Can I retire at age 64 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$102,398$101,486$100,596$99,727$98,879$95,031
2 years$50,692$49,748$48,833$47,946$47,085$43,255
3 years$33,459$32,511$31,598$30,719$29,873$26,181
4 years$24,844$23,899$22,995$22,132$21,306$17,780
5 years$19,677$18,737$17,845$16,999$16,196$12,846
6 years$16,233$15,300$14,422$13,594$12,815$9,643
7 years$13,774$12,849$11,985$11,177$10,422$7,426
8 years$11,930$11,014$10,164$9,376$8,646$5,824
9 years$10,497$9,590$8,754$7,986$7,282$4,628
10 years$9,352$8,453$7,632$6,884$6,204$3,715
11 years$8,415$7,525$6,719$5,991$5,336$3,006
12 years$7,635$6,754$5,963$5,255$4,624$2,446
13 years$6,975$6,104$5,328$4,640$4,032$2,001
14 years$6,410$5,548$4,787$4,118$3,535$1,643
15 years$5,921$5,068$4,322$3,673$3,112$1,353
16 years$5,494$4,650$3,918$3,289$2,750$1,117
17 years$5,117$4,283$3,566$2,955$2,439$924
18 years$4,782$3,957$3,255$2,663$2,168$766
19 years$4,483$3,668$2,980$2,406$1,933$635
20 years$4,214$3,408$2,735$2,179$1,726$528
21 years$3,971$3,174$2,515$1,978$1,545$439
22 years$3,751$2,963$2,318$1,798$1,385$365
23 years$3,550$2,771$2,141$1,638$1,243$304
24 years$3,366$2,597$1,980$1,494$1,117$253
25 years$3,197$2,437$1,834$1,364$1,005$211
26 years$3,041$2,290$1,701$1,247$906$176
27 years$2,897$2,155$1,579$1,142$817$147
28 years$2,764$2,031$1,468$1,046$737$123
29 years$2,640$1,916$1,366$959$665$102
30 years$2,524$1,810$1,272$880$601$85
31 years$2,416$1,711$1,186$809$543$71
32 years$2,315$1,619$1,107$743$492$60
33 years$2,221$1,533$1,033$683$445$50
34 years$2,132$1,453$966$629$403$42
35 years$2,048$1,378$903$579$365$35
36 years$1,969$1,308$844$533$331$29
37 years$1,895$1,242$790$491$300$24
38 years$1,825$1,180$740$453$272$20
39 years$1,758$1,123$693$417$246$17
40 years$1,695$1,068$650$385$223$14
41 years$1,635$1,017$609$355$203$12
42 years$1,579$968$572$328$184$10
43 years$1,525$922$536$303$167$8
44 years$1,473$879$504$279$152$7
45 years$1,424$839$473$258$138$6
46 years$1,378$800$444$238$125$5
47 years$1,333$763$417$220$113$4
48 years$1,290$729$392$203$103$3
49 years$1,250$696$369$188$94$3
50 years$1,211$665$346$174$85$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,240,000, adding $6,844 every year, while hoping to spend $30,059 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: 52/18/30 Blend
63$1,240,000$1,240,000$1,240,000$1,240,000
64$1,373,540$1,307,820$1,288,600$1,433,058
65$1,481,658$1,339,920$1,299,785$1,507,351
66$1,599,797$1,372,586$1,310,338$1,584,562
67$1,728,947$1,405,814$1,320,205$1,667,978
68$1,870,199$1,439,598$1,329,331$1,758,207
69$2,024,752$1,473,931$1,337,657$1,855,916
70$2,193,930$1,508,806$1,345,121$1,961,843
71$2,379,187$1,544,214$1,351,659$2,076,800
72$2,582,127$1,580,144$1,357,202$2,201,683
73$2,804,515$1,616,582$1,361,679$2,337,478
74$3,048,295$1,653,514$1,365,015$2,485,275
75$3,315,609$1,690,924$1,367,132$2,646,272
76$3,608,816$1,728,794$1,367,945$2,821,793
77$3,930,512$1,767,102$1,367,368$3,013,294
78$4,283,560$1,805,826$1,365,311$3,222,384
79$4,671,111$1,844,939$1,361,676$3,450,833
80$5,096,637$1,884,413$1,356,365$3,700,595
81$5,563,962$1,924,218$1,349,272$3,973,823
82$6,077,300$1,964,318$1,340,286$4,272,891
83$6,641,291$2,004,677$1,329,292$4,600,415
84$7,261,049$2,045,252$1,316,170$4,959,280
85$7,942,206$2,085,999$1,300,791$5,352,667
86$8,690,968$2,126,870$1,283,025$5,784,081
87$9,514,171$2,167,811$1,262,730$6,257,387
88$10,419,348$2,208,765$1,239,763$6,776,844
89$11,414,797$2,249,670$1,213,970$7,347,151
90$12,509,661$2,290,458$1,185,193$7,973,483
91$13,714,013$2,331,058$1,153,264$8,661,549
92$15,038,953$2,371,390$1,118,009$9,417,640
93$16,496,709$2,411,371$1,079,245$10,248,690
94$18,100,756$2,450,911$1,036,782$11,162,346
95$19,865,939$2,489,911$990,420$12,167,034
96$21,808,616$2,528,268$939,951$13,272,044
97$23,946,811$2,565,870$885,155$14,487,615
98$26,300,384$2,602,596$825,806$15,825,036
99$28,891,218$2,638,318$761,666$17,296,747
100$31,743,425$2,672,898$692,485$18,916,464