Can I retire at age 64 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$244,434$242,257$240,132$238,059$236,035$229,491
2 years$121,007$118,753$116,569$114,451$112,397$105,854
3 years$79,870$77,607$75,428$73,330$71,310$64,971
4 years$59,306$57,049$54,892$52,830$50,859$44,773
5 years$46,970$44,727$42,599$40,579$38,662$32,847
6 years$38,749$36,523$34,426$32,451$30,592$25,052
7 years$32,879$30,672$28,608$26,680$24,879$19,615
8 years$28,479$26,292$24,262$22,381$20,640$15,649
9 years$25,058$22,892$20,897$19,064$17,382$12,659
10 years$22,323$20,178$18,218$16,433$14,810$10,349
11 years$20,087$17,963$16,039$14,302$12,737$8,531
12 years$18,225$16,123$14,234$12,545$11,038$7,079
13 years$16,650$14,570$12,717$11,075$9,625$5,905
14 years$15,302$13,244$11,427$9,831$8,437$4,947
15 years$14,135$12,099$10,317$8,768$7,429$4,158
16 years$13,114$11,100$9,354$7,850$6,566$3,506
17 years$12,214$10,223$8,511$7,054$5,822$2,963
18 years$11,416$9,446$7,770$6,357$5,176$2,509
19 years$10,702$8,755$7,113$5,744$4,614$2,128
20 years$10,060$8,135$6,528$5,202$4,121$1,808
21 years$9,480$7,578$6,004$4,721$3,688$1,537
22 years$8,954$7,074$5,534$4,293$3,306$1,309
23 years$8,474$6,616$5,110$3,909$2,967$1,115
24 years$8,035$6,199$4,726$3,566$2,667$951
25 years$7,631$5,817$4,377$3,256$2,400$811
26 years$7,260$5,467$4,059$2,977$2,162$692
27 years$6,916$5,145$3,769$2,725$1,949$591
28 years$6,597$4,848$3,504$2,497$1,759$505
29 years$6,301$4,574$3,261$2,290$1,588$432
30 years$6,025$4,319$3,037$2,101$1,435$369
31 years$5,768$4,083$2,832$1,930$1,297$315
32 years$5,527$3,864$2,642$1,774$1,173$270
33 years$5,301$3,659$2,467$1,631$1,062$231
34 years$5,089$3,468$2,305$1,501$962$197
35 years$4,889$3,289$2,155$1,382$871$169
36 years$4,701$3,122$2,016$1,272$789$144
37 years$4,524$2,965$1,887$1,172$715$124
38 years$4,356$2,818$1,767$1,081$648$106
39 years$4,197$2,680$1,655$996$588$91
40 years$4,047$2,549$1,552$919$533$77
41 years$3,904$2,427$1,455$848$484$66
42 years$3,769$2,311$1,365$782$439$57
43 years$3,640$2,202$1,281$722$398$49
44 years$3,517$2,099$1,202$667$362$42
45 years$3,400$2,002$1,129$616$328$36
46 years$3,288$1,909$1,060$569$298$30
47 years$3,182$1,822$996$526$271$26
48 years$3,080$1,740$936$486$246$22
49 years$2,983$1,661$880$449$223$19
50 years$2,890$1,587$827$415$203$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,960,000, adding $3,428 every year, while hoping to spend $52,737 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: 44/49/7 Blend
63$2,960,000$2,960,000$2,960,000$2,960,000
64$3,265,456$3,108,576$3,062,696$3,402,512
65$3,542,421$3,204,784$3,109,185$3,593,871
66$3,845,868$3,303,940$3,155,463$3,795,448
67$4,178,444$3,406,130$3,201,468$4,012,692
68$4,543,063$3,511,447$3,247,135$4,247,060
69$4,942,932$3,619,985$3,292,391$4,500,151
70$5,381,587$3,731,841$3,337,162$4,773,722
71$5,862,921$3,847,113$3,381,369$5,069,708
72$6,391,222$3,965,905$3,424,928$5,390,233
73$6,971,214$4,088,321$3,467,750$5,737,637
74$7,608,099$4,214,470$3,509,741$6,114,491
75$8,307,610$4,344,464$3,550,802$6,523,626
76$9,076,062$4,478,418$3,590,829$6,968,153
77$9,920,409$4,616,449$3,629,710$7,451,499
78$10,848,314$4,758,679$3,667,330$7,977,435
79$11,868,222$4,905,234$3,703,565$8,550,107
80$12,989,431$5,056,241$3,738,284$9,174,084
81$14,222,189$5,211,832$3,771,353$9,854,392
82$15,577,784$5,372,145$3,802,626$10,596,565
83$17,068,657$5,537,318$3,831,952$11,406,695
84$18,708,509$5,707,496$3,859,172$12,291,489
85$20,512,440$5,882,826$3,884,117$13,258,332
86$22,497,085$6,063,461$3,906,611$14,315,356
87$24,680,774$6,249,557$3,926,469$15,471,517
88$27,083,702$6,441,274$3,943,495$16,736,674
89$29,728,122$6,638,779$3,957,484$18,121,689
90$32,638,552$6,842,240$3,968,221$19,638,521
91$35,842,007$7,051,834$3,975,480$21,300,344
92$39,368,257$7,267,738$3,979,024$23,121,668
93$43,250,100$7,490,139$3,978,602$25,118,472
94$47,523,680$7,719,225$3,973,954$27,308,362
95$52,228,819$7,955,191$3,964,806$29,710,726
96$57,409,401$8,198,238$3,950,870$32,346,927
97$63,113,780$8,448,571$3,931,843$35,240,493
98$69,395,237$8,706,402$3,907,411$38,417,345
99$76,312,483$8,971,949$3,877,242$41,906,041
100$83,930,216$9,245,433$3,840,989$45,738,039