Can I retire at age 64 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$170,113$168,598$167,119$165,676$164,267$160,754
2 years$84,214$82,646$81,126$79,652$78,223$74,700
3 years$55,585$54,010$52,494$51,034$49,628$46,205
4 years$41,273$39,703$38,202$36,767$35,395$32,100
5 years$32,689$31,128$29,646$28,241$26,907$23,748
6 years$26,967$25,418$23,959$22,584$21,290$18,272
7 years$22,882$21,346$19,910$18,568$17,315$14,436
8 years$19,820$18,298$16,885$15,576$14,364$11,625
9 years$17,439$15,931$14,543$13,267$12,097$9,495
10 years$15,536$14,043$12,679$11,437$10,307$7,840
11 years$13,980$12,501$11,162$9,953$8,864$6,530
12 years$12,684$11,221$9,906$8,730$7,682$5,475
13 years$11,588$10,140$8,851$7,708$6,699$4,616
14 years$10,649$9,217$7,952$6,842$5,872$3,910
15 years$9,837$8,420$7,180$6,102$5,170$3,324
16 years$9,127$7,725$6,510$5,463$4,569$2,834
17 years$8,501$7,115$5,924$4,909$4,052$2,423
18 years$7,945$6,574$5,407$4,424$3,602$2,076
19 years$7,448$6,093$4,950$3,997$3,211$1,782
20 years$7,001$5,662$4,543$3,620$2,868$1,532
21 years$6,598$5,274$4,179$3,286$2,567$1,319
22 years$6,231$4,923$3,851$2,987$2,301$1,137
23 years$5,897$4,604$3,556$2,721$2,065$981
24 years$5,592$4,314$3,289$2,481$1,856$847
25 years$5,311$4,048$3,046$2,266$1,670$732
26 years$5,052$3,805$2,825$2,072$1,505$633
27 years$4,813$3,581$2,623$1,897$1,356$548
28 years$4,591$3,374$2,439$1,738$1,224$474
29 years$4,385$3,183$2,269$1,594$1,105$410
30 years$4,193$3,006$2,114$1,462$999$355
31 years$4,014$2,842$1,971$1,343$903$308
32 years$3,846$2,689$1,839$1,234$817$267
33 years$3,689$2,546$1,717$1,135$739$231
34 years$3,542$2,413$1,604$1,044$669$201
35 years$3,403$2,289$1,500$961$606$174
36 years$3,272$2,173$1,403$885$549$151
37 years$3,148$2,064$1,313$816$498$131
38 years$3,032$1,961$1,230$752$451$113
39 years$2,921$1,865$1,152$693$409$98
40 years$2,816$1,774$1,080$640$371$85
41 years$2,717$1,689$1,013$590$337$74
42 years$2,623$1,608$950$545$306$64
43 years$2,533$1,533$891$503$277$56
44 years$2,448$1,461$837$464$252$48
45 years$2,366$1,393$786$429$228$42
46 years$2,289$1,329$738$396$207$36
47 years$2,215$1,268$693$366$188$32
48 years$2,144$1,211$651$338$171$27
49 years$2,076$1,156$612$312$155$24
50 years$2,011$1,104$576$289$141$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,060,000, adding $4,836 every year, while hoping to spend $39,738 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: 50/44/6 Blend
63$2,060,000$2,060,000$2,060,000$2,060,000
64$2,275,108$2,165,928$2,133,998$2,385,248
65$2,464,888$2,229,778$2,163,206$2,524,623
66$2,672,694$2,295,424$2,192,061$2,671,312
67$2,900,323$2,362,913$2,220,508$2,829,752
68$3,149,752$2,432,293$2,248,492$3,001,051
69$3,423,161$2,503,610$2,275,951$3,186,429
70$3,722,950$2,576,913$2,302,822$3,387,226
71$4,051,763$2,652,254$2,329,038$3,604,917
72$4,412,510$2,729,681$2,354,529$3,841,127
73$4,808,399$2,809,248$2,379,218$4,097,641
74$5,242,961$2,891,007$2,403,027$4,376,425
75$5,720,088$2,975,012$2,425,874$4,679,643
76$6,244,066$3,061,316$2,447,669$5,009,676
77$6,819,616$3,149,976$2,468,322$5,369,147
78$7,451,941$3,241,048$2,487,734$5,760,940
79$8,146,768$3,334,590$2,505,803$6,188,235
80$8,910,413$3,430,658$2,522,421$6,654,528
81$9,749,828$3,529,314$2,537,476$7,163,673
82$10,672,676$3,630,616$2,550,847$7,719,911
83$11,687,398$3,734,625$2,562,409$8,327,915
84$12,803,295$3,841,403$2,572,032$8,992,829
85$14,030,611$3,951,013$2,579,575$9,720,319
86$15,380,638$4,063,517$2,584,895$10,516,625
87$16,865,813$4,178,979$2,587,839$11,388,622
88$18,499,840$4,297,463$2,588,246$12,343,881
89$20,297,821$4,419,036$2,585,949$13,390,741
90$22,276,392$4,543,762$2,580,772$14,538,390
91$24,453,885$4,671,707$2,572,529$15,796,948
92$26,850,499$4,802,939$2,561,027$17,177,563
93$29,488,491$4,937,524$2,546,062$18,692,517
94$32,392,385$5,075,530$2,527,423$20,355,341
95$35,589,201$5,217,025$2,504,885$22,180,942
96$39,108,716$5,362,075$2,478,215$24,185,742
97$42,983,738$5,510,750$2,447,168$26,387,836
98$47,250,419$5,663,117$2,411,488$28,807,160
99$51,948,596$5,819,243$2,370,906$31,465,676
100$57,122,163$5,979,197$2,325,142$34,387,587