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%13.2%
1 years$95,792$94,938$94,106$93,293$92,500$91,269
2 years$47,422$46,538$45,683$44,853$44,048$42,809
3 years$31,300$30,413$29,560$28,738$27,946$26,738
4 years$23,241$22,357$21,512$20,704$19,931$18,764
5 years$18,407$17,528$16,694$15,902$15,151$14,028
6 years$15,185$14,313$13,491$12,717$11,989$10,911
7 years$12,885$12,020$11,211$10,456$9,750$8,718
8 years$11,161$10,303$9,508$8,771$8,089$7,102
9 years$9,820$8,971$8,189$7,471$6,812$5,870
10 years$8,748$7,908$7,140$6,440$5,804$4,907
11 years$7,872$7,040$6,286$5,605$4,992$4,138
12 years$7,142$6,318$5,578$4,916$4,326$3,515
13 years$6,525$5,710$4,984$4,340$3,772$3,003
14 years$5,997$5,190$4,478$3,853$3,307$2,578
15 years$5,539$4,741$4,043$3,436$2,911$2,222
16 years$5,139$4,350$3,666$3,077$2,573$1,921
17 years$4,787$4,006$3,336$2,764$2,281$1,666
18 years$4,474$3,702$3,045$2,491$2,029$1,449
19 years$4,194$3,431$2,788$2,251$1,808$1,262
20 years$3,942$3,188$2,558$2,039$1,615$1,101
21 years$3,715$2,970$2,353$1,850$1,445$963
22 years$3,509$2,772$2,169$1,682$1,295$843
23 years$3,321$2,593$2,002$1,532$1,163$738
24 years$3,149$2,429$1,852$1,397$1,045$648
25 years$2,991$2,280$1,715$1,276$941$569
26 years$2,845$2,143$1,591$1,167$847$499
27 years$2,710$2,016$1,477$1,068$764$439
28 years$2,585$1,900$1,373$979$689$386
29 years$2,469$1,792$1,278$897$622$340
30 years$2,361$1,693$1,190$824$562$299
31 years$2,260$1,600$1,110$756$508$264
32 years$2,166$1,514$1,035$695$460$232
33 years$2,077$1,434$967$639$416$205
34 years$1,994$1,359$903$588$377$181
35 years$1,916$1,289$844$541$341$159
36 years$1,842$1,223$790$499$309$140
37 years$1,773$1,162$739$459$280$124
38 years$1,707$1,104$692$423$254$109
39 years$1,645$1,050$649$390$230$96
40 years$1,586$999$608$360$209$85
41 years$1,530$951$570$332$190$75
42 years$1,477$906$535$307$172$66
43 years$1,426$863$502$283$156$59
44 years$1,378$823$471$261$142$52
45 years$1,332$784$442$241$129$46
46 years$1,289$748$415$223$117$40
47 years$1,247$714$390$206$106$36
48 years$1,207$682$367$190$96$31
49 years$1,169$651$345$176$87$28
50 years$1,133$622$324$163$79$25

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 $6,954 every year, while hoping to spend $30,954 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: 78/9/13 Blend
63$1,160,000$1,160,000$1,160,000$1,160,000
64$1,285,493$1,224,013$1,206,033$1,381,920
65$1,383,679$1,251,055$1,213,500$1,473,416
66$1,490,841$1,278,384$1,220,180$1,569,098
67$1,607,865$1,305,983$1,226,014$1,673,170
68$1,735,721$1,333,830$1,230,939$1,786,459
69$1,875,480$1,361,902$1,234,891$1,909,871
70$2,028,319$1,390,176$1,237,800$2,044,410
71$2,195,537$1,418,624$1,239,596$2,191,178
72$2,378,561$1,447,216$1,240,202$2,351,390
73$2,578,965$1,475,921$1,239,539$2,526,384
74$2,798,481$1,504,702$1,237,525$2,717,634
75$3,039,015$1,533,522$1,234,072$2,926,766
76$3,302,670$1,562,339$1,229,088$3,155,569
77$3,591,758$1,591,109$1,222,478$3,406,014
78$3,908,827$1,619,784$1,214,141$3,680,275
79$4,256,685$1,648,311$1,203,973$3,980,744
80$4,638,424$1,676,635$1,191,862$4,310,059
81$5,057,447$1,704,694$1,177,694$4,671,127
82$5,517,507$1,732,425$1,161,347$5,067,148
83$6,022,735$1,759,756$1,142,695$5,501,651
84$6,577,684$1,786,613$1,121,604$5,978,525
85$7,187,367$1,812,917$1,097,937$6,502,053
86$7,857,309$1,838,580$1,071,549$7,076,956
87$8,593,594$1,863,511$1,042,286$7,708,436
88$9,402,929$1,887,611$1,009,990$8,402,225
89$10,292,698$1,910,774$974,496$9,164,640
90$11,271,041$1,932,889$935,628$10,002,642
91$12,346,921$1,953,835$893,206$10,923,903
92$13,530,217$1,973,483$847,039$11,936,875
93$14,831,813$1,991,698$796,928$13,050,873
94$16,263,699$2,008,332$742,667$14,276,164
95$17,839,088$2,023,232$684,037$15,624,060
96$19,572,536$2,036,231$620,813$17,107,027
97$21,480,082$2,047,153$552,758$18,738,804
98$23,579,398$2,055,812$479,624$20,534,532
99$25,889,958$2,062,009$401,152$22,510,894
100$28,433,218$2,065,530$317,074$24,686,277