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%16.6%
1 years$99,095$98,212$97,351$96,510$95,690$93,112
2 years$49,057$48,143$47,258$46,399$45,567$42,988
3 years$32,380$31,462$30,579$29,728$28,909$26,411
4 years$24,043$23,128$22,254$21,418$20,618$18,219
5 years$19,042$18,133$17,270$16,451$15,674$13,380
6 years$15,709$14,807$13,956$13,156$12,402$10,216
7 years$13,329$12,435$11,598$10,816$10,086$8,008
8 years$11,546$10,659$9,836$9,073$8,367$6,396
9 years$10,159$9,280$8,472$7,729$7,047$5,180
10 years$9,050$8,180$7,386$6,662$6,004$4,240
11 years$8,143$7,282$6,502$5,798$5,164$3,500
12 years$7,388$6,536$5,771$5,086$4,475$2,908
13 years$6,750$5,907$5,156$4,490$3,902$2,429
14 years$6,204$5,369$4,632$3,986$3,421$2,038
15 years$5,730$4,905$4,182$3,554$3,012$1,715
16 years$5,316$4,500$3,792$3,183$2,662$1,448
17 years$4,952$4,144$3,451$2,860$2,360$1,226
18 years$4,628$3,830$3,150$2,577$2,098$1,039
19 years$4,339$3,549$2,884$2,329$1,870$883
20 years$4,078$3,298$2,646$2,109$1,671$751
21 years$3,843$3,072$2,434$1,914$1,495$640
22 years$3,630$2,868$2,244$1,740$1,340$546
23 years$3,435$2,682$2,071$1,585$1,203$466
24 years$3,257$2,513$1,916$1,446$1,081$398
25 years$3,094$2,358$1,774$1,320$973$340
26 years$2,943$2,216$1,646$1,207$876$290
27 years$2,804$2,086$1,528$1,105$790$248
28 years$2,675$1,966$1,421$1,012$713$213
29 years$2,555$1,854$1,322$928$644$182
30 years$2,443$1,751$1,231$852$582$156
31 years$2,338$1,655$1,148$782$526$133
32 years$2,241$1,566$1,071$719$476$114
33 years$2,149$1,483$1,000$661$431$98
34 years$2,063$1,406$934$608$390$84
35 years$1,982$1,333$874$560$353$72
36 years$1,906$1,266$817$516$320$62
37 years$1,834$1,202$765$475$290$53
38 years$1,766$1,142$716$438$263$45
39 years$1,702$1,086$671$404$238$39
40 years$1,641$1,034$629$373$216$33
41 years$1,583$984$590$344$196$29
42 years$1,528$937$553$317$178$24
43 years$1,476$893$519$293$162$21
44 years$1,426$851$487$270$147$18
45 years$1,378$811$458$250$133$15
46 years$1,333$774$430$231$121$13
47 years$1,290$739$404$213$110$11
48 years$1,249$705$379$197$100$10
49 years$1,209$673$357$182$91$8
50 years$1,172$643$335$168$82$7

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 $2,790 every year, while hoping to spend $37,698 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: 41/35/24 Blend
63$1,200,000$1,200,000$1,200,000$1,200,000
64$1,325,278$1,261,678$1,243,078$1,370,152
65$1,420,346$1,283,390$1,244,611$1,424,338
66$1,523,847$1,304,902$1,244,931$1,479,165
67$1,636,603$1,326,165$1,243,959$1,537,763
68$1,759,515$1,347,126$1,241,610$1,600,500
69$1,893,577$1,367,727$1,237,796$1,667,783
70$2,039,883$1,387,907$1,232,424$1,740,059
71$2,199,637$1,407,600$1,225,396$1,817,825
72$2,374,165$1,426,737$1,216,611$1,901,629
73$2,564,924$1,445,241$1,205,962$1,992,076
74$2,773,521$1,463,033$1,193,337$2,089,833
75$3,001,725$1,480,027$1,178,618$2,195,641
76$3,251,483$1,496,130$1,161,684$2,310,314
77$3,524,939$1,511,245$1,142,405$2,434,753
78$3,824,454$1,525,268$1,120,647$2,569,955
79$4,152,629$1,538,087$1,096,270$2,717,018
80$4,512,328$1,549,583$1,069,125$2,877,155
81$4,906,704$1,559,631$1,039,059$3,051,708
82$5,339,231$1,568,096$1,005,911$3,242,157
83$5,813,734$1,574,835$969,511$3,450,137
84$6,334,430$1,579,696$929,684$3,677,452
85$6,905,958$1,582,518$886,245$3,926,094
86$7,533,433$1,583,129$839,002$4,198,263
87$8,222,488$1,581,346$787,752$4,496,387
88$8,979,326$1,576,976$732,286$4,823,147
89$9,810,783$1,569,814$672,384$5,181,501
90$10,724,389$1,559,641$607,815$5,574,714
91$11,728,439$1,546,226$538,339$6,006,390
92$12,832,072$1,529,324$463,706$6,480,506
93$14,045,358$1,508,675$383,654$7,001,450
94$15,379,387$1,484,003$297,910$7,574,067
95$16,846,381$1,455,016$206,187$8,203,699
96$18,459,806$1,421,405$108,187$8,896,243
97$20,234,495$1,382,843$3,600$9,658,204
98$22,186,793$1,338,982$0$10,496,761
99$24,334,710$1,289,456$0$11,447,490
100$26,698,088$1,233,877$0$12,494,248