Can I retire at age 64 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$199,841$198,061$196,325$194,629$192,974$189,621
2 years$98,931$97,089$95,303$93,572$91,892$88,525
3 years$65,299$63,449$61,667$59,952$58,300$55,024
4 years$48,486$46,641$44,878$43,192$41,580$38,420
5 years$38,401$36,567$34,827$33,176$31,609$28,573
6 years$31,680$29,860$28,146$26,531$25,011$22,104
7 years$26,881$25,076$23,389$21,813$20,341$17,563
8 years$23,283$21,495$19,836$18,298$16,874$14,225
9 years$20,487$18,715$17,085$15,586$14,211$11,688
10 years$18,251$16,497$14,895$13,435$12,108$9,711
11 years$16,423$14,686$13,113$11,693$10,413$8,138
12 years$14,900$13,181$11,638$10,256$9,024$6,868
13 years$13,613$11,912$10,397$9,055$7,869$5,829
14 years$12,510$10,828$9,342$8,038$6,898$4,971
15 years$11,556$9,891$8,435$7,168$6,074$4,255
16 years$10,722$9,075$7,647$6,418$5,368$3,654
17 years$9,986$8,358$6,959$5,767$4,760$3,147
18 years$9,333$7,723$6,352$5,197$4,232$2,716
19 years$8,749$7,158$5,815$4,696$3,772$2,349
20 years$8,225$6,651$5,337$4,253$3,369$2,035
21 years$7,751$6,195$4,909$3,860$3,015$1,765
22 years$7,320$5,783$4,524$3,510$2,703$1,533
23 years$6,928$5,409$4,177$3,196$2,426$1,333
24 years$6,569$5,068$3,863$2,915$2,181$1,160
25 years$6,239$4,756$3,578$2,662$1,962$1,010
26 years$5,935$4,470$3,319$2,434$1,767$881
27 years$5,654$4,207$3,082$2,228$1,594$768
28 years$5,394$3,964$2,865$2,041$1,438$670
29 years$5,152$3,739$2,666$1,872$1,298$585
30 years$4,926$3,531$2,483$1,718$1,173$511
31 years$4,716$3,338$2,315$1,578$1,061$446
32 years$4,519$3,159$2,160$1,450$959$390
33 years$4,334$2,991$2,017$1,334$868$341
34 years$4,160$2,835$1,884$1,227$786$298
35 years$3,997$2,689$1,762$1,129$712$261
36 years$3,844$2,552$1,648$1,040$645$228
37 years$3,698$2,424$1,543$958$585$199
38 years$3,561$2,304$1,445$883$530$174
39 years$3,432$2,191$1,353$815$481$153
40 years$3,309$2,084$1,269$751$436$134
41 years$3,192$1,984$1,190$693$396$117
42 years$3,081$1,890$1,116$640$359$102
43 years$2,976$1,800$1,047$591$326$90
44 years$2,875$1,716$983$545$296$78
45 years$2,780$1,636$923$504$268$69
46 years$2,689$1,561$867$465$244$60
47 years$2,602$1,490$814$430$221$53
48 years$2,518$1,422$765$397$201$46
49 years$2,439$1,358$719$367$183$40
50 years$2,363$1,297$676$339$166$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,420,000, adding $4,384 every year, while hoping to spend $43,638 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: 38/46/16 Blend
63$2,420,000$2,420,000$2,420,000$2,420,000
64$2,671,362$2,543,102$2,505,592$2,759,831
65$2,897,411$2,621,284$2,543,099$2,901,816
66$3,145,053$2,701,833$2,580,400$3,050,653
67$3,416,447$2,784,822$2,617,441$3,210,572
68$3,713,967$2,870,320$2,654,168$3,382,595
69$4,040,228$2,958,403$2,690,519$3,567,842
70$4,398,113$3,049,146$2,726,433$3,767,546
71$4,790,794$3,142,627$2,761,842$3,983,062
72$5,221,767$3,238,928$2,796,675$4,215,883
73$5,694,881$3,338,130$2,830,858$4,467,647
74$6,214,379$3,440,318$2,864,312$4,740,159
75$6,784,933$3,545,580$2,896,953$5,035,403
76$7,411,688$3,654,006$2,928,694$5,355,565
77$8,100,315$3,765,687$2,959,440$5,703,046
78$8,857,060$3,880,719$2,989,094$6,080,493
79$9,688,805$3,999,198$3,017,553$6,490,817
80$10,603,129$4,121,225$3,044,707$6,937,224
81$11,608,386$4,246,903$3,070,443$7,423,240
82$12,713,776$4,376,336$3,094,638$7,952,751
83$13,929,439$4,509,634$3,117,165$8,530,034
84$15,266,543$4,646,908$3,137,892$9,159,797
85$16,737,395$4,788,271$3,156,676$9,847,227
86$18,355,555$4,933,841$3,173,370$10,598,033
87$20,135,961$5,083,740$3,187,818$11,418,504
88$22,095,076$5,238,089$3,199,856$12,315,566
89$24,251,035$5,397,017$3,209,313$13,296,847
90$26,623,823$5,560,654$3,216,008$14,370,750
91$29,235,461$5,729,133$3,219,751$15,546,528
92$32,110,209$5,902,592$3,220,344$16,834,375
93$35,274,803$6,081,172$3,217,578$18,245,519
94$38,758,700$6,265,016$3,211,234$19,792,332
95$42,594,359$6,454,274$3,201,082$21,488,438
96$46,817,547$6,649,097$3,186,882$23,348,849
97$51,467,675$6,849,640$3,168,381$25,390,102
98$56,588,170$7,056,065$3,145,314$27,630,418
99$62,226,886$7,268,535$3,117,404$30,089,868
100$68,436,553$7,487,217$3,084,361$32,790,567