Can I retire at age 64 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$594,569$589,273$584,106$579,063$574,138$570,999
2 years$294,341$288,859$283,547$278,396$273,399$270,231
3 years$194,278$188,773$183,473$178,371$173,456$170,357
4 years$144,257$138,768$133,522$128,506$123,710$120,705
5 years$114,251$108,796$103,618$98,705$94,042$91,140
6 years$94,255$88,840$83,739$78,935$74,413$71,616
7 years$79,977$74,608$69,587$64,897$60,517$57,829
8 years$69,273$63,953$59,016$54,440$50,205$47,624
9 years$60,953$55,682$50,830$46,371$42,280$39,806
10 years$54,300$49,081$44,315$39,972$36,025$33,656
11 years$48,860$43,694$39,014$34,788$30,982$28,718
12 years$44,331$39,217$34,624$30,514$26,849$24,687
13 years$40,501$35,441$30,934$26,939$23,413$21,351
14 years$37,221$32,215$27,795$23,913$20,523$18,560
15 years$34,381$29,429$25,095$21,327$18,070$16,203
16 years$31,899$27,000$22,752$19,096$15,971$14,196
17 years$29,711$24,866$20,704$17,157$14,161$12,476
18 years$27,768$22,978$18,900$15,462$12,591$10,993
19 years$26,031$21,296$17,302$13,971$11,223$9,709
20 years$24,471$19,789$15,879$12,654$10,024$8,592
21 years$23,060$18,433$14,605$11,484$8,971$7,617
22 years$21,780$17,206$13,461$10,442$8,041$6,762
23 years$20,613$16,092$12,429$9,509$7,218$6,012
24 years$19,544$15,078$11,495$8,673$6,488$5,351
25 years$18,563$14,150$10,646$7,921$5,838$4,768
26 years$17,658$13,298$9,874$7,242$5,259$4,252
27 years$16,822$12,515$9,169$6,629$4,741$3,795
28 years$16,047$11,793$8,524$6,074$4,278$3,389
29 years$15,327$11,125$7,932$5,570$3,863$3,029
30 years$14,656$10,507$7,388$5,112$3,490$2,708
31 years$14,030$9,932$6,888$4,695$3,156$2,423
32 years$13,444$9,398$6,427$4,314$2,854$2,169
33 years$12,894$8,900$6,000$3,968$2,583$1,942
34 years$12,378$8,435$5,606$3,650$2,339$1,740
35 years$11,893$8,001$5,242$3,360$2,118$1,559
36 years$11,435$7,594$4,903$3,095$1,919$1,397
37 years$11,004$7,212$4,590$2,852$1,740$1,252
38 years$10,596$6,854$4,298$2,628$1,577$1,123
39 years$10,209$6,518$4,027$2,423$1,430$1,007
40 years$9,844$6,201$3,774$2,235$1,297$904
41 years$9,496$5,903$3,539$2,062$1,177$811
42 years$9,167$5,622$3,320$1,903$1,068$727
43 years$8,853$5,356$3,115$1,757$969$653
44 years$8,555$5,106$2,924$1,622$880$586
45 years$8,270$4,869$2,746$1,498$799$526
46 years$7,999$4,645$2,579$1,384$725$472
47 years$7,740$4,432$2,423$1,279$658$424
48 years$7,493$4,231$2,277$1,181$598$381
49 years$7,256$4,041$2,140$1,092$543$342
50 years$7,030$3,860$2,012$1,009$493$307

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $7,200,000, adding $5,677 every year, while hoping to spend $39,480 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: 45/25/30 Blend
63$7,200,000$7,200,000$7,200,000$7,200,000
64$7,940,256$7,558,656$7,447,056$8,228,391
65$8,708,156$7,887,024$7,654,526$8,762,897
66$9,553,058$8,230,158$7,867,623$9,338,032
67$10,482,775$8,588,741$8,086,494$9,961,071
68$11,505,916$8,963,487$8,311,289$10,636,517
69$12,631,965$9,355,144$8,542,162$11,369,318
70$13,871,372$9,764,493$8,779,272$12,164,911
71$15,235,655$10,192,355$9,022,780$13,029,270
72$16,737,500$10,639,589$9,272,852$13,968,966
73$18,390,889$11,107,094$9,529,657$14,991,219
74$20,211,229$11,595,810$9,793,369$16,103,971
75$22,215,493$12,106,724$10,064,166$17,315,953
76$24,422,389$12,640,868$10,342,231$18,636,768
77$26,852,526$13,199,325$10,627,749$20,076,981
78$29,528,618$13,783,226$10,920,913$21,648,209
79$32,475,691$14,393,757$11,221,917$23,363,236
80$35,721,322$15,032,163$11,530,962$25,236,125
81$39,295,901$15,699,743$11,848,254$27,282,351
82$43,232,914$16,397,861$12,174,001$29,518,944
83$47,569,260$17,127,945$12,508,419$31,964,641
84$52,345,601$17,891,491$12,851,727$34,640,069
85$57,606,743$18,690,065$13,204,151$37,567,928
86$63,402,062$19,525,309$13,565,921$40,773,203
87$69,785,965$20,398,942$13,937,272$44,283,402
88$76,818,408$21,312,765$14,318,446$48,128,802
89$84,565,460$22,268,665$14,709,688$52,342,739
90$93,099,927$23,268,618$15,111,252$56,961,913
91$102,502,035$24,314,697$15,523,395$62,026,734
92$112,860,195$25,409,069$15,946,381$67,581,693
93$124,271,830$26,554,009$16,380,480$73,675,785
94$136,844,299$27,751,898$16,825,968$80,362,957
95$150,695,907$29,005,230$17,283,128$87,702,620
96$165,957,024$30,316,621$17,752,247$95,760,199
97$182,771,314$31,688,809$18,233,621$104,607,748
98$201,297,092$33,124,664$18,727,551$114,324,620
99$221,708,817$34,627,194$19,234,346$124,998,216
100$244,198,739$36,199,550$19,754,319$136,724,796