Can I retire at age 64 with 1,020,000?

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 $1,020,000?

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$84,231$83,480$82,748$82,034$81,336$78,544
2 years$41,698$40,922$40,169$39,439$38,732$35,947
3 years$27,523$26,743$25,992$25,269$24,573$21,883
4 years$20,436$19,659$18,916$18,205$17,526$14,952
5 years$16,186$15,413$14,679$13,983$13,323$10,871
6 years$13,353$12,586$11,863$11,182$10,542$8,214
7 years$11,330$10,569$9,858$9,194$8,573$6,370
8 years$9,814$9,060$8,361$7,712$7,112$5,031
9 years$8,635$7,888$7,201$6,569$5,990$4,028
10 years$7,692$6,953$6,278$5,663$5,103$3,258
11 years$6,922$6,190$5,527$4,928$4,389$2,656
12 years$6,280$5,556$4,905$4,323$3,804$2,180
13 years$5,738$5,021$4,382$3,816$3,317$1,797
14 years$5,273$4,564$3,938$3,388$2,907$1,488
15 years$4,871$4,169$3,555$3,021$2,560$1,236
16 years$4,519$3,825$3,223$2,705$2,262$1,029
17 years$4,209$3,523$2,933$2,431$2,006$859
18 years$3,934$3,255$2,677$2,190$1,784$718
19 years$3,688$3,017$2,451$1,979$1,590$602
20 years$3,467$2,803$2,249$1,793$1,420$504
21 years$3,267$2,611$2,069$1,627$1,271$423
22 years$3,085$2,438$1,907$1,479$1,139$356
23 years$2,920$2,280$1,761$1,347$1,023$299
24 years$2,769$2,136$1,628$1,229$919$251
25 years$2,630$2,005$1,508$1,122$827$212
26 years$2,502$1,884$1,399$1,026$745$178
27 years$2,383$1,773$1,299$939$672$150
28 years$2,273$1,671$1,208$860$606$126
29 years$2,171$1,576$1,124$789$547$107
30 years$2,076$1,488$1,047$724$494$90
31 years$1,988$1,407$976$665$447$76
32 years$1,905$1,331$910$611$404$64
33 years$1,827$1,261$850$562$366$54
34 years$1,754$1,195$794$517$331$45
35 years$1,685$1,133$743$476$300$38
36 years$1,620$1,076$695$438$272$32
37 years$1,559$1,022$650$404$246$27
38 years$1,501$971$609$372$223$23
39 years$1,446$923$570$343$203$19
40 years$1,395$879$535$317$184$16
41 years$1,345$836$501$292$167$14
42 years$1,299$796$470$270$151$12
43 years$1,254$759$441$249$137$10
44 years$1,212$723$414$230$125$8
45 years$1,172$690$389$212$113$7
46 years$1,133$658$365$196$103$6
47 years$1,097$628$343$181$93$5
48 years$1,061$599$323$167$85$4
49 years$1,028$572$303$155$77$4
50 years$996$547$285$143$70$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,020,000, adding $3,579 every year, while hoping to spend $30,681 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: 80/12/8 Blend
63$1,020,000$1,020,000$1,020,000$1,020,000
64$1,127,732$1,073,672$1,057,862$1,216,493
65$1,210,116$1,093,637$1,060,656$1,295,144
66$1,299,875$1,113,553$1,062,515$1,377,029
67$1,397,729$1,133,384$1,063,376$1,465,960
68$1,504,470$1,153,092$1,063,172$1,562,625
69$1,620,970$1,172,638$1,061,832$1,667,783
70$1,748,189$1,191,977$1,059,283$1,782,268
71$1,887,183$1,211,063$1,055,448$1,906,999
72$2,039,116$1,229,845$1,050,246$2,042,989
73$2,205,269$1,248,270$1,043,592$2,191,354
74$2,387,052$1,266,281$1,035,398$2,353,322
75$2,586,017$1,283,814$1,025,569$2,530,246
76$2,803,874$1,300,804$1,014,009$2,723,618
77$3,042,506$1,317,181$1,000,616$2,935,081
78$3,303,987$1,332,868$985,281$3,166,444
79$3,590,599$1,347,785$967,894$3,419,701
80$3,904,859$1,361,845$948,338$3,697,048
81$4,249,536$1,374,957$926,488$4,000,907
82$4,627,681$1,387,022$902,218$4,333,944
83$5,042,655$1,397,936$875,393$4,699,098
84$5,498,159$1,407,588$845,871$5,099,607
85$5,998,271$1,415,859$813,508$5,539,037
86$6,547,482$1,422,624$778,147$6,021,322
87$7,150,740$1,427,748$739,630$6,550,793
88$7,813,496$1,431,088$697,789$7,132,223
89$8,541,755$1,432,493$652,447$7,770,873
90$9,342,131$1,431,803$603,421$8,472,540
91$10,221,914$1,428,846$550,521$9,243,611
92$11,189,130$1,423,441$493,545$10,091,126
93$12,252,628$1,415,396$432,284$11,022,842
94$13,422,151$1,404,505$366,521$12,047,306
95$14,708,438$1,390,554$296,028$13,173,940
96$16,123,319$1,373,312$220,565$14,413,125
97$17,679,829$1,352,535$139,885$15,776,300
98$19,392,328$1,327,966$53,728$17,276,073
99$21,276,641$1,299,331$0$18,926,338
100$23,350,201$1,266,342$0$20,745,668