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%12.6%
1 years$243,608$241,438$239,321$237,255$235,237$232,684
2 years$120,598$118,352$116,175$114,065$112,018$109,447
3 years$79,600$77,344$75,173$73,082$71,069$68,560
4 years$59,105$56,856$54,707$52,652$50,687$48,260
5 years$46,811$44,576$42,455$40,442$38,531$36,193
6 years$38,618$36,400$34,310$32,341$30,488$28,242
7 years$32,768$30,568$28,512$26,590$24,795$22,641
8 years$28,383$26,203$24,180$22,305$20,570$18,508
9 years$24,974$22,814$20,826$18,999$17,323$15,352
10 years$22,248$20,110$18,157$16,378$14,760$12,880
11 years$20,019$17,902$15,985$14,253$12,694$10,903
12 years$18,163$16,068$14,186$12,502$11,000$9,296
13 years$16,594$14,521$12,674$11,038$9,593$7,973
14 years$15,250$13,199$11,388$9,798$8,409$6,871
15 years$14,087$12,058$10,282$8,738$7,404$5,947
16 years$13,070$11,063$9,322$7,824$6,544$5,164
17 years$12,173$10,188$8,483$7,030$5,802$4,497
18 years$11,377$9,414$7,744$6,335$5,159$3,927
19 years$10,666$8,725$7,089$5,724$4,598$3,436
20 years$10,026$8,108$6,506$5,185$4,107$3,012
21 years$9,448$7,552$5,984$4,705$3,675$2,644
22 years$8,924$7,050$5,515$4,278$3,295$2,325
23 years$8,445$6,593$5,092$3,896$2,957$2,047
24 years$8,008$6,178$4,710$3,554$2,658$1,804
25 years$7,606$5,797$4,362$3,245$2,392$1,591
26 years$7,235$5,449$4,046$2,967$2,155$1,404
27 years$6,892$5,128$3,757$2,716$1,943$1,241
28 years$6,575$4,832$3,492$2,489$1,753$1,096
29 years$6,280$4,558$3,250$2,282$1,583$970
30 years$6,005$4,305$3,027$2,094$1,430$858
31 years$5,748$4,070$2,822$1,923$1,293$760
32 years$5,508$3,851$2,633$1,768$1,170$673
33 years$5,283$3,647$2,459$1,626$1,058$596
34 years$5,072$3,456$2,297$1,496$958$528
35 years$4,873$3,278$2,148$1,377$868$468
36 years$4,685$3,111$2,009$1,268$786$415
37 years$4,508$2,955$1,880$1,168$713$368
38 years$4,341$2,808$1,761$1,077$646$326
39 years$4,183$2,671$1,650$993$586$289
40 years$4,033$2,541$1,546$916$531$257
41 years$3,891$2,419$1,450$845$482$228
42 years$3,756$2,303$1,360$780$438$202
43 years$3,627$2,195$1,276$720$397$179
44 years$3,505$2,092$1,198$665$360$159
45 years$3,388$1,995$1,125$614$327$141
46 years$3,277$1,903$1,057$567$297$125
47 years$3,171$1,816$993$524$270$111
48 years$3,070$1,734$933$484$245$99
49 years$2,973$1,656$877$447$223$88
50 years$2,880$1,581$824$414$202$78

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 $5,578 every year, while hoping to spend $35,602 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: 48/37/15 Blend
63$2,950,000$2,950,000$2,950,000$2,950,000
64$3,256,654$3,100,304$3,054,579$3,399,082
65$3,550,952$3,214,338$3,119,027$3,612,152
66$3,874,076$3,332,767$3,184,441$3,839,264
67$4,228,927$3,455,769$3,250,815$4,085,085
68$4,618,704$3,583,528$3,318,144$4,351,377
69$5,046,928$3,716,237$3,386,418$4,640,078
70$5,517,481$3,854,098$3,455,629$4,953,317
71$6,034,636$3,997,321$3,525,765$5,293,434
72$6,603,104$4,146,125$3,596,813$5,663,003
73$7,228,073$4,300,738$3,668,759$6,064,857
74$7,915,260$4,461,397$3,741,585$6,502,108
75$8,670,962$4,628,352$3,815,274$6,978,182
76$9,502,119$4,801,860$3,889,805$7,496,846
77$10,416,376$4,982,191$3,965,153$8,062,245
78$11,422,155$5,169,628$4,041,295$8,678,941
79$12,528,738$5,364,463$4,118,202$9,351,952
80$13,746,351$5,567,003$4,195,843$10,086,801
81$15,086,260$5,777,567$4,274,185$10,889,568
82$16,560,880$5,996,490$4,353,192$11,766,942
83$18,183,890$6,224,117$4,432,824$12,726,289
84$19,970,361$6,460,814$4,513,038$13,775,716
85$21,936,901$6,706,957$4,593,788$14,924,146
86$24,101,810$6,962,943$4,675,025$16,181,406
87$26,485,251$7,229,183$4,756,694$17,558,312
88$29,109,442$7,506,109$4,838,739$19,066,777
89$31,998,865$7,794,168$4,921,097$20,719,914
90$35,180,498$8,093,831$5,003,702$22,532,165
91$38,684,066$8,405,586$5,086,484$24,519,435
92$42,542,326$8,729,945$5,169,366$26,699,235
93$46,791,372$9,067,441$5,252,269$29,090,853
94$51,470,976$9,418,630$5,335,104$31,715,530
95$56,624,968$9,784,095$5,417,782$34,596,662
96$62,301,641$10,164,442$5,500,204$37,760,014
97$68,554,213$10,560,304$5,582,266$41,233,968
98$75,441,329$10,972,346$5,663,858$45,049,783
99$83,027,610$11,401,256$5,744,863$49,241,893
100$91,384,267$11,847,758$5,825,156$53,848,226