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%16%
1 years$101,572$100,667$99,785$98,923$98,082$95,672
2 years$50,283$49,347$48,439$47,559$46,706$44,293
3 years$33,189$32,249$31,343$30,472$29,632$27,291
4 years$24,644$23,706$22,810$21,953$21,134$18,883
5 years$19,518$18,586$17,701$16,862$16,066$13,912
6 years$16,102$15,177$14,305$13,485$12,712$10,657
7 years$13,663$12,745$11,888$11,087$10,338$8,382
8 years$11,834$10,925$10,082$9,300$8,577$6,718
9 years$10,413$9,512$8,683$7,922$7,223$5,461
10 years$9,276$8,385$7,570$6,829$6,154$4,487
11 years$8,347$7,464$6,665$5,943$5,293$3,718
12 years$7,573$6,700$5,915$5,213$4,587$3,101
13 years$6,919$6,055$5,285$4,602$4,000$2,601
14 years$6,359$5,503$4,748$4,085$3,506$2,191
15 years$5,873$5,027$4,287$3,643$3,087$1,852
16 years$5,449$4,613$3,887$3,262$2,728$1,570
17 years$5,076$4,248$3,537$2,931$2,419$1,335
18 years$4,744$3,925$3,229$2,641$2,151$1,137
19 years$4,447$3,638$2,956$2,387$1,917$970
20 years$4,180$3,381$2,713$2,162$1,712$829
21 years$3,939$3,149$2,495$1,962$1,532$710
22 years$3,721$2,939$2,300$1,784$1,374$608
23 years$3,521$2,749$2,123$1,625$1,233$521
24 years$3,339$2,576$1,964$1,482$1,108$447
25 years$3,171$2,417$1,819$1,353$997$384
26 years$3,017$2,272$1,687$1,237$898$330
27 years$2,874$2,138$1,566$1,132$810$283
28 years$2,741$2,015$1,456$1,038$731$244
29 years$2,618$1,901$1,355$951$660$210
30 years$2,504$1,795$1,262$873$596$180
31 years$2,397$1,697$1,177$802$539$155
32 years$2,297$1,606$1,098$737$488$134
33 years$2,203$1,520$1,025$678$441$115
34 years$2,115$1,441$958$624$400$99
35 years$2,032$1,367$895$574$362$85
36 years$1,954$1,297$838$529$328$74
37 years$1,880$1,232$784$487$297$63
38 years$1,810$1,171$734$449$269$55
39 years$1,744$1,113$688$414$244$47
40 years$1,682$1,059$645$382$222$41
41 years$1,622$1,008$605$352$201$35
42 years$1,566$960$567$325$182$30
43 years$1,512$915$532$300$166$26
44 years$1,461$872$500$277$150$22
45 years$1,413$832$469$256$136$19
46 years$1,366$793$441$236$124$17
47 years$1,322$757$414$218$112$14
48 years$1,280$723$389$202$102$12
49 years$1,240$690$366$187$93$11
50 years$1,201$659$344$172$84$9

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 $4,105 every year, while hoping to spend $22,700 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: 58/24/18 Blend
63$1,230,000$1,230,000$1,230,000$1,230,000
64$1,359,694$1,294,504$1,275,439$1,431,911
65$1,474,231$1,333,782$1,294,014$1,520,646
66$1,599,689$1,374,224$1,312,450$1,614,504
67$1,737,159$1,415,863$1,330,719$1,716,311
68$1,887,841$1,458,733$1,348,790$1,826,838
69$2,053,058$1,502,868$1,366,632$1,946,933
70$2,234,266$1,548,304$1,384,210$2,077,530
71$2,433,069$1,595,079$1,401,489$2,219,655
72$2,651,233$1,643,229$1,418,430$2,374,441
73$2,890,705$1,692,793$1,434,993$2,543,134
74$3,153,627$1,743,811$1,451,136$2,727,106
75$3,442,363$1,796,323$1,466,814$2,927,868
76$3,759,511$1,850,370$1,481,980$3,147,085
77$4,107,939$1,905,996$1,496,584$3,386,590
78$4,490,802$1,963,243$1,510,573$3,648,401
79$4,911,579$2,022,157$1,523,893$3,934,742
80$5,374,101$2,082,783$1,536,484$4,248,063
81$5,882,588$2,145,169$1,548,285$4,591,063
82$6,441,692$2,209,362$1,559,232$4,966,713
83$7,056,535$2,275,411$1,569,257$5,378,289
84$7,732,762$2,343,367$1,578,288$5,829,397
85$8,476,593$2,413,281$1,586,250$6,324,013
86$9,294,880$2,485,207$1,593,064$6,866,514
87$10,195,174$2,559,197$1,598,647$7,461,724
88$11,185,792$2,635,308$1,602,912$8,114,958
89$12,275,900$2,713,596$1,605,767$8,832,072
90$13,475,598$2,794,118$1,607,116$9,619,518
91$14,796,013$2,876,934$1,606,859$10,484,403
92$16,249,406$2,962,104$1,604,888$11,434,561
93$17,849,288$3,049,689$1,601,095$12,478,621
94$19,610,545$3,139,753$1,595,361$13,626,094
95$21,549,579$3,232,360$1,587,564$14,887,455
96$23,684,467$3,327,576$1,577,578$16,274,252
97$26,035,122$3,425,468$1,565,267$17,799,205
98$28,623,492$3,526,103$1,550,491$19,476,333
99$31,473,759$3,629,553$1,533,103$21,321,082
100$34,612,569$3,735,887$1,512,948$23,350,473