Can I retire at age 64 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$199,841$198,061$196,325$194,629$192,974$185,464
2 years$98,931$97,089$95,303$93,572$91,892$84,417
3 years$65,299$63,449$61,667$59,952$58,300$51,095
4 years$48,486$46,641$44,878$43,192$41,580$34,699
5 years$38,401$36,567$34,827$33,176$31,609$25,070
6 years$31,680$29,860$28,146$26,531$25,011$18,819
7 years$26,881$25,076$23,389$21,813$20,341$14,493
8 years$23,283$21,495$19,836$18,298$16,874$11,366
9 years$20,487$18,715$17,085$15,586$14,211$9,033
10 years$18,251$16,497$14,895$13,435$12,108$7,251
11 years$16,423$14,686$13,113$11,693$10,413$5,866
12 years$14,900$13,181$11,638$10,256$9,024$4,775
13 years$13,613$11,912$10,397$9,055$7,869$3,905
14 years$12,510$10,828$9,342$8,038$6,898$3,206
15 years$11,556$9,891$8,435$7,168$6,074$2,640
16 years$10,722$9,075$7,647$6,418$5,368$2,180
17 years$9,986$8,358$6,959$5,767$4,760$1,803
18 years$9,333$7,723$6,352$5,197$4,232$1,494
19 years$8,749$7,158$5,815$4,696$3,772$1,240
20 years$8,225$6,651$5,337$4,253$3,369$1,030
21 years$7,751$6,195$4,909$3,860$3,015$857
22 years$7,320$5,783$4,524$3,510$2,703$713
23 years$6,928$5,409$4,177$3,196$2,426$594
24 years$6,569$5,068$3,863$2,915$2,181$495
25 years$6,239$4,756$3,578$2,662$1,962$412
26 years$5,935$4,470$3,319$2,434$1,767$344
27 years$5,654$4,207$3,082$2,228$1,594$287
28 years$5,394$3,964$2,865$2,041$1,438$239
29 years$5,152$3,739$2,666$1,872$1,298$200
30 years$4,926$3,531$2,483$1,718$1,173$167
31 years$4,716$3,338$2,315$1,578$1,061$139
32 years$4,519$3,159$2,160$1,450$959$116
33 years$4,334$2,991$2,017$1,334$868$97
34 years$4,160$2,835$1,884$1,227$786$81
35 years$3,997$2,689$1,762$1,129$712$68
36 years$3,844$2,552$1,648$1,040$645$56
37 years$3,698$2,424$1,543$958$585$47
38 years$3,561$2,304$1,445$883$530$39
39 years$3,432$2,191$1,353$815$481$33
40 years$3,309$2,084$1,269$751$436$27
41 years$3,192$1,984$1,190$693$396$23
42 years$3,081$1,890$1,116$640$359$19
43 years$2,976$1,800$1,047$591$326$16
44 years$2,875$1,716$983$545$296$13
45 years$2,780$1,636$923$504$268$11
46 years$2,689$1,561$867$465$244$9
47 years$2,602$1,490$814$430$221$8
48 years$2,518$1,422$765$397$201$7
49 years$2,439$1,358$719$367$183$5
50 years$2,363$1,297$676$339$166$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,420,000, adding $4,131 every year, while hoping to spend $43,982 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: 62/24/14 Blend
63$2,420,000$2,420,000$2,420,000$2,420,000
64$2,671,101$2,542,841$2,505,331$2,827,346
65$2,896,757$2,620,644$2,542,463$3,010,552
66$3,143,956$2,700,785$2,579,365$3,205,081
67$3,414,848$2,783,332$2,615,983$3,416,367
68$3,711,803$2,868,356$2,652,259$3,646,038
69$4,037,429$2,955,928$2,688,132$3,895,885
70$4,394,601$3,046,122$2,723,538$4,167,882
71$4,786,483$3,139,015$2,758,409$4,464,201
72$5,216,561$3,234,683$2,792,673$4,787,232
73$5,688,676$3,333,208$2,826,253$5,139,609
74$6,207,057$3,434,672$2,859,068$5,524,231
75$6,776,364$3,539,158$2,891,035$5,944,290
76$7,401,731$3,646,754$2,922,062$6,403,304
77$8,088,811$3,757,549$2,952,055$6,905,143
78$8,843,835$3,871,634$2,980,914$7,454,074
79$9,673,665$3,989,104$3,008,534$8,054,793
80$10,585,863$4,110,053$3,034,803$8,712,476
81$11,588,757$4,234,582$3,059,605$9,432,820
82$12,691,525$4,362,792$3,082,817$10,222,105
83$13,904,279$4,494,786$3,104,309$11,087,247
84$15,238,157$4,630,672$3,123,945$12,035,862
85$16,705,433$4,770,559$3,141,582$13,076,346
86$18,319,630$4,914,560$3,157,068$14,217,943
87$20,095,648$5,062,789$3,170,245$15,470,839
88$22,049,904$5,215,366$3,180,948$16,846,259
89$24,200,485$5,372,410$3,189,001$18,356,564
90$26,567,323$5,534,046$3,194,221$20,015,378
91$29,172,377$5,700,402$3,196,415$21,837,710
92$32,039,846$5,871,607$3,195,380$23,840,095
93$35,196,390$6,047,796$3,190,906$26,040,754
94$38,671,389$6,229,105$3,182,769$28,459,761
95$42,497,215$6,415,675$3,170,735$31,119,237
96$46,709,537$6,607,650$3,154,561$34,043,553
97$51,347,660$6,805,175$3,133,989$37,259,564
98$56,454,896$7,008,403$3,108,752$40,796,861
99$62,078,967$7,217,486$3,078,567$44,688,050
100$68,272,462$7,432,583$3,043,139$48,969,058