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

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$241,131$238,983$236,887$234,842$232,845$226,756
2 years$119,372$117,149$114,994$112,905$110,879$104,786
3 years$78,791$76,558$74,409$72,339$70,346$64,440
4 years$58,504$56,278$54,150$52,116$50,171$44,497
5 years$46,335$44,123$42,023$40,030$38,139$32,713
6 years$38,225$36,030$33,961$32,013$30,178$25,005
7 years$32,435$30,258$28,222$26,319$24,543$19,623
8 years$28,094$25,936$23,934$22,079$20,361$15,691
9 years$24,720$22,582$20,614$18,806$17,147$12,724
10 years$22,022$19,905$17,972$16,211$14,610$10,429
11 years$19,816$17,720$15,822$14,108$12,565$8,619
12 years$17,979$15,905$14,042$12,375$10,889$7,170
13 years$16,425$14,373$12,546$10,925$9,495$5,997
14 years$15,095$13,065$11,272$9,698$8,323$5,038
15 years$13,944$11,935$10,177$8,649$7,329$4,247
16 years$12,937$10,950$9,227$7,744$6,477$3,591
17 years$12,049$10,085$8,396$6,958$5,743$3,043
18 years$11,261$9,319$7,665$6,271$5,106$2,585
19 years$10,557$8,637$7,017$5,666$4,551$2,199
20 years$9,924$8,025$6,440$5,132$4,065$1,874
21 years$9,352$7,475$5,923$4,657$3,638$1,598
22 years$8,833$6,978$5,459$4,235$3,261$1,365
23 years$8,360$6,526$5,041$3,857$2,927$1,167
24 years$7,926$6,115$4,662$3,517$2,631$998
25 years$7,528$5,738$4,318$3,212$2,368$854
26 years$7,161$5,393$4,004$2,937$2,133$731
27 years$6,822$5,076$3,718$2,688$1,923$627
28 years$6,508$4,783$3,457$2,463$1,735$537
29 years$6,216$4,512$3,217$2,259$1,567$460
30 years$5,944$4,261$2,996$2,073$1,416$395
31 years$5,690$4,028$2,793$1,904$1,280$339
32 years$5,452$3,811$2,606$1,750$1,158$291
33 years$5,229$3,609$2,434$1,609$1,048$249
34 years$5,020$3,421$2,274$1,480$949$214
35 years$4,823$3,245$2,126$1,363$859$184
36 years$4,638$3,080$1,989$1,255$778$158
37 years$4,463$2,925$1,861$1,156$706$135
38 years$4,297$2,780$1,743$1,066$640$116
39 years$4,140$2,643$1,633$983$580$100
40 years$3,992$2,515$1,531$907$526$86
41 years$3,851$2,394$1,435$836$477$74
42 years$3,718$2,280$1,346$772$433$63
43 years$3,590$2,172$1,263$713$393$54
44 years$3,469$2,071$1,186$658$357$47
45 years$3,354$1,975$1,113$608$324$40
46 years$3,244$1,884$1,046$561$294$34
47 years$3,139$1,798$983$519$267$30
48 years$3,039$1,716$923$479$243$25
49 years$2,943$1,639$868$443$220$22
50 years$2,851$1,565$816$409$200$19

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 $3,553 every year, while hoping to spend $34,197 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: 55/26/19 Blend
63$2,920,000$2,920,000$2,920,000$2,920,000
64$3,221,505$3,066,745$3,021,485$3,382,016
65$3,513,713$3,180,630$3,086,319$3,605,928
66$3,834,580$3,298,949$3,152,180$3,845,695
67$4,186,994$3,421,884$3,219,064$4,106,045
68$4,574,134$3,549,623$3,286,969$4,388,956
69$4,999,505$3,682,364$3,355,892$4,696,605
70$5,466,965$3,820,311$3,425,825$5,031,387
71$5,980,769$3,963,679$3,496,764$5,395,936
72$6,545,600$4,112,692$3,568,698$5,793,151
73$7,166,619$4,267,582$3,641,617$6,226,221
74$7,849,514$4,428,593$3,715,511$6,698,659
75$8,600,549$4,595,979$3,790,365$7,214,326
76$9,426,626$4,770,003$3,866,164$7,777,477
77$10,335,351$4,950,943$3,942,889$8,392,792
78$11,335,103$5,139,085$4,020,523$9,065,425
79$12,435,115$5,334,732$4,099,041$9,801,050
80$13,645,559$5,538,195$4,178,421$10,605,913
81$14,977,642$5,749,803$4,258,635$11,486,892
82$16,443,716$5,969,898$4,339,653$12,451,558
83$18,057,388$6,198,835$4,421,444$13,508,252
84$19,833,651$6,436,988$4,503,972$14,666,155
85$21,789,026$6,684,743$4,587,198$15,935,379
86$23,941,719$6,942,508$4,671,081$17,327,061
87$26,311,788$7,210,705$4,755,576$18,853,465
88$28,921,336$7,489,775$4,840,634$20,528,099
89$31,794,720$7,780,181$4,926,203$22,365,840
90$34,958,776$8,082,405$5,012,225$24,383,076
91$38,443,077$8,396,948$5,098,640$26,597,856
92$42,280,210$8,724,338$5,185,384$29,030,061
93$46,506,082$9,065,121$5,272,385$31,701,590
94$51,160,262$9,419,872$5,359,569$34,636,568
95$56,286,350$9,789,187$5,446,857$37,861,570
96$61,932,394$10,173,694$5,534,162$41,405,870
97$68,151,337$10,574,043$5,621,395$45,301,717
98$75,001,519$10,990,917$5,708,458$49,584,640
99$82,547,231$11,425,029$5,795,248$54,293,778
100$90,859,315$11,877,122$5,881,656$59,472,251