Can I retire at age 64 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$238,653$236,528$234,454$232,429$230,453$227,384
2 years$118,145$115,945$113,812$111,745$109,739$106,653
3 years$77,981$75,771$73,644$71,596$69,623$66,615
4 years$57,903$55,700$53,594$51,581$49,656$46,748
5 years$45,859$43,669$41,591$39,619$37,748$34,950
6 years$37,833$35,659$33,612$31,684$29,868$27,183
7 years$32,102$29,947$27,932$26,049$24,291$21,720
8 years$27,805$25,670$23,688$21,852$20,152$17,694
9 years$24,466$22,350$20,403$18,613$16,971$14,625
10 years$21,795$19,701$17,788$16,044$14,460$12,225
11 years$19,612$17,538$15,660$13,964$12,436$10,310
12 years$17,794$15,741$13,898$12,248$10,777$8,757
13 years$16,257$14,226$12,417$10,813$9,398$7,481
14 years$14,940$12,931$11,156$9,599$8,238$6,422
15 years$13,800$11,812$10,073$8,560$7,253$5,535
16 years$12,804$10,838$9,132$7,665$6,410$4,787
17 years$11,925$9,981$8,310$6,887$5,684$4,152
18 years$11,146$9,223$7,586$6,206$5,054$3,609
19 years$10,449$8,548$6,945$5,608$4,505$3,144
20 years$9,822$7,943$6,374$5,079$4,024$2,744
21 years$9,256$7,399$5,862$4,610$3,601$2,399
22 years$8,742$6,906$5,403$4,191$3,228$2,099
23 years$8,274$6,459$4,989$3,817$2,897$1,839
24 years$7,845$6,052$4,614$3,481$2,604$1,613
25 years$7,451$5,679$4,273$3,179$2,343$1,416
26 years$7,088$5,338$3,963$2,907$2,111$1,244
27 years$6,752$5,024$3,680$2,661$1,903$1,094
28 years$6,441$4,734$3,421$2,438$1,717$962
29 years$6,152$4,466$3,184$2,236$1,551$847
30 years$5,883$4,217$2,966$2,052$1,401$746
31 years$5,631$3,987$2,765$1,884$1,267$657
32 years$5,396$3,772$2,580$1,732$1,146$579
33 years$5,176$3,572$2,409$1,593$1,037$510
34 years$4,968$3,386$2,250$1,465$939$450
35 years$4,774$3,211$2,104$1,349$850$397
36 years$4,590$3,048$1,968$1,242$770$350
37 years$4,417$2,895$1,842$1,145$698$309
38 years$4,253$2,751$1,725$1,055$633$272
39 years$4,098$2,616$1,616$973$574$240
40 years$3,951$2,489$1,515$897$521$212
41 years$3,812$2,369$1,421$828$472$187
42 years$3,679$2,257$1,332$764$429$165
43 years$3,554$2,150$1,250$705$389$146
44 years$3,434$2,049$1,174$651$353$129
45 years$3,320$1,954$1,102$601$321$114
46 years$3,211$1,864$1,035$555$291$100
47 years$3,107$1,779$972$513$264$89
48 years$3,007$1,698$914$474$240$78
49 years$2,913$1,622$859$438$218$69
50 years$2,822$1,549$808$405$198$61

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,890,000, adding $2,956 every year, while hoping to spend $58,564 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: 65/10/25 Blend
63$2,890,000$2,890,000$2,890,000$2,890,000
64$3,187,829$3,034,659$2,989,864$3,374,041
65$3,450,676$3,121,046$3,027,713$3,586,361
66$3,738,371$3,209,703$3,064,867$3,811,492
67$4,053,385$3,300,679$3,101,241$4,056,240
68$4,398,443$3,394,025$3,136,745$4,322,536
69$4,776,542$3,489,790$3,171,284$4,612,510
70$5,190,986$3,588,026$3,204,758$4,928,507
71$5,645,411$3,688,783$3,237,062$5,273,109
72$6,143,822$3,792,114$3,268,083$5,649,164
73$6,690,634$3,898,068$3,297,705$6,059,808
74$7,290,704$4,006,699$3,325,804$6,508,493
75$7,949,386$4,118,058$3,352,249$6,999,029
76$8,672,578$4,232,198$3,376,904$7,535,607
77$9,466,774$4,349,169$3,399,623$8,122,850
78$10,339,131$4,469,024$3,420,256$8,765,850
79$11,297,530$4,591,814$3,438,643$9,470,216
80$12,350,657$4,717,591$3,454,616$10,242,133
81$13,508,076$4,846,405$3,467,998$11,088,411
82$14,780,329$4,978,308$3,478,605$12,016,559
83$16,179,025$5,113,348$3,486,241$13,034,849
84$17,716,959$5,251,575$3,490,703$14,152,397
85$19,408,223$5,393,037$3,491,776$15,379,247
86$21,268,347$5,537,780$3,489,235$16,726,471
87$23,314,438$5,685,852$3,482,845$18,206,268
88$25,565,348$5,837,295$3,472,357$19,832,080
89$28,041,844$5,992,154$3,457,512$21,618,722
90$30,766,812$6,150,469$3,438,038$23,582,521
91$33,765,464$6,312,279$3,413,650$25,741,467
92$37,065,582$6,477,622$3,384,048$28,115,388
93$40,697,778$6,646,532$3,348,920$30,726,133
94$44,695,780$6,819,040$3,307,938$33,597,782
95$49,096,754$6,995,177$3,260,758$36,756,869
96$53,941,649$7,174,968$3,207,020$40,232,640
97$59,275,591$7,358,435$3,146,349$44,057,321
98$65,148,300$7,545,597$3,078,349$48,266,427
99$71,614,562$7,736,467$3,002,610$52,899,099
100$78,734,749$7,931,055$2,918,699$57,998,469