Can I retire at age 64 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$99,095$98,212$97,351$96,510$95,690$93,719
2 years$49,057$48,143$47,258$46,399$45,567$43,590
3 years$32,380$31,462$30,579$29,728$28,909$26,989
4 years$24,043$23,128$22,254$21,418$20,618$18,769
5 years$19,042$18,133$17,270$16,451$15,674$13,900
6 years$15,709$14,807$13,956$13,156$12,402$10,706
7 years$13,329$12,435$11,598$10,816$10,086$8,469
8 years$11,546$10,659$9,836$9,073$8,367$6,827
9 years$10,159$9,280$8,472$7,729$7,047$5,583
10 years$9,050$8,180$7,386$6,662$6,004$4,616
11 years$8,143$7,282$6,502$5,798$5,164$3,849
12 years$7,388$6,536$5,771$5,086$4,475$3,232
13 years$6,750$5,907$5,156$4,490$3,902$2,728
14 years$6,204$5,369$4,632$3,986$3,421$2,314
15 years$5,730$4,905$4,182$3,554$3,012$1,970
16 years$5,316$4,500$3,792$3,183$2,662$1,682
17 years$4,952$4,144$3,451$2,860$2,360$1,440
18 years$4,628$3,830$3,150$2,577$2,098$1,236
19 years$4,339$3,549$2,884$2,329$1,870$1,062
20 years$4,078$3,298$2,646$2,109$1,671$915
21 years$3,843$3,072$2,434$1,914$1,495$789
22 years$3,630$2,868$2,244$1,740$1,340$681
23 years$3,435$2,682$2,071$1,585$1,203$588
24 years$3,257$2,513$1,916$1,446$1,081$509
25 years$3,094$2,358$1,774$1,320$973$440
26 years$2,943$2,216$1,646$1,207$876$381
27 years$2,804$2,086$1,528$1,105$790$330
28 years$2,675$1,966$1,421$1,012$713$287
29 years$2,555$1,854$1,322$928$644$248
30 years$2,443$1,751$1,231$852$582$216
31 years$2,338$1,655$1,148$782$526$187
32 years$2,241$1,566$1,071$719$476$162
33 years$2,149$1,483$1,000$661$431$141
34 years$2,063$1,406$934$608$390$122
35 years$1,982$1,333$874$560$353$106
36 years$1,906$1,266$817$516$320$92
37 years$1,834$1,202$765$475$290$80
38 years$1,766$1,142$716$438$263$70
39 years$1,702$1,086$671$404$238$61
40 years$1,641$1,034$629$373$216$53
41 years$1,583$984$590$344$196$46
42 years$1,528$937$553$317$178$40
43 years$1,476$893$519$293$162$35
44 years$1,426$851$487$270$147$30
45 years$1,378$811$458$250$133$26
46 years$1,333$774$430$231$121$23
47 years$1,290$739$404$213$110$20
48 years$1,249$705$379$197$100$17
49 years$1,209$673$357$182$91$15
50 years$1,172$643$335$168$82$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,200,000, adding $3,424 every year, while hoping to spend $41,484 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: 72/7/21 Blend
63$1,200,000$1,200,000$1,200,000$1,200,000
64$1,325,932$1,262,332$1,243,732$1,414,377
65$1,417,038$1,280,047$1,241,258$1,491,429
66$1,516,047$1,297,241$1,237,311$1,570,509
67$1,623,721$1,313,842$1,231,798$1,656,084
68$1,740,898$1,329,778$1,224,621$1,748,794
69$1,868,501$1,344,969$1,215,677$1,849,341
70$2,007,545$1,359,330$1,204,860$1,958,504
71$2,159,149$1,372,771$1,192,057$2,077,137
72$2,324,541$1,385,196$1,177,150$2,206,183
73$2,505,076$1,396,502$1,160,016$2,346,683
74$2,702,244$1,406,581$1,140,526$2,499,784
75$2,917,685$1,415,315$1,118,546$2,666,748
76$3,153,204$1,422,581$1,093,933$2,848,970
77$3,410,791$1,428,248$1,066,540$3,047,984
78$3,692,635$1,432,175$1,036,212$3,265,486
79$4,001,146$1,434,214$1,002,787$3,503,341
80$4,338,979$1,434,206$966,096$3,763,607
81$4,709,057$1,431,984$925,962$4,048,554
82$5,114,598$1,427,369$882,200$4,360,682
83$5,559,150$1,420,173$834,617$4,702,749
84$6,046,616$1,410,194$783,009$5,077,794
85$6,581,297$1,397,220$727,166$5,489,169
86$7,167,931$1,381,025$666,867$5,940,568
87$7,811,734$1,361,369$601,882$6,436,064
88$8,518,454$1,338,000$531,968$6,980,145
89$9,294,423$1,310,648$456,875$7,577,761
90$10,146,613$1,279,029$376,340$8,234,368
91$11,082,708$1,242,842$290,087$8,955,980
92$12,111,170$1,201,767$197,832$9,749,225
93$13,241,324$1,155,468$99,273$10,621,413
94$14,483,440$1,103,587$0$11,580,600
95$15,848,833$1,045,746$0$12,636,988
96$17,349,972$981,545$0$13,822,868
97$19,000,590$910,562$0$15,126,838
98$20,815,821$832,349$0$16,560,872
99$22,812,336$746,435$0$18,138,163
100$25,008,504$652,321$0$19,873,248