Can I retire at age 64 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$224,615$222,614$220,662$218,757$216,897$211,396
2 years$111,196$109,125$107,118$105,172$103,284$97,778
3 years$73,394$71,314$69,312$67,384$65,528$60,188
4 years$54,497$52,423$50,442$48,547$46,735$41,603
5 years$43,162$41,101$39,145$37,289$35,527$30,618
6 years$35,607$33,562$31,635$29,820$28,111$23,429
7 years$30,213$28,185$26,289$24,517$22,862$18,407
8 years$26,170$24,160$22,295$20,566$18,966$14,736
9 years$23,027$21,035$19,203$17,518$15,972$11,964
10 years$20,513$18,542$16,741$15,101$13,609$9,818
11 years$18,458$16,507$14,739$13,142$11,704$8,125
12 years$16,747$14,815$13,080$11,527$10,143$6,768
13 years$15,300$13,389$11,686$10,177$8,845$5,668
14 years$14,061$12,170$10,500$9,034$7,753$4,768
15 years$12,988$11,118$9,480$8,057$6,827$4,025
16 years$12,051$10,200$8,595$7,214$6,033$3,408
17 years$11,224$9,394$7,821$6,482$5,350$2,893
18 years$10,490$8,680$7,140$5,841$4,757$2,461
19 years$9,834$8,045$6,536$5,278$4,240$2,097
20 years$9,244$7,476$5,999$4,780$3,787$1,789
21 years$8,712$6,963$5,518$4,338$3,389$1,528
22 years$8,228$6,500$5,085$3,945$3,038$1,307
23 years$7,787$6,079$4,695$3,592$2,727$1,119
24 years$7,383$5,696$4,342$3,277$2,451$959
25 years$7,013$5,345$4,022$2,992$2,205$822
26 years$6,671$5,024$3,730$2,736$1,987$705
27 years$6,355$4,728$3,464$2,504$1,791$605
28 years$6,062$4,455$3,220$2,295$1,616$519
29 years$5,790$4,203$2,997$2,104$1,459$446
30 years$5,537$3,969$2,791$1,931$1,319$383
31 years$5,300$3,752$2,602$1,774$1,192$329
32 years$5,079$3,550$2,428$1,630$1,078$283
33 years$4,871$3,362$2,267$1,499$976$243
34 years$4,676$3,187$2,118$1,379$884$209
35 years$4,493$3,023$1,980$1,270$800$180
36 years$4,320$2,869$1,852$1,169$725$155
37 years$4,157$2,725$1,734$1,077$657$133
38 years$4,003$2,589$1,624$993$596$114
39 years$3,857$2,462$1,521$916$540$98
40 years$3,719$2,343$1,426$844$490$85
41 years$3,588$2,230$1,337$779$445$73
42 years$3,463$2,124$1,254$719$403$63
43 years$3,345$2,024$1,177$664$366$54
44 years$3,232$1,929$1,105$613$332$46
45 years$3,124$1,839$1,037$566$302$40
46 years$3,022$1,755$974$523$274$34
47 years$2,924$1,674$915$483$249$30
48 years$2,831$1,599$860$446$226$25
49 years$2,741$1,526$808$412$205$22
50 years$2,656$1,458$760$381$186$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,720,000, adding $3,598 every year, while hoping to spend $32,373 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: 62/19/19 Blend
63$2,720,000$2,720,000$2,720,000$2,720,000
64$3,001,151$2,856,991$2,814,831$3,172,375
65$3,272,824$2,962,539$2,874,684$3,393,794
66$3,571,123$3,072,174$2,935,456$3,631,473
67$3,898,728$3,186,062$2,997,145$3,890,208
68$4,258,595$3,304,376$3,059,746$4,172,048
69$4,653,978$3,427,296$3,123,253$4,479,253
70$5,088,461$3,555,011$3,187,660$4,814,309
71$5,565,995$3,687,717$3,252,957$5,179,950
72$6,090,930$3,825,619$3,319,135$5,579,191
73$6,668,061$3,968,930$3,386,182$6,015,345
74$7,302,668$4,117,873$3,454,084$6,492,063
75$8,000,571$4,272,679$3,522,826$7,013,364
76$8,768,180$4,433,592$3,592,392$7,583,674
77$9,612,560$4,600,863$3,662,762$8,207,866
78$10,541,492$4,774,756$3,733,916$8,891,304
79$11,563,551$4,955,546$3,805,829$9,639,898
80$12,688,185$5,143,520$3,878,477$10,460,156
81$13,925,805$5,338,977$3,951,830$11,359,244
82$15,287,879$5,542,229$4,025,858$12,345,055
83$16,787,047$5,753,602$4,100,529$13,426,283
84$18,437,233$5,973,437$4,175,804$14,612,503
85$20,253,783$6,202,087$4,251,646$15,914,261
86$22,253,603$6,439,923$4,328,010$17,343,176
87$24,455,324$6,687,333$4,404,852$18,912,045
88$26,879,474$6,944,719$4,482,121$20,634,963
89$29,548,673$7,212,503$4,559,765$22,527,459
90$32,487,846$7,491,124$4,637,725$24,606,641
91$35,724,459$7,781,042$4,715,942$26,891,353
92$39,288,776$8,082,735$4,794,348$29,402,356
93$43,214,147$8,396,705$4,872,875$32,162,521
94$47,537,320$8,723,474$4,951,446$35,197,047
95$52,298,790$9,063,587$5,029,982$38,533,693
96$57,543,178$9,417,614$5,108,399$42,203,046
97$63,319,657$9,786,151$5,186,604$46,238,801
98$69,682,409$10,169,820$5,264,502$50,678,084
99$76,691,142$10,569,269$5,341,991$55,561,799
100$84,411,651$10,985,176$5,418,960$60,935,015