,394$2,613$1,973
23 years$6,699$5,230$4,039$3,091$2,346$1,744
24 years$6,352$4,900$3,736$2,819$2,108$1,543
25 years$6,033$4,599$3,460$2,574$1,897$1,366
26 years$5,739$4,322$3,209$2,354$1,709$1,211
27 years$5,467$4,067$2,980$2,154$1,541$1,074
28 years$5,215$3,833$2,770$1,974$1,390$953
29 years$4,981$3,616$2,578$1,810$1,255$846
30 years$4,763$3,415$2,401$1,661$1,134$752
31 years$4,560$3,228$2,239$1,526$1,026$668
32 years$4,369$3,054$2,089$1,402$928$594
33 years$4,191$2,893$1,950$1,289$840$528
34 years$4,023$2,741$1,822$1,186$760$470
35 years$3,865$2,600$1,704$1,092$688$419
36 years$3,716$2,468$1,594$1,006$624$373
37 years$3,576$2,344$1,492$927$565$332
38 years$3,444$2,228$1,397$854$513$295
39 years$3,318$2,118$1,309$788$465$263
40 years$3,199$2,015$1,227$726$422$235
41 years$3,086$1,918$1,150$670$382$209
42 years$2,979$1,827$1,079$619$347$186
43 years$2,877$1,741$1,012$571$315$166
44 years$2,780$1,659$950$527$286$148
45 years$2,688$1,582$892$487$260$132
46 years$2,600$1,510$838$450$236$118
47 years$2,516$1,441$787$416$214$105
48 years$2,435$1,375$740$384$194$93
49 years$2,358$1,313$695$355$177$83
50 years$2,285$1,254$654$328$160$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,340,000, adding $6,026 every year, while hoping to spend $40,173 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: 70/9/21 Blend
63$2,340,000$2,340,000$2,340,000$2,340,000
64$2,584,896$2,460,876$2,424,606$2,752,029
65$2,805,811$2,538,715$2,463,086$2,942,200
66$3,047,914$2,619,022$2,501,510$3,144,990
67$3,313,322$2,701,875$2,539,831$3,365,981
68$3,604,369$2,787,355$2,578,004$3,606,968
69$3,923,626$2,875,546$2,615,978$3,869,933
70$4,273,922$2,966,534$2,653,699$4,157,055
71$4,658,376$3,060,409$2,691,112$4,470,735
72$5,080,423$3,157,261$2,728,157$4,813,620
73$5,543,845$3,257,186$2,764,770$5,188,623
74$6,052,812$3,360,282$2,800,883$5,598,954
75$6,611,912$3,466,650$2,836,427$6,048,148
76$7,226,205$3,576,394$2,871,325$6,540,101
77$7,901,262$3,689,621$2,905,498$7,079,103
78$8,643,221$3,806,443$2,938,863$7,669,883
79$9,458,845$3,926,974$2,971,330$8,317,648
80$10,355,585$4,051,333$3,002,807$9,028,137
81$11,341,647$4,179,641$3,033,194$9,807,672
82$12,426,077$4,312,025$3,062,387$10,663,219
83$13,618,837$4,448,614$3,090,278$11,602,451
84$14,930,905$4,589,544$3,116,749$12,633,826
85$16,374,378$4,734,952$3,141,680$13,766,661
86$17,962,581$4,884,981$3,164,943$15,011,221
87$19,710,198$5,039,779$3,186,403$16,378,819
88$21,633,409$5,199,498$3,205,917$17,881,919
89$23,750,039$5,364,296$3,223,338$19,534,254
90$26,079,731$5,534,334$3,238,508$21,350,959
91$28,644,128$5,709,781$3,251,263$23,348,710
92$31,467,078$5,890,810$3,261,429$25,545,880
93$34,574,858$6,077,597$3,268,825$27,962,719
94$37,996,423$6,270,329$3,273,260$30,621,539
95$41,763,678$6,469,195$3,274,534$33,546,925
96$45,911,779$6,674,392$3,272,437$36,765,971
97$50,479,465$6,886,121$3,266,748$40,308,530
98$55,509,422$7,104,593$3,257,236$44,207,501
99$61,048,688$7,330,023$3,243,658$48,499,138
100$67,149,095$7,562,635$3,225,761$53,223,388