Can I retire at age 64 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$160,203$158,776$157,384$156,025$154,698$153,274
2 years$79,309$77,832$76,400$75,012$73,666$72,231
3 years$52,347$50,864$49,436$48,061$46,737$45,336
4 years$38,869$37,390$35,977$34,625$33,333$31,976
5 years$30,784$29,314$27,919$26,596$25,339$24,031
6 years$25,396$23,937$22,563$21,269$20,050$18,792
7 years$21,549$20,103$18,750$17,486$16,306$15,099
8 years$18,665$17,232$15,901$14,669$13,527$12,371
9 years$16,423$15,003$13,696$12,494$11,392$10,286
10 years$14,631$13,225$11,940$10,770$9,707$8,650
11 years$13,165$11,773$10,512$9,373$8,348$7,340
12 years$11,945$10,567$9,329$8,222$7,234$6,274
13 years$10,913$9,549$8,335$7,259$6,308$5,395
14 years$10,029$8,680$7,489$6,443$5,530$4,662
15 years$9,264$7,929$6,762$5,746$4,869$4,046
16 years$8,595$7,275$6,130$5,145$4,303$3,523
17 years$8,005$6,700$5,578$4,623$3,816$3,077
18 years$7,482$6,191$5,092$4,166$3,393$2,694
19 years$7,014$5,738$4,662$3,765$3,024$2,364
20 years$6,593$5,332$4,278$3,409$2,701$2,078
21 years$6,213$4,967$3,935$3,094$2,417$1,830
22 years$5,868$4,636$3,627$2,813$2,167$1,614
23 years$5,554$4,336$3,349$2,562$1,945$1,425
24 years$5,266$4,063$3,097$2,337$1,748$1,260
25 years$5,002$3,813$2,869$2,134$1,573$1,115
26 years$4,758$3,583$2,660$1,951$1,417$987
27 years$4,533$3,372$2,470$1,786$1,277$875
28 years$4,324$3,178$2,297$1,637$1,153$776
29 years$4,130$2,998$2,137$1,501$1,041$688
30 years$3,949$2,831$1,991$1,377$940$611
31 years$3,780$2,676$1,856$1,265$850$543
32 years$3,622$2,532$1,732$1,163$769$482
33 years$3,474$2,398$1,617$1,069$696$428
34 years$3,335$2,273$1,511$984$630$381
35 years$3,204$2,156$1,412$905$571$339
36 years$3,081$2,046$1,321$834$517$301
37 years$2,965$1,943$1,237$768$469$268
38 years$2,855$1,847$1,158$708$425$239
39 years$2,751$1,756$1,085$653$385$212
40 years$2,652$1,671$1,017$602$350$189
41 years$2,559$1,591$954$556$317$168
42 years$2,470$1,515$894$513$288$150
43 years$2,385$1,443$839$473$261$133
44 years$2,305$1,376$788$437$237$119
45 years$2,228$1,312$740$404$215$106
46 years$2,155$1,251$695$373$195$94
47 years$2,086$1,194$653$345$177$84
48 years$2,019$1,140$613$318$161$75
49 years$1,955$1,089$577$294$146$67
50 years$1,894$1,040$542$272$133$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,940,000, adding $5,905 every year, while hoping to spend $23,592 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: 69/22/9 Blend
63$1,940,000$1,940,000$1,940,000$1,940,000
64$2,143,971$2,041,151$2,011,081$2,287,837
65$2,337,554$2,116,066$2,053,351$2,458,881
66$2,550,092$2,193,861$2,096,245$2,642,500
67$2,783,494$2,274,652$2,139,762$2,842,735
68$3,039,861$2,358,560$2,183,894$3,061,212
69$3,321,510$2,445,713$2,228,638$3,299,720
70$3,630,991$2,536,240$2,273,985$3,560,229
71$3,971,117$2,630,280$2,319,928$3,844,907
72$4,344,983$2,727,976$2,366,457$4,156,142
73$4,756,001$2,829,477$2,413,563$4,496,560
74$5,207,929$2,934,937$2,461,234$4,869,055
75$5,704,908$3,044,520$2,509,456$5,276,811
76$6,251,502$3,158,394$2,558,215$5,723,335
77$6,852,735$3,276,736$2,607,496$6,212,490
78$7,514,148$3,399,729$2,657,280$6,748,526
79$8,241,841$3,527,566$2,707,549$7,336,127
80$9,042,538$3,660,446$2,758,281$7,980,449
81$9,923,647$3,798,578$2,809,454$8,687,170
82$10,893,330$3,942,180$2,861,042$9,462,546
83$11,960,582$4,091,478$2,913,019$10,313,466
84$13,135,311$4,246,711$2,965,355$11,247,515
85$14,428,438$4,408,124$3,018,019$12,273,052
86$15,851,993$4,575,977$3,070,977$13,399,282
87$17,419,234$4,750,537$3,124,192$14,636,343
88$19,144,769$4,932,087$3,177,626$15,995,405
89$21,044,695$5,120,919$3,231,237$17,488,772
90$23,136,749$5,317,339$3,284,978$19,129,997
91$25,440,476$5,521,667$3,338,803$20,934,011
92$27,977,412$5,734,237$3,392,661$22,917,262
93$30,771,289$5,955,395$3,446,496$25,097,870
94$33,848,256$6,185,505$3,500,250$27,495,798
95$37,237,131$6,424,948$3,553,861$30,133,039
96$40,969,666$6,674,118$3,607,263$33,033,824
97$45,080,852$6,933,430$3,660,386$36,224,846
98$49,609,246$7,203,314$3,713,155$39,735,518
99$54,597,335$7,484,223$3,765,492$43,598,243
100$60,091,939$7,776,626$3,817,312$47,848,722