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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$92,489$91,665$90,861$90,076$89,310$87,507
2 years$45,786$44,934$44,107$43,306$42,529$40,720
3 years$30,221$29,365$28,540$27,747$26,982$25,224
4 years$22,440$21,586$20,770$19,990$19,244$17,550
5 years$17,772$16,924$16,118$15,354$14,629$13,004
6 years$14,662$13,820$13,026$12,279$11,575$10,022
7 years$12,441$11,606$10,825$10,095$9,414$7,932
8 years$10,776$9,948$9,180$8,469$7,810$6,398
9 years$9,482$8,662$7,907$7,213$6,577$5,235
10 years$8,447$7,635$6,893$6,218$5,604$4,331
11 years$7,601$6,797$6,069$5,411$4,819$3,614
12 years$6,896$6,100$5,386$4,747$4,176$3,036
13 years$6,300$5,513$4,812$4,191$3,642$2,565
14 years$5,790$5,011$4,324$3,720$3,193$2,177
15 years$5,348$4,578$3,904$3,317$2,811$1,854
16 years$4,962$4,200$3,539$2,970$2,484$1,585
17 years$4,622$3,868$3,221$2,669$2,203$1,358
18 years$4,319$3,574$2,940$2,405$1,959$1,166
19 years$4,049$3,313$2,691$2,173$1,746$1,003
20 years$3,807$3,078$2,470$1,968$1,559$864
21 years$3,587$2,867$2,272$1,786$1,395$746
22 years$3,388$2,677$2,094$1,624$1,251$644
23 years$3,206$2,503$1,933$1,479$1,123$557
24 years$3,040$2,345$1,788$1,349$1,009$482
25 years$2,888$2,201$1,656$1,232$908$418
26 years$2,747$2,069$1,536$1,127$818$362
27 years$2,617$1,947$1,426$1,031$737$314
28 years$2,496$1,834$1,326$945$665$272
29 years$2,384$1,731$1,234$866$601$236
30 years$2,280$1,634$1,149$795$543$205
31 years$2,182$1,545$1,071$730$491$178
32 years$2,091$1,462$1,000$671$444$155
33 years$2,006$1,384$933$617$402$135
34 years$1,925$1,312$872$568$364$117
35 years$1,850$1,245$815$523$330$102
36 years$1,779$1,181$763$481$299$88
37 years$1,712$1,122$714$444$271$77
38 years$1,648$1,066$669$409$245$67
39 years$1,588$1,014$626$377$222$58
40 years$1,531$965$587$348$202$51
41 years$1,477$918$551$321$183$44
42 years$1,426$874$516$296$166$38
43 years$1,377$833$485$273$151$33
44 years$1,331$794$455$252$137$29
45 years$1,286$757$427$233$124$25
46 years$1,244$723$401$215$113$22
47 years$1,204$689$377$199$102$19
48 years$1,166$658$354$184$93$17
49 years$1,129$629$333$170$84$14
50 years$1,094$600$313$157$77$13

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 $2,930 every year, while hoping to spend $57,707 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: 31/50/19 Blend
63$1,120,000$1,120,000$1,120,000$1,120,000
64$1,237,262$1,177,902$1,160,542$1,268,184
65$1,302,063$1,174,220$1,138,021$1,287,993
66$1,371,540$1,168,423$1,112,810$1,303,858
67$1,446,108$1,160,346$1,084,761$1,319,712
68$1,526,224$1,149,817$1,053,713$1,335,591
69$1,612,390$1,136,648$1,019,503$1,351,535
70$1,705,154$1,120,645$981,958$1,367,595
71$1,805,123$1,101,599$940,896$1,383,835
72$1,912,958$1,079,290$896,129$1,400,327
73$2,029,389$1,053,485$847,459$1,417,161
74$2,155,218$1,023,937$794,680$1,434,440
75$2,291,325$990,384$737,576$1,452,284
76$2,438,676$952,550$675,921$1,470,837
77$2,598,338$910,141$609,481$1,490,260
78$2,771,479$862,848$538,009$1,510,744
79$2,959,385$810,343$461,248$1,532,506
80$3,163,473$752,280$378,930$1,555,794
81$3,385,297$688,292$290,774$1,580,894
82$3,626,571$617,992$196,489$1,608,130
83$3,889,178$540,971$95,768$1,637,870
84$4,175,190$456,795$0$1,670,534
85$4,486,890$365,008$0$1,708,973
86$4,826,787$265,127$0$1,772,219
87$5,197,643$156,642$0$1,841,514
88$5,602,500$39,015$0$1,917,614
89$6,044,706$0$0$2,001,363
90$6,527,945$0$0$2,142,301
91$7,056,275$0$0$2,320,024
92$7,634,163$0$0$2,514,590
93$8,266,527$0$0$2,727,676
94$8,958,783$0$0$2,961,130
95$9,716,895$0$0$3,216,986
96$10,547,430$0$0$3,497,485
97$11,457,621$0$0$3,805,094
98$12,455,434$0$0$4,142,532
99$13,549,642$0$0$4,512,791
100$14,749,907$0$0$4,919,171