Can I retire at age 64 with 2,920,000?

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 $2,920,000?

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$241,131$238,983$236,887$234,842$232,845$225,935
2 years$119,372$117,149$114,994$112,905$110,879$103,974
3 years$78,791$76,558$74,409$72,339$70,346$63,663
4 years$58,504$56,278$54,150$52,116$50,171$43,761
5 years$46,335$44,123$42,023$40,030$38,139$32,020
6 years$38,225$36,030$33,961$32,013$30,178$24,355
7 years$32,435$30,258$28,222$26,319$24,543$19,015
8 years$28,094$25,936$23,934$22,079$20,361$15,126
9 years$24,720$22,582$20,614$18,806$17,147$12,199
10 years$22,022$19,905$17,972$16,211$14,610$9,942
11 years$19,816$17,720$15,822$14,108$12,565$8,169
12 years$17,979$15,905$14,042$12,375$10,889$6,756
13 years$16,425$14,373$12,546$10,925$9,495$5,616
14 years$15,095$13,065$11,272$9,698$8,323$4,689
15 years$13,944$11,935$10,177$8,649$7,329$3,928
16 years$12,937$10,950$9,227$7,744$6,477$3,300
17 years$12,049$10,085$8,396$6,958$5,743$2,778
18 years$11,261$9,319$7,665$6,271$5,106$2,344
19 years$10,557$8,637$7,017$5,666$4,551$1,981
20 years$9,924$8,025$6,440$5,132$4,065$1,676
21 years$9,352$7,475$5,923$4,657$3,638$1,420
22 years$8,833$6,978$5,459$4,235$3,261$1,204
23 years$8,360$6,526$5,041$3,857$2,927$1,022
24 years$7,926$6,115$4,662$3,517$2,631$868
25 years$7,528$5,738$4,318$3,212$2,368$737
26 years$7,161$5,393$4,004$2,937$2,133$627
27 years$6,822$5,076$3,718$2,688$1,923$533
28 years$6,508$4,783$3,457$2,463$1,735$454
29 years$6,216$4,512$3,217$2,259$1,567$386
30 years$5,944$4,261$2,996$2,073$1,416$329
31 years$5,690$4,028$2,793$1,904$1,280$280
32 years$5,452$3,811$2,606$1,750$1,158$238
33 years$5,229$3,609$2,434$1,609$1,048$203
34 years$5,020$3,421$2,274$1,480$949$173
35 years$4,823$3,245$2,126$1,363$859$147
36 years$4,638$3,080$1,989$1,255$778$126
37 years$4,463$2,925$1,861$1,156$706$107
38 years$4,297$2,780$1,743$1,066$640$91
39 years$4,140$2,643$1,633$983$580$78
40 years$3,992$2,515$1,531$907$526$66
41 years$3,851$2,394$1,435$836$477$56
42 years$3,718$2,280$1,346$772$433$48
43 years$3,590$2,172$1,263$713$393$41
44 years$3,469$2,071$1,186$658$357$35
45 years$3,354$1,975$1,113$608$324$30
46 years$3,244$1,884$1,046$561$294$25
47 years$3,139$1,798$983$519$267$22
48 years$3,039$1,716$923$479$243$18
49 years$2,943$1,639$868$443$220$16
50 years$2,851$1,565$816$409$200$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,920,000, adding $3,663 every year, while hoping to spend $30,341 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: 34/50/16 Blend
63$2,920,000$2,920,000$2,920,000$2,920,000
64$3,221,618$3,066,858$3,021,598$3,315,051
65$3,517,941$3,184,852$3,090,539$3,501,692
66$3,843,471$3,307,610$3,160,773$3,699,728
67$4,201,157$3,435,335$3,232,310$3,912,634
68$4,594,245$3,568,236$3,305,162$4,141,739
69$5,026,311$3,706,533$3,379,339$4,388,501
70$5,501,297$3,850,455$3,454,849$4,654,517
71$6,023,544$4,000,242$3,531,701$4,941,540
72$6,597,836$4,156,144$3,609,903$5,251,497
73$7,229,442$4,318,422$3,689,462$5,586,499
74$7,924,168$4,487,348$3,770,382$5,948,866
75$8,688,412$4,663,206$3,852,668$6,341,144
76$9,529,222$4,846,296$3,936,325$6,766,132
77$10,454,365$5,036,926$4,021,354$7,226,903
78$11,472,396$5,235,422$4,107,756$7,726,833
79$12,592,746$5,442,123$4,195,530$8,269,632
80$13,825,800$5,657,381$4,284,675$8,859,379
81$15,183,008$5,881,569$4,375,188$9,500,555
82$16,676,980$6,115,071$4,467,062$10,198,089
83$18,321,614$6,358,292$4,560,291$10,957,397
84$20,132,224$6,611,653$4,654,866$11,784,438
85$22,125,683$6,875,596$4,750,776$12,685,764
86$24,320,584$7,150,582$4,848,008$13,668,579
87$26,737,414$7,437,091$4,946,547$14,740,812
88$29,398,749$7,735,627$5,046,375$15,911,181
89$32,329,465$8,046,717$5,147,472$17,189,279
90$35,556,974$8,370,909$5,249,816$18,585,662
91$39,111,480$8,708,779$5,353,380$20,111,945
92$43,026,269$9,060,926$5,458,135$21,780,909
93$47,338,016$9,427,979$5,564,051$23,606,620
94$52,087,138$9,810,595$5,671,091$25,604,559
95$57,318,171$10,209,459$5,779,218$27,791,768
96$63,080,192$10,625,289$5,888,388$30,187,004
97$69,427,278$11,058,835$5,998,556$32,810,914
98$76,419,024$11,510,882$6,109,671$35,686,231
99$84,121,098$11,982,249$6,221,679$38,837,980
100$92,605,864$12,473,793$6,334,520$42,293,715