Can I retire at age 64 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$239,479$237,346$235,265$233,234$231,250$229,026
2 years$118,554$116,346$114,206$112,132$110,119$107,878
3 years$78,251$76,033$73,899$71,844$69,864$67,676
4 years$58,103$55,893$53,780$51,759$49,828$47,710
5 years$46,018$43,821$41,735$39,756$37,878$35,837
6 years$37,964$35,783$33,728$31,793$29,972$28,009
7 years$32,213$30,050$28,028$26,139$24,375$22,492
8 years$27,902$25,759$23,770$21,927$20,221$18,418
9 years$24,550$22,428$20,473$18,677$17,029$15,304
10 years$21,871$19,769$17,849$16,100$14,510$12,863
11 years$19,680$17,599$15,714$14,012$12,479$10,908
12 years$17,855$15,796$13,946$12,290$10,814$9,318
13 years$16,313$14,275$12,460$10,850$9,430$8,008
14 years$14,992$12,975$11,195$9,632$8,266$6,915
15 years$13,848$11,853$10,108$8,590$7,278$5,997
16 years$12,848$10,875$9,164$7,691$6,433$5,218
17 years$11,967$10,016$8,339$6,911$5,704$4,554
18 years$11,184$9,255$7,612$6,228$5,071$3,985
19 years$10,485$8,577$6,969$5,627$4,520$3,494
20 years$9,856$7,970$6,396$5,097$4,038$3,070
21 years$9,288$7,424$5,883$4,626$3,613$2,701
22 years$8,772$6,930$5,422$4,206$3,239$2,380
23 years$8,302$6,482$5,006$3,830$2,907$2,100
24 years$7,872$6,073$4,630$3,493$2,613$1,855
25 years$7,477$5,699$4,288$3,190$2,351$1,640
26 years$7,112$5,356$3,977$2,917$2,118$1,451
27 years$6,776$5,041$3,693$2,670$1,910$1,285
28 years$6,463$4,750$3,433$2,446$1,723$1,139
29 years$6,173$4,481$3,195$2,243$1,556$1,009
30 years$5,903$4,232$2,976$2,059$1,406$895
31 years$5,651$4,001$2,774$1,891$1,271$795
32 years$5,415$3,785$2,588$1,738$1,150$705
33 years$5,193$3,585$2,417$1,598$1,040$626
34 years$4,986$3,398$2,258$1,470$942$556
35 years$4,790$3,223$2,111$1,354$853$494
36 years$4,606$3,059$1,975$1,247$773$439
37 years$4,432$2,905$1,849$1,149$701$391
38 years$4,268$2,761$1,731$1,059$635$347
39 years$4,112$2,625$1,622$976$576$309
40 years$3,965$2,498$1,520$900$522$275
41 years$3,825$2,378$1,425$831$474$244
42 years$3,692$2,264$1,337$767$430$217
43 years$3,566$2,157$1,255$708$390$193
44 years$3,446$2,056$1,178$653$354$172
45 years$3,331$1,961$1,106$603$322$153
46 years$3,222$1,871$1,039$557$292$136
47 years$3,118$1,785$976$515$265$121
48 years$3,018$1,704$917$476$241$108
49 years$2,923$1,628$862$440$219$96
50 years$2,831$1,555$810$406$199$86

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,900,000, adding $4,216 every year, while hoping to spend $38,287 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: 41/48/11 Blend
63$2,900,000$2,900,000$2,900,000$2,900,000
64$3,200,149$3,046,449$3,001,499$3,320,764
65$3,485,827$3,154,988$3,061,312$3,514,403
66$3,799,361$3,267,562$3,121,846$3,719,717
67$4,143,552$3,384,328$3,183,084$3,941,077
68$4,521,485$3,505,451$3,245,008$4,179,957
69$4,936,559$3,631,101$3,307,598$4,437,975
70$5,392,517$3,761,454$3,370,832$4,716,911
71$5,893,485$3,896,697$3,434,686$5,018,719
72$6,444,007$4,037,021$3,499,134$5,345,544
73$7,049,086$4,182,626$3,564,146$5,699,748
74$7,714,240$4,333,721$3,629,691$6,083,922
75$8,445,543$4,490,524$3,695,736$6,500,918
76$9,249,688$4,653,260$3,762,244$6,953,869
77$10,134,052$4,822,165$3,829,174$7,446,223
78$11,106,759$4,997,485$3,896,485$7,981,770
79$12,176,762$5,179,475$3,964,131$8,564,677
80$13,353,924$5,368,401$4,032,062$9,199,530
81$14,649,113$5,564,542$4,100,225$9,891,373
82$16,074,304$5,768,186$4,168,564$10,645,756
83$17,642,690$5,979,634$4,237,018$11,468,785
84$19,368,809$6,199,201$4,305,522$12,367,179
85$21,268,679$6,427,213$4,374,009$13,348,333
86$23,359,949$6,664,012$4,442,403$14,420,384
87$25,662,068$6,909,953$4,510,628$15,592,289
88$28,196,465$7,165,406$4,578,599$16,873,908
89$30,986,751$7,430,757$4,646,229$18,276,094
90$34,058,945$7,706,410$4,713,423$19,810,795
91$37,441,716$7,992,783$4,780,082$21,491,164
92$41,166,656$8,290,314$4,846,100$23,331,683
93$45,268,575$8,599,460$4,911,364$25,348,297
94$49,785,832$8,920,696$4,975,757$27,558,564
95$54,760,695$9,254,518$5,039,153$29,981,818
96$60,239,740$9,601,443$5,101,419$32,639,347
97$66,274,292$9,962,012$5,162,415$35,554,598
98$72,920,906$10,336,787$5,221,992$38,753,390
99$80,241,904$10,726,355$5,279,994$42,264,159
100$88,305,959$11,131,328$5,336,255$46,118,223