Can I retire at age 64 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$233,699$231,617$229,586$227,604$225,668$221,656
2 years$115,692$113,538$111,450$109,425$107,461$103,433
3 years$76,362$74,198$72,115$70,110$68,178$64,258
4 years$56,701$54,544$52,481$50,510$48,625$44,845
5 years$44,907$42,763$40,728$38,797$36,964$33,334
6 years$37,047$34,919$32,914$31,026$29,248$25,773
7 years$31,435$29,325$27,352$25,508$23,787$20,466
8 years$27,228$25,137$23,196$21,398$19,733$16,567
9 years$23,958$21,886$19,979$18,226$16,618$13,605
10 years$21,343$19,292$17,418$15,711$14,160$11,296
11 years$19,205$17,174$15,335$13,674$12,178$9,461
12 years$17,424$15,415$13,609$11,994$10,553$7,980
13 years$15,919$13,930$12,159$10,589$9,202$6,768
14 years$14,630$12,662$10,925$9,399$8,067$5,767
15 years$13,514$11,567$9,864$8,383$7,103$4,933
16 years$12,538$10,613$8,943$7,506$6,277$4,234
17 years$11,678$9,774$8,138$6,744$5,566$3,643
18 years$10,914$9,032$7,429$6,077$4,949$3,142
19 years$10,232$8,370$6,801$5,492$4,411$2,715
20 years$9,618$7,778$6,241$4,974$3,940$2,350
21 years$9,064$7,245$5,741$4,514$3,526$2,038
22 years$8,561$6,763$5,291$4,104$3,160$1,768
23 years$8,102$6,325$4,885$3,738$2,837$1,536
24 years$7,682$5,926$4,518$3,409$2,550$1,336
25 years$7,296$5,562$4,185$3,113$2,295$1,163
26 years$6,941$5,227$3,881$2,847$2,067$1,013
27 years$6,612$4,919$3,604$2,606$1,863$882
28 years$6,307$4,635$3,350$2,387$1,681$769
29 years$6,024$4,373$3,118$2,189$1,518$671
30 years$5,761$4,130$2,904$2,009$1,372$586
31 years$5,514$3,904$2,707$1,845$1,240$511
32 years$5,284$3,694$2,526$1,696$1,122$446
33 years$5,068$3,498$2,359$1,559$1,015$390
34 years$4,865$3,316$2,204$1,435$919$340
35 years$4,674$3,145$2,060$1,321$833$297
36 years$4,495$2,985$1,927$1,216$754$260
37 years$4,325$2,835$1,804$1,121$684$227
38 years$4,165$2,694$1,689$1,033$620$199
39 years$4,013$2,562$1,583$953$562$174
40 years$3,869$2,437$1,483$879$510$152
41 years$3,733$2,320$1,391$811$463$133
42 years$3,603$2,210$1,305$748$420$116
43 years$3,480$2,105$1,224$691$381$101
44 years$3,362$2,007$1,149$638$346$89
45 years$3,251$1,914$1,079$589$314$78
46 years$3,144$1,826$1,014$544$285$68
47 years$3,042$1,742$952$503$259$59
48 years$2,945$1,663$895$464$235$52
49 years$2,852$1,588$841$429$213$45
50 years$2,763$1,517$791$397$194$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,830,000, adding $6,450 every year, while hoping to spend $56,930 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: 31/44/25 Blend
63$2,830,000$2,830,000$2,830,000$2,830,000
64$3,125,313$2,975,323$2,931,458$3,197,966
65$3,383,522$3,060,541$2,969,089$3,339,369
66$3,666,160$3,148,026$3,006,072$3,485,977
67$3,975,659$3,237,830$3,042,326$3,642,646
68$4,314,697$3,330,005$3,077,765$3,810,293
69$4,686,223$3,424,601$3,112,297$3,989,927
70$5,093,484$3,521,673$3,145,825$4,182,656
71$5,540,057$3,621,273$3,178,248$4,389,700
72$6,029,883$3,723,456$3,209,460$4,612,404
73$6,567,300$3,828,274$3,239,346$4,852,244
74$7,157,089$3,935,784$3,267,788$5,110,849
75$7,804,514$4,046,039$3,294,660$5,390,010
76$8,515,374$4,159,094$3,319,831$5,691,699
77$9,296,058$4,275,006$3,343,161$6,018,090
78$10,153,603$4,393,829$3,364,505$6,371,573
79$11,095,763$4,515,618$3,383,708$6,754,784
80$12,131,077$4,640,430$3,400,608$7,170,625
81$13,268,955$4,768,319$3,415,037$7,622,290
82$14,519,763$4,899,341$3,426,815$8,113,301
83$15,894,920$5,033,550$3,435,754$8,647,537
84$17,407,009$5,171,001$3,441,659$9,229,270
85$19,069,891$5,311,747$3,444,322$9,863,206
86$20,898,839$5,455,842$3,443,526$10,554,533
87$22,910,680$5,603,339$3,439,044$11,308,963
88$25,123,955$5,754,287$3,430,637$12,132,794
89$27,559,089$5,908,738$3,418,054$13,032,961
90$30,238,590$6,066,740$3,401,033$14,017,110
91$33,187,258$6,228,342$3,379,299$15,093,662
92$36,432,416$6,393,588$3,352,563$16,271,899
93$40,004,172$6,562,524$3,320,524$17,562,049
94$43,935,700$6,735,190$3,282,864$18,975,383
95$48,263,553$6,911,626$3,239,252$20,524,321
96$53,028,010$7,091,870$3,189,341$22,222,550
97$58,273,451$7,275,956$3,132,768$24,085,154
98$64,048,779$7,463,914$3,069,152$26,128,756
99$70,407,881$7,655,772$2,998,095$28,371,674
100$77,410,134$7,851,554$2,919,181$30,834,097