Can I retire at age 64 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$233,699$231,617$229,586$227,604$225,668$219,767
2 years$115,692$113,538$111,450$109,425$107,461$101,556
3 years$76,362$74,198$72,115$70,110$68,178$62,453
4 years$56,701$54,544$52,481$50,510$48,625$43,125
5 years$44,907$42,763$40,728$38,797$36,964$31,704
6 years$37,047$34,919$32,914$31,026$29,248$24,234
7 years$31,435$29,325$27,352$25,508$23,787$19,018
8 years$27,228$25,137$23,196$21,398$19,733$15,208
9 years$23,958$21,886$19,979$18,226$16,618$12,332
10 years$21,343$19,292$17,418$15,711$14,160$10,107
11 years$19,205$17,174$15,335$13,674$12,178$8,353
12 years$17,424$15,415$13,609$11,994$10,553$6,949
13 years$15,919$13,930$12,159$10,589$9,202$5,812
14 years$14,630$12,662$10,925$9,399$8,067$4,882
15 years$13,514$11,567$9,864$8,383$7,103$4,116
16 years$12,538$10,613$8,943$7,506$6,277$3,480
17 years$11,678$9,774$8,138$6,744$5,566$2,950
18 years$10,914$9,032$7,429$6,077$4,949$2,505
19 years$10,232$8,370$6,801$5,492$4,411$2,131
20 years$9,618$7,778$6,241$4,974$3,940$1,816
21 years$9,064$7,245$5,741$4,514$3,526$1,549
22 years$8,561$6,763$5,291$4,104$3,160$1,323
23 years$8,102$6,325$4,885$3,738$2,837$1,131
24 years$7,682$5,926$4,518$3,409$2,550$967
25 years$7,296$5,562$4,185$3,113$2,295$828
26 years$6,941$5,227$3,881$2,847$2,067$709
27 years$6,612$4,919$3,604$2,606$1,863$607
28 years$6,307$4,635$3,350$2,387$1,681$520
29 years$6,024$4,373$3,118$2,189$1,518$446
30 years$5,761$4,130$2,904$2,009$1,372$383
31 years$5,514$3,904$2,707$1,845$1,240$328
32 years$5,284$3,694$2,526$1,696$1,122$282
33 years$5,068$3,498$2,359$1,559$1,015$242
34 years$4,865$3,316$2,204$1,435$919$207
35 years$4,674$3,145$2,060$1,321$833$178
36 years$4,495$2,985$1,927$1,216$754$153
37 years$4,325$2,835$1,804$1,121$684$131
38 years$4,165$2,694$1,689$1,033$620$113
39 years$4,013$2,562$1,583$953$562$97
40 years$3,869$2,437$1,483$879$510$83
41 years$3,733$2,320$1,391$811$463$71
42 years$3,603$2,210$1,305$748$420$61
43 years$3,480$2,105$1,224$691$381$53
44 years$3,362$2,007$1,149$638$346$45
45 years$3,251$1,914$1,079$589$314$39
46 years$3,144$1,826$1,014$544$285$33
47 years$3,042$1,742$952$503$259$29
48 years$2,945$1,663$895$464$235$25
49 years$2,852$1,588$841$429$213$21
50 years$2,763$1,517$791$397$194$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,830,000, adding $3,917 every year, while hoping to spend $53,795 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: 81/5/14 Blend
63$2,830,000$2,830,000$2,830,000$2,830,000
64$3,122,700$2,972,710$2,928,845$3,366,715
65$3,383,978$3,061,136$2,969,724$3,615,990
66$3,670,104$3,152,091$3,010,170$3,882,176
67$3,983,554$3,245,643$3,050,110$4,172,821
68$4,327,058$3,341,861$3,089,470$4,490,353
69$4,703,621$3,440,815$3,128,170$4,837,448
70$5,116,551$3,542,576$3,166,125$5,217,050
71$5,569,496$3,647,219$3,203,247$5,632,406
72$6,066,469$3,754,817$3,239,440$6,087,089
73$6,611,893$3,865,447$3,274,605$6,585,037
74$7,210,639$3,979,188$3,308,638$7,130,588
75$7,868,075$4,096,118$3,341,427$7,728,519
76$8,590,110$4,216,319$3,372,857$8,384,095
77$9,383,256$4,339,874$3,402,803$9,103,114
78$10,254,688$4,466,867$3,431,136$9,891,967
79$11,212,307$4,597,385$3,457,721$10,757,691
80$12,264,821$4,731,515$3,482,412$11,708,043
81$13,421,819$4,869,346$3,505,060$12,751,567
82$14,693,870$5,010,970$3,525,505$13,897,678
83$16,092,616$5,156,478$3,543,580$15,156,747
84$17,630,883$5,305,965$3,559,110$16,540,206
85$19,322,803$5,459,528$3,571,910$18,060,645
86$21,183,946$5,617,262$3,581,786$19,731,942
87$23,231,467$5,779,267$3,588,535$21,569,385
88$25,484,269$5,945,643$3,591,943$23,589,820
89$27,963,177$6,116,492$3,591,786$25,811,811
90$30,691,138$6,291,917$3,587,828$28,255,813
91$33,693,436$6,472,023$3,579,822$30,944,364
92$36,997,931$6,656,916$3,567,510$33,902,301
93$40,635,318$6,846,704$3,550,620$37,156,990
94$44,639,423$7,041,494$3,528,868$40,738,589
95$49,047,514$7,241,397$3,501,955$44,680,328
96$53,900,659$7,446,524$3,469,569$49,018,825
97$59,244,109$7,656,986$3,431,382$53,794,432
98$65,127,726$7,872,897$3,387,052$59,051,614
99$71,606,456$8,094,370$3,336,220$64,839,369
100$78,740,840$8,321,520$3,278,509$71,211,692