Can I retire at age 64 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$204,796$202,972$201,192$199,455$197,759$192,821
2 years$101,384$99,496$97,666$95,892$94,171$89,228
3 years$66,918$65,022$63,196$61,439$59,746$54,952
4 years$49,688$47,798$45,991$44,263$42,611$38,003
5 years$39,353$37,474$35,691$33,998$32,392$27,983
6 years$32,465$30,600$28,843$27,189$25,631$21,424
7 years$27,548$25,698$23,969$22,353$20,845$16,841
8 years$23,861$22,028$20,328$18,752$17,293$13,491
9 years$20,995$19,179$17,508$15,972$14,563$10,960
10 years$18,703$16,906$15,264$13,768$12,408$8,999
11 years$16,830$15,050$13,438$11,983$10,672$7,452
12 years$15,270$13,508$11,926$10,510$9,248$6,212
13 years$13,950$12,207$10,655$9,279$8,064$5,206
14 years$12,821$11,096$9,574$8,237$7,069$4,382
15 years$11,842$10,137$8,644$7,346$6,224$3,702
16 years$10,987$9,300$7,837$6,577$5,501$3,137
17 years$10,234$8,565$7,131$5,910$4,878$2,664
18 years$9,564$7,915$6,510$5,326$4,337$2,268
19 years$8,966$7,335$5,959$4,812$3,866$1,934
20 years$8,429$6,816$5,469$4,359$3,453$1,651
21 years$7,943$6,349$5,031$3,956$3,090$1,412
22 years$7,502$5,927$4,637$3,597$2,770$1,209
23 years$7,100$5,543$4,281$3,275$2,486$1,035
24 years$6,732$5,193$3,959$2,987$2,235$888
25 years$6,394$4,874$3,667$2,728$2,011$762
26 years$6,082$4,581$3,401$2,495$1,811$654
27 years$5,794$4,311$3,158$2,283$1,633$561
28 years$5,527$4,062$2,936$2,092$1,474$482
29 years$5,279$3,832$2,732$1,918$1,331$415
30 years$5,048$3,619$2,545$1,761$1,202$356
31 years$4,832$3,421$2,373$1,617$1,087$307
32 years$4,631$3,237$2,214$1,486$983$264
33 years$4,441$3,066$2,067$1,367$890$227
34 years$4,264$2,905$1,931$1,257$806$195
35 years$4,096$2,756$1,805$1,157$730$168
36 years$3,939$2,616$1,689$1,066$661$145
37 years$3,790$2,484$1,581$982$599$124
38 years$3,650$2,361$1,480$905$543$107
39 years$3,517$2,245$1,387$835$493$92
40 years$3,391$2,136$1,300$770$447$79
41 years$3,271$2,033$1,219$710$405$68
42 years$3,157$1,936$1,143$656$368$59
43 years$3,049$1,845$1,073$605$334$51
44 years$2,947$1,759$1,007$559$303$44
45 years$2,849$1,677$946$516$275$38
46 years$2,755$1,600$888$477$250$32
47 years$2,666$1,527$834$440$227$28
48 years$2,581$1,457$784$407$206$24
49 years$2,499$1,392$737$376$187$21
50 years$2,421$1,330$693$348$170$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,480,000, adding $2,453 every year, while hoping to spend $57,723 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: 78/14/8 Blend
63$2,480,000$2,480,000$2,480,000$2,480,000
64$2,735,490$2,604,050$2,565,610$2,945,648
65$2,953,093$2,670,232$2,590,141$3,150,136
66$3,190,958$2,737,722$2,613,560$3,366,615
67$3,451,088$2,806,523$2,635,767$3,602,331
68$3,735,694$2,876,637$2,656,660$3,859,174
69$4,047,206$2,948,064$2,676,129$4,139,226
70$4,388,302$3,020,800$2,694,060$4,444,778
71$4,761,931$3,094,841$2,710,333$4,778,355
72$5,171,339$3,170,180$2,724,821$5,142,736
73$5,620,104$3,246,807$2,737,391$5,540,983
74$6,112,163$3,324,709$2,747,902$5,976,468
75$6,651,854$3,403,871$2,756,208$6,452,906
76$7,243,956$3,484,273$2,762,153$6,974,388
77$7,893,732$3,565,894$2,765,577$7,545,421
78$8,606,977$3,648,708$2,766,309$8,170,971
79$9,390,078$3,732,684$2,764,170$8,856,507
80$10,250,069$3,817,789$2,758,972$9,608,055
81$11,194,699$3,903,983$2,750,520$10,432,255
82$12,232,503$3,991,222$2,738,607$11,336,420
83$13,372,885$4,079,459$2,723,018$12,328,609
84$14,626,205$4,168,639$2,703,525$13,417,699
85$16,003,876$4,258,700$2,679,891$14,613,473
86$17,518,473$4,349,578$2,651,869$15,926,710
87$19,183,847$4,441,198$2,619,197$17,369,284
88$21,015,263$4,533,479$2,581,603$18,954,280
89$23,029,534$4,626,334$2,538,801$20,696,117
90$25,245,189$4,719,667$2,490,493$22,610,681
91$27,682,640$4,813,372$2,436,366$24,715,477
92$30,364,378$4,907,336$2,376,093$27,029,794
93$33,315,183$5,001,434$2,309,331$29,574,885
94$36,562,360$5,095,533$2,235,722$32,374,173
95$40,135,994$5,189,487$2,154,891$35,453,464
96$44,069,232$5,283,139$2,066,448$38,841,197
97$48,398,602$5,376,320$1,969,981$42,568,710
98$53,164,347$5,468,848$1,865,064$46,670,533
99$58,410,815$5,560,526$1,751,248$51,184,720
100$64,186,869$5,651,143$1,628,066$56,153,204