Can I retire at age 64 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$201,493$199,698$197,947$196,238$194,569$191,979
2 years$99,749$97,891$96,091$94,345$92,652$90,046
3 years$65,839$63,973$62,177$60,448$58,782$56,242
4 years$48,887$47,027$45,249$43,549$41,924$39,469
5 years$38,719$36,870$35,115$33,450$31,870$29,508
6 years$31,942$30,107$28,378$26,750$25,218$22,951
7 years$27,103$25,284$23,582$21,993$20,509$18,338
8 years$23,476$21,673$20,000$18,449$17,014$14,939
9 years$20,656$18,870$17,226$15,715$14,328$12,348
10 years$18,402$16,633$15,018$13,546$12,208$10,322
11 years$16,558$14,807$13,221$11,789$10,500$8,705
12 years$15,023$13,290$11,734$10,341$9,099$7,394
13 years$13,725$12,011$10,483$9,129$7,934$6,316
14 years$12,614$10,917$9,419$8,104$6,955$5,422
15 years$11,651$9,973$8,504$7,227$6,124$4,673
16 years$10,810$9,150$7,710$6,471$5,412$4,042
17 years$10,069$8,427$7,016$5,814$4,799$3,505
18 years$9,410$7,787$6,405$5,240$4,267$3,047
19 years$8,822$7,217$5,863$4,735$3,803$2,655
20 years$8,293$6,706$5,381$4,288$3,397$2,317
21 years$7,815$6,247$4,950$3,892$3,040$2,025
22 years$7,381$5,831$4,562$3,539$2,725$1,772
23 years$6,985$5,454$4,212$3,223$2,446$1,553
24 years$6,623$5,110$3,895$2,939$2,199$1,362
25 years$6,291$4,795$3,608$2,684$1,978$1,196
26 years$5,984$4,507$3,346$2,454$1,782$1,051
27 years$5,701$4,241$3,107$2,247$1,607$924
28 years$5,438$3,997$2,889$2,058$1,450$813
29 years$5,194$3,770$2,688$1,888$1,309$715
30 years$4,967$3,561$2,504$1,732$1,183$630
31 years$4,754$3,366$2,334$1,591$1,069$555
32 years$4,556$3,185$2,178$1,462$967$489
33 years$4,370$3,016$2,033$1,345$875$431
34 years$4,195$2,859$1,900$1,237$793$380
35 years$4,030$2,711$1,776$1,139$718$335
36 years$3,875$2,573$1,662$1,049$650$295
37 years$3,729$2,444$1,555$966$590$261
38 years$3,591$2,323$1,457$891$534$230
39 years$3,460$2,209$1,365$821$485$203
40 years$3,336$2,102$1,279$758$440$179
41 years$3,218$2,000$1,199$699$399$158
42 years$3,106$1,905$1,125$645$362$140
43 years$3,000$1,815$1,056$595$328$123
44 years$2,899$1,730$991$550$298$109
45 years$2,803$1,650$930$508$271$96
46 years$2,711$1,574$874$469$246$85
47 years$2,623$1,502$821$433$223$75
48 years$2,539$1,434$772$400$203$66
49 years$2,459$1,369$725$370$184$58
50 years$2,382$1,308$682$342$167$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,440,000, adding $2,424 every year, while hoping to spend $48,129 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: 84/8/8 Blend
63$2,440,000$2,440,000$2,440,000$2,440,000
64$2,691,380$2,562,060$2,524,240$2,914,839
65$2,914,692$2,636,392$2,557,594$3,135,506
66$3,159,169$2,712,754$2,590,451$3,371,087
67$3,426,918$2,791,193$2,622,745$3,628,343
68$3,720,262$2,871,759$2,654,405$3,909,423
69$4,041,756$2,954,503$2,685,355$4,216,689
70$4,394,216$3,039,475$2,715,516$4,552,748
71$4,780,744$3,126,727$2,744,803$4,920,467
72$5,204,755$3,216,311$2,773,129$5,323,004
73$5,670,010$3,308,281$2,800,399$5,763,839
74$6,180,654$3,402,690$2,826,516$6,246,805
75$6,741,252$3,499,592$2,851,375$6,776,123
76$7,356,831$3,599,043$2,874,867$7,356,444
77$8,032,930$3,701,098$2,896,877$7,992,888
78$8,775,650$3,805,814$2,917,284$8,691,101
79$9,591,714$3,913,247$2,935,961$9,457,298
80$10,488,527$4,023,453$2,952,773$10,298,328
81$11,474,245$4,136,491$2,967,580$11,221,735
82$12,557,858$4,252,419$2,980,233$12,235,833
83$13,749,266$4,371,294$2,990,578$13,349,779
84$15,059,378$4,493,175$2,998,449$14,573,663
85$16,500,215$4,618,120$3,003,677$15,918,602
86$18,085,017$4,746,188$3,006,081$17,396,845
87$19,828,375$4,877,438$3,005,470$19,021,886
88$21,746,364$5,011,927$3,001,649$20,808,595
89$23,856,696$5,149,714$2,994,407$22,773,355
90$26,178,886$5,290,858$2,983,527$24,934,219
91$28,734,437$5,435,414$2,968,780$27,311,076
92$31,547,042$5,583,442$2,949,926$29,925,845
93$34,642,805$5,734,995$2,926,713$32,802,675
94$38,050,492$5,890,131$2,898,879$35,968,175
95$41,801,798$6,048,904$2,866,148$39,451,668
96$45,931,647$6,211,366$2,828,229$43,285,463
97$50,478,522$6,377,569$2,784,822$47,505,162
98$55,484,827$6,547,565$2,735,608$52,149,997
99$60,997,285$6,721,402$2,680,258$57,263,195
100$67,067,384$6,899,127$2,618,422$62,892,394