Can I retire at age 64 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$241,131$238,983$236,887$234,842$232,845$224,852
2 years$119,372$117,149$114,994$112,905$110,879$102,907
3 years$78,791$76,558$74,409$72,339$70,346$62,646
4 years$58,504$56,278$54,150$52,116$50,171$42,803
5 years$46,335$44,123$42,023$40,030$38,139$31,121
6 years$38,225$36,030$33,961$32,013$30,178$23,516
7 years$32,435$30,258$28,222$26,319$24,543$18,235
8 years$28,094$25,936$23,934$22,079$20,361$14,403
9 years$24,720$22,582$20,614$18,806$17,147$11,531
10 years$22,022$19,905$17,972$16,211$14,610$9,327
11 years$19,816$17,720$15,822$14,108$12,565$7,605
12 years$17,979$15,905$14,042$12,375$10,889$6,239
13 years$16,425$14,373$12,546$10,925$9,495$5,145
14 years$15,095$13,065$11,272$9,698$8,323$4,259
15 years$13,944$11,935$10,177$8,649$7,329$3,538
16 years$12,937$10,950$9,227$7,744$6,477$2,946
17 years$12,049$10,085$8,396$6,958$5,743$2,459
18 years$11,261$9,319$7,665$6,271$5,106$2,056
19 years$10,557$8,637$7,017$5,666$4,551$1,722
20 years$9,924$8,025$6,440$5,132$4,065$1,444
21 years$9,352$7,475$5,923$4,657$3,638$1,212
22 years$8,833$6,978$5,459$4,235$3,261$1,018
23 years$8,360$6,526$5,041$3,857$2,927$856
24 years$7,926$6,115$4,662$3,517$2,631$720
25 years$7,528$5,738$4,318$3,212$2,368$606
26 years$7,161$5,393$4,004$2,937$2,133$510
27 years$6,822$5,076$3,718$2,688$1,923$430
28 years$6,508$4,783$3,457$2,463$1,735$362
29 years$6,216$4,512$3,217$2,259$1,567$305
30 years$5,944$4,261$2,996$2,073$1,416$257
31 years$5,690$4,028$2,793$1,904$1,280$217
32 years$5,452$3,811$2,606$1,750$1,158$183
33 years$5,229$3,609$2,434$1,609$1,048$154
34 years$5,020$3,421$2,274$1,480$949$130
35 years$4,823$3,245$2,126$1,363$859$110
36 years$4,638$3,080$1,989$1,255$778$93
37 years$4,463$2,925$1,861$1,156$706$78
38 years$4,297$2,780$1,743$1,066$640$66
39 years$4,140$2,643$1,633$983$580$56
40 years$3,992$2,515$1,531$907$526$47
41 years$3,851$2,394$1,435$836$477$40
42 years$3,718$2,280$1,346$772$433$33
43 years$3,590$2,172$1,263$713$393$28
44 years$3,469$2,071$1,186$658$357$24
45 years$3,354$1,975$1,113$608$324$20
46 years$3,244$1,884$1,046$561$294$17
47 years$3,139$1,798$983$519$267$14
48 years$3,039$1,716$923$479$243$12
49 years$2,943$1,639$868$443$220$10
50 years$2,851$1,565$816$409$200$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $2,920,000, adding $5,444 every year, while hoping to spend $42,909 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: 65/19/16 Blend
63$2,920,000$2,920,000$2,920,000$2,920,000
64$3,223,455$3,068,695$3,023,435$3,420,083
65$3,506,593$3,173,407$3,079,066$3,657,115
66$3,817,173$3,281,811$3,135,121$3,910,575
67$4,157,948$3,394,043$3,191,572$4,186,496
68$4,531,952$3,510,245$3,248,383$4,487,074
69$4,942,526$3,630,562$3,305,519$4,814,724
70$5,393,351$3,755,146$3,362,941$5,172,108
71$5,888,480$3,884,156$3,420,607$5,562,154
72$6,432,381$4,017,755$3,478,472$5,988,086
73$7,029,972$4,156,114$3,536,490$6,453,456
74$7,686,675$4,299,409$3,594,608$6,962,171
75$8,408,460$4,447,824$3,652,771$7,518,539
76$9,201,906$4,601,551$3,710,922$8,127,298
77$10,074,261$4,760,787$3,768,999$8,793,670
78$11,033,509$4,925,739$3,826,934$9,523,406
79$12,088,449$5,096,622$3,884,658$10,322,837
80$13,248,772$5,273,658$3,942,095$11,198,939
81$14,525,158$5,457,079$3,999,167$12,159,395
82$15,929,374$5,647,125$4,055,789$13,212,667
83$17,474,383$5,844,047$4,111,870$14,368,077
84$19,174,469$6,048,105$4,167,318$15,635,892
85$21,045,372$6,259,569$4,222,030$17,027,423
86$23,104,433$6,478,721$4,275,901$18,555,133
87$25,370,760$6,705,853$4,328,818$20,232,746
88$27,865,407$6,941,269$4,380,663$22,075,386
89$30,611,573$7,185,286$4,431,309$24,099,712
90$33,634,820$7,438,232$4,480,625$26,324,079
91$36,963,316$7,700,450$4,528,471$28,768,708
92$40,628,098$7,972,295$4,574,698$31,455,877
93$44,663,365$8,254,138$4,619,151$34,410,133
94$49,106,802$8,546,365$4,661,667$37,658,518
95$53,999,934$8,849,375$4,702,071$41,230,829
96$59,388,519$9,163,587$4,740,182$45,159,896
97$65,322,979$9,489,433$4,775,809$49,481,890
98$71,858,874$9,827,367$4,808,750$54,236,666
99$79,057,428$10,177,856$4,838,792$59,468,138
100$86,986,106$10,541,392$4,865,712$65,224,693