Can I retire at age 64 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$85,056$84,299$83,560$82,838$82,134$79,728
2 years$42,107$41,323$40,563$39,826$39,111$36,707
3 years$27,793$27,005$26,247$25,517$24,814$22,487
4 years$20,637$19,852$19,101$18,384$17,697$15,465
5 years$16,344$15,564$14,823$14,120$13,453$11,322
6 years$13,484$12,709$11,979$11,292$10,645$8,616
7 years$11,441$10,673$9,955$9,284$8,657$6,731
8 years$9,910$9,149$8,443$7,788$7,182$5,357
9 years$8,720$7,966$7,272$6,634$6,048$4,323
10 years$7,768$7,021$6,339$5,718$5,154$3,526
11 years$6,990$6,251$5,581$4,977$4,432$2,899
12 years$6,342$5,610$4,953$4,365$3,841$2,399
13 years$5,794$5,070$4,425$3,854$3,349$1,996
14 years$5,325$4,609$3,976$3,421$2,936$1,667
15 years$4,918$4,210$3,590$3,051$2,585$1,398
16 years$4,563$3,863$3,255$2,732$2,285$1,175
17 years$4,250$3,557$2,962$2,454$2,026$990
18 years$3,972$3,287$2,704$2,212$1,801$836
19 years$3,724$3,046$2,475$1,999$1,605$707
20 years$3,501$2,831$2,272$1,810$1,434$599
21 years$3,299$2,637$2,089$1,643$1,283$508
22 years$3,116$2,461$1,926$1,494$1,150$431
23 years$2,949$2,302$1,778$1,360$1,033$366
24 years$2,796$2,157$1,644$1,241$928$311
25 years$2,655$2,024$1,523$1,133$835$264
26 years$2,526$1,902$1,413$1,036$752$225
27 years$2,407$1,790$1,312$948$678$191
28 years$2,296$1,687$1,219$869$612$163
29 years$2,193$1,592$1,135$797$553$139
30 years$2,097$1,503$1,057$731$499$118
31 years$2,007$1,421$985$672$451$101
32 years$1,923$1,344$919$617$408$86
33 years$1,845$1,273$858$568$370$73
34 years$1,771$1,207$802$522$335$62
35 years$1,701$1,145$750$481$303$53
36 years$1,636$1,086$701$443$275$45
37 years$1,574$1,032$657$408$249$39
38 years$1,516$981$615$376$226$33
39 years$1,461$932$576$347$205$28
40 years$1,408$887$540$320$186$24
41 years$1,359$844$506$295$168$21
42 years$1,311$804$475$272$153$17
43 years$1,266$766$446$251$139$15
44 years$1,224$730$418$232$126$13
45 years$1,183$697$393$214$114$11
46 years$1,144$664$369$198$104$9
47 years$1,107$634$347$183$94$8
48 years$1,072$605$326$169$86$7
49 years$1,038$578$306$156$78$6
50 years$1,006$552$288$144$71$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,030,000, adding $2,820 every year, while hoping to spend $40,583 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: 45/43/12 Blend
63$1,030,000$1,030,000$1,030,000$1,030,000
64$1,137,969$1,083,379$1,067,414$1,185,173
65$1,210,862$1,093,284$1,059,992$1,228,140
66$1,289,829$1,102,315$1,050,962$1,270,350
67$1,375,449$1,110,385$1,040,226$1,315,217
68$1,468,354$1,117,404$1,027,683$1,363,002
69$1,569,243$1,123,274$1,013,227$1,413,993
70$1,678,883$1,127,891$996,747$1,468,512
71$1,798,118$1,131,146$978,127$1,526,912
72$1,927,876$1,132,923$957,245$1,589,587
73$2,069,180$1,133,096$933,973$1,656,972
74$2,223,153$1,131,535$908,178$1,729,548
75$2,391,034$1,128,099$879,721$1,807,848
76$2,574,183$1,122,641$848,456$1,892,464
77$2,774,101$1,115,001$814,230$1,984,049
78$2,992,437$1,105,014$776,884$2,083,325
79$3,231,008$1,092,501$736,252$2,191,093
80$3,491,813$1,077,276$692,159$2,308,240
81$3,777,054$1,059,139$644,423$2,435,743
82$4,089,156$1,037,880$592,853$2,574,688
83$4,430,788$1,013,274$537,252$2,726,272
84$4,804,890$985,085$477,411$2,891,821
85$5,214,697$953,063$413,113$3,072,801
86$5,663,776$916,943$344,132$3,270,831
87$6,156,052$876,444$270,231$3,487,702
88$6,695,849$831,270$191,164$3,725,396
89$7,287,930$781,106$106,672$3,986,100
90$7,937,540$725,621$16,486$4,272,232
91$8,650,456$664,464$0$4,586,466
92$9,433,044$597,264$0$4,941,964
93$10,292,313$523,628$0$5,334,694
94$11,235,986$443,143$0$5,766,186
95$12,272,571$355,371$0$6,240,459
96$13,411,438$259,849$0$6,761,953
97$14,662,912$156,089$0$7,335,568
98$16,038,367$43,576$0$7,966,710
99$17,550,333$0$0$8,661,347
100$19,212,616$0$0$9,463,086