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%16.5%
1 years$241,957$239,801$237,699$235,646$233,642$227,441
2 years$119,781$117,550$115,388$113,292$111,258$105,053
3 years$79,060$76,820$74,664$72,587$70,587$64,573
4 years$58,704$56,471$54,336$52,295$50,343$44,567
5 years$46,494$44,274$42,167$40,167$38,270$32,747
6 years$38,356$36,153$34,077$32,122$30,282$25,017
7 years$32,546$30,361$28,318$26,409$24,627$19,621
8 years$28,190$26,025$24,016$22,154$20,431$15,681
9 years$24,804$22,660$20,685$18,870$17,206$12,708
10 years$22,097$19,973$18,034$16,267$14,660$10,409
11 years$19,884$17,781$15,877$14,157$12,608$8,597
12 years$18,040$15,959$14,090$12,417$10,926$7,148
13 years$16,482$14,423$12,589$10,963$9,528$5,974
14 years$15,147$13,110$11,311$9,731$8,352$5,015
15 years$13,991$11,976$10,212$8,679$7,354$4,225
16 years$12,981$10,988$9,259$7,771$6,499$3,569
17 years$12,091$10,119$8,425$6,982$5,763$3,023
18 years$11,300$9,351$7,691$6,292$5,124$2,566
19 years$10,593$8,666$7,041$5,686$4,567$2,181
20 years$9,958$8,053$6,462$5,149$4,079$1,857
21 years$9,384$7,501$5,944$4,673$3,651$1,583
22 years$8,863$7,002$5,478$4,249$3,272$1,351
23 years$8,388$6,549$5,058$3,870$2,937$1,153
24 years$7,953$6,136$4,678$3,530$2,640$986
25 years$7,554$5,758$4,332$3,223$2,376$843
26 years$7,186$5,412$4,018$2,947$2,140$721
27 years$6,846$5,093$3,731$2,698$1,929$618
28 years$6,530$4,799$3,469$2,472$1,741$529
29 years$6,237$4,527$3,228$2,267$1,572$453
30 years$5,964$4,276$3,007$2,080$1,420$388
31 years$5,709$4,042$2,803$1,910$1,284$333
32 years$5,471$3,824$2,615$1,756$1,162$285
33 years$5,247$3,622$2,442$1,615$1,051$245
34 years$5,037$3,433$2,282$1,486$952$210
35 years$4,840$3,256$2,133$1,368$862$180
36 years$4,654$3,090$1,995$1,259$781$154
37 years$4,478$2,935$1,868$1,160$708$132
38 years$4,312$2,789$1,749$1,070$642$114
39 years$4,155$2,652$1,639$986$582$97
40 years$4,006$2,524$1,536$910$528$84
41 years$3,865$2,402$1,440$839$479$72
42 years$3,730$2,288$1,351$775$435$62
43 years$3,603$2,180$1,268$715$394$53
44 years$3,481$2,078$1,190$660$358$45
45 years$3,366$1,981$1,117$610$325$39
46 years$3,255$1,890$1,049$563$295$33
47 years$3,150$1,804$986$520$268$29
48 years$3,049$1,722$926$481$243$25
49 years$2,953$1,644$871$444$221$21
50 years$2,861$1,571$819$411$201$18

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 $2,746 every year, while hoping to spend $27,259 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: 73/22/5 Blend
63$2,930,000$2,930,000$2,930,000$2,930,000
64$3,231,692$3,076,402$3,030,987$3,466,120
65$3,532,322$3,198,143$3,103,522$3,742,574
66$3,862,702$3,324,935$3,177,573$4,041,519
67$4,225,838$3,456,997$3,253,163$4,368,113
68$4,625,042$3,594,559$3,330,312$4,725,074
69$5,063,962$3,737,858$3,409,043$5,115,394
70$5,546,618$3,887,145$3,489,378$5,542,365
71$6,077,438$4,042,680$3,571,337$6,009,610
72$6,661,300$4,204,735$3,654,941$6,521,120
73$7,303,582$4,373,596$3,740,211$7,081,284
74$8,010,206$4,549,561$3,827,166$7,694,939
75$8,787,697$4,732,940$3,915,827$8,367,407
76$9,643,247$4,924,059$4,006,212$9,104,548
77$10,584,778$5,123,257$4,098,339$9,912,815
78$11,621,020$5,330,891$4,192,228$10,799,315
79$12,761,591$5,547,331$4,287,894$11,771,871
80$14,017,089$5,772,967$4,385,355$12,839,100
81$15,399,194$6,008,204$4,484,626$14,010,493
82$16,920,773$6,253,467$4,585,722$15,296,498
83$18,596,005$6,509,201$4,688,657$16,708,627
84$20,440,514$6,775,868$4,793,444$18,259,556
85$22,471,516$7,053,955$4,900,094$19,963,248
86$24,707,982$7,343,970$5,008,618$21,835,080
87$27,170,815$7,646,443$5,119,025$23,891,993
88$29,883,049$7,961,930$5,231,324$26,152,645
89$32,870,066$8,291,011$5,345,520$28,637,589
90$36,159,837$8,634,294$5,461,618$31,369,467
91$39,783,180$8,992,414$5,579,622$34,373,219
92$43,774,057$9,366,035$5,699,533$37,676,319
93$48,169,894$9,755,854$5,821,350$41,309,034
94$53,011,928$10,162,596$5,945,070$45,304,708
95$58,345,605$10,587,023$6,070,690$49,700,073
96$64,221,000$11,029,930$6,198,201$54,535,598
97$70,693,295$11,492,151$6,327,595$59,855,866
98$77,823,301$11,974,555$6,458,858$65,709,997
99$85,678,024$12,478,055$6,591,976$72,152,105
100$94,331,306$13,003,603$6,726,931$79,241,812