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

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$198,190$196,424$194,702$193,021$191,379$187,133
2 years$98,114$96,286$94,516$92,799$91,133$86,877
3 years$64,759$62,924$61,158$59,457$57,819$53,686
4 years$48,086$46,256$44,507$42,835$41,237$37,259
5 years$38,084$36,265$34,539$32,902$31,347$27,536
6 years$31,418$29,613$27,913$26,312$24,804$21,163
7 years$26,659$24,869$23,196$21,632$20,172$16,702
8 years$23,091$21,318$19,672$18,147$16,735$13,434
9 years$20,318$18,561$16,943$15,457$14,093$10,959
10 years$18,100$16,360$14,772$13,324$12,008$9,038
11 years$16,287$14,565$13,005$11,596$10,327$7,517
12 years$14,777$13,072$11,541$10,171$8,950$6,295
13 years$13,500$11,814$10,311$8,980$7,804$5,301
14 years$12,407$10,738$9,265$7,971$6,841$4,483
15 years$11,460$9,810$8,365$7,109$6,023$3,806
16 years$10,633$9,000$7,584$6,365$5,324$3,241
17 years$9,904$8,289$6,901$5,719$4,720$2,767
18 years$9,256$7,659$6,300$5,154$4,197$2,367
19 years$8,677$7,099$5,767$4,657$3,741$2,029
20 years$8,157$6,596$5,293$4,218$3,341$1,742
21 years$7,687$6,144$4,868$3,828$2,990$1,497
22 years$7,260$5,735$4,487$3,481$2,680$1,289
23 years$6,871$5,364$4,143$3,170$2,406$1,110
24 years$6,515$5,026$3,832$2,891$2,163$957
25 years$6,188$4,717$3,549$2,640$1,946$826
26 years$5,886$4,433$3,291$2,414$1,753$713
27 years$5,607$4,172$3,056$2,210$1,580$616
28 years$5,349$3,931$2,841$2,025$1,426$532
29 years$5,109$3,708$2,644$1,857$1,288$460
30 years$4,885$3,502$2,463$1,704$1,163$398
31 years$4,677$3,311$2,296$1,565$1,052$344
32 years$4,481$3,133$2,142$1,438$951$298
33 years$4,298$2,967$2,000$1,323$861$257
34 years$4,126$2,812$1,869$1,217$780$223
35 years$3,964$2,667$1,747$1,120$706$193
36 years$3,812$2,531$1,634$1,032$640$167
37 years$3,668$2,404$1,530$951$580$145
38 years$3,532$2,285$1,433$876$526$125
39 years$3,403$2,173$1,342$808$477$108
40 years$3,281$2,067$1,258$745$432$94
41 years$3,165$1,968$1,180$687$392$81
42 years$3,056$1,874$1,107$634$356$70
43 years$2,951$1,785$1,038$586$323$61
44 years$2,852$1,702$975$541$293$53
45 years$2,757$1,623$915$499$266$46
46 years$2,666$1,548$860$461$242$40
47 years$2,580$1,477$808$426$219$34
48 years$2,498$1,410$759$394$199$30
49 years$2,419$1,347$713$364$181$26
50 years$2,343$1,287$671$336$164$22

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 $4,576 every year, while hoping to spend $45,430 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: 71/10/19 Blend
63$2,400,000$2,400,000$2,400,000$2,400,000
64$2,649,520$2,522,320$2,485,120$2,825,225
65$2,871,434$2,597,577$2,520,035$3,018,045
66$3,114,461$2,674,998$2,554,596$3,223,229
67$3,380,705$2,754,643$2,588,744$3,446,736
68$3,672,487$2,836,570$2,622,417$3,690,374
69$3,992,359$2,920,840$2,655,546$3,956,133
70$4,343,134$3,007,516$2,688,062$4,246,208
71$4,727,910$3,096,661$2,719,889$4,563,015
72$5,150,100$3,188,340$2,750,948$4,909,214
73$5,613,461$3,282,620$2,781,155$5,287,737
74$6,122,134$3,379,568$2,810,424$5,701,813
75$6,680,678$3,479,253$2,838,659$6,154,999
76$7,294,117$3,581,747$2,865,765$6,651,214
77$7,967,986$3,687,121$2,891,637$7,194,776
78$8,708,380$3,795,450$2,916,166$7,790,440
79$9,522,016$3,906,807$2,939,238$8,443,448
80$10,416,292$4,021,271$2,960,733$9,159,572
81$11,399,359$4,138,919$2,980,524$9,945,174
82$12,480,199$4,259,831$2,998,476$10,807,263
83$13,668,704$4,384,088$3,014,450$11,753,560
84$14,975,776$4,511,773$3,028,298$12,792,576
85$16,413,425$4,642,969$3,039,866$13,933,684
86$17,994,882$4,777,763$3,048,989$15,187,217
87$19,734,728$4,916,241$3,055,498$16,564,556
88$21,649,026$5,058,492$3,059,213$18,078,244
89$23,755,474$5,204,606$3,059,945$19,742,103
90$26,073,576$5,354,675$3,057,496$21,571,361
91$28,624,817$5,508,790$3,051,658$23,582,800
92$31,432,875$5,667,047$3,042,215$25,794,913
93$34,523,837$5,829,541$3,028,938$28,228,077
94$37,926,448$5,996,369$3,011,588$30,904,745
95$41,672,383$6,167,629$2,989,913$33,849,661
96$45,796,543$6,343,419$2,963,652$37,090,093
97$50,337,385$6,523,841$2,932,529$40,656,087
98$55,337,285$6,708,996$2,896,255$44,580,752
99$60,842,937$6,898,986$2,854,529$48,900,575
100$66,905,795$7,093,915$2,807,034$53,655,764