Can I retire at age 64 with 2,740,000?

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 $2,740,000?

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$226,267$224,251$222,285$220,366$218,491$213,818
2 years$112,013$109,927$107,905$105,945$104,044$99,358
3 years$73,934$71,839$69,822$67,880$66,010$61,458
4 years$54,898$52,809$50,812$48,904$47,079$42,696
5 years$43,479$41,403$39,433$37,563$35,788$31,587
6 years$35,869$33,809$31,867$30,039$28,318$24,303
7 years$30,436$28,392$26,482$24,697$23,030$19,202
8 years$26,362$24,337$22,459$20,718$19,106$15,463
9 years$23,196$21,190$19,344$17,647$16,090$12,630
10 years$20,664$18,678$16,864$15,212$13,709$10,429
11 years$18,594$16,628$14,847$13,239$11,790$8,685
12 years$16,870$14,924$13,176$11,612$10,217$7,282
13 years$15,413$13,487$11,772$10,252$8,910$6,140
14 years$14,165$12,260$10,577$9,100$7,810$5,200
15 years$13,084$11,199$9,550$8,116$6,877$4,421
16 years$12,139$10,275$8,658$7,267$6,078$3,770
17 years$11,307$9,463$7,879$6,529$5,389$3,223
18 years$10,567$8,744$7,192$5,884$4,792$2,762
19 years$9,906$8,104$6,584$5,317$4,271$2,371
20 years$9,312$7,531$6,043$4,815$3,815$2,038
21 years$8,776$7,015$5,558$4,370$3,414$1,755
22 years$8,288$6,548$5,123$3,974$3,060$1,512
23 years$7,844$6,124$4,730$3,619$2,747$1,305
24 years$7,438$5,738$4,374$3,301$2,469$1,127
25 years$7,064$5,385$4,052$3,014$2,222$974
26 years$6,720$5,061$3,758$2,756$2,001$842
27 years$6,402$4,763$3,489$2,523$1,804$728
28 years$6,107$4,488$3,244$2,311$1,628$630
29 years$5,833$4,234$3,019$2,120$1,470$546
30 years$5,577$3,998$2,812$1,945$1,328$473
31 years$5,339$3,780$2,621$1,787$1,201$410
32 years$5,116$3,576$2,446$1,642$1,086$355
33 years$4,907$3,387$2,284$1,510$983$308
34 years$4,711$3,210$2,134$1,389$890$267
35 years$4,526$3,045$1,995$1,279$806$231
36 years$4,352$2,890$1,866$1,178$730$201
37 years$4,187$2,745$1,747$1,085$662$174
38 years$4,032$2,608$1,636$1,000$600$151
39 years$3,885$2,480$1,532$922$544$131
40 years$3,746$2,360$1,436$851$494$114
41 years$3,614$2,246$1,347$785$448$99
42 years$3,488$2,139$1,263$724$406$86
43 years$3,369$2,038$1,185$669$369$74
44 years$3,256$1,943$1,113$617$335$64
45 years$3,147$1,853$1,045$570$304$56
46 years$3,044$1,768$981$527$276$48
47 years$2,946$1,687$922$487$251$42
48 years$2,851$1,610$866$450$228$37
49 years$2,761$1,538$814$416$207$32
50 years$2,675$1,469$766$384$188$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,740,000, adding $5,907 every year, while hoping to spend $45,514 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: 65/26/9 Blend
63$2,740,000$2,740,000$2,740,000$2,740,000
64$3,025,573$2,880,353$2,837,883$3,216,271
65$3,285,755$2,973,064$2,884,526$3,436,738
66$3,570,950$3,068,792$2,931,205$3,671,599
67$3,883,661$3,167,637$2,977,875$3,927,023
68$4,226,646$3,269,703$3,024,485$4,205,009
69$4,602,942$3,375,096$3,070,983$4,507,757
70$5,015,892$3,483,926$3,117,311$4,837,686
71$5,469,182$3,596,307$3,163,410$5,197,463
72$5,966,870$3,712,358$3,209,216$5,590,020
73$6,513,427$3,832,200$3,254,661$6,018,587
74$7,113,778$3,955,959$3,299,674$6,486,720
75$7,773,349$4,083,766$3,344,178$6,998,333
76$8,498,115$4,215,755$3,388,092$7,557,737
77$9,294,661$4,352,066$3,431,332$8,169,679
78$10,170,243$4,492,843$3,473,808$8,839,386
79$11,132,850$4,638,235$3,515,423$9,572,614
80$12,191,289$4,788,397$3,556,078$10,375,704
81$13,355,260$4,943,487$3,595,665$11,255,637
82$14,635,449$5,103,671$3,634,074$12,220,103
83$16,043,634$5,269,120$3,671,184$13,277,575
84$17,592,788$5,440,010$3,706,872$14,437,380
85$19,297,206$5,616,524$3,741,005$15,709,798
86$21,172,637$5,798,850$3,773,446$17,106,147
87$23,236,437$5,987,185$3,804,047$18,638,900
88$25,507,727$6,181,730$3,832,656$20,321,794
89$28,007,575$6,382,695$3,859,110$22,169,962
90$30,759,196$6,590,296$3,883,238$24,200,077
91$33,788,171$6,804,757$3,904,863$26,430,507
92$37,122,684$7,026,310$3,923,796$28,881,487
93$40,793,794$7,255,194$3,939,839$31,575,310
94$44,835,721$7,491,659$3,952,784$34,536,538
95$49,286,176$7,735,961$3,962,413$37,792,233
96$54,186,708$7,988,366$3,968,497$41,372,209
97$59,583,106$8,249,149$3,970,795$45,309,315
98$65,525,820$8,518,596$3,969,054$49,639,746
99$72,070,447$8,797,000$3,963,010$54,403,380
100$79,278,247$9,084,667$3,952,385$59,644,157