Can I retire at age 64 with 7,100,000?

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$586,311$581,089$575,993$571,020$566,164$543,701
2 years$290,253$284,847$279,608$274,529$269,602$247,249
3 years$191,580$186,151$180,925$175,893$171,047$149,508
4 years$142,253$136,841$131,667$126,721$121,992$101,431
5 years$112,665$107,285$102,179$97,334$92,736$73,206
6 years$92,945$87,606$82,576$77,839$73,379$54,892
7 years$78,866$73,571$68,621$63,996$59,677$42,226
8 years$68,311$63,064$58,196$53,684$49,508$33,075
9 years$60,106$54,909$50,124$45,727$41,693$26,254
10 years$53,546$48,399$43,699$39,417$35,524$21,049
11 years$48,182$43,087$38,472$34,305$30,552$17,006
12 years$43,715$38,673$34,143$30,090$26,476$13,823
13 years$39,939$34,949$30,505$26,565$23,087$11,289
14 years$36,704$31,768$27,409$23,581$20,238$9,255
15 years$33,904$29,020$24,746$21,030$17,819$7,611
16 years$31,456$26,625$22,436$18,830$15,749$6,275
17 years$29,298$24,521$20,416$16,919$13,964$5,183
18 years$27,382$22,659$18,637$15,247$12,416$4,289
19 years$25,670$21,000$17,061$13,777$11,067$3,554
20 years$24,131$19,514$15,658$12,478$9,885$2,948
21 years$22,740$18,177$14,402$11,325$8,846$2,448
22 years$21,477$16,967$13,274$10,297$7,929$2,034
23 years$20,326$15,869$12,256$9,377$7,118$1,691
24 years$19,273$14,868$11,335$8,553$6,398$1,407
25 years$18,305$13,953$10,498$7,811$5,757$1,171
26 years$17,413$13,114$9,737$7,142$5,186$975
27 years$16,589$12,341$9,041$6,537$4,675$812
28 years$15,824$11,629$8,405$5,989$4,218$676
29 years$15,114$10,971$7,822$5,492$3,809$563
30 years$14,453$10,361$7,286$5,041$3,442$469
31 years$13,835$9,794$6,792$4,629$3,112$391
32 years$13,257$9,268$6,337$4,255$2,815$326
33 years$12,715$8,777$5,917$3,912$2,547$272
34 years$12,206$8,318$5,529$3,600$2,306$227
35 years$11,728$7,890$5,169$3,314$2,089$189
36 years$11,276$7,488$4,835$3,052$1,893$158
37 years$10,851$7,112$4,526$2,812$1,715$131
38 years$10,448$6,759$4,238$2,592$1,555$110
39 years$10,068$6,427$3,971$2,390$1,410$91
40 years$9,707$6,115$3,722$2,204$1,279$76
41 years$9,364$5,821$3,490$2,034$1,161$64
42 years$9,039$5,544$3,274$1,877$1,053$53
43 years$8,730$5,282$3,072$1,733$956$44
44 years$8,436$5,035$2,883$1,600$867$37
45 years$8,155$4,801$2,707$1,477$788$31
46 years$7,888$4,580$2,543$1,365$715$26
47 years$7,633$4,371$2,389$1,261$649$21
48 years$7,389$4,173$2,245$1,165$590$18
49 years$7,155$3,985$2,110$1,077$536$15
50 years$6,932$3,806$1,984$995$486$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $7,100,000, adding $2,006 every year, while hoping to spend $20,904 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: 56/30/14 Blend
63$7,100,000$7,100,000$7,100,000$7,100,000
64$7,826,269$7,449,969$7,339,919$8,236,107
65$8,602,307$7,792,776$7,563,565$8,857,116
66$9,456,800$8,151,680$7,794,002$9,530,783
67$10,397,729$8,527,447$8,031,436$10,264,113
68$11,433,886$8,920,881$8,276,079$11,062,815
69$12,574,963$9,332,825$8,528,148$11,933,166
70$13,831,637$9,764,161$8,787,868$12,882,065
71$15,215,674$10,215,814$9,055,471$13,917,099
72$16,740,038$10,688,755$9,331,195$15,046,608
73$18,419,017$11,183,999$9,615,285$16,279,764
74$20,268,353$11,702,612$9,907,994$17,626,655
75$22,305,396$12,245,711$10,209,583$19,098,376
76$24,549,262$12,814,466$10,520,319$20,707,132
77$27,021,017$13,410,105$10,840,480$22,466,348
78$29,743,874$14,033,913$11,170,350$24,390,797
79$32,743,414$14,687,240$11,510,221$26,496,731
80$36,047,826$15,371,498$11,860,397$28,802,035
81$39,688,172$16,088,170$12,221,188$31,326,390
82$43,698,683$16,838,807$12,592,915$34,091,456
83$48,117,078$17,625,039$12,975,908$37,121,069
84$52,984,926$18,448,571$13,370,506$40,441,469
85$58,348,031$19,311,194$13,777,061$44,081,537
86$64,256,870$20,214,782$14,195,932$48,073,065
87$70,767,067$21,161,303$14,627,492$52,451,053
88$77,939,918$22,152,816$15,072,123$57,254,032
89$85,842,970$23,191,485$15,530,220$62,524,423
90$94,550,658$24,279,573$16,002,187$68,308,935
91$104,145,009$25,419,456$16,488,445$74,658,995
92$114,716,415$26,613,624$16,989,423$81,631,232
93$126,364,485$27,864,688$17,505,565$89,288,004
94$139,198,990$29,175,384$18,037,328$97,697,978
95$153,340,891$30,548,583$18,585,183$106,936,775
96$168,923,490$31,987,291$19,149,614$117,087,673
97$186,093,681$33,494,664$19,731,122$128,242,390
98$205,013,342$35,074,008$20,330,220$140,501,939
99$225,860,859$36,728,790$20,947,438$153,977,573
100$248,832,811$38,462,646$21,583,322$168,791,829