Can I retire at age 64 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$209,751$207,882$206,060$204,280$202,543$199,188
2 years$103,837$101,903$100,029$98,212$96,449$93,078
3 years$68,537$66,595$64,725$62,925$61,191$57,910
4 years$50,891$48,954$47,103$45,334$43,642$40,476
5 years$40,305$38,381$36,554$34,821$33,176$30,134
6 years$33,251$31,341$29,541$27,847$26,251$23,336
7 years$28,214$26,320$24,549$22,894$21,349$18,563
8 years$24,438$22,561$20,819$19,205$17,711$15,053
9 years$21,503$19,643$17,932$16,359$14,915$12,383
10 years$19,156$17,315$15,633$14,101$12,709$10,301
11 years$17,237$15,414$13,763$12,272$10,930$8,644
12 years$15,639$13,835$12,215$10,765$9,472$7,304
13 years$14,288$12,503$10,913$9,503$8,259$6,207
14 years$13,131$11,365$9,805$8,436$7,240$5,300
15 years$12,129$10,382$8,853$7,524$6,375$4,543
16 years$11,253$9,525$8,026$6,737$5,634$3,907
17 years$10,481$8,772$7,304$6,053$4,996$3,369
18 years$9,796$8,106$6,667$5,455$4,442$2,912
19 years$9,183$7,513$6,104$4,929$3,959$2,522
20 years$8,633$6,981$5,602$4,464$3,536$2,188
21 years$8,135$6,503$5,152$4,051$3,165$1,901
22 years$7,683$6,070$4,749$3,684$2,837$1,654
23 years$7,272$5,677$4,385$3,355$2,546$1,440
24 years$6,895$5,319$4,055$3,060$2,289$1,255
25 years$6,549$4,992$3,756$2,794$2,059$1,095
26 years$6,229$4,691$3,483$2,555$1,855$956
27 years$5,934$4,415$3,235$2,339$1,673$835
28 years$5,661$4,160$3,007$2,143$1,509$730
29 years$5,407$3,925$2,798$1,965$1,363$638
30 years$5,170$3,707$2,606$1,803$1,231$558
31 years$4,949$3,504$2,430$1,656$1,113$489
32 years$4,743$3,315$2,267$1,522$1,007$428
33 years$4,549$3,140$2,117$1,400$911$374
34 years$4,367$2,976$1,978$1,288$825$328
35 years$4,195$2,822$1,849$1,185$747$287
36 years$4,034$2,679$1,730$1,092$677$252
37 years$3,882$2,544$1,619$1,006$614$220
38 years$3,738$2,418$1,516$927$556$193
39 years$3,602$2,299$1,421$855$505$169
40 years$3,473$2,188$1,331$789$458$148
41 years$3,350$2,082$1,248$728$415$130
42 years$3,234$1,983$1,171$671$377$114
43 years$3,123$1,890$1,099$620$342$100
44 years$3,018$1,801$1,032$572$310$88
45 years$2,918$1,718$969$529$282$77
46 years$2,822$1,639$910$488$256$67
47 years$2,731$1,564$855$451$232$59
48 years$2,643$1,493$803$417$211$52
49 years$2,560$1,425$755$385$192$45
50 years$2,480$1,362$710$356$174$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,540,000, adding $5,753 every year, while hoping to spend $45,601 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: 36/40/24 Blend
63$2,540,000$2,540,000$2,540,000$2,540,000
64$2,805,014$2,670,394$2,631,024$2,885,520
65$3,042,607$2,752,724$2,670,644$3,027,655
66$3,302,905$2,837,560$2,710,064$3,176,394
67$3,588,177$2,924,977$2,749,227$3,336,063
68$3,900,921$3,015,051$2,788,076$3,507,670
69$4,243,888$3,107,861$2,826,549$3,692,326
70$4,620,107$3,203,488$2,864,580$3,891,249
71$5,032,915$3,302,017$2,902,101$4,105,783
72$5,485,989$3,403,532$2,939,038$4,337,403
73$5,983,378$3,508,123$2,975,314$4,587,733
74$6,529,541$3,615,880$3,010,846$4,858,561
75$7,129,393$3,726,897$3,045,548$5,151,854
76$7,788,345$3,841,269$3,079,328$5,469,778
77$8,512,361$3,959,096$3,112,090$5,814,714
78$9,308,009$4,080,479$3,143,733$6,189,287
79$10,182,526$4,205,522$3,174,148$6,596,385
80$11,143,885$4,334,333$3,203,222$7,039,188
81$12,200,868$4,467,023$3,230,837$7,521,197
82$13,363,153$4,603,703$3,256,867$8,046,268
83$14,641,402$4,744,492$3,281,179$8,618,647
84$16,047,361$4,889,508$3,303,635$9,243,009
85$17,593,973$5,038,875$3,324,087$9,924,506
86$19,295,497$5,192,719$3,342,384$10,668,809
87$21,167,646$5,351,171$3,358,361$11,482,166
88$23,227,730$5,514,362$3,371,850$12,371,458
89$25,494,823$5,682,431$3,382,672$13,344,266
90$27,989,943$5,855,518$3,390,640$14,408,940
91$30,736,246$6,033,767$3,395,555$15,574,680
92$33,759,249$6,217,328$3,397,213$16,851,619
93$37,087,068$6,406,352$3,395,394$18,250,922
94$40,750,682$6,600,996$3,389,873$19,784,889
95$44,784,227$6,801,421$3,380,410$21,467,070
96$49,225,319$7,007,791$3,366,754$23,312,395
97$54,115,405$7,220,277$3,348,644$25,337,314
98$59,500,157$7,439,050$3,325,804$27,559,950
99$65,429,900$7,664,291$3,297,945$30,000,272
100$71,960,090$7,896,181$3,264,766$32,680,283