Can I retire at age 64 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$86,708$85,936$85,182$84,447$83,728$80,629
2 years$42,925$42,125$41,351$40,599$39,871$36,784
3 years$28,332$27,529$26,757$26,012$25,296$22,317
4 years$21,037$20,237$19,472$18,740$18,041$15,194
5 years$16,662$15,866$15,111$14,394$13,715$11,007
6 years$13,745$12,956$12,212$11,511$10,852$8,285
7 years$11,663$10,880$10,148$9,464$8,825$6,399
8 years$10,102$9,326$8,606$7,939$7,322$5,033
9 years$8,889$8,120$7,413$6,762$6,166$4,012
10 years$7,919$7,158$6,463$5,829$5,254$3,231
11 years$7,125$6,372$5,690$5,073$4,518$2,623
12 years$6,465$5,719$5,049$4,450$3,915$2,142
13 years$5,906$5,168$4,511$3,929$3,414$1,758
14 years$5,428$4,698$4,053$3,487$2,993$1,448
15 years$5,014$4,292$3,660$3,110$2,635$1,197
16 years$4,652$3,938$3,318$2,785$2,329$992
17 years$4,333$3,626$3,019$2,502$2,065$823
18 years$4,049$3,351$2,756$2,255$1,836$685
19 years$3,796$3,106$2,523$2,037$1,637$571
20 years$3,569$2,886$2,316$1,845$1,462$476
21 years$3,363$2,688$2,130$1,675$1,308$397
22 years$3,176$2,509$1,963$1,523$1,173$332
23 years$3,006$2,347$1,813$1,387$1,053$277
24 years$2,850$2,199$1,676$1,265$946$232
25 years$2,707$2,063$1,553$1,155$851$194
26 years$2,575$1,939$1,440$1,056$767$163
27 years$2,453$1,825$1,337$967$691$136
28 years$2,340$1,720$1,243$886$624$114
29 years$2,235$1,622$1,157$812$563$96
30 years$2,137$1,532$1,077$745$509$80
31 years$2,046$1,448$1,004$685$460$67
32 years$1,961$1,371$937$629$416$56
33 years$1,880$1,298$875$579$377$47
34 years$1,805$1,230$818$532$341$40
35 years$1,734$1,167$764$490$309$33
36 years$1,668$1,107$715$451$280$28
37 years$1,605$1,052$669$416$254$23
38 years$1,545$1,000$627$383$230$20
39 years$1,489$951$587$353$209$16
40 years$1,436$904$550$326$189$14
41 years$1,385$861$516$301$172$12
42 years$1,337$820$484$278$156$10
43 years$1,291$781$454$256$141$8
44 years$1,248$745$426$237$128$7
45 years$1,206$710$400$218$116$6
46 years$1,167$677$376$202$106$5
47 years$1,129$646$353$186$96$4
48 years$1,093$617$332$172$87$3
49 years$1,058$589$312$159$79$3
50 years$1,025$563$293$147$72$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,050,000, adding $2,003 every year, while hoping to spend $23,288 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: 59/24/17 Blend
63$1,050,000$1,050,000$1,050,000$1,050,000
64$1,159,166$1,103,516$1,087,241$1,222,350
65$1,252,623$1,132,810$1,098,885$1,294,619
66$1,354,832$1,162,759$1,110,139$1,370,651
67$1,466,660$1,193,370$1,120,965$1,453,031
68$1,589,066$1,224,651$1,131,323$1,542,376
69$1,723,099$1,256,608$1,141,171$1,639,364
70$1,869,921$1,289,247$1,150,466$1,744,744
71$2,030,807$1,322,575$1,159,161$1,859,337
72$2,207,163$1,356,595$1,167,207$1,984,052
73$2,400,538$1,391,312$1,174,552$2,119,886
74$2,612,636$1,426,730$1,181,143$2,267,941
75$2,845,337$1,462,852$1,186,924$2,429,428
76$3,100,709$1,499,679$1,191,833$2,605,683
77$3,381,031$1,537,213$1,195,809$2,798,176
78$3,688,814$1,575,454$1,198,786$3,008,529
79$4,026,822$1,614,400$1,200,695$3,238,526
80$4,398,102$1,654,050$1,201,463$3,490,136
81$4,806,010$1,694,400$1,201,013$3,765,526
82$5,254,243$1,735,445$1,199,267$4,067,084
83$5,746,873$1,777,179$1,196,139$4,397,442
84$6,288,387$1,819,594$1,191,543$4,759,500
85$6,883,728$1,862,680$1,185,386$5,156,454
86$7,538,343$1,906,426$1,177,571$5,591,825
87$8,258,232$1,950,819$1,167,997$6,069,492
88$9,050,005$1,995,843$1,156,558$6,593,733
89$9,920,946$2,041,479$1,143,144$7,169,258
90$10,879,080$2,087,710$1,127,637$7,801,259
91$11,933,249$2,134,510$1,109,915$8,495,459
92$13,093,195$2,181,856$1,089,852$9,258,164
93$14,369,653$2,229,718$1,067,314$10,096,321
94$15,774,449$2,278,066$1,042,160$11,017,588
95$17,320,616$2,326,864$1,014,245$12,030,404
96$19,022,512$2,376,074$983,416$13,144,070
97$20,895,961$2,425,654$949,513$14,368,833
98$22,958,395$2,475,558$912,368$15,715,988
99$25,229,026$2,525,735$871,807$17,197,981
100$27,729,021$2,576,130$827,647$18,828,531