Can I retire at age 64 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$175,068$173,508$171,987$170,502$169,052$166,183
2 years$86,667$85,053$83,489$81,972$80,501$77,619
3 years$57,204$55,583$54,023$52,520$51,073$48,269
4 years$42,476$40,859$39,315$37,838$36,426$33,720
5 years$33,641$32,034$30,510$29,063$27,690$25,091
6 years$27,753$26,158$24,656$23,242$21,910$19,420
7 years$23,549$21,968$20,490$19,109$17,819$15,439
8 years$20,397$18,830$17,377$16,030$14,783$12,513
9 years$17,947$16,395$14,967$13,654$12,449$10,287
10 years$15,988$14,452$13,048$11,770$10,607$8,552
11 years$14,387$12,865$11,488$10,243$9,123$7,172
12 years$13,053$11,547$10,195$8,985$7,905$6,056
13 years$11,925$10,435$9,108$7,932$6,894$5,144
14 years$10,960$9,486$8,184$7,041$6,043$4,389
15 years$10,123$8,665$7,389$6,280$5,321$3,760
16 years$9,392$7,950$6,699$5,623$4,702$3,231
17 years$8,748$7,322$6,096$5,052$4,170$2,784
18 years$8,176$6,766$5,565$4,553$3,707$2,405
19 years$7,665$6,270$5,094$4,114$3,304$2,081
20 years$7,205$5,827$4,675$3,726$2,952$1,804
21 years$6,790$5,427$4,300$3,381$2,641$1,566
22 years$6,413$5,066$3,964$3,075$2,368$1,362
23 years$6,069$4,738$3,660$2,800$2,125$1,185
24 years$5,755$4,440$3,385$2,554$1,910$1,032
25 years$5,466$4,166$3,135$2,332$1,719$900
26 years$5,199$3,916$2,907$2,132$1,548$785
27 years$4,953$3,685$2,700$1,952$1,396$685
28 years$4,725$3,472$2,510$1,788$1,260$598
29 years$4,513$3,276$2,336$1,640$1,137$523
30 years$4,315$3,094$2,175$1,505$1,028$457
31 years$4,131$2,925$2,028$1,382$929$399
32 years$3,958$2,767$1,892$1,270$840$349
33 years$3,797$2,621$1,767$1,168$761$305
34 years$3,645$2,484$1,651$1,075$689$267
35 years$3,502$2,356$1,543$989$624$234
36 years$3,367$2,236$1,444$911$565$205
37 years$3,240$2,124$1,351$840$512$179
38 years$3,120$2,018$1,266$774$464$157
39 years$3,006$1,919$1,186$714$421$137
40 years$2,898$1,826$1,111$658$382$120
41 years$2,796$1,738$1,042$607$347$105
42 years$2,699$1,655$977$560$314$92
43 years$2,607$1,577$917$517$285$81
44 years$2,519$1,503$861$478$259$71
45 years$2,435$1,434$808$441$235$62
46 years$2,355$1,368$759$407$214$54
47 years$2,279$1,305$713$376$194$48
48 years$2,206$1,246$670$348$176$42
49 years$2,137$1,190$630$321$160$37
50 years$2,070$1,137$592$297$145$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,120,000, adding $5,217 every year, while hoping to spend $22,819 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: 33/44/23 Blend
63$2,120,000$2,120,000$2,120,000$2,120,000
64$2,341,621$2,229,261$2,196,401$2,402,249
65$2,556,187$2,314,216$2,245,702$2,533,075
66$2,791,875$2,402,568$2,295,889$2,671,543
67$3,050,813$2,494,461$2,346,968$2,820,314
68$3,335,349$2,590,043$2,398,945$2,980,311
69$3,648,069$2,689,469$2,451,823$3,152,548
70$3,991,820$2,792,902$2,505,607$3,338,136
71$4,369,741$2,900,509$2,560,300$3,538,295
72$4,785,288$3,012,468$2,615,904$3,754,364
73$5,242,271$3,128,962$2,672,421$3,987,814
74$5,744,886$3,250,185$2,729,850$4,240,259
75$6,297,757$3,376,336$2,788,193$4,513,475
76$6,905,978$3,507,626$2,847,447$4,809,409
77$7,575,161$3,644,274$2,907,610$5,130,204
78$8,311,492$3,786,507$2,968,679$5,478,214
79$9,121,783$3,934,566$3,030,649$5,856,025
80$10,013,544$4,088,698$3,093,515$6,266,482
81$10,995,047$4,249,166$3,157,269$6,712,712
82$12,075,407$4,416,240$3,221,902$7,198,153
83$13,264,667$4,590,205$3,287,405$7,726,587
84$14,573,896$4,771,358$3,353,766$8,302,172
85$16,015,287$4,960,008$3,420,971$8,929,483
86$17,602,279$5,156,480$3,489,006$9,613,554
87$19,349,676$5,361,113$3,557,852$10,359,920
88$21,273,795$5,574,259$3,627,492$11,174,674
89$23,392,613$5,796,289$3,697,904$12,064,519
90$25,725,941$6,027,588$3,769,065$13,036,832
91$28,295,607$6,268,561$3,840,949$14,099,732
92$31,125,666$6,519,628$3,913,529$15,262,154
93$34,242,625$6,781,230$3,986,773$16,533,934
94$37,675,691$7,053,828$4,060,648$17,925,898
95$41,457,049$7,337,904$4,135,117$19,449,965
96$45,622,167$7,633,960$4,210,143$21,119,256
97$50,210,127$7,942,523$4,285,681$22,948,215
98$55,263,995$8,264,142$4,361,687$24,952,748
99$60,831,230$8,599,392$4,438,110$27,150,367
100$66,964,127$8,948,874$4,514,899$29,560,354