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%12.9%
1 years$209,751$207,882$206,060$204,280$202,543$200,095
2 years$103,837$101,903$100,029$98,212$96,449$93,986
3 years$68,537$66,595$64,725$62,925$61,191$58,789
4 years$50,891$48,954$47,103$45,334$43,642$41,319
5 years$40,305$38,381$36,554$34,821$33,176$30,939
6 years$33,251$31,341$29,541$27,847$26,251$24,103
7 years$28,214$26,320$24,549$22,894$21,349$19,291
8 years$24,438$22,561$20,819$19,205$17,711$15,742
9 years$21,503$19,643$17,932$16,359$14,915$13,035
10 years$19,156$17,315$15,633$14,101$12,709$10,916
11 years$17,237$15,414$13,763$12,272$10,930$9,223
12 years$15,639$13,835$12,215$10,765$9,472$7,849
13 years$14,288$12,503$10,913$9,503$8,259$6,719
14 years$13,131$11,365$9,805$8,436$7,240$5,779
15 years$12,129$10,382$8,853$7,524$6,375$4,991
16 years$11,253$9,525$8,026$6,737$5,634$4,325
17 years$10,481$8,772$7,304$6,053$4,996$3,759
18 years$9,796$8,106$6,667$5,455$4,442$3,275
19 years$9,183$7,513$6,104$4,929$3,959$2,859
20 years$8,633$6,981$5,602$4,464$3,536$2,501
21 years$8,135$6,503$5,152$4,051$3,165$2,191
22 years$7,683$6,070$4,749$3,684$2,837$1,922
23 years$7,272$5,677$4,385$3,355$2,546$1,688
24 years$6,895$5,319$4,055$3,060$2,289$1,484
25 years$6,549$4,992$3,756$2,794$2,059$1,306
26 years$6,229$4,691$3,483$2,555$1,855$1,150
27 years$5,934$4,415$3,235$2,339$1,673$1,013
28 years$5,661$4,160$3,007$2,143$1,509$894
29 years$5,407$3,925$2,798$1,965$1,363$788
30 years$5,170$3,707$2,606$1,803$1,231$696
31 years$4,949$3,504$2,430$1,656$1,113$615
32 years$4,743$3,315$2,267$1,522$1,007$543
33 years$4,549$3,140$2,117$1,400$911$480
34 years$4,367$2,976$1,978$1,288$825$424
35 years$4,195$2,822$1,849$1,185$747$375
36 years$4,034$2,679$1,730$1,092$677$331
37 years$3,882$2,544$1,619$1,006$614$293
38 years$3,738$2,418$1,516$927$556$259
39 years$3,602$2,299$1,421$855$505$229
40 years$3,473$2,188$1,331$789$458$203
41 years$3,350$2,082$1,248$728$415$180
42 years$3,234$1,983$1,171$671$377$159
43 years$3,123$1,890$1,099$620$342$141
44 years$3,018$1,801$1,032$572$310$125
45 years$2,918$1,718$969$529$282$110
46 years$2,822$1,639$910$488$256$98
47 years$2,731$1,564$855$451$232$86
48 years$2,643$1,493$803$417$211$77
49 years$2,560$1,425$755$385$192$68
50 years$2,480$1,362$710$356$174$60

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 $6,913 every year, while hoping to spend $29,030 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: 58/27/15 Blend
63$2,540,000$2,540,000$2,540,000$2,540,000
64$2,806,211$2,671,591$2,632,221$2,957,800
65$3,061,557$2,771,611$2,689,512$3,161,161
66$3,341,975$2,875,559$2,747,750$3,378,938
67$3,649,992$2,983,597$2,806,936$3,615,662
68$3,988,391$3,095,894$2,867,069$3,873,162
69$4,360,240$3,212,626$2,928,148$4,153,446
70$4,768,916$3,333,976$2,990,172$4,458,726
71$5,218,140$3,460,135$3,053,138$4,791,434
72$5,712,014$3,591,305$3,117,041$5,154,246
73$6,255,053$3,727,693$3,181,876$5,550,109
74$6,852,236$3,869,517$3,247,637$5,982,264
75$7,509,045$4,017,005$3,314,313$6,454,280
76$8,231,522$4,170,392$3,381,897$6,970,082
77$9,026,323$4,329,927$3,450,376$7,533,994
78$9,900,782$4,495,868$3,519,738$8,150,774
79$10,862,980$4,668,483$3,589,967$8,825,663
80$11,921,819$4,848,055$3,661,047$9,564,426
81$13,087,112$5,034,876$3,732,959$10,373,416
82$14,369,666$5,229,254$3,805,682$11,259,624
83$15,781,392$5,431,508$3,879,192$12,230,751
84$17,335,413$5,641,971$3,953,465$13,295,275
85$19,046,192$5,860,994$4,028,472$14,462,533
86$20,929,660$6,088,939$4,104,182$15,742,809
87$23,003,376$6,326,188$4,180,563$17,147,426
88$25,286,685$6,573,136$4,257,577$18,688,858
89$27,800,907$6,830,200$4,335,186$20,380,841
90$30,569,532$7,097,812$4,413,347$22,238,506
91$33,618,443$7,376,424$4,492,013$24,278,519
92$36,976,164$7,666,508$4,571,136$26,519,235
93$40,674,125$7,968,559$4,650,661$28,980,876
94$44,746,960$8,283,092$4,730,532$31,685,715
95$49,232,831$8,610,646$4,810,686$34,658,289
96$54,173,795$8,951,782$4,891,059$37,925,626
97$59,616,192$9,307,090$4,971,580$41,517,502
98$65,611,089$9,677,182$5,052,173$45,466,719
99$72,214,758$10,062,702$5,132,758$49,809,413
100$79,489,208$10,464,319$5,213,250$54,585,395