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%14.4%
1 years$594,569$589,273$584,106$579,063$574,138$563,699
2 years$294,341$288,859$283,547$278,396$273,399$262,919
3 years$194,278$188,773$183,473$178,371$173,456$163,262
4 years$144,257$138,768$133,522$128,506$123,710$113,880
5 years$114,251$108,796$103,618$98,705$94,042$84,605
6 years$94,255$88,840$83,739$78,935$74,413$65,378
7 years$79,977$74,608$69,587$64,897$60,517$51,888
8 years$69,273$63,953$59,016$54,440$50,205$41,979
9 years$60,953$55,682$50,830$46,371$42,280$34,452
10 years$54,300$49,081$44,315$39,972$36,025$28,588
11 years$48,860$43,694$39,014$34,788$30,982$23,929
12 years$44,331$39,217$34,624$30,514$26,849$20,169
13 years$40,501$35,441$30,934$26,939$23,413$17,095
14 years$37,221$32,215$27,795$23,913$20,523$14,557
15 years$34,381$29,429$25,095$21,327$18,070$12,444
16 years$31,899$27,000$22,752$19,096$15,971$10,672
17 years$29,711$24,866$20,704$17,157$14,161$9,177
18 years$27,768$22,978$18,900$15,462$12,591$7,909
19 years$26,031$21,296$17,302$13,971$11,223$6,830
20 years$24,471$19,789$15,879$12,654$10,024$5,907
21 years$23,060$18,433$14,605$11,484$8,971$5,117
22 years$21,780$17,206$13,461$10,442$8,041$4,438
23 years$20,613$16,092$12,429$9,509$7,218$3,853
24 years$19,544$15,078$11,495$8,673$6,488$3,348
25 years$18,563$14,150$10,646$7,921$5,838$2,911
26 years$17,658$13,298$9,874$7,242$5,259$2,533
27 years$16,822$12,515$9,169$6,629$4,741$2,206
28 years$16,047$11,793$8,524$6,074$4,278$1,922
29 years$15,327$11,125$7,932$5,570$3,863$1,675
30 years$14,656$10,507$7,388$5,112$3,490$1,460
31 years$14,030$9,932$6,888$4,695$3,156$1,273
32 years$13,444$9,398$6,427$4,314$2,854$1,111
33 years$12,894$8,900$6,000$3,968$2,583$969
34 years$12,378$8,435$5,606$3,650$2,339$846
35 years$11,893$8,001$5,242$3,360$2,118$739
36 years$11,435$7,594$4,903$3,095$1,919$645
37 years$11,004$7,212$4,590$2,852$1,740$563
38 years$10,596$6,854$4,298$2,628$1,577$492
39 years$10,209$6,518$4,027$2,423$1,430$430
40 years$9,844$6,201$3,774$2,235$1,297$375
41 years$9,496$5,903$3,539$2,062$1,177$328
42 years$9,167$5,622$3,320$1,903$1,068$286
43 years$8,853$5,356$3,115$1,757$969$250
44 years$8,555$5,106$2,924$1,622$880$219
45 years$8,270$4,869$2,746$1,498$799$191
46 years$7,999$4,645$2,579$1,384$725$167
47 years$7,740$4,432$2,423$1,279$658$146
48 years$7,493$4,231$2,277$1,181$598$128
49 years$7,256$4,041$2,140$1,092$543$111
50 years$7,030$3,860$2,012$1,009$493$97

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 $5,931 every year, while hoping to spend $57,865 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: 78/17/5 Blend
63$7,200,000$7,200,000$7,200,000$7,200,000
64$7,940,518$7,558,918$7,447,318$8,557,626
65$8,688,883$7,867,737$7,635,235$9,271,735
66$9,511,641$8,189,749$7,827,508$10,046,479
67$10,416,321$8,525,539$8,024,222$10,894,331
68$11,411,215$8,875,719$8,225,462$11,822,533
69$12,505,459$9,240,929$8,431,315$12,839,058
70$13,709,120$9,621,839$8,641,869$13,952,682
71$15,033,290$10,019,149$8,857,212$15,173,069
72$16,490,190$10,433,592$9,077,432$16,510,858
73$18,093,284$10,865,932$9,302,620$17,977,765
74$19,857,407$11,316,972$9,532,867$19,586,689
75$21,798,908$11,787,548$9,768,263$21,351,837
76$23,935,797$12,278,538$10,008,900$23,288,852
77$26,287,921$12,790,859$10,254,871$25,414,960
78$28,877,147$13,325,470$10,506,268$27,749,136
79$31,727,573$13,883,374$10,763,184$30,312,275
80$34,865,747$14,465,622$11,025,713$33,127,391
81$38,320,928$15,073,312$11,293,948$36,219,832
82$42,125,351$15,707,593$11,567,984$39,617,520
83$46,314,540$16,369,667$11,847,915$43,351,206
84$50,927,636$17,060,795$12,133,833$47,454,767
85$56,007,773$17,782,291$12,425,834$51,965,516
86$61,602,477$18,535,535$12,724,011$56,924,557
87$67,764,121$19,321,967$13,028,457$62,377,170
88$74,550,416$20,143,098$13,339,265$68,373,234
89$82,024,955$21,000,507$13,656,527$74,967,700
90$90,257,815$21,895,846$13,980,335$82,221,101
91$99,326,215$22,830,846$14,310,779$90,200,126
92$109,315,248$23,807,316$14,647,950$98,978,246
93$120,318,682$24,827,154$14,991,935$108,636,402
94$132,439,845$25,892,341$15,342,822$119,263,770
95$145,792,599$27,004,956$15,700,696$130,958,596
96$160,502,416$28,167,171$16,065,642$143,829,123
97$176,707,563$29,381,262$16,437,740$157,994,610
98$194,560,402$30,649,612$16,817,073$173,586,452
99$214,228,834$31,974,714$17,203,715$190,749,418
100$235,897,879$33,359,178$17,597,744$209,643,014