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%14.6%
1 years$245,260$243,075$240,944$238,863$236,832$232,335
2 years$121,416$119,154$116,963$114,838$112,777$108,264
3 years$80,140$77,869$75,683$73,578$71,550$67,162
4 years$59,506$57,242$55,078$53,009$51,030$46,801
5 years$47,129$44,878$42,743$40,716$38,792$34,733
6 years$38,880$36,646$34,542$32,561$30,695$26,811
7 years$32,990$30,776$28,705$26,770$24,963$21,255
8 years$28,575$26,380$24,344$22,457$20,710$17,176
9 years$25,143$22,969$20,967$19,128$17,440$14,079
10 years$22,399$20,246$18,280$16,489$14,860$11,669
11 years$20,155$18,024$16,093$14,350$12,780$9,755
12 years$18,286$16,177$14,282$12,587$11,075$8,211
13 years$16,707$14,619$12,760$11,112$9,658$6,951
14 years$15,354$13,289$11,465$9,864$8,466$5,911
15 years$14,182$12,139$10,352$8,797$7,454$5,046
16 years$13,158$11,138$9,385$7,877$6,588$4,321
17 years$12,256$10,257$8,540$7,077$5,841$3,710
18 years$11,454$9,478$7,796$6,378$5,194$3,193
19 years$10,738$8,784$7,137$5,763$4,629$2,753
20 years$10,094$8,163$6,550$5,220$4,135$2,378
21 years$9,512$7,603$6,025$4,737$3,700$2,057
22 years$8,984$7,098$5,553$4,307$3,317$1,781
23 years$8,503$6,638$5,127$3,923$2,977$1,544
24 years$8,062$6,220$4,742$3,578$2,676$1,339
25 years$7,657$5,837$4,392$3,267$2,408$1,163
26 years$7,284$5,486$4,073$2,987$2,169$1,010
27 years$6,939$5,163$3,782$2,735$1,956$878
28 years$6,619$4,865$3,516$2,505$1,765$764
29 years$6,322$4,589$3,272$2,298$1,593$665
30 years$6,046$4,334$3,048$2,109$1,440$578
31 years$5,787$4,097$2,841$1,937$1,302$504
32 years$5,545$3,877$2,651$1,780$1,177$439
33 years$5,319$3,671$2,475$1,637$1,066$382
34 years$5,106$3,480$2,313$1,506$965$333
35 years$4,906$3,300$2,162$1,386$874$290
36 years$4,717$3,132$2,023$1,277$792$253
37 years$4,539$2,975$1,893$1,176$718$221
38 years$4,371$2,827$1,773$1,084$651$192
39 years$4,211$2,689$1,661$1,000$590$168
40 years$4,060$2,558$1,557$922$535$146
41 years$3,917$2,435$1,460$851$485$128
42 years$3,781$2,319$1,369$785$441$111
43 years$3,652$2,210$1,285$725$400$97
44 years$3,529$2,106$1,206$669$363$85
45 years$3,411$2,008$1,133$618$329$74
46 years$3,300$1,916$1,064$571$299$64
47 years$3,193$1,828$999$527$272$56
48 years$3,091$1,745$939$487$247$49
49 years$2,993$1,667$883$450$224$43
50 years$2,900$1,592$830$416$203$37

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 $3,596 every year, while hoping to spend $45,151 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: 78/9/13 Blend
63$2,970,000$2,970,000$2,970,000$2,970,000
64$3,276,649$3,119,239$3,073,204$3,523,537
65$3,562,827$3,224,042$3,128,116$3,791,367
66$3,876,682$3,332,466$3,183,355$4,078,935
67$4,220,989$3,444,642$3,238,882$4,393,077
68$4,598,805$3,560,705$3,294,660$4,736,426
69$5,013,498$3,680,794$3,350,646$5,111,886
70$5,468,776$3,805,055$3,406,794$5,522,651
71$5,968,726$3,933,637$3,463,056$5,972,242
72$6,517,847$4,066,696$3,519,380$6,464,536
73$7,121,099$4,204,396$3,575,710$7,003,801
74$7,783,943$4,346,903$3,631,989$7,594,742
75$8,512,397$4,494,393$3,688,152$8,242,539
76$9,313,089$4,647,046$3,744,133$8,952,898
77$10,193,323$4,805,051$3,799,861$9,732,104
78$11,161,146$4,968,602$3,855,260$10,587,084
79$12,225,422$5,137,903$3,910,250$11,525,465
80$13,395,918$5,313,163$3,964,746$12,555,651
81$14,683,395$5,494,601$4,018,659$13,686,901
82$16,099,709$5,682,444$4,071,892$14,929,414
83$17,657,924$5,876,928$4,124,344$16,294,427
84$19,372,431$6,078,297$4,175,909$17,794,322
85$21,259,090$6,286,805$4,226,473$19,442,739
86$23,335,375$6,502,716$4,275,918$21,254,706
87$25,620,539$6,726,304$4,324,116$23,246,782
88$28,135,795$6,957,854$4,370,935$25,437,211
89$30,904,519$7,197,662$4,416,234$27,846,095
90$33,952,467$7,446,035$4,459,865$30,495,581
91$37,308,020$7,703,292$4,501,673$33,410,076
92$41,002,451$7,969,766$4,541,491$36,616,467
93$45,070,217$8,245,800$4,579,147$40,144,384
94$49,549,289$8,531,754$4,614,458$44,026,475
95$54,481,506$8,828,000$4,647,233$48,298,713
96$59,912,973$9,134,925$4,677,268$53,000,735
97$65,894,491$9,452,932$4,704,351$58,176,220
98$72,482,042$9,782,438$4,728,260$63,873,297
99$79,737,311$10,123,879$4,748,758$70,144,998
100$87,728,275$10,477,707$4,765,599$77,049,762