Can I retire at age 64 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$238,653$236,528$234,454$232,429$230,453$227,762
2 years$118,145$115,945$113,812$111,745$109,739$107,031
3 years$77,981$75,771$73,644$71,596$69,623$66,981
4 years$57,903$55,700$53,594$51,581$49,656$47,101
5 years$45,859$43,669$41,591$39,619$37,748$35,287
6 years$37,833$35,659$33,612$31,684$29,868$27,505
7 years$32,102$29,947$27,932$26,049$24,291$22,026
8 years$27,805$25,670$23,688$21,852$20,152$17,985
9 years$24,466$22,350$20,403$18,613$16,971$14,901
10 years$21,795$19,701$17,788$16,044$14,460$12,486
11 years$19,612$17,538$15,660$13,964$12,436$10,556
12 years$17,794$15,741$13,898$12,248$10,777$8,989
13 years$16,257$14,226$12,417$10,813$9,398$7,699
14 years$14,940$12,931$11,156$9,599$8,238$6,627
15 years$13,800$11,812$10,073$8,560$7,253$5,727
16 years$12,804$10,838$9,132$7,665$6,410$4,967
17 years$11,925$9,981$8,310$6,887$5,684$4,320
18 years$11,146$9,223$7,586$6,206$5,054$3,766
19 years$10,449$8,548$6,945$5,608$4,505$3,290
20 years$9,822$7,943$6,374$5,079$4,024$2,880
21 years$9,256$7,399$5,862$4,610$3,601$2,525
22 years$8,742$6,906$5,403$4,191$3,228$2,217
23 years$8,274$6,459$4,989$3,817$2,897$1,948
24 years$7,845$6,052$4,614$3,481$2,604$1,714
25 years$7,451$5,679$4,273$3,179$2,343$1,510
26 years$7,088$5,338$3,963$2,907$2,111$1,331
27 years$6,752$5,024$3,680$2,661$1,903$1,174
28 years$6,441$4,734$3,421$2,438$1,717$1,036
29 years$6,152$4,466$3,184$2,236$1,551$914
30 years$5,883$4,217$2,966$2,052$1,401$808
31 years$5,631$3,987$2,765$1,884$1,267$714
32 years$5,396$3,772$2,580$1,732$1,146$631
33 years$5,176$3,572$2,409$1,593$1,037$558
34 years$4,968$3,386$2,250$1,465$939$494
35 years$4,774$3,211$2,104$1,349$850$437
36 years$4,590$3,048$1,968$1,242$770$387
37 years$4,417$2,895$1,842$1,145$698$342
38 years$4,253$2,751$1,725$1,055$633$303
39 years$4,098$2,616$1,616$973$574$268
40 years$3,951$2,489$1,515$897$521$238
41 years$3,812$2,369$1,421$828$472$210
42 years$3,679$2,257$1,332$764$429$186
43 years$3,554$2,150$1,250$705$389$165
44 years$3,434$2,049$1,174$651$353$146
45 years$3,320$1,954$1,102$601$321$130
46 years$3,211$1,864$1,035$555$291$115
47 years$3,107$1,779$972$513$264$102
48 years$3,007$1,698$914$474$240$90
49 years$2,913$1,622$859$438$218$80
50 years$2,822$1,549$808$405$198$71

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,890,000, adding $6,981 every year, while hoping to spend $21,354 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: 54/35/11 Blend
63$2,890,000$2,890,000$2,890,000$2,890,000
64$3,191,981$3,038,811$2,994,016$3,355,011
65$3,494,842$3,164,992$3,071,595$3,592,657
66$3,827,880$3,296,641$3,151,057$3,848,264
67$4,194,150$3,434,002$3,232,443$4,125,964
68$4,597,017$3,577,332$3,315,794$4,427,859
69$5,040,191$3,726,900$3,401,152$4,756,261
70$5,527,759$3,882,986$3,488,559$5,113,708
71$6,064,223$4,045,885$3,578,058$5,502,994
72$6,654,544$4,215,904$3,669,694$5,927,188
73$7,304,189$4,393,364$3,763,510$6,389,666
74$8,019,181$4,578,603$3,859,551$6,894,142
75$8,806,155$4,771,973$3,957,864$7,444,698
76$9,672,425$4,973,842$4,058,495$8,045,829
77$10,626,048$5,184,595$4,161,490$8,702,474
78$11,675,902$5,404,637$4,266,897$9,420,072
79$12,831,769$5,634,390$4,374,763$10,204,603
80$14,104,431$5,874,297$4,485,139$11,062,652
81$15,505,764$6,124,819$4,598,073$12,001,462
82$17,048,858$6,386,441$4,713,614$13,029,006
83$18,748,135$6,659,669$4,831,813$14,154,057
84$20,619,487$6,945,036$4,952,722$15,386,274
85$22,680,427$7,243,095$5,076,390$16,736,287
86$24,950,252$7,554,428$5,202,871$18,215,801
87$27,450,227$7,879,644$5,332,216$19,837,698
88$30,203,783$8,219,379$5,464,478$21,616,161
89$33,236,741$8,574,301$5,599,710$23,566,808
90$36,577,554$8,945,108$5,737,966$25,706,833
91$40,257,577$9,332,530$5,879,300$28,055,168
92$44,311,358$9,737,332$6,023,765$30,632,661
93$48,776,972$10,160,317$6,171,416$33,462,269
94$53,696,373$10,602,322$6,322,309$36,569,272
95$59,115,793$11,064,226$6,476,496$39,981,511
96$65,086,180$11,546,949$6,634,035$43,729,648
97$71,663,674$12,051,454$6,794,979$47,847,451
98$78,910,142$12,578,748$6,959,384$52,372,112
99$86,893,758$13,129,888$7,127,304$57,344,594
100$95,689,648$13,705,979$7,298,796$62,810,017