Can I retire at age 64 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$100,746$99,849$98,974$98,119$97,285$93,795
2 years$49,874$48,946$48,045$47,173$46,326$42,849
3 years$32,919$31,987$31,089$30,224$29,391$26,035
4 years$24,443$23,513$22,625$21,775$20,962$17,752
5 years$19,359$18,435$17,558$16,725$15,935$12,880
6 years$15,971$15,053$14,189$13,375$12,609$9,711
7 years$13,552$12,642$11,791$10,996$10,254$7,513
8 years$11,738$10,836$10,000$9,225$8,507$5,920
9 years$10,328$9,435$8,613$7,857$7,164$4,728
10 years$9,201$8,317$7,509$6,773$6,104$3,815
11 years$8,279$7,404$6,611$5,895$5,250$3,102
12 years$7,512$6,645$5,867$5,170$4,549$2,539
13 years$6,863$6,005$5,242$4,565$3,967$2,088
14 years$6,307$5,459$4,710$4,052$3,478$1,723
15 years$5,826$4,987$4,252$3,614$3,062$1,427
16 years$5,405$4,575$3,855$3,236$2,706$1,185
17 years$5,034$4,213$3,508$2,907$2,399$986
18 years$4,705$3,893$3,202$2,620$2,133$822
19 years$4,411$3,608$2,932$2,367$1,902$687
20 years$4,146$3,353$2,691$2,144$1,699$574
21 years$3,907$3,123$2,475$1,946$1,520$480
22 years$3,690$2,915$2,281$1,769$1,362$402
23 years$3,493$2,727$2,106$1,611$1,223$337
24 years$3,312$2,555$1,948$1,470$1,099$283
25 years$3,145$2,398$1,804$1,342$989$237
26 years$2,992$2,253$1,673$1,227$891$199
27 years$2,850$2,121$1,554$1,123$803$167
28 years$2,719$1,998$1,444$1,029$725$140
29 years$2,597$1,885$1,344$944$655$118
30 years$2,483$1,780$1,252$866$591$99
31 years$2,377$1,683$1,167$795$535$83
32 years$2,278$1,592$1,089$731$484$70
33 years$2,185$1,508$1,017$672$438$59
34 years$2,097$1,429$950$619$396$49
35 years$2,015$1,356$888$569$359$42
36 years$1,938$1,287$831$524$325$35
37 years$1,864$1,222$778$483$295$29
38 years$1,795$1,161$728$445$267$25
39 years$1,730$1,104$682$411$242$21
40 years$1,668$1,051$640$379$220$17
41 years$1,609$1,000$600$349$199$15
42 years$1,553$953$563$323$181$12
43 years$1,500$908$528$298$164$10
44 years$1,450$865$495$275$149$9
45 years$1,401$825$465$254$135$7
46 years$1,355$787$437$234$123$6
47 years$1,312$751$411$217$112$5
48 years$1,270$717$386$200$101$4
49 years$1,230$685$363$185$92$4
50 years$1,191$654$341$171$84$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,220,000, adding $4,273 every year, while hoping to spend $20,606 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: 31/44/25 Blend
63$1,220,000$1,220,000$1,220,000$1,220,000
64$1,348,848$1,284,188$1,265,278$1,380,168
65$1,464,505$1,325,188$1,285,740$1,445,511
66$1,591,270$1,367,507$1,306,197$1,513,677
67$1,730,252$1,411,187$1,326,627$1,586,639
68$1,882,675$1,456,273$1,347,006$1,664,831
69$2,049,887$1,502,810$1,367,311$1,748,726
70$2,233,373$1,550,845$1,387,513$1,838,848
71$2,434,769$1,600,428$1,407,586$1,935,770
72$2,655,875$1,651,609$1,427,500$2,040,123
73$2,898,675$1,704,439$1,447,222$2,152,602
74$3,165,356$1,758,972$1,466,720$2,273,968
75$3,458,326$1,815,265$1,485,959$2,405,062
76$3,780,237$1,873,375$1,504,900$2,546,806
77$4,134,011$1,933,360$1,523,504$2,700,216
78$4,522,868$1,995,283$1,541,730$2,866,409
79$4,950,355$2,059,206$1,559,532$3,046,615
80$5,420,379$2,125,196$1,576,865$3,242,187
81$5,937,247$2,193,319$1,593,678$3,454,614
82$6,505,700$2,263,646$1,609,921$3,685,535
83$7,130,966$2,336,248$1,625,537$3,936,756
84$7,818,801$2,411,202$1,640,470$4,210,262
85$8,575,551$2,488,583$1,654,658$4,508,242
86$9,408,206$2,568,472$1,668,037$4,833,102
87$10,324,466$2,650,950$1,680,540$5,187,496
88$11,332,819$2,736,104$1,692,095$5,574,343
89$12,442,614$2,824,020$1,702,628$5,996,858
90$13,664,154$2,914,791$1,712,059$6,458,583
91$15,008,792$3,008,510$1,720,308$6,963,419
92$16,489,036$3,105,275$1,727,285$7,515,661
93$18,118,670$3,205,185$1,732,901$8,120,040
94$19,912,880$3,308,345$1,737,060$8,781,768
95$21,888,403$3,414,863$1,739,660$9,506,587
96$24,063,677$3,524,848$1,740,595$10,300,818
97$26,459,023$3,638,417$1,739,756$11,171,429
98$29,096,831$3,755,687$1,737,026$12,126,094
99$32,001,774$3,876,781$1,732,282$13,173,265
100$35,201,038$4,001,827$1,725,397$14,322,257