Can I retire at age 64 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$198,190$196,424$194,702$193,021$191,379$189,935
2 years$98,114$96,286$94,516$92,799$91,133$89,676
3 years$64,759$62,924$61,158$59,457$57,819$56,395
4 years$48,086$46,256$44,507$42,835$41,237$39,858
5 years$38,084$36,265$34,539$32,902$31,347$30,017
6 years$31,418$29,613$27,913$26,312$24,804$23,523
7 years$26,659$24,869$23,196$21,632$20,172$18,942
8 years$23,091$21,318$19,672$18,147$16,735$15,555
9 years$20,318$18,561$16,943$15,457$14,093$12,964
10 years$18,100$16,360$14,772$13,324$12,008$10,928
11 years$16,287$14,565$13,005$11,596$10,327$9,297
12 years$14,777$13,072$11,541$10,171$8,950$7,967
13 years$13,500$11,814$10,311$8,980$7,804$6,868
14 years$12,407$10,738$9,265$7,971$6,841$5,951
15 years$11,460$9,810$8,365$7,109$6,023$5,178
16 years$10,633$9,000$7,584$6,365$5,324$4,521
17 years$9,904$8,289$6,901$5,719$4,720$3,959
18 years$9,256$7,659$6,300$5,154$4,197$3,477
19 years$8,677$7,099$5,767$4,657$3,741$3,060
20 years$8,157$6,596$5,293$4,218$3,341$2,698
21 years$7,687$6,144$4,868$3,828$2,990$2,383
22 years$7,260$5,735$4,487$3,481$2,680$2,108
23 years$6,871$5,364$4,143$3,170$2,406$1,867
24 years$6,515$5,026$3,832$2,891$2,163$1,655
25 years$6,188$4,717$3,549$2,640$1,946$1,469
26 years$5,886$4,433$3,291$2,414$1,753$1,305
27 years$5,607$4,172$3,056$2,210$1,580$1,160
28 years$5,349$3,931$2,841$2,025$1,426$1,032
29 years$5,109$3,708$2,644$1,857$1,288$919
30 years$4,885$3,502$2,463$1,704$1,163$818
31 years$4,677$3,311$2,296$1,565$1,052$729
32 years$4,481$3,133$2,142$1,438$951$650
33 years$4,298$2,967$2,000$1,323$861$579
34 years$4,126$2,812$1,869$1,217$780$517
35 years$3,964$2,667$1,747$1,120$706$461
36 years$3,812$2,531$1,634$1,032$640$412
37 years$3,668$2,404$1,530$951$580$367
38 years$3,532$2,285$1,433$876$526$328
39 years$3,403$2,173$1,342$808$477$293
40 years$3,281$2,067$1,258$745$432$262
41 years$3,165$1,968$1,180$687$392$234
42 years$3,056$1,874$1,107$634$356$209
43 years$2,951$1,785$1,038$586$323$187
44 years$2,852$1,702$975$541$293$167
45 years$2,757$1,623$915$499$266$149
46 years$2,666$1,548$860$461$242$133
47 years$2,580$1,477$808$426$219$119
48 years$2,498$1,410$759$394$199$106
49 years$2,419$1,347$713$364$181$95
50 years$2,343$1,287$671$336$164$85

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,400,000, adding $5,753 every year, while hoping to spend $57,297 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: 49/42/9 Blend
63$2,400,000$2,400,000$2,400,000$2,400,000
64$2,650,734$2,523,534$2,486,334$2,773,992
65$2,860,146$2,586,224$2,508,663$2,921,689
66$3,088,996$2,650,065$2,529,819$3,075,500
67$3,339,209$2,715,053$2,549,703$3,241,238
68$3,612,901$2,781,183$2,568,210$3,420,033
69$3,912,401$2,848,445$2,585,230$3,613,129
70$4,240,276$2,916,830$2,600,645$3,821,898
71$4,599,352$2,986,322$2,614,335$4,047,847
72$4,992,741$3,056,907$2,626,170$4,292,638
73$5,423,870$3,128,564$2,636,016$4,558,101
74$5,896,512$3,201,271$2,643,730$4,846,251
75$6,414,825$3,275,003$2,649,164$5,159,306
76$6,983,388$3,349,728$2,652,161$5,499,713
77$7,607,243$3,425,414$2,652,558$5,870,163
78$8,291,945$3,502,023$2,650,182$6,273,625
79$9,043,612$3,579,511$2,644,852$6,713,366
80$9,868,985$3,657,832$2,636,379$7,192,987
81$10,775,489$3,736,932$2,624,565$7,716,457
82$11,771,301$3,816,755$2,609,200$8,288,147
83$12,865,433$3,897,235$2,590,068$8,912,874
84$14,067,810$3,978,302$2,566,938$9,595,946
85$15,389,368$4,059,880$2,539,572$10,343,212
86$16,842,154$4,141,885$2,507,718$11,161,116
87$18,439,441$4,224,224$2,471,113$12,056,763
88$20,195,852$4,306,799$2,429,484$13,037,978
89$22,127,498$4,389,501$2,382,540$14,113,387
90$24,252,129$4,472,213$2,329,982$15,292,495
91$26,589,303$4,554,808$2,271,493$16,585,778
92$29,160,567$4,637,150$2,206,743$18,004,781
93$31,989,664$4,719,089$2,135,388$19,562,227
94$35,102,752$4,800,467$2,057,067$21,272,138
95$38,528,655$4,881,112$1,971,400$23,149,966
96$42,299,131$4,960,839$1,877,995$25,212,744
97$46,449,173$5,039,451$1,776,438$27,479,242
98$51,017,338$5,116,733$1,666,299$29,970,145
99$56,046,112$5,192,459$1,547,125$32,708,254
100$61,582,309$5,266,383$1,418,447$35,718,696