Can I retire at age 64 with 1,120,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$92,489$91,665$90,861$90,076$89,310$87,045
2 years$45,786$44,934$44,107$43,306$42,529$40,261
3 years$30,221$29,365$28,540$27,747$26,982$24,783
4 years$22,440$21,586$20,770$19,990$19,244$17,131
5 years$17,772$16,924$16,118$15,354$14,629$12,607
6 years$14,662$13,820$13,026$12,279$11,575$9,647
7 years$12,441$11,606$10,825$10,095$9,414$7,579
8 years$10,776$9,948$9,180$8,469$7,810$6,068
9 years$9,482$8,662$7,907$7,213$6,577$4,926
10 years$8,447$7,635$6,893$6,218$5,604$4,043
11 years$7,601$6,797$6,069$5,411$4,819$3,345
12 years$6,896$6,100$5,386$4,747$4,176$2,787
13 years$6,300$5,513$4,812$4,191$3,642$2,334
14 years$5,790$5,011$4,324$3,720$3,193$1,963
15 years$5,348$4,578$3,904$3,317$2,811$1,657
16 years$4,962$4,200$3,539$2,970$2,484$1,403
17 years$4,622$3,868$3,221$2,669$2,203$1,191
18 years$4,319$3,574$2,940$2,405$1,959$1,013
19 years$4,049$3,313$2,691$2,173$1,746$863
20 years$3,807$3,078$2,470$1,968$1,559$737
21 years$3,587$2,867$2,272$1,786$1,395$629
22 years$3,388$2,677$2,094$1,624$1,251$538
23 years$3,206$2,503$1,933$1,479$1,123$461
24 years$3,040$2,345$1,788$1,349$1,009$395
25 years$2,888$2,201$1,656$1,232$908$338
26 years$2,747$2,069$1,536$1,127$818$290
27 years$2,617$1,947$1,426$1,031$737$249
28 years$2,496$1,834$1,326$945$665$214
29 years$2,384$1,731$1,234$866$601$184
30 years$2,280$1,634$1,149$795$543$158
31 years$2,182$1,545$1,071$730$491$136
32 years$2,091$1,462$1,000$671$444$116
33 years$2,006$1,384$933$617$402$100
34 years$1,925$1,312$872$568$364$86
35 years$1,850$1,245$815$523$330$74
36 years$1,779$1,181$763$481$299$64
37 years$1,712$1,122$714$444$271$55
38 years$1,648$1,066$669$409$245$47
39 years$1,588$1,014$626$377$222$41
40 years$1,531$965$587$348$202$35
41 years$1,477$918$551$321$183$30
42 years$1,426$874$516$296$166$26
43 years$1,377$833$485$273$151$22
44 years$1,331$794$455$252$137$19
45 years$1,286$757$427$233$124$16
46 years$1,244$723$401$215$113$14
47 years$1,204$689$377$199$102$12
48 years$1,166$658$354$184$93$10
49 years$1,129$629$333$170$84$9
50 years$1,094$600$313$157$77$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,120,000, adding $6,765 every year, while hoping to spend $26,108 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: 40/31/29 Blend
63$1,120,000$1,120,000$1,120,000$1,120,000
64$1,241,218$1,181,858$1,164,498$1,280,016
65$1,340,044$1,211,990$1,175,730$1,339,028
66$1,448,074$1,242,724$1,186,463$1,399,916
67$1,566,222$1,274,061$1,196,653$1,465,299
68$1,695,489$1,306,003$1,206,254$1,535,606
69$1,836,981$1,338,549$1,215,216$1,611,309
70$1,991,915$1,371,700$1,223,487$1,692,928
71$2,161,630$1,405,453$1,231,014$1,781,038
72$2,347,602$1,439,806$1,237,739$1,876,270
73$2,551,456$1,474,756$1,243,602$1,979,323
74$2,774,982$1,510,296$1,248,540$2,090,964
75$3,020,151$1,546,421$1,252,486$2,212,041
76$3,289,133$1,583,123$1,255,372$2,343,487
77$3,584,321$1,620,392$1,257,123$2,486,331
78$3,908,349$1,658,218$1,257,664$2,641,709
79$4,264,118$1,696,588$1,256,913$2,810,870
80$4,654,825$1,735,488$1,254,786$2,995,195
81$5,083,990$1,774,900$1,251,195$3,196,202
82$5,555,493$1,814,806$1,246,046$3,415,569
83$6,073,607$1,855,185$1,239,242$3,655,143
84$6,643,039$1,896,013$1,230,680$3,916,960
85$7,268,976$1,937,265$1,220,255$4,203,266
86$7,957,131$1,978,911$1,207,853$4,516,538
87$8,713,800$2,020,919$1,193,358$4,859,504
88$9,545,918$2,063,254$1,176,646$5,235,173
89$10,461,126$2,105,878$1,157,588$5,646,863
90$11,467,843$2,148,749$1,136,050$6,098,231
91$12,575,346$2,191,820$1,111,890$6,593,308
92$13,793,854$2,235,042$1,084,961$7,136,540
93$15,134,628$2,278,360$1,055,108$7,732,825
94$16,610,076$2,321,715$1,022,170$8,387,566
95$18,233,868$2,365,044$985,978$9,106,718
96$20,021,069$2,408,278$946,354$9,896,845
97$21,988,276$2,451,341$903,115$10,765,185
98$24,153,777$2,494,154$856,066$11,719,714
99$26,537,724$2,536,629$805,006$12,769,227
100$29,162,322$2,578,674$749,724$13,923,418