Can I retire at age 64 with 9,700,000?

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 $9,700,000?

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$801,017$793,882$786,921$780,126$773,492$742,802
2 years$396,543$389,158$382,000$375,061$368,329$337,791
3 years$261,736$254,319$247,180$240,305$233,683$204,257
4 years$194,346$186,951$179,883$173,126$166,665$138,575
5 years$153,922$146,572$139,597$132,978$126,696$100,014
6 years$126,982$119,687$112,815$106,343$100,250$74,993
7 years$107,746$100,513$93,750$87,431$81,530$57,689
8 years$93,326$86,158$79,507$73,343$67,637$45,187
9 years$82,117$75,016$68,480$62,472$56,960$35,868
10 years$73,154$66,123$59,702$53,852$48,533$28,756
11 years$65,826$58,866$52,561$46,867$41,740$23,234
12 years$59,723$52,835$46,646$41,109$36,171$18,885
13 years$54,564$47,747$41,675$36,293$31,542$15,423
14 years$50,145$43,401$37,446$32,217$27,649$12,645
15 years$46,319$39,647$33,808$28,732$24,345$10,398
16 years$42,975$36,376$30,652$25,726$21,516$8,572
17 years$40,027$33,501$27,892$23,115$19,078$7,081
18 years$37,409$30,956$25,462$20,831$16,963$5,860
19 years$35,070$28,690$23,309$18,823$15,119$4,855
20 years$32,967$26,660$21,392$17,047$13,505$4,027
21 years$31,067$24,833$19,677$15,472$12,085$3,344
22 years$29,342$23,180$18,135$14,067$10,833$2,778
23 years$27,770$21,680$16,744$12,811$9,724$2,310
24 years$26,330$20,313$15,486$11,685$8,740$1,922
25 years$25,008$19,063$14,343$10,671$7,865$1,599
26 years$23,790$17,916$13,302$9,757$7,084$1,331
27 years$22,663$16,861$12,352$8,931$6,387$1,109
28 years$21,619$15,888$11,483$8,183$5,763$924
29 years$20,649$14,988$10,686$7,504$5,204$770
30 years$19,745$14,155$9,954$6,887$4,702$641
31 years$18,901$13,381$9,280$6,325$4,251$534
32 years$18,111$12,661$8,658$5,813$3,846$445
33 years$17,371$11,990$8,084$5,345$3,480$371
34 years$16,676$11,364$7,553$4,918$3,151$310
35 years$16,022$10,779$7,062$4,527$2,854$258
36 years$15,406$10,231$6,606$4,170$2,586$215
37 years$14,824$9,717$6,183$3,842$2,344$179
38 years$14,275$9,234$5,790$3,541$2,125$150
39 years$13,754$8,781$5,425$3,265$1,927$125
40 years$13,261$8,354$5,085$3,011$1,748$104
41 years$12,794$7,953$4,768$2,778$1,586$87
42 years$12,350$7,574$4,472$2,564$1,439$72
43 years$11,927$7,216$4,197$2,367$1,306$60
44 years$11,525$6,879$3,939$2,186$1,185$50
45 years$11,142$6,559$3,699$2,018$1,076$42
46 years$10,776$6,257$3,474$1,864$977$35
47 years$10,428$5,971$3,264$1,723$887$29
48 years$10,094$5,701$3,067$1,592$806$24
49 years$9,776$5,444$2,883$1,471$732$20
50 years$9,471$5,200$2,710$1,360$665$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $9,700,000, adding $2,535 every year, while hoping to spend $59,708 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: 22/49/29 Blend
63$9,700,000$9,700,000$9,700,000$9,700,000
64$10,692,015$10,177,915$10,027,565$10,828,987
65$11,719,072$10,613,104$10,299,959$11,387,034
66$12,848,887$11,067,616$10,579,478$11,978,458
67$14,091,879$11,542,335$10,866,296$12,609,899
68$15,459,527$12,038,186$11,160,594$13,284,669
69$16,964,479$12,556,137$11,462,554$14,006,387
70$18,620,671$13,097,203$11,772,364$14,779,010
71$20,443,458$13,662,444$12,090,217$15,606,862
72$22,449,758$14,252,971$12,416,306$16,494,675
73$24,658,214$14,869,948$12,750,834$17,447,628
74$27,089,369$15,514,592$13,094,003$18,471,388
75$29,765,855$16,188,178$13,446,023$19,572,160
76$32,712,615$16,892,041$13,807,107$20,756,740
77$35,957,129$17,627,578$14,177,473$22,032,576
78$39,529,680$18,396,253$14,557,342$23,407,827
79$43,463,636$19,199,599$14,946,942$24,891,441
80$47,795,767$20,039,219$15,346,505$26,493,224
81$52,566,588$20,916,794$15,756,266$28,223,935
82$57,820,747$21,834,083$16,176,467$30,095,374
83$63,607,439$22,792,929$16,607,355$32,120,490
84$69,980,876$23,795,262$17,049,180$34,313,493
85$77,000,797$24,843,101$17,502,199$36,689,981
86$84,733,028$25,938,563$17,966,672$39,267,081
87$93,250,109$27,083,864$18,442,868$42,063,597
88$102,631,973$28,281,326$18,931,057$45,100,183
89$112,966,703$29,533,380$19,431,516$48,399,528
90$124,351,363$30,842,572$19,944,528$51,986,557
91$136,892,913$32,211,569$20,470,381$55,888,658
92$150,709,220$33,643,165$21,009,368$60,135,932
93$165,930,166$35,140,286$21,561,787$64,761,462
94$182,698,879$36,705,997$22,127,944$69,801,613
95$201,173,083$38,343,508$22,708,147$75,296,368
96$221,526,581$40,056,184$23,302,714$81,289,688
97$243,950,902$41,847,546$23,911,965$87,829,914
98$268,657,104$43,721,287$24,536,226$94,970,211
99$295,877,771$45,681,272$25,175,832$102,769,054
100$325,869,201$47,731,552$25,831,120$111,290,763