Can I retire at age 64 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$241,957$239,801$237,699$235,646$233,642$228,831
2 years$119,781$117,550$115,388$113,292$111,258$106,433
3 years$79,060$76,820$74,664$72,587$70,587$65,898
4 years$58,704$56,471$54,336$52,295$50,343$45,827
5 years$46,494$44,274$42,167$40,167$38,270$33,939
6 years$38,356$36,153$34,077$32,122$30,282$26,141
7 years$32,546$30,361$28,318$26,409$24,627$20,677
8 years$28,190$26,025$24,016$22,154$20,431$16,670
9 years$24,804$22,660$20,685$18,870$17,206$13,632
10 years$22,097$19,973$18,034$16,267$14,660$11,270
11 years$19,884$17,781$15,877$14,157$12,608$9,398
12 years$18,040$15,959$14,090$12,417$10,926$7,890
13 years$16,482$14,423$12,589$10,963$9,528$6,661
14 years$15,147$13,110$11,311$9,731$8,352$5,650
15 years$13,991$11,976$10,212$8,679$7,354$4,809
16 years$12,981$10,988$9,259$7,771$6,499$4,107
17 years$12,091$10,119$8,425$6,982$5,763$3,516
18 years$11,300$9,351$7,691$6,292$5,124$3,017
19 years$10,593$8,666$7,041$5,686$4,567$2,594
20 years$9,958$8,053$6,462$5,149$4,079$2,234
21 years$9,384$7,501$5,944$4,673$3,651$1,926
22 years$8,863$7,002$5,478$4,249$3,272$1,663
23 years$8,388$6,549$5,058$3,870$2,937$1,437
24 years$7,953$6,136$4,678$3,530$2,640$1,243
25 years$7,554$5,758$4,332$3,223$2,376$1,075
26 years$7,186$5,412$4,018$2,947$2,140$931
27 years$6,846$5,093$3,731$2,698$1,929$807
28 years$6,530$4,799$3,469$2,472$1,741$700
29 years$6,237$4,527$3,228$2,267$1,572$607
30 years$5,964$4,276$3,007$2,080$1,420$526
31 years$5,709$4,042$2,803$1,910$1,284$457
32 years$5,471$3,824$2,615$1,756$1,162$397
33 years$5,247$3,622$2,442$1,615$1,051$344
34 years$5,037$3,433$2,282$1,486$952$299
35 years$4,840$3,256$2,133$1,368$862$260
36 years$4,654$3,090$1,995$1,259$781$226
37 years$4,478$2,935$1,868$1,160$708$196
38 years$4,312$2,789$1,749$1,070$642$170
39 years$4,155$2,652$1,639$986$582$148
40 years$4,006$2,524$1,536$910$528$129
41 years$3,865$2,402$1,440$839$479$112
42 years$3,730$2,288$1,351$775$435$97
43 years$3,603$2,180$1,268$715$394$84
44 years$3,481$2,078$1,190$660$358$73
45 years$3,366$1,981$1,117$610$325$64
46 years$3,255$1,890$1,049$563$295$55
47 years$3,150$1,804$986$520$268$48
48 years$3,049$1,722$926$481$243$42
49 years$2,953$1,644$871$444$221$36
50 years$2,861$1,571$819$411$201$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,930,000, adding $4,376 every year, while hoping to spend $43,091 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: 85/9/6 Blend
63$2,930,000$2,930,000$2,930,000$2,930,000
64$3,233,374$3,078,084$3,032,669$3,506,939
65$3,517,329$3,183,061$3,088,415$3,790,977
66$3,828,804$3,291,739$3,144,584$4,096,614
67$4,170,560$3,404,252$3,201,145$4,431,005
68$4,545,638$3,520,741$3,258,064$4,797,011
69$4,957,389$3,641,353$3,315,305$5,197,782
70$5,409,504$3,766,240$3,372,829$5,636,787
71$5,906,047$3,895,560$3,430,593$6,117,848
72$6,451,499$4,029,478$3,488,553$6,645,172
73$7,050,792$4,168,162$3,546,660$7,223,393
74$7,709,362$4,311,792$3,604,862$7,857,618
75$8,433,198$4,460,550$3,663,105$8,553,468
76$9,228,895$4,614,628$3,721,330$9,317,138
77$10,103,721$4,774,224$3,779,474$10,155,450
78$11,065,685$4,939,545$3,837,471$11,075,921
79$12,123,608$5,110,805$3,895,249$12,086,829
80$13,287,209$5,288,228$3,952,733$13,197,297
81$14,567,197$5,472,044$4,009,843$14,417,372
82$15,975,373$5,662,496$4,066,494$15,758,125
83$17,524,735$5,859,832$4,122,596$17,231,750
84$19,229,609$6,064,315$4,178,053$18,851,684
85$21,105,776$6,276,213$4,232,765$20,632,730
86$23,170,626$6,495,809$4,286,624$22,591,198
87$25,443,322$6,723,395$4,339,517$24,745,056
88$27,944,975$6,959,276$4,391,325$27,114,102
89$30,698,849$7,203,767$4,441,922$29,720,150
90$33,730,578$7,457,198$4,491,173$32,587,235
91$37,068,408$7,719,912$4,538,938$35,741,837
92$40,743,462$7,992,263$4,585,068$39,213,134
93$44,790,034$8,274,624$4,629,407$43,033,276
94$49,245,915$8,567,378$4,671,790$47,237,688
95$54,152,746$8,870,927$4,712,043$51,865,401
96$59,556,412$9,185,688$4,749,982$56,959,425
97$65,507,474$9,512,095$4,785,414$62,567,150
98$72,061,649$9,850,600$4,818,138$68,740,795
99$79,280,330$10,201,672$4,847,938$75,537,901
100$87,231,171$10,565,802$4,874,592$83,021,870