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%13.1%
1 years$102,398$101,486$100,596$99,727$98,879$97,603
2 years$50,692$49,748$48,833$47,946$47,085$45,802
3 years$33,459$32,511$31,598$30,719$29,873$28,621
4 years$24,844$23,899$22,995$22,132$21,306$20,096
5 years$19,677$18,737$17,845$16,999$16,196$15,032
6 years$16,233$15,300$14,422$13,594$12,815$11,698
7 years$13,774$12,849$11,985$11,177$10,422$9,352
8 years$11,930$11,014$10,164$9,376$8,646$7,623
9 years$10,497$9,590$8,754$7,986$7,282$6,305
10 years$9,352$8,453$7,632$6,884$6,204$5,273
11 years$8,415$7,525$6,719$5,991$5,336$4,450
12 years$7,635$6,754$5,963$5,255$4,624$3,782
13 years$6,975$6,104$5,328$4,640$4,032$3,233
14 years$6,410$5,548$4,787$4,118$3,535$2,777
15 years$5,921$5,068$4,322$3,673$3,112$2,395
16 years$5,494$4,650$3,918$3,289$2,750$2,073
17 years$5,117$4,283$3,566$2,955$2,439$1,799
18 years$4,782$3,957$3,255$2,663$2,168$1,565
19 years$4,483$3,668$2,980$2,406$1,933$1,365
20 years$4,214$3,408$2,735$2,179$1,726$1,192
21 years$3,971$3,174$2,515$1,978$1,545$1,042
22 years$3,751$2,963$2,318$1,798$1,385$913
23 years$3,550$2,771$2,141$1,638$1,243$801
24 years$3,366$2,597$1,980$1,494$1,117$703
25 years$3,197$2,437$1,834$1,364$1,005$618
26 years$3,041$2,290$1,701$1,247$906$543
27 years$2,897$2,155$1,579$1,142$817$478
28 years$2,764$2,031$1,468$1,046$737$421
29 years$2,640$1,916$1,366$959$665$370
30 years$2,524$1,810$1,272$880$601$326
31 years$2,416$1,711$1,186$809$543$288
32 years$2,315$1,619$1,107$743$492$254
33 years$2,221$1,533$1,033$683$445$224
34 years$2,132$1,453$966$629$403$198
35 years$2,048$1,378$903$579$365$174
36 years$1,969$1,308$844$533$331$154
37 years$1,895$1,242$790$491$300$136
38 years$1,825$1,180$740$453$272$120
39 years$1,758$1,123$693$417$246$106
40 years$1,695$1,068$650$385$223$94
41 years$1,635$1,017$609$355$203$83
42 years$1,579$968$572$328$184$73
43 years$1,525$922$536$303$167$65
44 years$1,473$879$504$279$152$57
45 years$1,424$839$473$258$138$50
46 years$1,378$800$444$238$125$45
47 years$1,333$763$417$220$113$39
48 years$1,290$729$392$203$103$35
49 years$1,250$696$369$188$94$31
50 years$1,211$665$346$174$85$27

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 $2,930 every year, while hoping to spend $59,725 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: 50/27/23 Blend
63$1,240,000$1,240,000$1,240,000$1,240,000
64$1,369,502$1,303,782$1,284,562$1,428,995
65$1,445,645$1,304,121$1,264,048$1,470,958
66$1,527,552$1,302,474$1,240,845$1,510,251
67$1,615,748$1,298,682$1,214,800$1,551,731
68$1,710,812$1,292,574$1,185,753$1,595,629
69$1,813,374$1,283,970$1,153,535$1,642,204
70$1,924,132$1,272,678$1,117,972$1,691,743
71$2,043,850$1,258,495$1,078,880$1,744,566
72$2,173,367$1,241,207$1,036,068$1,801,031
73$2,313,609$1,220,584$989,334$1,861,533
74$2,465,590$1,196,385$938,470$1,926,514
75$2,630,426$1,168,354$883,255$1,996,465
76$2,809,346$1,136,220$823,460$2,071,932
77$3,003,701$1,099,696$758,847$2,153,520
78$3,214,975$1,058,478$689,166$2,241,904
79$3,444,804$1,012,245$614,154$2,337,829
80$3,694,985$960,656$533,539$2,442,127
81$3,967,497$903,352$447,036$2,555,718
82$4,264,517$839,952$354,348$2,679,624
83$4,588,442$770,054$255,163$2,814,976
84$4,941,909$693,232$149,157$2,963,032
85$5,327,822$609,038$35,991$3,125,183
86$5,749,375$516,997$0$3,302,972
87$6,210,088$416,606$0$3,518,912
88$6,713,832$307,335$0$3,764,870
89$7,264,874$188,625$0$4,034,195
90$7,867,908$59,885$0$4,329,305
91$8,528,105$0$0$4,652,873
92$9,251,159$0$0$5,031,470
93$10,043,340$0$0$5,465,885
94$10,911,553$0$0$5,942,129
95$11,863,403$0$0$6,464,389
96$12,907,267$0$0$7,037,279
97$14,052,369$0$0$7,665,879
98$15,308,871$0$0$8,355,787
99$16,687,966$0$0$9,113,167
100$18,201,983$0$0$9,944,810