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

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$209,751$207,882$206,060$204,280$202,543$196,374
2 years$103,837$101,903$100,029$98,212$96,449$90,287
3 years$68,537$66,595$64,725$62,925$61,191$55,229
4 years$50,891$48,954$47,103$45,334$43,642$37,926
5 years$40,305$38,381$36,554$34,821$33,176$27,721
6 years$33,251$31,341$29,541$27,847$26,251$21,062
7 years$28,214$26,320$24,549$22,894$21,349$16,426
8 years$24,438$22,561$20,819$19,205$17,711$13,050
9 years$21,503$19,643$17,932$16,359$14,915$10,512
10 years$19,156$17,315$15,633$14,101$12,709$8,557
11 years$17,237$15,414$13,763$12,272$10,930$7,022
12 years$15,639$13,835$12,215$10,765$9,472$5,800
13 years$14,288$12,503$10,913$9,503$8,259$4,815
14 years$13,131$11,365$9,805$8,436$7,240$4,014
15 years$12,129$10,382$8,853$7,524$6,375$3,358
16 years$11,253$9,525$8,026$6,737$5,634$2,817
17 years$10,481$8,772$7,304$6,053$4,996$2,368
18 years$9,796$8,106$6,667$5,455$4,442$1,995
19 years$9,183$7,513$6,104$4,929$3,959$1,683
20 years$8,633$6,981$5,602$4,464$3,536$1,422
21 years$8,135$6,503$5,152$4,051$3,165$1,203
22 years$7,683$6,070$4,749$3,684$2,837$1,019
23 years$7,272$5,677$4,385$3,355$2,546$863
24 years$6,895$5,319$4,055$3,060$2,289$732
25 years$6,549$4,992$3,756$2,794$2,059$621
26 years$6,229$4,691$3,483$2,555$1,855$527
27 years$5,934$4,415$3,235$2,339$1,673$447
28 years$5,661$4,160$3,007$2,143$1,509$380
29 years$5,407$3,925$2,798$1,965$1,363$323
30 years$5,170$3,707$2,606$1,803$1,231$274
31 years$4,949$3,504$2,430$1,656$1,113$233
32 years$4,743$3,315$2,267$1,522$1,007$198
33 years$4,549$3,140$2,117$1,400$911$169
34 years$4,367$2,976$1,978$1,288$825$143
35 years$4,195$2,822$1,849$1,185$747$122
36 years$4,034$2,679$1,730$1,092$677$104
37 years$3,882$2,544$1,619$1,006$614$88
38 years$3,738$2,418$1,516$927$556$75
39 years$3,602$2,299$1,421$855$505$64
40 years$3,473$2,188$1,331$789$458$54
41 years$3,350$2,082$1,248$728$415$46
42 years$3,234$1,983$1,171$671$377$39
43 years$3,123$1,890$1,099$620$342$33
44 years$3,018$1,801$1,032$572$310$28
45 years$2,918$1,718$969$529$282$24
46 years$2,822$1,639$910$488$256$21
47 years$2,731$1,564$855$451$232$18
48 years$2,643$1,493$803$417$211$15
49 years$2,560$1,425$755$385$192$13
50 years$2,480$1,362$710$356$174$11

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 $2,106 every year, while hoping to spend $29,033 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: 42/31/27 Blend
63$2,540,000$2,540,000$2,540,000$2,540,000
64$2,801,252$2,666,632$2,627,262$2,896,673
65$3,056,089$2,766,406$2,684,385$3,065,224
66$3,335,946$2,870,096$2,742,448$3,244,740
67$3,643,345$2,977,863$2,801,452$3,438,593
68$3,981,063$3,089,876$2,861,398$3,648,125
69$4,352,161$3,206,309$2,922,284$3,874,808
70$4,760,009$3,327,345$2,984,108$4,120,262
71$5,208,321$3,453,176$3,046,866$4,386,266
72$5,701,189$3,584,001$3,110,555$4,674,779
73$6,243,120$3,720,027$3,175,169$4,987,952
74$6,839,081$3,861,472$3,240,700$5,328,153
75$7,494,544$4,008,561$3,307,140$5,697,985
76$8,215,538$4,161,530$3,374,479$6,100,313
77$9,008,704$4,320,626$3,442,706$6,538,289
78$9,881,361$4,486,106$3,511,806$7,015,378
79$10,841,573$4,658,238$3,581,764$7,535,398
80$11,898,224$4,837,303$3,652,564$8,102,546
81$13,061,104$5,023,592$3,724,186$8,721,442
82$14,341,000$5,217,411$3,796,610$9,397,174
83$15,749,797$5,419,079$3,869,811$10,135,339
84$17,300,590$5,628,928$3,943,764$10,942,099
85$19,007,810$5,847,305$4,018,440$11,824,238
86$20,887,357$6,074,574$4,093,808$12,789,226
87$22,956,752$6,311,112$4,169,835$13,845,284
88$25,235,299$6,557,315$4,246,483$15,001,468
89$27,744,273$6,813,597$4,323,714$16,267,745
90$30,507,114$7,080,388$4,401,483$17,655,095
91$33,549,652$7,358,139$4,479,745$19,175,605
92$36,900,349$7,647,321$4,558,449$20,842,589
93$40,590,569$7,948,424$4,637,541$22,670,708
94$44,654,873$8,261,963$4,716,965$24,676,108
95$49,131,343$8,588,473$4,796,657$26,876,573
96$54,061,947$8,928,514$4,876,551$29,291,692
97$59,492,927$9,282,673$4,956,577$31,943,037
98$65,475,242$9,651,560$5,036,659$34,854,372
99$72,065,045$10,035,815$5,116,715$38,051,874
100$79,324,215$10,436,105$5,196,661$41,564,374