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%17.1%
1 years$241,957$239,801$237,699$235,646$233,642$226,891
2 years$119,781$117,550$115,388$113,292$111,258$104,510
3 years$79,060$76,820$74,664$72,587$70,587$64,053
4 years$58,704$56,471$54,336$52,295$50,343$44,074
5 years$46,494$44,274$42,167$40,167$38,270$32,283
6 years$38,356$36,153$34,077$32,122$30,282$24,582
7 years$32,546$30,361$28,318$26,409$24,627$19,214
8 years$28,190$26,025$24,016$22,154$20,431$15,302
9 years$24,804$22,660$20,685$18,870$17,206$12,356
10 years$22,097$19,973$18,034$16,267$14,660$10,083
11 years$19,884$17,781$15,877$14,157$12,608$8,295
12 years$18,040$15,959$14,090$12,417$10,926$6,870
13 years$16,482$14,423$12,589$10,963$9,528$5,719
14 years$15,147$13,110$11,311$9,731$8,352$4,781
15 years$13,991$11,976$10,212$8,679$7,354$4,010
16 years$12,981$10,988$9,259$7,771$6,499$3,374
17 years$12,091$10,119$8,425$6,982$5,763$2,845
18 years$11,300$9,351$7,691$6,292$5,124$2,404
19 years$10,593$8,666$7,041$5,686$4,567$2,034
20 years$9,958$8,053$6,462$5,149$4,079$1,724
21 years$9,384$7,501$5,944$4,673$3,651$1,463
22 years$8,863$7,002$5,478$4,249$3,272$1,242
23 years$8,388$6,549$5,058$3,870$2,937$1,056
24 years$7,953$6,136$4,678$3,530$2,640$898
25 years$7,554$5,758$4,332$3,223$2,376$764
26 years$7,186$5,412$4,018$2,947$2,140$651
27 years$6,846$5,093$3,731$2,698$1,929$555
28 years$6,530$4,799$3,469$2,472$1,741$473
29 years$6,237$4,527$3,228$2,267$1,572$403
30 years$5,964$4,276$3,007$2,080$1,420$344
31 years$5,709$4,042$2,803$1,910$1,284$293
32 years$5,471$3,824$2,615$1,756$1,162$250
33 years$5,247$3,622$2,442$1,615$1,051$213
34 years$5,037$3,433$2,282$1,486$952$182
35 years$4,840$3,256$2,133$1,368$862$155
36 years$4,654$3,090$1,995$1,259$781$133
37 years$4,478$2,935$1,868$1,160$708$113
38 years$4,312$2,789$1,749$1,070$642$97
39 years$4,155$2,652$1,639$986$582$82
40 years$4,006$2,524$1,536$910$528$70
41 years$3,865$2,402$1,440$839$479$60
42 years$3,730$2,288$1,351$775$435$51
43 years$3,603$2,180$1,268$715$394$44
44 years$3,481$2,078$1,190$660$358$37
45 years$3,366$1,981$1,117$610$325$32
46 years$3,255$1,890$1,049$563$295$27
47 years$3,150$1,804$986$520$268$23
48 years$3,049$1,722$926$481$243$20
49 years$2,953$1,644$871$444$221$17
50 years$2,861$1,571$819$411$201$14

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 $2,581 every year, while hoping to spend $38,915 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: 45/50/5 Blend
63$2,930,000$2,930,000$2,930,000$2,930,000
64$3,231,522$3,076,232$3,030,817$3,372,421
65$3,519,732$3,185,562$3,090,944$3,578,972
66$3,836,035$3,298,945$3,151,782$3,798,533
67$4,183,256$3,416,539$3,213,311$4,035,675
68$4,564,506$3,538,507$3,275,515$4,292,023
69$4,983,211$3,665,020$3,338,370$4,569,366
70$5,443,148$3,796,255$3,401,855$4,869,669
71$5,948,476$3,932,398$3,465,944$5,195,089
72$6,503,776$4,073,641$3,530,608$5,547,999
73$7,114,096$4,220,184$3,595,818$5,931,005
74$7,784,997$4,372,236$3,661,542$6,346,973
75$8,522,605$4,530,015$3,727,742$6,799,053
76$9,333,672$4,693,746$3,794,382$7,290,710
77$10,225,632$4,863,666$3,861,420$7,825,752
78$11,206,681$5,040,019$3,928,811$8,408,370
79$12,285,844$5,223,062$3,996,508$9,043,172
80$13,473,068$5,413,060$4,064,460$9,735,228
81$14,779,313$5,610,292$4,132,611$10,490,113
82$16,216,652$5,815,045$4,200,902$11,313,967
83$17,798,390$6,027,622$4,269,272$12,213,539
84$19,539,186$6,248,335$4,337,653$13,196,262
85$21,455,192$6,477,513$4,405,973$14,270,313
86$23,564,205$6,715,495$4,474,157$15,444,692
87$25,885,836$6,962,636$4,542,123$16,729,307
88$28,441,693$7,219,307$4,609,786$18,135,063
89$31,255,585$7,485,893$4,677,054$19,673,965
90$34,353,750$7,762,796$4,743,830$21,359,228
91$37,765,095$8,050,436$4,810,011$23,205,405
92$41,521,476$8,349,248$4,875,487$25,228,516
93$45,657,994$8,659,689$4,940,144$27,446,200
94$50,213,329$8,982,234$5,003,859$29,877,882
95$55,230,103$9,317,377$5,066,502$32,544,951
96$60,755,280$9,665,635$5,127,936$35,470,960
97$66,840,614$10,027,547$5,188,018$38,681,851
98$73,543,133$10,403,673$5,246,593$42,206,189
99$80,925,680$10,794,601$5,303,501$46,075,437
100$89,057,502$11,200,939$5,358,572$50,324,249