Can I retire at age 64 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$183,326$181,693$180,099$178,544$177,026$175,250
2 years$90,755$89,065$87,427$85,839$84,298$82,509
3 years$59,902$58,205$56,571$54,998$53,482$51,736
4 years$44,479$42,787$41,169$39,623$38,144$36,454
5 years$35,228$33,545$31,949$30,434$28,996$27,368
6 years$29,062$27,392$25,820$24,338$22,944$21,378
7 years$24,659$23,004$21,456$20,010$18,660$17,158
8 years$21,359$19,719$18,197$16,786$15,480$14,042
9 years$18,794$17,169$15,673$14,298$13,036$11,661
10 years$16,742$15,133$13,664$12,325$11,108$9,795
11 years$15,065$13,472$12,029$10,726$9,553$8,302
12 years$13,669$12,092$10,676$9,408$8,278$7,087
13 years$12,488$10,928$9,538$8,306$7,219$6,086
14 years$11,477$9,933$8,570$7,373$6,328$5,253
15 years$10,601$9,074$7,738$6,576$5,572$4,552
16 years$9,835$8,325$7,015$5,888$4,924$3,958
17 years$9,161$7,667$6,384$5,290$4,366$3,452
18 years$8,562$7,085$5,827$4,768$3,882$3,018
19 years$8,026$6,566$5,335$4,308$3,460$2,645
20 years$7,545$6,102$4,896$3,902$3,091$2,322
21 years$7,110$5,683$4,503$3,541$2,766$2,042
22 years$6,715$5,305$4,150$3,220$2,479$1,798
23 years$6,356$4,962$3,832$2,932$2,226$1,585
24 years$6,026$4,649$3,544$2,674$2,000$1,399
25 years$5,724$4,363$3,283$2,442$1,800$1,236
26 years$5,445$4,100$3,044$2,233$1,621$1,093
27 years$5,187$3,859$2,827$2,044$1,462$967
28 years$4,948$3,636$2,628$1,873$1,319$856
29 years$4,726$3,430$2,446$1,717$1,191$758
30 years$4,519$3,240$2,278$1,576$1,076$672
31 years$4,326$3,062$2,124$1,448$973$596
32 years$4,145$2,898$1,982$1,330$880$528
33 years$3,976$2,744$1,850$1,223$797$469
34 years$3,817$2,601$1,729$1,126$721$416
35 years$3,667$2,467$1,616$1,036$653$369
36 years$3,526$2,341$1,512$954$592$328
37 years$3,393$2,224$1,415$879$536$291
38 years$3,267$2,113$1,325$810$486$259
39 years$3,148$2,010$1,242$747$441$230
40 years$3,035$1,912$1,164$689$400$204
41 years$2,928$1,820$1,091$636$363$182
42 years$2,826$1,733$1,024$587$329$161
43 years$2,730$1,652$960$542$299$144
44 years$2,638$1,574$902$500$271$128
45 years$2,550$1,501$847$462$246$113
46 years$2,466$1,432$795$427$224$101
47 years$2,387$1,367$747$394$203$90
48 years$2,310$1,305$702$364$184$80
49 years$2,237$1,246$660$337$167$71
50 years$2,167$1,190$620$311$152$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,220,000, adding $2,622 every year, while hoping to spend $30,184 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: 65/10/25 Blend
63$2,220,000$2,220,000$2,220,000$2,220,000
64$2,449,145$2,331,485$2,297,075$2,592,186
65$2,666,842$2,413,612$2,341,911$2,771,094
66$2,905,732$2,498,752$2,387,238$2,962,934
67$3,167,947$2,587,020$2,433,040$3,171,934
68$3,455,830$2,678,537$2,479,299$3,399,783
69$3,771,967$2,773,428$2,525,999$3,648,341
70$4,119,205$2,871,823$2,573,117$3,919,654
71$4,500,680$2,973,858$2,620,632$4,215,979
72$4,919,847$3,079,675$2,668,521$4,539,799
73$5,380,512$3,189,420$2,716,757$4,893,848
74$5,886,869$3,303,245$2,765,313$5,281,141
75$6,443,536$3,421,311$2,814,157$5,704,993
76$7,055,604$3,543,782$2,863,259$6,169,061
77$7,728,680$3,670,832$2,912,582$6,677,370
78$8,468,942$3,802,639$2,962,090$7,234,354
79$9,283,196$3,939,391$3,011,743$7,844,900
80$10,178,943$4,081,282$3,061,497$8,514,387
81$11,164,445$4,228,515$3,111,307$9,248,745
82$12,248,807$4,381,300$3,161,124$10,054,504
83$13,442,059$4,539,858$3,210,896$10,938,860
84$14,755,256$4,704,418$3,260,568$11,909,739
85$16,200,575$4,875,217$3,310,079$12,975,876
86$17,791,435$5,052,504$3,359,369$14,146,891
87$19,542,623$5,236,538$3,408,369$15,433,387
88$21,470,430$5,427,589$3,457,009$16,847,043
89$23,592,809$5,625,936$3,505,214$18,400,729
90$25,929,541$5,831,872$3,552,905$20,108,625
91$28,502,424$6,045,703$3,599,996$21,986,353
92$31,335,474$6,267,746$3,646,399$24,051,129
93$34,455,159$6,498,332$3,692,020$26,321,921
94$37,890,640$6,737,805$3,736,758$28,819,628
95$41,674,054$6,986,526$3,780,508$31,567,280
96$45,840,811$7,244,869$3,823,158$34,590,252
97$50,429,931$7,513,226$3,864,591$37,916,505
98$55,484,412$7,792,002$3,904,683$41,576,850
99$61,051,636$8,081,623$3,943,303$45,605,236
100$67,183,812$8,382,532$3,980,313$50,039,072