Can I retire at age 64 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$101,572$100,667$99,785$98,923$98,082$94,753
2 years$50,283$49,347$48,439$47,559$46,706$43,385
3 years$33,189$32,249$31,343$30,472$29,632$26,424
4 years$24,644$23,706$22,810$21,953$21,134$18,063
5 years$19,518$18,586$17,701$16,862$16,066$13,140
6 years$16,102$15,177$14,305$13,485$12,712$9,935
7 years$13,663$12,745$11,888$11,087$10,338$7,708
8 years$11,834$10,925$10,082$9,300$8,577$6,092
9 years$10,413$9,512$8,683$7,922$7,223$4,880
10 years$9,276$8,385$7,570$6,829$6,154$3,950
11 years$8,347$7,464$6,665$5,943$5,293$3,223
12 years$7,573$6,700$5,915$5,213$4,587$2,646
13 years$6,919$6,055$5,285$4,602$4,000$2,183
14 years$6,359$5,503$4,748$4,085$3,506$1,809
15 years$5,873$5,027$4,287$3,643$3,087$1,503
16 years$5,449$4,613$3,887$3,262$2,728$1,253
17 years$5,076$4,248$3,537$2,931$2,419$1,047
18 years$4,744$3,925$3,229$2,641$2,151$876
19 years$4,447$3,638$2,956$2,387$1,917$734
20 years$4,180$3,381$2,713$2,162$1,712$616
21 years$3,939$3,149$2,495$1,962$1,532$517
22 years$3,721$2,939$2,300$1,784$1,374$435
23 years$3,521$2,749$2,123$1,625$1,233$366
24 years$3,339$2,576$1,964$1,482$1,108$308
25 years$3,171$2,417$1,819$1,353$997$259
26 years$3,017$2,272$1,687$1,237$898$219
27 years$2,874$2,138$1,566$1,132$810$184
28 years$2,741$2,015$1,456$1,038$731$155
29 years$2,618$1,901$1,355$951$660$131
30 years$2,504$1,795$1,262$873$596$111
31 years$2,397$1,697$1,177$802$539$93
32 years$2,297$1,606$1,098$737$488$79
33 years$2,203$1,520$1,025$678$441$66
34 years$2,115$1,441$958$624$400$56
35 years$2,032$1,367$895$574$362$47
36 years$1,954$1,297$838$529$328$40
37 years$1,880$1,232$784$487$297$34
38 years$1,810$1,171$734$449$269$28
39 years$1,744$1,113$688$414$244$24
40 years$1,682$1,059$645$382$222$20
41 years$1,622$1,008$605$352$201$17
42 years$1,566$960$567$325$182$14
43 years$1,512$915$532$300$166$12
44 years$1,461$872$500$277$150$10
45 years$1,413$832$469$256$136$9
46 years$1,366$793$441$236$124$7
47 years$1,322$757$414$218$112$6
48 years$1,280$723$389$202$102$5
49 years$1,240$690$366$187$93$4
50 years$1,201$659$344$172$84$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,230,000, adding $3,766 every year, while hoping to spend $36,146 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: 38/37/25 Blend
63$1,230,000$1,230,000$1,230,000$1,230,000
64$1,359,345$1,294,155$1,275,090$1,400,737
65$1,459,539$1,319,109$1,279,346$1,456,243
66$1,568,741$1,344,075$1,282,534$1,512,566
67$1,687,833$1,369,014$1,284,578$1,572,726
68$1,817,782$1,393,887$1,285,403$1,637,095
69$1,959,657$1,418,649$1,284,925$1,706,080
70$2,114,632$1,443,252$1,283,060$1,780,135
71$2,284,000$1,467,647$1,279,717$1,859,756
72$2,469,184$1,491,778$1,274,804$1,945,495
73$2,671,751$1,515,585$1,268,220$2,037,960
74$2,893,428$1,539,007$1,259,864$2,137,822
75$3,136,114$1,561,975$1,249,626$2,245,823
76$3,401,903$1,584,416$1,237,393$2,362,782
77$3,693,097$1,606,253$1,223,046$2,489,603
78$4,012,236$1,627,403$1,206,461$2,627,284
79$4,362,114$1,647,775$1,187,508$2,776,927
80$4,745,809$1,667,276$1,166,049$2,939,750
81$5,166,713$1,685,803$1,141,942$3,117,095
82$5,628,558$1,703,248$1,115,038$3,310,447
83$6,135,459$1,719,496$1,085,180$3,521,443
84$6,691,947$1,734,422$1,052,205$3,751,889
85$7,303,013$1,747,896$1,015,941$4,003,782
86$7,974,155$1,759,778$976,209$4,279,322
87$8,711,430$1,769,918$932,823$4,580,941
88$9,521,510$1,778,158$885,587$4,911,320
89$10,411,746$1,784,330$834,296$5,273,420
90$11,390,236$1,788,254$778,737$5,670,506
91$12,465,901$1,789,739$718,686$6,106,185
92$13,648,571$1,788,584$653,910$6,584,432
93$14,949,074$1,784,574$584,165$7,109,636
94$16,379,342$1,777,480$509,196$7,686,640
95$17,952,519$1,767,061$428,738$8,320,786
96$19,683,088$1,753,059$342,513$9,017,966
97$21,587,007$1,735,203$250,231$9,784,684
98$23,681,857$1,713,203$151,589$10,628,112
99$25,987,010$1,686,754$46,272$11,556,161
100$28,523,812$1,655,532$0$12,577,559