Can I retire at age 64 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$95,792$94,938$94,106$93,293$92,500$91,879
2 years$47,422$46,538$45,683$44,853$44,048$43,421
3 years$31,300$30,413$29,560$28,738$27,946$27,333
4 years$23,241$22,357$21,512$20,704$19,931$19,337
5 years$18,407$17,528$16,694$15,902$15,151$14,578
6 years$15,185$14,313$13,491$12,717$11,989$11,437
7 years$12,885$12,020$11,211$10,456$9,750$9,220
8 years$11,161$10,303$9,508$8,771$8,089$7,580
9 years$9,820$8,971$8,189$7,471$6,812$6,324
10 years$8,748$7,908$7,140$6,440$5,804$5,338
11 years$7,872$7,040$6,286$5,605$4,992$4,546
12 years$7,142$6,318$5,578$4,916$4,326$3,901
13 years$6,525$5,710$4,984$4,340$3,772$3,367
14 years$5,997$5,190$4,478$3,853$3,307$2,921
15 years$5,539$4,741$4,043$3,436$2,911$2,545
16 years$5,139$4,350$3,666$3,077$2,573$2,225
17 years$4,787$4,006$3,336$2,764$2,281$1,952
18 years$4,474$3,702$3,045$2,491$2,029$1,716
19 years$4,194$3,431$2,788$2,251$1,808$1,512
20 years$3,942$3,188$2,558$2,039$1,615$1,336
21 years$3,715$2,970$2,353$1,850$1,445$1,181
22 years$3,509$2,772$2,169$1,682$1,295$1,046
23 years$3,321$2,593$2,002$1,532$1,163$928
24 years$3,149$2,429$1,852$1,397$1,045$824
25 years$2,991$2,280$1,715$1,276$941$733
26 years$2,845$2,143$1,591$1,167$847$652
27 years$2,710$2,016$1,477$1,068$764$580
28 years$2,585$1,900$1,373$979$689$517
29 years$2,469$1,792$1,278$897$622$461
30 years$2,361$1,693$1,190$824$562$411
31 years$2,260$1,600$1,110$756$508$367
32 years$2,166$1,514$1,035$695$460$328
33 years$2,077$1,434$967$639$416$293
34 years$1,994$1,359$903$588$377$262
35 years$1,916$1,289$844$541$341$234
36 years$1,842$1,223$790$499$309$209
37 years$1,773$1,162$739$459$280$187
38 years$1,707$1,104$692$423$254$167
39 years$1,645$1,050$649$390$230$150
40 years$1,586$999$608$360$209$134
41 years$1,530$951$570$332$190$120
42 years$1,477$906$535$307$172$107
43 years$1,426$863$502$283$156$96
44 years$1,378$823$471$261$142$86
45 years$1,332$784$442$241$129$77
46 years$1,289$748$415$223$117$69
47 years$1,247$714$390$206$106$62
48 years$1,207$682$367$190$96$55
49 years$1,169$651$345$176$87$49
50 years$1,133$622$324$163$79$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,160,000, adding $4,944 every year, while hoping to spend $24,962 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: 39/34/27 Blend
63$1,160,000$1,160,000$1,160,000$1,160,000
64$1,283,420$1,221,940$1,203,960$1,323,030
65$1,387,769$1,255,255$1,217,733$1,385,676
66$1,501,926$1,289,367$1,231,131$1,450,698
67$1,626,863$1,324,287$1,244,115$1,520,528
68$1,763,654$1,360,028$1,256,644$1,595,620
69$1,913,479$1,396,602$1,268,674$1,676,473
70$2,077,640$1,434,021$1,280,160$1,763,639
71$2,257,568$1,472,297$1,291,054$1,857,724
72$2,454,840$1,511,440$1,301,305$1,959,395
73$2,671,196$1,551,462$1,310,860$2,069,389
74$2,908,547$1,592,373$1,319,663$2,188,516
75$3,169,002$1,634,182$1,327,655$2,317,668
76$3,454,882$1,676,900$1,334,774$2,457,831
77$3,768,746$1,720,533$1,340,955$2,610,087
78$4,113,410$1,765,091$1,346,128$2,775,632
79$4,491,977$1,810,580$1,350,223$2,955,781
80$4,907,867$1,857,007$1,353,164$3,151,986
81$5,364,845$1,904,376$1,354,871$3,365,845
82$5,867,061$1,952,692$1,355,261$3,599,118
83$6,419,086$2,001,959$1,354,247$3,853,749
84$7,025,955$2,052,177$1,351,736$4,131,875
85$7,693,217$2,103,348$1,347,634$4,435,855
86$8,426,983$2,155,470$1,341,838$4,768,288
87$9,233,990$2,208,542$1,334,243$5,132,038
88$10,121,655$2,262,560$1,324,739$5,530,261
89$11,098,155$2,317,516$1,313,209$5,966,436
90$12,172,497$2,373,405$1,299,532$6,444,399
91$13,354,606$2,430,215$1,283,580$6,968,375
92$14,655,415$2,487,935$1,265,219$7,543,023
93$16,086,974$2,546,551$1,244,311$8,173,476
94$17,662,559$2,606,045$1,220,709$8,865,395
95$19,396,796$2,666,398$1,194,259$9,625,015
96$21,305,805$2,727,587$1,164,802$10,459,211
97$23,407,344$2,789,586$1,132,170$11,375,561
98$25,720,984$2,852,366$1,096,188$12,382,415
99$28,268,286$2,915,894$1,056,672$13,488,978
100$31,073,011$2,980,133$1,013,431$14,705,396