Can I retire at age 64 with 6,800,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $6,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$561,538$556,536$551,656$546,893$542,242$532,820
2 years$277,989$272,812$267,794$262,929$258,210$248,749
3 years$183,485$178,285$173,280$168,461$163,819$154,613
4 years$136,242$131,059$126,104$121,367$116,837$107,956
5 years$107,904$102,752$97,862$93,221$88,818$80,288
6 years$89,018$83,904$79,087$74,550$70,279$62,109
7 years$75,534$70,463$65,722$61,292$57,155$49,349
8 years$65,425$60,400$55,737$51,416$47,416$39,971
9 years$57,566$52,589$48,006$43,795$39,931$32,844
10 years$51,283$46,354$41,853$37,752$34,023$27,287
11 years$46,146$41,267$36,847$32,855$29,261$22,868
12 years$41,868$37,039$32,701$28,819$25,357$19,300
13 years$38,251$33,472$29,216$25,442$22,112$16,380
14 years$35,153$30,425$26,250$22,585$19,383$13,967
15 years$32,471$27,794$23,701$20,142$17,066$11,956
16 years$30,127$25,500$21,488$18,035$15,083$10,268
17 years$28,060$23,485$19,553$16,204$13,374$8,842
18 years$26,225$21,701$17,850$14,603$11,891$7,632
19 years$24,585$20,112$16,341$13,195$10,599$6,600
20 years$23,111$18,689$14,997$11,951$9,467$5,717
21 years$21,779$17,408$13,794$10,846$8,472$4,960
22 years$20,570$16,250$12,713$9,862$7,594$4,308
23 years$19,467$15,198$11,738$8,981$6,817$3,746
24 years$18,458$14,240$10,856$8,191$6,127$3,260
25 years$17,531$13,364$10,055$7,481$5,514$2,839
26 years$16,677$12,560$9,325$6,840$4,966$2,475
27 years$15,888$11,820$8,659$6,261$4,478$2,158
28 years$15,156$11,138$8,050$5,736$4,040$1,883
29 years$14,476$10,507$7,491$5,260$3,648$1,644
30 years$13,842$9,923$6,978$4,828$3,296$1,436
31 years$13,250$9,381$6,505$4,434$2,980$1,254
32 years$12,697$8,876$6,070$4,075$2,696$1,096
33 years$12,178$8,406$5,667$3,747$2,440$958
34 years$11,690$7,967$5,295$3,448$2,209$838
35 years$11,232$7,556$4,950$3,174$2,001$732
36 years$10,800$7,172$4,631$2,923$1,813$641
37 years$10,392$6,812$4,335$2,693$1,643$560
38 years$10,007$6,474$4,059$2,482$1,489$490
39 years$9,642$6,156$3,803$2,289$1,351$429
40 years$9,297$5,857$3,565$2,111$1,225$375
41 years$8,969$5,575$3,342$1,948$1,111$328
42 years$8,657$5,309$3,135$1,798$1,009$287
43 years$8,361$5,059$2,942$1,659$915$252
44 years$8,079$4,822$2,762$1,532$831$220
45 years$7,811$4,598$2,593$1,415$754$193
46 years$7,555$4,387$2,435$1,307$685$169
47 years$7,310$4,186$2,288$1,208$622$148
48 years$7,076$3,996$2,150$1,116$565$129
49 years$6,853$3,816$2,021$1,031$513$113
50 years$6,639$3,645$1,900$953$466$99

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $6,800,000, adding $2,819 every year, while hoping to spend $29,424 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: 61/18/21 Blend
63$6,800,000$6,800,000$6,800,000$6,800,000
64$7,496,508$7,136,108$7,030,708$7,912,425
65$8,229,845$7,454,470$7,234,930$8,512,496
66$9,036,996$7,787,446$7,445,007$9,163,623
67$9,925,459$8,135,721$7,661,104$9,873,607
68$10,903,496$8,500,011$7,883,391$10,648,175
69$11,980,211$8,881,070$8,112,043$11,493,625
70$13,165,634$9,279,684$8,347,238$12,416,890
71$14,470,819$9,696,679$8,589,161$13,425,594
72$15,907,945$10,132,918$8,838,000$14,528,128
73$17,490,432$10,589,308$9,093,950$15,733,729
74$19,233,069$11,066,797$9,357,210$17,052,560
75$21,152,152$11,566,380$9,627,986$18,495,806
76$23,265,636$12,089,097$9,906,488$20,075,782
77$25,593,308$12,636,040$10,192,933$21,806,040
78$28,156,972$13,208,353$10,487,543$23,701,503
79$30,980,654$13,807,233$10,790,547$25,778,597
80$34,090,829$14,433,936$11,102,179$28,055,406
81$37,516,672$15,089,777$11,422,680$30,551,845
82$41,290,331$15,776,134$11,752,298$33,289,837
83$45,447,232$16,494,452$12,091,287$36,293,525
84$50,026,414$17,246,245$12,439,909$39,589,494
85$55,070,894$18,033,097$12,798,433$43,207,019
86$60,628,078$18,856,671$13,167,133$47,178,340
87$66,750,203$19,718,709$13,546,293$51,538,964
88$73,494,834$20,621,036$13,936,204$56,327,994
89$80,925,405$21,565,565$14,337,164$61,588,497
90$89,111,818$22,554,299$14,749,481$67,367,910
91$98,131,103$23,589,340$15,173,469$73,718,478
92$108,068,147$24,672,889$15,609,451$80,697,749
93$119,016,491$25,807,254$16,057,761$88,369,113
94$131,079,217$26,994,852$16,518,739$96,802,392
95$144,369,916$28,238,219$16,992,736$106,074,501
96$159,013,765$29,540,010$17,480,111$116,270,167
97$175,148,709$30,903,009$17,981,234$127,482,722
98$192,926,755$32,330,136$18,496,484$139,814,986
99$212,515,419$33,824,446$19,026,250$153,380,225
100$234,099,295$35,389,148$19,570,933$168,303,222