Can I retire at age 64 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$243,608$241,438$239,321$237,255$235,237$229,924
2 years$120,598$118,352$116,175$114,065$112,018$106,693
3 years$79,600$77,344$75,173$73,082$71,069$65,899
4 years$59,105$56,856$54,707$52,652$50,687$45,712
5 years$46,811$44,576$42,455$40,442$38,531$33,765
6 years$38,618$36,400$34,310$32,341$30,488$25,936
7 years$32,768$30,568$28,512$26,590$24,795$20,458
8 years$28,383$26,203$24,180$22,305$20,570$16,445
9 years$24,974$22,814$20,826$18,999$17,323$13,408
10 years$22,248$20,110$18,157$16,378$14,760$11,051
11 years$20,019$17,902$15,985$14,253$12,694$9,186
12 years$18,163$16,068$14,186$12,502$11,000$7,687
13 years$16,594$14,521$12,674$11,038$9,593$6,468
14 years$15,250$13,199$11,388$9,798$8,409$5,467
15 years$14,087$12,058$10,282$8,738$7,404$4,638
16 years$13,070$11,063$9,322$7,824$6,544$3,947
17 years$12,173$10,188$8,483$7,030$5,802$3,367
18 years$11,377$9,414$7,744$6,335$5,159$2,879
19 years$10,666$8,725$7,089$5,724$4,598$2,466
20 years$10,026$8,108$6,506$5,185$4,107$2,115
21 years$9,448$7,552$5,984$4,705$3,675$1,817
22 years$8,924$7,050$5,515$4,278$3,295$1,562
23 years$8,445$6,593$5,092$3,896$2,957$1,345
24 years$8,008$6,178$4,710$3,554$2,658$1,158
25 years$7,606$5,797$4,362$3,245$2,392$999
26 years$7,235$5,449$4,046$2,967$2,155$861
27 years$6,892$5,128$3,757$2,716$1,943$743
28 years$6,575$4,832$3,492$2,489$1,753$642
29 years$6,280$4,558$3,250$2,282$1,583$554
30 years$6,005$4,305$3,027$2,094$1,430$479
31 years$5,748$4,070$2,822$1,923$1,293$414
32 years$5,508$3,851$2,633$1,768$1,170$358
33 years$5,283$3,647$2,459$1,626$1,058$309
34 years$5,072$3,456$2,297$1,496$958$268
35 years$4,873$3,278$2,148$1,377$868$231
36 years$4,685$3,111$2,009$1,268$786$200
37 years$4,508$2,955$1,880$1,168$713$173
38 years$4,341$2,808$1,761$1,077$646$150
39 years$4,183$2,671$1,650$993$586$130
40 years$4,033$2,541$1,546$916$531$112
41 years$3,891$2,419$1,450$845$482$97
42 years$3,756$2,303$1,360$780$438$84
43 years$3,627$2,195$1,276$720$397$73
44 years$3,505$2,092$1,198$665$360$63
45 years$3,388$1,995$1,125$614$327$54
46 years$3,277$1,903$1,057$567$297$47
47 years$3,171$1,816$993$524$270$41
48 years$3,070$1,734$933$484$245$35
49 years$2,973$1,656$877$447$223$31
50 years$2,880$1,581$824$414$202$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,950,000, adding $6,211 every year, while hoping to spend $38,031 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: 60/34/6 Blend
63$2,950,000$2,950,000$2,950,000$2,950,000
64$3,257,307$3,100,957$3,055,232$3,448,662
65$3,549,087$3,212,439$3,117,117$3,688,929
66$3,869,355$3,328,109$3,179,801$3,945,934
67$4,220,975$3,448,132$3,243,271$4,225,273
68$4,607,104$3,572,680$3,307,510$4,529,095
69$5,031,219$3,701,932$3,372,502$4,859,761
70$5,497,151$3,836,075$3,438,229$5,219,870
71$6,009,120$3,975,302$3,504,669$5,612,279
72$6,571,775$4,119,816$3,571,799$6,040,134
73$7,190,236$4,269,827$3,639,595$6,506,894
74$7,870,147$4,425,555$3,708,028$7,016,367
75$8,617,723$4,587,229$3,777,068$7,572,743
76$9,439,815$4,755,087$3,846,684$8,180,633
77$10,343,966$4,929,377$3,916,838$8,845,114
78$11,338,492$5,110,358$3,987,494$9,571,772
79$12,432,552$5,298,299$4,058,609$10,366,758
80$13,636,239$5,493,482$4,130,138$11,236,842
81$14,960,671$5,696,199$4,202,034$12,189,479
82$16,418,103$5,906,755$4,274,245$13,232,874
83$18,022,032$6,125,469$4,346,715$14,376,066
84$19,787,335$6,352,673$4,419,386$15,629,003
85$21,730,401$6,588,712$4,492,193$17,002,642
86$23,869,290$6,833,947$4,565,070$18,509,049
87$26,223,901$7,088,753$4,637,942$20,161,511
88$28,816,160$7,353,523$4,710,735$21,974,660
89$31,670,228$7,628,666$4,783,364$23,964,614
90$34,812,728$7,914,607$4,855,744$26,149,122
91$38,272,995$8,211,792$4,927,780$28,547,732
92$42,083,355$8,520,684$4,999,375$31,181,979
93$46,279,427$8,841,767$5,070,424$34,075,580
94$50,900,460$9,175,545$5,140,815$37,254,661
95$55,989,705$9,522,546$5,210,431$40,747,998
96$61,594,822$9,883,317$5,279,147$44,587,293
97$67,768,327$10,258,433$5,346,831$48,807,466
98$74,568,090$10,648,490$5,413,344$53,446,987
99$82,057,883$11,054,113$5,478,538$58,548,233
100$90,307,975$11,475,953$5,542,257$64,157,891