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

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 $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%17.4%
1 years$594,569$589,273$584,106$579,063$574,138$556,875
2 years$294,341$288,859$283,547$278,396$273,399$256,152
3 years$194,278$188,773$183,473$178,371$173,456$156,766
4 years$144,257$138,768$133,522$128,506$123,710$107,705
5 years$114,251$108,796$103,618$98,705$94,042$78,766
6 years$94,255$88,840$83,739$78,935$74,413$59,878
7 years$79,977$74,608$69,587$64,897$60,517$46,724
8 years$69,273$63,953$59,016$54,440$50,205$37,144
9 years$60,953$55,682$50,830$46,371$42,280$29,938
10 years$54,300$49,081$44,315$39,972$36,025$24,384
11 years$48,860$43,694$39,014$34,788$30,982$20,023
12 years$44,331$39,217$34,624$30,514$26,849$16,549
13 years$40,501$35,441$30,934$26,939$23,413$13,748
14 years$37,221$32,215$27,795$23,913$20,523$11,469
15 years$34,381$29,429$25,095$21,327$18,070$9,601
16 years$31,899$27,000$22,752$19,096$15,971$8,060
17 years$29,711$24,866$20,704$17,157$14,161$6,782
18 years$27,768$22,978$18,900$15,462$12,591$5,717
19 years$26,031$21,296$17,302$13,971$11,223$4,828
20 years$24,471$19,789$15,879$12,654$10,024$4,082
21 years$23,060$18,433$14,605$11,484$8,971$3,455
22 years$21,780$17,206$13,461$10,442$8,041$2,928
23 years$20,613$16,092$12,429$9,509$7,218$2,483
24 years$19,544$15,078$11,495$8,673$6,488$2,107
25 years$18,563$14,150$10,646$7,921$5,838$1,789
26 years$17,658$13,298$9,874$7,242$5,259$1,519
27 years$16,822$12,515$9,169$6,629$4,741$1,291
28 years$16,047$11,793$8,524$6,074$4,278$1,098
29 years$15,327$11,125$7,932$5,570$3,863$933
30 years$14,656$10,507$7,388$5,112$3,490$794
31 years$14,030$9,932$6,888$4,695$3,156$675
32 years$13,444$9,398$6,427$4,314$2,854$575
33 years$12,894$8,900$6,000$3,968$2,583$489
34 years$12,378$8,435$5,606$3,650$2,339$416
35 years$11,893$8,001$5,242$3,360$2,118$354
36 years$11,435$7,594$4,903$3,095$1,919$302
37 years$11,004$7,212$4,590$2,852$1,740$257
38 years$10,596$6,854$4,298$2,628$1,577$219
39 years$10,209$6,518$4,027$2,423$1,430$186
40 years$9,844$6,201$3,774$2,235$1,297$159
41 years$9,496$5,903$3,539$2,062$1,177$135
42 years$9,167$5,622$3,320$1,903$1,068$115
43 years$8,853$5,356$3,115$1,757$969$98
44 years$8,555$5,106$2,924$1,622$880$83
45 years$8,270$4,869$2,746$1,498$799$71
46 years$7,999$4,645$2,579$1,384$725$61
47 years$7,740$4,432$2,423$1,279$658$52
48 years$7,493$4,231$2,277$1,181$598$44
49 years$7,256$4,041$2,140$1,092$543$37
50 years$7,030$3,860$2,012$1,009$493$32

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 $5,604 every year, while hoping to spend $41,377 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: 57/24/19 Blend
63$7,200,000$7,200,000$7,200,000$7,200,000
64$7,940,181$7,558,581$7,446,981$8,352,379
65$8,706,054$7,884,926$7,652,430$8,959,757
66$9,548,660$8,225,876$7,863,374$9,616,397
67$10,475,781$8,582,102$8,079,955$10,331,080
68$11,495,993$8,954,307$8,302,316$11,109,399
69$12,618,745$9,343,229$8,530,604$11,957,503
70$13,854,448$9,749,637$8,764,970$12,882,156
71$15,214,572$10,174,341$9,005,568$13,890,796
72$16,711,759$10,618,184$9,252,555$14,991,608
73$18,359,937$11,082,053$9,506,093$16,193,595
74$20,174,450$11,566,874$9,766,347$17,506,663
75$22,172,211$12,073,617$10,033,487$18,941,711
76$24,371,853$12,603,301$10,307,685$20,510,734
77$26,793,907$13,156,988$10,589,118$22,226,932
78$29,460,999$13,735,794$10,877,967$24,104,832
79$32,398,059$14,340,885$11,174,416$26,160,426
80$35,632,558$14,973,486$11,478,656$28,411,313
81$39,194,768$15,634,876$11,790,880$30,876,869
82$43,118,045$16,326,395$12,111,286$33,578,424
83$47,439,148$17,049,450$12,440,075$36,539,459
84$52,198,579$17,805,511$12,777,456$39,785,828
85$57,440,972$18,596,119$13,123,639$43,345,997
86$63,215,510$19,422,889$13,478,840$47,251,309
87$69,576,392$20,287,510$13,843,281$51,536,277
88$76,583,339$21,191,754$14,217,186$56,238,905
89$84,302,166$22,137,475$14,600,788$61,401,045
90$92,805,393$23,126,618$14,994,321$67,068,787
91$102,172,939$24,161,218$15,398,026$73,292,891
92$112,492,868$25,243,407$15,812,149$80,129,260
93$123,862,226$26,375,419$16,236,941$87,639,462
94$136,387,953$27,559,595$16,672,659$95,891,313
95$150,187,896$28,798,387$17,119,565$104,959,504
96$165,391,917$30,094,363$17,577,926$114,926,307
97$182,143,121$31,450,215$18,048,015$125,882,343
98$200,599,206$32,868,763$18,530,110$137,927,434
99$220,933,953$34,352,960$19,024,497$151,171,538
100$243,338,863$35,905,902$19,531,465$165,735,781