Can I retire at age 64 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$246,911$244,712$242,566$240,472$238,427$235,643
2 years$122,233$119,957$117,751$115,611$113,537$110,734
3 years$80,679$78,393$76,192$74,073$72,032$69,299
4 years$59,907$57,627$55,449$53,366$51,374$48,731
5 years$47,446$45,180$43,030$40,990$39,054$36,508
6 years$39,142$36,893$34,775$32,780$30,902$28,457
7 years$33,213$30,983$28,898$26,950$25,131$22,788
8 years$28,768$26,558$24,508$22,608$20,849$18,607
9 years$25,312$23,124$21,109$19,257$17,558$15,416
10 years$22,550$20,382$18,403$16,600$14,960$12,918
11 years$20,291$18,145$16,202$14,447$12,866$10,921
12 years$18,410$16,286$14,379$12,672$11,150$9,300
13 years$16,819$14,718$12,846$11,187$9,723$7,966
14 years$15,457$13,378$11,542$9,931$8,523$6,856
15 years$14,278$12,221$10,421$8,856$7,504$5,925
16 years$13,247$11,213$9,448$7,930$6,632$5,139
17 years$12,338$10,326$8,598$7,125$5,881$4,469
18 years$11,531$9,542$7,849$6,421$5,229$3,896
19 years$10,810$8,844$7,185$5,802$4,660$3,404
20 years$10,162$8,218$6,594$5,255$4,163$2,980
21 years$9,576$7,655$6,065$4,769$3,725$2,612
22 years$9,045$7,145$5,590$4,336$3,339$2,293
23 years$8,560$6,683$5,161$3,949$2,997$2,016
24 years$8,116$6,261$4,773$3,602$2,694$1,774
25 years$7,709$5,876$4,421$3,289$2,424$1,562
26 years$7,333$5,523$4,100$3,008$2,184$1,377
27 years$6,986$5,197$3,808$2,753$1,969$1,214
28 years$6,664$4,897$3,540$2,522$1,777$1,071
29 years$6,365$4,620$3,294$2,313$1,604$946
30 years$6,086$4,363$3,068$2,123$1,449$836
31 years$5,826$4,125$2,860$1,950$1,310$739
32 years$5,583$3,903$2,669$1,792$1,185$653
33 years$5,355$3,696$2,492$1,648$1,073$577
34 years$5,140$3,503$2,328$1,516$971$511
35 years$4,939$3,323$2,177$1,396$880$452
36 years$4,749$3,154$2,036$1,285$797$400
37 years$4,570$2,995$1,906$1,184$722$354
38 years$4,400$2,846$1,785$1,091$655$313
39 years$4,240$2,707$1,672$1,006$594$278
40 years$4,088$2,575$1,567$928$539$246
41 years$3,944$2,451$1,470$856$489$218
42 years$3,807$2,335$1,379$790$443$193
43 years$3,676$2,224$1,294$730$402$171
44 years$3,553$2,120$1,214$674$365$151
45 years$3,434$2,022$1,140$622$332$134
46 years$3,322$1,929$1,071$575$301$119
47 years$3,214$1,841$1,006$531$273$105
48 years$3,112$1,757$945$491$248$93
49 years$3,013$1,678$889$453$226$83
50 years$2,919$1,603$835$419$205$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,990,000, adding $2,838 every year, while hoping to spend $24,147 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: 60/23/17 Blend
63$2,990,000$2,990,000$2,990,000$2,990,000
64$3,297,907$3,139,437$3,093,092$3,481,240
65$3,608,602$3,267,578$3,171,019$3,733,516
66$3,950,178$3,401,187$3,250,746$4,005,673
67$4,325,759$3,540,509$3,332,310$4,302,018
68$4,738,789$3,685,797$3,415,745$4,624,893
69$5,193,060$3,837,315$3,501,087$4,976,877
70$5,692,751$3,995,342$3,588,371$5,360,807
71$6,242,464$4,160,167$3,677,635$5,779,802
72$6,847,274$4,332,093$3,768,914$6,237,296
73$7,512,769$4,511,438$3,862,245$6,737,068
74$8,245,107$4,698,534$3,957,666$7,283,277
75$9,051,073$4,893,728$4,055,214$7,880,499
76$9,938,145$5,097,383$4,154,925$8,533,771
77$10,914,559$5,309,879$4,256,839$9,248,640
78$11,989,394$5,531,612$4,360,993$10,031,209
79$13,172,650$5,762,999$4,467,424$10,888,199
80$14,475,349$6,004,475$4,576,172$11,827,009
81$15,909,635$6,256,495$4,687,274$12,855,785
82$17,488,889$6,519,534$4,800,769$13,983,495
83$19,227,856$6,794,091$4,916,694$15,220,017
84$21,142,782$7,080,687$5,035,089$16,576,225
85$23,251,573$7,379,868$5,155,991$18,064,097
86$25,573,955$7,692,203$5,279,439$19,696,820
87$28,131,668$8,018,290$5,405,469$21,488,919
88$30,948,666$8,358,755$5,534,121$23,456,391
89$34,051,347$8,714,250$5,665,431$25,616,853
90$37,468,797$9,085,462$5,799,436$27,989,711
91$41,233,071$9,473,105$5,936,172$30,596,336
92$45,379,487$9,877,930$6,075,677$33,460,271
93$49,946,968$10,300,722$6,217,986$36,607,445
94$54,978,403$10,742,302$6,363,133$40,066,423
95$60,521,056$11,203,531$6,511,154$43,868,667
96$66,627,007$11,685,307$6,662,080$48,048,838
97$73,353,648$12,188,574$6,815,947$52,645,115
98$80,764,224$12,714,317$6,972,784$57,699,560
99$88,928,426$13,263,570$7,132,624$63,258,507
100$97,923,053$13,837,413$7,295,495$69,373,003