Can I retire at age 64 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$166,810$165,324$163,874$162,459$161,078$156,297
2 years$82,579$81,041$79,551$78,105$76,704$71,927
3 years$54,506$52,961$51,474$50,043$48,664$44,041
4 years$40,472$38,932$37,460$36,053$34,708$30,273
5 years$32,054$30,523$29,071$27,692$26,384$22,151
6 years$26,444$24,925$23,493$22,146$20,877$16,848
7 years$22,438$20,932$19,523$18,207$16,978$13,154
8 years$19,435$17,942$16,557$15,274$14,085$10,464
9 years$17,101$15,622$14,261$13,010$11,862$8,439
10 years$15,234$13,770$12,433$11,214$10,107$6,878
11 years$13,708$12,259$10,946$9,760$8,692$5,651
12 years$12,437$11,003$9,714$8,561$7,533$4,674
13 years$11,363$9,943$8,679$7,558$6,569$3,885
14 years$10,443$9,038$7,798$6,709$5,758$3,244
15 years$9,646$8,256$7,040$5,983$5,070$2,717
16 years$8,949$7,575$6,383$5,357$4,481$2,283
17 years$8,335$6,976$5,808$4,814$3,973$1,922
18 years$7,790$6,447$5,302$4,338$3,532$1,622
19 years$7,303$5,975$4,854$3,920$3,149$1,370
20 years$6,865$5,552$4,455$3,550$2,812$1,160
21 years$6,470$5,171$4,098$3,222$2,517$982
22 years$6,110$4,827$3,777$2,929$2,256$833
23 years$5,783$4,515$3,487$2,668$2,025$707
24 years$5,483$4,230$3,225$2,433$1,820$600
25 years$5,208$3,970$2,987$2,222$1,638$510
26 years$4,954$3,731$2,770$2,032$1,475$434
27 years$4,720$3,511$2,572$1,860$1,330$369
28 years$4,502$3,309$2,391$1,704$1,200$314
29 years$4,300$3,121$2,225$1,563$1,084$267
30 years$4,112$2,948$2,073$1,434$979$227
31 years$3,936$2,787$1,932$1,317$885$194
32 years$3,772$2,637$1,803$1,210$801$165
33 years$3,618$2,497$1,683$1,113$725$140
34 years$3,473$2,367$1,573$1,024$656$120
35 years$3,337$2,245$1,471$943$594$102
36 years$3,208$2,131$1,376$868$538$87
37 years$3,087$2,023$1,288$800$488$74
38 years$2,973$1,923$1,206$737$442$63
39 years$2,864$1,829$1,130$680$401$54
40 years$2,762$1,740$1,059$627$364$46
41 years$2,664$1,656$993$579$330$39
42 years$2,572$1,577$931$534$300$33
43 years$2,484$1,503$874$493$272$28
44 years$2,400$1,432$820$455$247$24
45 years$2,320$1,366$770$420$224$21
46 years$2,244$1,303$723$388$203$18
47 years$2,172$1,244$680$359$185$15
48 years$2,102$1,187$639$331$168$13
49 years$2,036$1,134$600$306$152$11
50 years$1,972$1,083$564$283$138$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,020,000, adding $4,657 every year, while hoping to spend $38,824 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: 59/28/13 Blend
63$2,020,000$2,020,000$2,020,000$2,020,000
64$2,230,844$2,123,784$2,092,474$2,355,006
65$2,417,081$2,186,541$2,121,263$2,502,004
66$2,621,014$2,251,072$2,149,716$2,657,475
67$2,844,406$2,317,422$2,177,779$2,826,084
68$3,089,199$2,385,639$2,205,399$3,009,099
69$3,357,532$2,455,771$2,232,515$3,207,919
70$3,651,763$2,527,867$2,259,067$3,424,080
71$3,974,486$2,601,975$2,284,989$3,659,277
72$4,328,559$2,678,148$2,310,211$3,915,373
73$4,717,131$2,756,436$2,334,662$4,194,421
74$5,143,670$2,836,892$2,358,265$4,498,681
75$5,611,995$2,919,571$2,380,938$4,830,643
76$6,126,316$3,004,527$2,402,596$5,193,045
77$6,691,266$3,091,815$2,423,150$5,588,908
78$7,311,954$3,181,493$2,442,504$6,021,555
79$7,994,005$3,273,617$2,460,559$6,494,647
80$8,743,616$3,368,247$2,477,210$7,012,219
81$9,567,615$3,465,442$2,492,347$7,578,710
82$10,473,525$3,565,262$2,505,854$8,199,016
83$11,469,633$3,667,768$2,517,609$8,878,526
84$12,565,071$3,773,023$2,527,483$9,623,177
85$13,769,897$3,881,091$2,535,343$10,439,512
86$15,095,196$3,992,034$2,541,047$11,334,737
87$16,553,179$4,105,917$2,544,445$12,316,791
88$18,157,303$4,222,806$2,545,384$13,394,420
89$19,922,392$4,342,767$2,543,698$14,577,262
90$21,864,780$4,465,868$2,539,216$15,875,933
91$24,002,467$4,592,175$2,531,759$17,302,133
92$26,355,284$4,721,756$2,521,138$18,868,749
93$28,945,082$4,854,681$2,507,155$20,589,982
94$31,795,938$4,991,018$2,489,603$22,481,481
95$34,934,383$5,130,837$2,468,264$24,560,487
96$38,389,650$5,274,208$2,442,910$26,845,995
97$42,193,951$5,421,201$2,413,304$29,358,938
98$46,382,780$5,571,886$2,379,196$32,122,383
99$50,995,248$5,726,334$2,340,324$35,161,743
100$56,074,454$5,884,614$2,296,415$38,505,023