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%19.7%
1 years$246,911$244,712$242,566$240,472$238,427$229,148
2 years$122,233$119,957$117,751$115,611$113,537$104,300
3 years$80,679$78,393$76,192$74,073$72,032$63,129
4 years$59,907$57,627$55,449$53,366$51,374$42,872
5 years$47,446$45,180$43,030$40,990$39,054$30,975
6 years$39,142$36,893$34,775$32,780$30,902$23,251
7 years$33,213$30,983$28,898$26,950$25,131$17,907
8 years$28,768$26,558$24,508$22,608$20,849$14,043
9 years$25,312$23,124$21,109$19,257$17,558$11,160
10 years$22,550$20,382$18,403$16,600$14,960$8,959
11 years$20,291$18,145$16,202$14,447$12,866$7,248
12 years$18,410$16,286$14,379$12,672$11,150$5,899
13 years$16,819$14,718$12,846$11,187$9,723$4,825
14 years$15,457$13,378$11,542$9,931$8,523$3,961
15 years$14,278$12,221$10,421$8,856$7,504$3,262
16 years$13,247$11,213$9,448$7,930$6,632$2,693
17 years$12,338$10,326$8,598$7,125$5,881$2,228
18 years$11,531$9,542$7,849$6,421$5,229$1,846
19 years$10,810$8,844$7,185$5,802$4,660$1,532
20 years$10,162$8,218$6,594$5,255$4,163$1,273
21 years$9,576$7,655$6,065$4,769$3,725$1,058
22 years$9,045$7,145$5,590$4,336$3,339$881
23 years$8,560$6,683$5,161$3,949$2,997$734
24 years$8,116$6,261$4,773$3,602$2,694$611
25 years$7,709$5,876$4,421$3,289$2,424$509
26 years$7,333$5,523$4,100$3,008$2,184$425
27 years$6,986$5,197$3,808$2,753$1,969$354
28 years$6,664$4,897$3,540$2,522$1,777$296
29 years$6,365$4,620$3,294$2,313$1,604$247
30 years$6,086$4,363$3,068$2,123$1,449$206
31 years$5,826$4,125$2,860$1,950$1,310$172
32 years$5,583$3,903$2,669$1,792$1,185$144
33 years$5,355$3,696$2,492$1,648$1,073$120
34 years$5,140$3,503$2,328$1,516$971$100
35 years$4,939$3,323$2,177$1,396$880$84
36 years$4,749$3,154$2,036$1,285$797$70
37 years$4,570$2,995$1,906$1,184$722$58
38 years$4,400$2,846$1,785$1,091$655$49
39 years$4,240$2,707$1,672$1,006$594$41
40 years$4,088$2,575$1,567$928$539$34
41 years$3,944$2,451$1,470$856$489$28
42 years$3,807$2,335$1,379$790$443$24
43 years$3,676$2,224$1,294$730$402$20
44 years$3,553$2,120$1,214$674$365$17
45 years$3,434$2,022$1,140$622$332$14
46 years$3,322$1,929$1,071$575$301$12
47 years$3,214$1,841$1,006$531$273$10
48 years$3,112$1,757$945$491$248$8
49 years$3,013$1,678$889$453$226$7
50 years$2,919$1,603$835$419$205$6

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 $6,462 every year, while hoping to spend $20,358 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: 71/6/23 Blend
63$2,990,000$2,990,000$2,990,000$2,990,000
64$3,301,646$3,143,176$3,096,831$3,516,683
65$3,616,753$3,275,530$3,178,914$3,793,424
66$3,963,318$3,413,688$3,263,064$4,093,340
67$4,344,530$3,557,912$3,349,330$4,421,249
68$4,763,899$3,708,477$3,437,760$4,779,929
69$5,225,295$3,865,671$3,528,403$5,172,437
70$5,732,981$4,029,794$3,621,310$5,602,139
71$6,291,654$4,201,163$3,716,533$6,072,743
72$6,906,490$4,380,108$3,814,124$6,588,332
73$7,583,192$4,566,972$3,914,137$7,153,402
74$8,328,042$4,762,119$4,016,626$7,772,905
75$9,147,966$4,965,926$4,121,646$8,452,296
76$10,050,591$5,178,789$4,229,253$9,197,582
77$11,044,324$5,401,123$4,339,506$10,015,380
78$12,138,428$5,633,361$4,452,463$10,912,978
79$13,343,110$5,875,957$4,568,182$11,898,406
80$14,669,615$6,129,387$4,686,725$12,980,507
81$16,130,338$6,394,149$4,808,152$14,169,024
82$17,738,934$6,670,764$4,932,526$15,474,689
83$19,510,450$6,959,777$5,059,911$16,909,325
84$21,461,469$7,261,759$5,190,371$18,485,958
85$23,610,262$7,577,308$5,323,971$20,218,937
86$25,976,963$7,907,050$5,460,779$22,124,070
87$28,583,758$8,251,641$5,600,860$24,218,775
88$31,455,097$8,611,767$5,744,285$26,522,239
89$34,617,920$8,988,147$5,891,121$29,055,604
90$38,101,915$9,381,533$6,041,441$31,842,161
91$41,939,796$9,792,713$6,195,314$34,907,575
92$46,167,612$10,222,513$6,352,814$38,280,120
93$50,825,089$10,671,797$6,514,014$41,990,951
94$55,956,003$11,141,470$6,678,988$46,074,392
95$61,608,593$11,632,479$6,847,812$50,568,264
96$67,836,016$12,145,818$7,020,561$55,514,242
97$74,696,853$12,682,526$7,197,313$60,958,241
98$82,255,654$13,243,692$7,378,145$66,950,856
99$90,583,554$13,830,456$7,563,136$73,547,833
100$99,758,941$14,444,013$7,752,366$80,810,601