Can I retire at age 64 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$237,828$235,709$233,642$231,625$229,655$222,840
2 years$117,736$115,544$113,419$111,358$109,360$102,549
3 years$77,711$75,509$73,389$71,348$69,382$62,791
4 years$57,703$55,507$53,409$51,402$49,484$43,162
5 years$45,701$43,518$41,447$39,482$37,617$31,581
6 years$37,702$35,536$33,496$31,574$29,765$24,021
7 years$31,991$29,843$27,835$25,959$24,207$18,755
8 years$27,709$25,581$23,606$21,776$20,082$14,918
9 years$24,381$22,273$20,332$18,548$16,912$12,032
10 years$21,720$19,632$17,726$15,989$14,410$9,806
11 years$19,544$17,478$15,606$13,915$12,393$8,057
12 years$17,732$15,687$13,850$12,205$10,739$6,664
13 years$16,200$14,176$12,374$10,776$9,365$5,540
14 years$14,888$12,886$11,118$9,565$8,209$4,625
15 years$13,752$11,772$10,038$8,531$7,228$3,874
16 years$12,759$10,800$9,101$7,638$6,388$3,254
17 years$11,884$9,947$8,281$6,863$5,664$2,740
18 years$11,107$9,191$7,560$6,185$5,036$2,312
19 years$10,413$8,518$6,921$5,589$4,489$1,954
20 years$9,788$7,916$6,351$5,062$4,010$1,653
21 years$9,224$7,373$5,842$4,594$3,588$1,400
22 years$8,712$6,882$5,384$4,177$3,216$1,188
23 years$8,245$6,437$4,972$3,804$2,887$1,008
24 years$7,818$6,031$4,598$3,469$2,595$856
25 years$7,425$5,660$4,259$3,168$2,335$727
26 years$7,063$5,319$3,950$2,897$2,103$618
27 years$6,729$5,006$3,668$2,652$1,896$526
28 years$6,419$4,717$3,409$2,429$1,711$447
29 years$6,131$4,450$3,173$2,228$1,545$381
30 years$5,862$4,203$2,955$2,045$1,396$324
31 years$5,612$3,973$2,755$1,878$1,262$276
32 years$5,377$3,759$2,571$1,726$1,142$235
33 years$5,158$3,560$2,400$1,587$1,033$200
34 years$4,951$3,374$2,243$1,460$936$171
35 years$4,757$3,200$2,097$1,344$847$145
36 years$4,574$3,038$1,961$1,238$768$124
37 years$4,401$2,885$1,836$1,141$696$105
38 years$4,238$2,742$1,719$1,051$631$90
39 years$4,084$2,607$1,611$969$572$77
40 years$3,937$2,480$1,510$894$519$65
41 years$3,799$2,361$1,416$825$471$56
42 years$3,667$2,249$1,328$761$427$47
43 years$3,541$2,143$1,246$703$388$40
44 years$3,422$2,042$1,170$649$352$34
45 years$3,308$1,948$1,098$599$319$29
46 years$3,200$1,858$1,031$554$290$25
47 years$3,096$1,773$969$511$263$21
48 years$2,997$1,693$911$473$239$18
49 years$2,902$1,616$856$437$217$16
50 years$2,812$1,544$805$404$197$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,880,000, adding $3,864 every year, while hoping to spend $58,804 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: 80/8/12 Blend
63$2,880,000$2,880,000$2,880,000$2,880,000
64$3,177,746$3,025,106$2,980,466$3,424,648
65$3,439,309$3,110,769$3,017,744$3,673,013
66$3,725,580$3,198,659$3,054,301$3,937,476
67$4,039,019$3,288,822$3,090,049$4,225,986
68$4,382,331$3,381,307$3,124,898$4,540,921
69$4,758,498$3,476,160$3,158,751$4,884,902
70$5,170,803$3,573,430$3,191,507$5,260,815
71$5,622,861$3,673,164$3,223,060$5,671,838
72$6,118,656$3,775,412$3,253,295$6,121,474
73$6,662,572$3,880,221$3,282,094$6,613,577
74$7,259,443$3,987,640$3,309,332$7,152,397
75$7,914,588$4,097,717$3,334,877$7,742,612
76$8,633,872$4,210,500$3,358,591$8,389,379
77$9,423,749$4,326,038$3,380,326$9,098,375
78$10,291,335$4,444,377$3,399,931$9,875,857
79$11,244,465$4,565,565$3,417,242$10,728,718
80$12,291,772$4,689,649$3,432,092$11,664,551
81$13,442,766$4,816,675$3,444,300$12,691,722
82$14,707,924$4,946,688$3,453,680$13,819,449
83$16,098,790$5,079,733$3,460,035$15,057,888
84$17,628,079$5,215,853$3,463,159$16,418,228
85$19,309,802$5,355,089$3,462,834$17,912,799
86$21,159,397$5,497,483$3,458,834$19,555,183
87$23,193,871$5,643,075$3,450,920$21,360,350
88$25,431,961$5,791,901$3,438,842$23,344,791
89$27,894,315$5,943,998$3,422,336$25,526,679
90$30,603,680$6,099,399$3,401,129$27,926,038
91$33,585,120$6,258,135$3,374,933$30,564,932
92$36,866,254$6,420,235$3,343,444$33,467,672
93$40,477,510$6,585,724$3,306,347$36,661,050
94$44,452,417$6,754,626$3,263,311$40,174,586
95$48,827,920$6,926,959$3,213,988$44,040,808
96$53,644,727$7,102,739$3,158,016$48,295,563
97$58,947,694$7,281,978$3,095,014$52,978,348
98$64,786,246$7,464,682$3,024,585$58,132,689
99$71,214,846$7,650,854$2,946,311$63,806,550
100$78,293,506$7,840,492$2,859,758$70,052,784