Can I retire at age 64 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$85,882$85,117$84,371$83,642$82,931$82,202
2 years$42,516$41,724$40,957$40,213$39,491$38,756
3 years$28,062$27,267$26,502$25,765$25,055$24,337
4 years$20,837$20,044$19,286$18,562$17,869$17,174
5 years$16,503$15,715$14,967$14,257$13,584$12,914
6 years$13,615$12,832$12,096$11,402$10,748$10,104
7 years$11,552$10,777$10,052$9,374$8,741$8,123
8 years$10,006$9,238$8,524$7,864$7,252$6,659
9 years$8,804$8,043$7,342$6,698$6,107$5,540
10 years$7,843$7,089$6,401$5,774$5,204$4,662
11 years$7,058$6,311$5,635$5,025$4,475$3,958
12 years$6,403$5,665$5,001$4,408$3,878$3,386
13 years$5,850$5,119$4,468$3,891$3,382$2,913
14 years$5,376$4,653$4,015$3,454$2,964$2,519
15 years$4,966$4,251$3,625$3,081$2,610$2,187
16 years$4,608$3,900$3,286$2,758$2,307$1,906
17 years$4,292$3,592$2,991$2,478$2,045$1,666
18 years$4,011$3,319$2,730$2,233$1,819$1,460
19 years$3,760$3,076$2,499$2,018$1,621$1,282
20 years$3,535$2,858$2,294$1,828$1,448$1,128
21 years$3,331$2,662$2,110$1,659$1,296$994
22 years$3,146$2,485$1,944$1,508$1,161$877
23 years$2,977$2,324$1,795$1,374$1,043$775
24 years$2,823$2,178$1,660$1,253$937$686
25 years$2,681$2,044$1,538$1,144$843$607
26 years$2,551$1,921$1,426$1,046$760$538
27 years$2,430$1,808$1,324$958$685$477
28 years$2,318$1,703$1,231$877$618$423
29 years$2,214$1,607$1,146$805$558$376
30 years$2,117$1,518$1,067$738$504$334
31 years$2,027$1,435$995$678$456$297
32 years$1,942$1,357$928$623$412$264
33 years$1,862$1,286$867$573$373$235
34 years$1,788$1,218$810$527$338$209
35 years$1,718$1,156$757$485$306$186
36 years$1,652$1,097$708$447$277$166
37 years$1,589$1,042$663$412$251$147
38 years$1,530$990$621$380$228$131
39 years$1,475$941$582$350$207$117
40 years$1,422$896$545$323$187$104
41 years$1,372$853$511$298$170$93
42 years$1,324$812$480$275$154$83
43 years$1,279$774$450$254$140$74
44 years$1,236$738$422$234$127$66
45 years$1,195$703$397$216$115$59
46 years$1,155$671$372$200$105$52
47 years$1,118$640$350$185$95$47
48 years$1,082$611$329$171$86$42
49 years$1,048$584$309$158$78$37
50 years$1,015$558$291$146$71$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,040,000, adding $4,783 every year, while hoping to spend $26,229 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: 83/5/12 Blend
63$1,040,000$1,040,000$1,040,000$1,040,000
64$1,151,014$1,095,894$1,079,774$1,243,730
65$1,240,510$1,121,685$1,088,039$1,330,959
66$1,338,255$1,147,861$1,095,701$1,422,766
67$1,445,064$1,174,413$1,102,714$1,522,805
68$1,561,832$1,201,330$1,109,026$1,631,887
69$1,689,545$1,228,602$1,114,585$1,750,909
70$1,829,290$1,256,215$1,119,335$1,880,857
71$1,982,262$1,284,154$1,123,218$2,022,815
72$2,149,779$1,312,404$1,126,171$2,177,980
73$2,333,290$1,340,945$1,128,132$2,347,670
74$2,534,393$1,369,759$1,129,031$2,533,336
75$2,754,846$1,398,822$1,128,799$2,736,577
76$2,996,586$1,428,110$1,127,360$2,959,154
77$3,261,748$1,457,597$1,124,636$3,203,008
78$3,552,680$1,487,254$1,120,546$3,470,277
79$3,871,972$1,517,048$1,115,003$3,763,316
80$4,222,475$1,546,945$1,107,917$4,084,720
81$4,607,329$1,576,907$1,099,194$4,437,348
82$5,029,995$1,606,893$1,088,735$4,824,350
83$5,494,283$1,636,860$1,076,436$5,249,198
84$6,004,392$1,666,758$1,062,188$5,715,715
85$6,564,947$1,696,537$1,045,879$6,228,117
86$7,181,044$1,726,140$1,027,389$6,791,045
87$7,858,298$1,755,507$1,006,593$7,409,616
88$8,602,892$1,784,575$983,362$8,089,468
89$9,421,640$1,813,272$957,558$8,836,813
90$10,322,050$1,841,526$929,039$9,658,496
91$11,312,394$1,869,255$897,656$10,562,060
92$12,401,783$1,896,373$863,253$11,555,816
93$13,600,259$1,922,790$825,666$12,648,923
94$14,918,885$1,948,406$784,725$13,851,475
95$16,369,850$1,973,117$740,252$15,174,592
96$17,966,584$1,996,809$692,060$16,630,529
97$19,723,886$2,019,363$639,954$18,232,794
98$21,658,061$2,040,650$583,731$19,996,266
99$23,787,076$2,060,534$523,179$21,937,347
100$26,130,726$2,078,869$458,074$24,074,107