Can I retire at age 64 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$245,260$243,075$240,944$238,863$236,832$232,621
2 years$121,416$119,154$116,963$114,838$112,777$108,549
3 years$80,140$77,869$75,683$73,578$71,550$67,437
4 years$59,506$57,242$55,078$53,009$51,030$47,063
5 years$47,129$44,878$42,743$40,716$38,792$34,983
6 years$38,880$36,646$34,542$32,561$30,695$27,048
7 years$32,990$30,776$28,705$26,770$24,963$21,479
8 years$28,575$26,380$24,344$22,457$20,710$17,387
9 years$25,143$22,969$20,967$19,128$17,440$14,278
10 years$22,399$20,246$18,280$16,489$14,860$11,855
11 years$20,155$18,024$16,093$14,350$12,780$9,929
12 years$18,286$16,177$14,282$12,587$11,075$8,374
13 years$16,707$14,619$12,760$11,112$9,658$7,103
14 years$15,354$13,289$11,465$9,864$8,466$6,053
15 years$14,182$12,139$10,352$8,797$7,454$5,177
16 years$13,158$11,138$9,385$7,877$6,588$4,443
17 years$12,256$10,257$8,540$7,077$5,841$3,823
18 years$11,454$9,478$7,796$6,378$5,194$3,298
19 years$10,738$8,784$7,137$5,763$4,629$2,850
20 years$10,094$8,163$6,550$5,220$4,135$2,467
21 years$9,512$7,603$6,025$4,737$3,700$2,138
22 years$8,984$7,098$5,553$4,307$3,317$1,856
23 years$8,503$6,638$5,127$3,923$2,977$1,612
24 years$8,062$6,220$4,742$3,578$2,676$1,402
25 years$7,657$5,837$4,392$3,267$2,408$1,220
26 years$7,284$5,486$4,073$2,987$2,169$1,063
27 years$6,939$5,163$3,782$2,735$1,956$926
28 years$6,619$4,865$3,516$2,505$1,765$807
29 years$6,322$4,589$3,272$2,298$1,593$704
30 years$6,046$4,334$3,048$2,109$1,440$615
31 years$5,787$4,097$2,841$1,937$1,302$536
32 years$5,545$3,877$2,651$1,780$1,177$468
33 years$5,319$3,671$2,475$1,637$1,066$409
34 years$5,106$3,480$2,313$1,506$965$357
35 years$4,906$3,300$2,162$1,386$874$312
36 years$4,717$3,132$2,023$1,277$792$273
37 years$4,539$2,975$1,893$1,176$718$238
38 years$4,371$2,827$1,773$1,084$651$208
39 years$4,211$2,689$1,661$1,000$590$182
40 years$4,060$2,558$1,557$922$535$159
41 years$3,917$2,435$1,460$851$485$139
42 years$3,781$2,319$1,369$785$441$122
43 years$3,652$2,210$1,285$725$400$107
44 years$3,529$2,106$1,206$669$363$93
45 years$3,411$2,008$1,133$618$329$81
46 years$3,300$1,916$1,064$571$299$71
47 years$3,193$1,828$999$527$272$62
48 years$3,091$1,745$939$487$247$55
49 years$2,993$1,667$883$450$224$48
50 years$2,900$1,592$830$416$203$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,970,000, adding $4,079 every year, while hoping to spend $44,403 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: 49/45/6 Blend
63$2,970,000$2,970,000$2,970,000$2,970,000
64$3,277,147$3,119,737$3,073,702$3,432,555
65$3,564,172$3,225,360$3,129,427$3,644,667
66$3,878,985$3,334,670$3,185,530$3,869,848
67$4,224,374$3,447,801$3,241,978$4,113,369
68$4,603,409$3,564,892$3,298,733$4,376,950
69$5,019,472$3,686,088$3,355,756$4,662,483
70$5,476,289$3,811,537$3,413,005$4,972,047
71$5,977,963$3,941,395$3,470,433$5,307,931
72$6,529,016$4,075,824$3,527,993$5,672,647
73$7,134,427$4,214,990$3,585,632$6,068,962
74$7,799,682$4,359,069$3,643,295$6,499,916
75$8,530,827$4,508,240$3,700,922$6,968,855
76$9,334,518$4,662,691$3,758,450$7,479,458
77$10,218,093$4,822,617$3,815,812$8,035,776
78$11,189,634$4,988,220$3,872,937$8,642,264
79$12,258,044$5,159,711$3,929,748$9,303,824
80$13,433,135$5,337,307$3,986,165$10,025,852
81$14,725,715$5,521,235$4,042,102$10,814,287
82$16,147,694$5,711,732$4,097,468$11,675,665
83$17,712,194$5,909,042$4,152,169$12,617,183
84$19,433,672$6,113,419$4,206,100$13,646,759
85$21,328,057$6,325,128$4,259,156$14,773,115
86$23,412,903$6,544,443$4,311,222$16,005,852
87$25,707,549$6,771,650$4,362,177$17,355,539
88$28,233,304$7,007,046$4,411,895$18,833,816
89$31,013,650$7,250,940$4,460,242$20,453,500
90$34,074,457$7,503,652$4,507,076$22,228,703
91$37,444,236$7,765,515$4,552,247$24,174,969
92$41,154,399$8,036,876$4,595,598$26,309,414
93$45,239,561$8,318,095$4,636,963$28,650,889
94$49,737,862$8,609,548$4,676,168$31,220,156
95$54,691,332$8,911,624$4,713,028$34,040,082
96$60,146,283$9,224,728$4,747,349$37,135,855
97$66,153,746$9,549,282$4,778,927$40,535,217
98$72,769,955$9,885,725$4,807,548$44,268,727
99$80,056,876$10,234,511$4,832,987$48,370,047
100$88,082,792$10,596,116$4,855,006$52,876,259