Can I retire at age 64 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$88,360$87,573$86,805$86,055$85,323$84,538
2 years$43,742$42,928$42,138$41,373$40,630$39,839
3 years$28,872$28,054$27,266$26,508$25,777$25,005
4 years$21,438$20,622$19,843$19,097$18,385$17,636
5 years$16,979$16,168$15,399$14,669$13,976$13,254
6 years$14,007$13,203$12,445$11,731$11,059$10,365
7 years$11,885$11,088$10,341$9,644$8,994$8,328
8 years$10,295$9,504$8,770$8,090$7,461$6,823
9 years$9,058$8,275$7,554$6,891$6,283$5,673
10 years$8,070$7,294$6,586$5,940$5,354$4,771
11 years$7,261$6,493$5,798$5,170$4,604$4,049
12 years$6,588$5,828$5,146$4,535$3,990$3,461
13 years$6,019$5,267$4,597$4,003$3,479$2,976
14 years$5,531$4,788$4,131$3,554$3,050$2,572
15 years$5,109$4,373$3,729$3,169$2,685$2,231
16 years$4,741$4,013$3,381$2,838$2,373$1,943
17 years$4,415$3,695$3,077$2,550$2,104$1,697
18 years$4,127$3,415$2,809$2,298$1,871$1,486
19 years$3,869$3,165$2,571$2,076$1,668$1,304
20 years$3,637$2,941$2,360$1,880$1,490$1,146
21 years$3,427$2,739$2,171$1,707$1,333$1,010
22 years$3,237$2,557$2,000$1,552$1,195$890
23 years$3,063$2,392$1,847$1,413$1,073$786
24 years$2,904$2,241$1,708$1,289$964$695
25 years$2,759$2,103$1,582$1,177$868$615
26 years$2,624$1,976$1,467$1,076$781$544
27 years$2,500$1,860$1,363$985$705$482
28 years$2,385$1,753$1,267$903$636$428
29 years$2,278$1,653$1,179$828$574$380
30 years$2,178$1,561$1,098$760$519$337
31 years$2,085$1,476$1,024$698$469$299
32 years$1,998$1,397$955$641$424$266
33 years$1,916$1,323$892$590$384$236
34 years$1,840$1,254$833$543$348$210
35 years$1,767$1,189$779$499$315$187
36 years$1,699$1,129$729$460$285$166
37 years$1,635$1,072$682$424$259$148
38 years$1,575$1,019$639$391$234$132
39 years$1,517$969$598$360$213$117
40 years$1,463$922$561$332$193$104
41 years$1,411$877$526$306$175$93
42 years$1,362$835$493$283$159$83
43 years$1,316$796$463$261$144$74
44 years$1,271$759$435$241$131$66
45 years$1,229$724$408$223$119$58
46 years$1,189$690$383$206$108$52
47 years$1,150$659$360$190$98$46
48 years$1,113$629$338$176$89$41
49 years$1,078$600$318$162$81$37
50 years$1,045$574$299$150$73$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,070,000, adding $6,768 every year, while hoping to spend $25,816 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: 76/11/13 Blend
63$1,070,000$1,070,000$1,070,000$1,070,000
64$1,186,121$1,129,411$1,112,826$1,272,628
65$1,279,638$1,157,284$1,122,638$1,358,490
66$1,381,827$1,185,658$1,131,913$1,448,672
67$1,493,548$1,214,529$1,140,606$1,546,817
68$1,615,743$1,243,895$1,148,670$1,653,711
69$1,749,453$1,273,750$1,156,055$1,770,215
70$1,895,822$1,304,088$1,162,707$1,897,282
71$2,056,110$1,334,903$1,168,572$2,035,958
72$2,231,705$1,366,185$1,173,591$2,187,398
73$2,424,136$1,397,925$1,177,703$2,352,871
74$2,635,086$1,430,111$1,180,844$2,533,779
75$2,866,409$1,462,730$1,182,946$2,731,662
76$3,120,147$1,495,769$1,183,939$2,948,222
77$3,398,549$1,529,208$1,183,749$3,185,328
78$3,704,093$1,563,032$1,182,296$3,445,045
79$4,039,507$1,597,217$1,179,500$3,729,643
80$4,407,798$1,631,742$1,175,275$4,041,627
81$4,812,277$1,666,581$1,169,530$4,383,754
82$5,256,592$1,701,706$1,162,171$4,759,065
83$5,744,760$1,737,086$1,153,101$5,170,908
84$6,281,210$1,772,687$1,142,214$5,622,973
85$6,870,818$1,808,474$1,129,403$6,119,325
86$7,518,957$1,844,404$1,114,553$6,664,446
87$8,231,547$1,880,436$1,097,547$7,263,272
88$9,015,109$1,916,522$1,078,259$7,921,243
89$9,876,829$1,952,610$1,056,559$8,644,353
90$10,824,623$1,988,645$1,032,311$9,439,209
91$11,867,213$2,024,567$1,005,372$10,313,088
92$13,014,209$2,060,312$975,592$11,274,013
93$14,276,200$2,095,808$942,816$12,330,822
94$15,664,851$2,130,983$906,880$13,493,257
95$17,193,019$2,165,753$867,613$14,772,050
96$18,874,866$2,200,034$824,837$16,179,030
97$20,725,998$2,233,732$778,365$17,727,232
98$22,763,611$2,266,746$728,002$19,431,020
99$25,006,653$2,298,970$673,544$21,306,225
100$27,476,002$2,330,290$614,777$23,370,289