Can I retire at age 64 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$247,737$245,530$243,378$241,276$239,224$234,203
2 years$122,642$120,358$118,144$115,998$113,916$108,881
3 years$80,949$78,655$76,447$74,321$72,273$67,381
4 years$60,107$57,820$55,634$53,544$51,546$46,834
5 years$47,605$45,332$43,174$41,127$39,184$34,667
6 years$39,273$37,017$34,891$32,890$31,005$26,687
7 years$33,324$31,087$28,995$27,040$25,216$21,097
8 years$28,864$26,647$24,590$22,684$20,919$16,999
9 years$25,397$23,201$21,179$19,321$17,617$13,893
10 years$22,625$20,450$18,465$16,655$15,010$11,479
11 years$20,359$18,206$16,256$14,495$12,909$9,566
12 years$18,471$16,341$14,427$12,714$11,187$8,026
13 years$16,875$14,767$12,889$11,225$9,755$6,771
14 years$15,509$13,423$11,581$9,964$8,551$5,739
15 years$14,326$12,262$10,456$8,886$7,529$4,882
16 years$13,291$11,250$9,480$7,957$6,654$4,166
17 years$12,379$10,361$8,626$7,149$5,900$3,564
18 years$11,570$9,574$7,875$6,443$5,246$3,056
19 years$10,846$8,873$7,209$5,821$4,676$2,626
20 years$10,196$8,245$6,616$5,272$4,177$2,259
21 years$9,608$7,680$6,086$4,785$3,738$1,947
22 years$9,075$7,169$5,609$4,351$3,350$1,679
23 years$8,589$6,705$5,179$3,962$3,007$1,450
24 years$8,143$6,282$4,789$3,614$2,703$1,253
25 years$7,734$5,896$4,436$3,300$2,432$1,083
26 years$7,358$5,541$4,114$3,018$2,191$938
27 years$7,009$5,215$3,820$2,762$1,975$812
28 years$6,686$4,914$3,551$2,531$1,782$703
29 years$6,386$4,636$3,305$2,321$1,610$609
30 years$6,107$4,378$3,078$2,130$1,454$528
31 years$5,846$4,139$2,870$1,956$1,315$458
32 years$5,601$3,916$2,678$1,798$1,189$397
33 years$5,373$3,708$2,500$1,653$1,076$345
34 years$5,158$3,515$2,336$1,521$975$299
35 years$4,955$3,334$2,184$1,400$883$259
36 years$4,765$3,164$2,043$1,290$800$225
37 years$4,585$3,005$1,912$1,188$725$196
38 years$4,415$2,856$1,791$1,095$657$170
39 years$4,254$2,716$1,678$1,010$596$147
40 years$4,101$2,584$1,573$931$541$128
41 years$3,957$2,460$1,475$859$490$111
42 years$3,819$2,342$1,383$793$445$97
43 years$3,689$2,232$1,298$732$404$84
44 years$3,564$2,127$1,218$676$367$73
45 years$3,446$2,029$1,144$624$333$63
46 years$3,333$1,935$1,074$577$302$55
47 years$3,225$1,847$1,009$533$274$48
48 years$3,122$1,763$949$492$249$41
49 years$3,023$1,684$892$455$226$36
50 years$2,929$1,608$838$421$206$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $3,000,000, adding $2,393 every year, while hoping to spend $27,820 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: 54/27/19 Blend
63$3,000,000$3,000,000$3,000,000$3,000,000
64$3,308,468$3,149,468$3,102,968$3,469,957
65$3,616,332$3,274,192$3,177,318$3,705,481
66$3,954,665$3,404,095$3,253,225$3,958,583
67$4,326,546$3,539,401$3,330,714$4,233,493
68$4,735,368$3,680,345$3,409,806$4,532,299
69$5,184,865$3,827,172$3,490,525$4,857,299
70$5,679,156$3,980,138$3,572,892$5,211,019
71$6,222,776$4,139,511$3,656,929$5,596,239
72$6,820,722$4,305,569$3,742,659$6,016,015
73$7,478,499$4,478,607$3,830,103$6,473,712
74$8,202,176$4,658,927$3,919,280$6,973,030
75$8,998,434$4,846,851$4,010,213$7,518,041
76$9,874,640$5,042,712$4,102,920$8,113,227
77$10,838,906$5,246,859$4,197,421$8,763,518
78$11,900,176$5,459,656$4,293,736$9,474,342
79$13,068,299$5,681,484$4,391,881$10,251,674
80$14,354,132$5,912,743$4,491,875$11,102,090
81$15,769,634$6,153,849$4,593,735$12,032,828
82$17,327,987$6,405,237$4,697,474$13,051,858
83$19,043,711$6,667,364$4,803,110$14,167,955
84$20,932,811$6,940,705$4,910,655$15,390,778
85$23,012,917$7,225,760$5,020,121$16,730,965
86$25,303,461$7,523,048$5,131,521$18,200,227
87$27,825,851$7,833,115$5,244,865$19,811,462
88$30,603,681$8,156,530$5,360,161$21,578,872
89$33,662,947$8,493,890$5,477,416$23,518,097
90$37,032,294$8,845,818$5,596,637$25,646,362
91$40,743,291$9,212,966$5,717,827$27,982,638
92$44,830,721$9,596,016$5,840,989$30,547,818
93$49,332,915$9,995,681$5,966,122$33,364,913
94$54,292,111$10,412,708$6,093,226$36,459,270
95$59,754,852$10,847,876$6,222,295$39,858,807
96$65,772,429$11,302,004$6,353,324$43,594,275
97$72,401,360$11,775,946$6,486,303$47,699,549
98$79,703,927$12,270,595$6,621,222$52,211,941
99$87,748,760$12,786,888$6,758,067$57,172,555
100$96,611,491$13,325,802$6,896,818$62,626,671