Can I retire at age 64 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$87,534$86,754$85,993$85,251$84,526$83,194
2 years$43,334$42,527$41,744$40,986$40,250$38,912
3 years$28,602$27,792$27,011$26,260$25,537$24,233
4 years$21,238$20,430$19,657$18,919$18,213$16,955
5 years$16,820$16,017$15,255$14,532$13,845$12,636
6 years$13,876$13,079$12,328$11,621$10,955$9,796
7 years$11,774$10,984$10,245$9,554$8,909$7,801
8 years$10,199$9,415$8,688$8,015$7,391$6,333
9 years$8,974$8,198$7,483$6,827$6,225$5,216
10 years$7,994$7,226$6,524$5,885$5,304$4,344
11 years$7,193$6,433$5,744$5,122$4,561$3,650
12 years$6,526$5,774$5,097$4,492$3,953$3,088
13 years$5,963$5,218$4,554$3,966$3,447$2,628
14 years$5,480$4,743$4,092$3,521$3,021$2,247
15 years$5,062$4,333$3,695$3,140$2,660$1,929
16 years$4,696$3,975$3,350$2,811$2,351$1,661
17 years$4,374$3,661$3,048$2,526$2,085$1,434
18 years$4,088$3,383$2,782$2,276$1,854$1,242
19 years$3,832$3,135$2,547$2,057$1,652$1,077
20 years$3,603$2,913$2,338$1,863$1,476$936
21 years$3,395$2,714$2,150$1,691$1,321$814
22 years$3,206$2,533$1,982$1,537$1,184$709
23 years$3,035$2,369$1,830$1,400$1,063$619
24 years$2,877$2,220$1,692$1,277$955$540
25 years$2,733$2,083$1,567$1,166$859$472
26 years$2,600$1,958$1,454$1,066$774$413
27 years$2,477$1,843$1,350$976$698$361
28 years$2,363$1,736$1,255$894$630$316
29 years$2,256$1,638$1,168$820$569$277
30 years$2,158$1,547$1,088$753$514$243
31 years$2,065$1,462$1,014$691$465$213
32 years$1,979$1,384$946$635$420$186
33 years$1,898$1,310$883$584$380$163
34 years$1,822$1,242$825$537$344$143
35 years$1,751$1,178$772$495$312$126
36 years$1,684$1,118$722$456$283$110
37 years$1,620$1,062$676$420$256$97
38 years$1,560$1,009$633$387$232$85
39 years$1,503$960$593$357$211$75
40 years$1,449$913$556$329$191$66
41 years$1,398$869$521$304$173$58
42 years$1,350$828$489$280$157$51
43 years$1,303$789$459$259$143$44
44 years$1,259$752$430$239$130$39
45 years$1,218$717$404$221$118$34
46 years$1,178$684$380$204$107$30
47 years$1,140$653$357$188$97$26
48 years$1,103$623$335$174$88$23
49 years$1,068$595$315$161$80$20
50 years$1,035$568$296$149$73$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,060,000, adding $4,234 every year, while hoping to spend $56,472 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: 75/19/6 Blend
63$1,060,000$1,060,000$1,060,000$1,060,000
64$1,172,487$1,116,307$1,099,877$1,259,372
65$1,231,995$1,110,921$1,076,637$1,311,701
66$1,295,680$1,103,377$1,050,726$1,361,392
67$1,363,909$1,093,512$1,021,995$1,414,207
68$1,437,083$1,081,149$990,287$1,470,432
69$1,515,644$1,066,104$955,440$1,530,385
70$1,600,075$1,048,178$917,283$1,594,417
71$1,690,908$1,027,164$875,637$1,662,914
72$1,788,726$1,002,841$830,316$1,736,302
73$1,894,170$974,974$781,125$1,815,053
74$2,007,943$943,316$727,861$1,899,688
75$2,130,819$907,604$670,311$1,990,778
76$2,263,648$867,562$608,251$2,088,959
77$2,407,363$822,896$541,451$2,194,928
78$2,562,991$773,294$469,666$2,309,458
79$2,731,660$718,430$392,644$2,433,401
80$2,914,612$657,955$310,120$2,567,697
81$3,113,211$591,504$221,818$2,713,383
82$3,328,958$518,687$127,448$2,871,607
83$3,563,505$439,096$26,711$3,043,631
84$3,818,668$352,297$0$3,230,853
85$4,096,445$257,833$0$3,439,984
86$4,399,037$155,221$0$3,669,716
87$4,728,862$43,951$0$3,920,233
88$5,088,586$0$0$4,193,630
89$5,481,138$0$0$4,508,216
90$5,909,747$0$0$4,861,769
91$6,377,964$0$0$5,248,038
92$6,889,699$0$0$5,670,252
93$7,449,260$0$0$6,131,970
94$8,061,384$0$0$6,637,108
95$8,731,293$0$0$7,189,981
96$9,464,734$0$0$7,795,337
97$10,268,035$0$0$8,458,407
98$11,148,167$0$0$9,184,950
99$12,112,806$0$0$9,981,310
100$13,170,404$0$0$10,854,472