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%11.5%
1 years$244,434$242,257$240,132$238,059$236,035$234,547
2 years$121,007$118,753$116,569$114,451$112,397$110,897
3 years$79,870$77,607$75,428$73,330$71,310$69,843
4 years$59,306$57,049$54,892$52,830$50,859$49,436
5 years$46,970$44,727$42,599$40,579$38,662$37,289
6 years$38,749$36,523$34,426$32,451$30,592$29,269
7 years$32,879$30,672$28,608$26,680$24,879$23,608
8 years$28,479$26,292$24,262$22,381$20,640$19,420
9 years$25,058$22,892$20,897$19,064$17,382$16,213
10 years$22,323$20,178$18,218$16,433$14,810$13,692
11 years$20,087$17,963$16,039$14,302$12,737$11,669
12 years$18,225$16,123$14,234$12,545$11,038$10,018
13 years$16,650$14,570$12,717$11,075$9,625$8,654
14 years$15,302$13,244$11,427$9,831$8,437$7,513
15 years$14,135$12,099$10,317$8,768$7,429$6,550
16 years$13,114$11,100$9,354$7,850$6,566$5,731
17 years$12,214$10,223$8,511$7,054$5,822$5,029
18 years$11,416$9,446$7,770$6,357$5,176$4,425
19 years$10,702$8,755$7,113$5,744$4,614$3,903
20 years$10,060$8,135$6,528$5,202$4,121$3,449
21 years$9,480$7,578$6,004$4,721$3,688$3,053
22 years$8,954$7,074$5,534$4,293$3,306$2,707
23 years$8,474$6,616$5,110$3,909$2,967$2,402
24 years$8,035$6,199$4,726$3,566$2,667$2,135
25 years$7,631$5,817$4,377$3,256$2,400$1,899
26 years$7,260$5,467$4,059$2,977$2,162$1,691
27 years$6,916$5,145$3,769$2,725$1,949$1,507
28 years$6,597$4,848$3,504$2,497$1,759$1,344
29 years$6,301$4,574$3,261$2,290$1,588$1,199
30 years$6,025$4,319$3,037$2,101$1,435$1,070
31 years$5,768$4,083$2,832$1,930$1,297$956
32 years$5,527$3,864$2,642$1,774$1,173$854
33 years$5,301$3,659$2,467$1,631$1,062$764
34 years$5,089$3,468$2,305$1,501$962$683
35 years$4,889$3,289$2,155$1,382$871$611
36 years$4,701$3,122$2,016$1,272$789$547
37 years$4,524$2,965$1,887$1,172$715$489
38 years$4,356$2,818$1,767$1,081$648$438
39 years$4,197$2,680$1,655$996$588$392
40 years$4,047$2,549$1,552$919$533$351
41 years$3,904$2,427$1,455$848$484$315
42 years$3,769$2,311$1,365$782$439$282
43 years$3,640$2,202$1,281$722$398$252
44 years$3,517$2,099$1,202$667$362$226
45 years$3,400$2,002$1,129$616$328$203
46 years$3,288$1,909$1,060$569$298$182
47 years$3,182$1,822$996$526$271$163
48 years$3,080$1,740$936$486$246$146
49 years$2,983$1,661$880$449$223$131
50 years$2,890$1,587$827$415$203$117

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 $6,899 every year, while hoping to spend $58,835 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: 47/26/27 Blend
63$2,960,000$2,960,000$2,960,000$2,960,000
64$3,269,036$3,112,156$3,066,276$3,397,107
65$3,539,878$3,202,052$3,106,397$3,577,961
66$3,836,374$3,294,381$3,145,889$3,767,868
67$4,161,078$3,389,199$3,184,670$3,972,869
68$4,516,804$3,486,566$3,222,653$4,194,415
69$4,906,650$3,586,540$3,259,744$4,434,099
70$5,334,028$3,689,180$3,295,844$4,693,679
71$5,802,695$3,794,546$3,330,852$4,975,088
72$6,316,792$3,902,701$3,364,657$5,280,456
73$6,880,876$4,013,705$3,397,145$5,612,129
74$7,499,970$4,127,621$3,428,194$5,972,692
75$8,179,604$4,244,512$3,457,676$6,364,991
76$8,925,873$4,364,441$3,485,457$6,792,163
77$9,745,487$4,487,474$3,511,394$7,257,661
78$10,645,841$4,613,674$3,535,340$7,765,292
79$11,635,079$4,743,108$3,557,137$8,319,247
80$12,722,176$4,875,839$3,576,620$8,924,148
81$13,917,017$5,011,934$3,593,616$9,585,084
82$15,230,493$5,151,459$3,607,942$10,307,664
83$16,674,603$5,294,479$3,619,407$11,098,066
84$18,262,565$5,441,062$3,627,811$11,963,099
85$20,008,945$5,591,272$3,632,941$12,910,267
86$21,929,789$5,745,177$3,634,576$13,947,837
87$24,042,778$5,902,840$3,632,484$15,084,919
88$26,367,389$6,064,327$3,626,421$16,331,552
89$28,925,087$6,229,703$3,616,130$17,698,800
90$31,739,519$6,399,032$3,601,343$19,198,853
91$34,836,742$6,572,376$3,581,780$20,845,146
92$38,245,464$6,749,798$3,557,144$22,652,483
93$41,997,321$6,931,357$3,527,128$24,637,180
94$46,127,168$7,117,114$3,491,407$26,817,216
95$50,673,412$7,307,125$3,449,642$29,212,405
96$55,678,373$7,501,447$3,401,478$31,844,582
97$61,188,682$7,700,134$3,346,543$34,737,812
98$67,255,723$7,903,236$3,284,448$37,918,613
99$73,936,115$8,110,803$3,214,785$41,416,211
100$81,292,247$8,322,880$3,137,128$45,262,812