Can I retire at age 64 with 2,030,000?

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 $2,030,000?

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$167,636$166,142$164,685$163,264$161,875$158,932
2 years$82,988$81,442$79,944$78,492$77,083$74,129
3 years$54,776$53,223$51,729$50,291$48,905$46,031
4 years$40,672$39,125$37,646$36,232$34,879$32,108
5 years$32,213$30,674$29,215$27,829$26,515$23,854
6 years$26,575$25,048$23,610$22,255$20,980$18,433
7 years$22,549$21,035$19,620$18,297$17,063$14,630
8 years$19,531$18,031$16,639$15,349$14,155$11,836
9 years$17,185$15,699$14,331$13,074$11,921$9,714
10 years$15,310$13,838$12,494$11,270$10,157$8,060
11 years$13,776$12,319$11,000$9,808$8,735$6,747
12 years$12,499$11,057$9,762$8,603$7,570$5,686
13 years$11,419$9,992$8,722$7,595$6,601$4,820
14 years$10,494$9,083$7,837$6,742$5,786$4,104
15 years$9,694$8,297$7,075$6,013$5,095$3,509
16 years$8,994$7,613$6,415$5,384$4,503$3,009
17 years$8,377$7,011$5,837$4,837$3,993$2,587
18 years$7,829$6,478$5,329$4,359$3,550$2,230
19 years$7,339$6,004$4,878$3,939$3,164$1,926
20 years$6,899$5,579$4,477$3,568$2,826$1,666
21 years$6,502$5,197$4,118$3,238$2,529$1,443
22 years$6,141$4,851$3,795$2,944$2,267$1,251
23 years$5,812$4,537$3,504$2,681$2,035$1,086
24 years$5,510$4,251$3,241$2,445$1,829$944
25 years$5,234$3,989$3,002$2,233$1,646$821
26 years$4,979$3,749$2,784$2,042$1,483$714
27 years$4,743$3,529$2,585$1,869$1,337$622
28 years$4,524$3,325$2,403$1,712$1,206$542
29 years$4,321$3,137$2,236$1,570$1,089$472
30 years$4,132$2,962$2,083$1,441$984$412
31 years$3,956$2,800$1,942$1,324$890$359
32 years$3,790$2,650$1,812$1,216$805$313
33 years$3,635$2,509$1,692$1,119$728$273
34 years$3,490$2,378$1,581$1,029$659$239
35 years$3,353$2,256$1,478$947$597$208
36 years$3,224$2,141$1,383$873$541$182
37 years$3,102$2,034$1,294$804$490$159
38 years$2,987$1,933$1,212$741$445$139
39 years$2,878$1,838$1,135$683$403$121
40 years$2,775$1,748$1,064$630$366$106
41 years$2,677$1,664$998$581$332$92
42 years$2,584$1,585$936$537$301$81
43 years$2,496$1,510$878$495$273$71
44 years$2,412$1,440$824$457$248$62
45 years$2,332$1,373$774$422$225$54
46 years$2,255$1,310$727$390$204$47
47 years$2,182$1,250$683$360$186$41
48 years$2,113$1,193$642$333$169$36
49 years$2,046$1,139$603$308$153$31
50 years$1,982$1,088$567$285$139$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,030,000, adding $4,757 every year, while hoping to spend $33,055 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: 72/18/10 Blend
63$2,030,000$2,030,000$2,030,000$2,030,000
64$2,241,967$2,134,377$2,102,912$2,398,795
65$2,435,477$2,203,791$2,138,189$2,572,518
66$2,647,618$2,275,499$2,173,540$2,758,127
67$2,880,254$2,349,577$2,208,933$2,960,453
68$3,135,440$2,426,107$2,244,333$3,181,137
69$3,415,439$2,505,171$2,279,702$3,421,988
70$3,722,745$2,586,854$2,315,003$3,684,996
71$4,060,101$2,671,247$2,350,192$3,972,350
72$4,430,534$2,758,440$2,385,225$4,286,465
73$4,837,374$2,848,529$2,420,056$4,629,997
74$5,284,292$2,941,613$2,454,634$5,005,870
75$5,775,331$3,037,793$2,488,905$5,417,308
76$6,314,945$3,137,175$2,522,814$5,867,859
77$6,908,041$3,239,869$2,556,301$6,361,431
78$7,560,026$3,345,988$2,589,301$6,902,327
79$8,276,856$3,455,648$2,621,750$7,495,290
80$9,065,092$3,568,971$2,653,575$8,145,541
81$9,931,964$3,686,084$2,684,702$8,858,833
82$10,885,437$3,807,115$2,715,053$9,641,503
83$11,934,288$3,932,199$2,744,543$10,500,529
84$13,088,185$4,061,476$2,773,085$11,443,603
85$14,357,782$4,195,091$2,800,586$12,479,195
86$15,754,818$4,333,194$2,826,948$13,616,637
87$17,292,228$4,475,938$2,852,069$14,866,210
88$18,984,261$4,623,485$2,875,839$16,239,241
89$20,846,620$4,776,000$2,898,144$17,748,208
90$22,896,608$4,933,657$2,918,865$19,406,861
91$25,153,290$5,096,634$2,937,874$21,230,346
92$27,637,671$5,265,115$2,955,039$23,235,352
93$30,372,900$5,439,292$2,970,219$25,440,269
94$33,384,482$5,619,363$2,983,268$27,865,354
95$36,700,523$5,805,535$2,994,031$30,532,931
96$40,351,990$5,998,021$3,002,345$33,467,596
97$44,373,009$6,197,040$3,008,040$36,696,450
98$48,801,184$6,402,822$3,010,937$40,249,351
99$53,677,949$6,615,605$3,010,848$44,159,205
100$59,048,965$6,835,635$3,007,575$48,462,263