Can I retire at age 64 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$184,977$183,329$181,722$180,153$178,621$172,420
2 years$91,573$89,867$88,215$86,612$85,057$78,875
3 years$60,442$58,729$57,081$55,493$53,964$47,993
4 years$44,880$43,172$41,540$39,980$38,488$32,774
5 years$35,545$33,848$32,237$30,708$29,258$23,817
6 years$29,324$27,639$26,052$24,558$23,151$17,987
7 years$24,882$23,211$21,649$20,190$18,828$13,940
8 years$21,552$19,896$18,360$16,937$15,619$11,004
9 years$18,963$17,323$15,814$14,427$13,154$8,804
10 years$16,893$15,270$13,787$12,436$11,208$7,117
11 years$15,201$13,594$12,138$10,823$9,639$5,799
12 years$13,792$12,201$10,772$9,493$8,353$4,755
13 years$12,600$11,026$9,624$8,381$7,284$3,918
14 years$11,580$10,022$8,647$7,440$6,385$3,241
15 years$10,696$9,156$7,807$6,635$5,622$2,690
16 years$9,924$8,400$7,078$5,941$4,969$2,239
17 years$9,243$7,736$6,441$5,338$4,406$1,867
18 years$8,639$7,149$5,880$4,810$3,917$1,560
19 years$8,099$6,625$5,383$4,347$3,491$1,306
20 years$7,613$6,157$4,940$3,937$3,119$1,094
21 years$7,174$5,735$4,544$3,573$2,791$917
22 years$6,776$5,353$4,188$3,249$2,502$770
23 years$6,413$5,007$3,867$2,959$2,246$647
24 years$6,080$4,691$3,576$2,698$2,018$544
25 years$5,775$4,402$3,312$2,464$1,816$457
26 years$5,494$4,137$3,072$2,253$1,636$385
27 years$5,234$3,894$2,853$2,062$1,475$324
28 years$4,992$3,669$2,652$1,890$1,331$273
29 years$4,768$3,461$2,468$1,733$1,202$229
30 years$4,560$3,269$2,299$1,590$1,086$193
31 years$4,365$3,090$2,143$1,461$982$163
32 years$4,182$2,924$1,999$1,342$888$137
33 years$4,012$2,769$1,867$1,234$804$116
34 years$3,851$2,624$1,744$1,136$728$97
35 years$3,700$2,489$1,631$1,045$659$82
36 years$3,558$2,363$1,526$963$597$69
37 years$3,423$2,244$1,428$887$541$58
38 years$3,296$2,132$1,337$818$491$49
39 years$3,176$2,028$1,253$754$445$41
40 years$3,062$1,929$1,174$695$404$35
41 years$2,954$1,836$1,101$642$366$29
42 years$2,852$1,749$1,033$592$332$25
43 years$2,754$1,666$969$547$302$21
44 years$2,661$1,588$910$505$274$18
45 years$2,573$1,515$854$466$248$15
46 years$2,489$1,445$802$431$226$13
47 years$2,408$1,379$754$398$205$11
48 years$2,331$1,316$708$368$186$9
49 years$2,257$1,257$666$340$169$8
50 years$2,187$1,201$626$314$153$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,240,000, adding $3,836 every year, while hoping to spend $37,716 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: 22/48/30 Blend
63$2,240,000$2,240,000$2,240,000$2,240,000
64$2,472,437$2,353,717$2,318,997$2,503,344
65$2,684,496$2,428,919$2,356,554$2,606,736
66$2,916,921$2,506,543$2,394,105$2,713,883
67$3,171,749$2,586,666$2,431,610$2,827,709
68$3,451,225$2,669,370$2,469,026$2,948,785
69$3,757,820$2,754,739$2,506,309$3,077,738
70$4,094,257$2,842,861$2,543,409$3,215,258
71$4,463,534$2,933,824$2,580,276$3,362,100
72$4,868,955$3,027,722$2,616,856$3,519,097
73$5,314,159$3,124,650$2,653,090$3,687,160
74$5,803,153$3,224,708$2,688,919$3,867,292
75$6,340,353$3,327,997$2,724,276$4,060,595
76$6,930,624$3,434,624$2,759,095$4,268,281
77$7,579,324$3,544,697$2,793,301$4,491,681
78$8,292,358$3,658,330$2,826,820$4,732,261
79$9,076,230$3,775,640$2,859,569$4,991,631
80$9,938,105$3,896,746$2,891,465$5,271,561
81$10,885,879$4,021,773$2,922,416$5,574,002
82$11,928,249$4,150,851$2,952,327$5,901,098
83$13,074,800$4,284,111$2,981,099$6,255,208
84$14,336,089$4,421,693$3,008,626$6,638,928
85$15,723,751$4,563,737$3,034,796$7,055,117
86$17,250,604$4,710,391$3,059,492$7,506,919
87$18,930,772$4,861,806$3,082,591$7,997,797
88$20,779,816$5,018,139$3,103,963$8,531,563
89$22,814,883$5,179,554$3,123,471$9,112,413
90$25,054,865$5,346,216$3,140,972$9,744,967
91$27,520,581$5,518,301$3,156,315$10,434,314
92$30,234,969$5,695,986$3,169,340$11,186,055
93$33,223,304$5,879,458$3,179,881$12,006,361
94$36,513,437$6,068,907$3,187,762$12,902,024
95$40,136,056$6,264,532$3,192,801$13,880,529
96$44,124,977$6,466,537$3,194,803$14,950,117
97$48,517,462$6,675,134$3,193,566$16,119,866
98$53,354,570$6,890,543$3,188,877$17,399,774
99$58,681,545$7,112,989$3,180,514$18,800,856
100$64,548,243$7,342,706$3,168,242$20,335,244