Can I retire at age 64 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$109,004$108,033$107,086$106,161$105,259$104,551
2 years$53,963$52,958$51,984$51,039$50,123$49,410
3 years$35,618$34,608$33,637$32,701$31,800$31,103
4 years$26,447$25,441$24,479$23,559$22,680$22,004
5 years$20,946$19,946$18,997$18,096$17,241$16,589
6 years$17,280$16,287$15,352$14,471$13,642$13,014
7 years$14,662$13,678$12,758$11,898$11,095$10,491
8 years$12,700$11,725$10,820$9,981$9,204$8,625
9 years$11,175$10,208$9,319$8,501$7,751$7,197
10 years$9,955$8,998$8,124$7,328$6,604$6,074
11 years$8,958$8,011$7,153$6,378$5,680$5,173
12 years$8,127$7,190$6,348$5,594$4,922$4,439
13 years$7,425$6,498$5,671$4,939$4,292$3,832
14 years$6,824$5,906$5,096$4,384$3,763$3,324
15 years$6,303$5,395$4,601$3,910$3,313$2,896
16 years$5,848$4,950$4,171$3,501$2,928$2,532
17 years$5,447$4,559$3,796$3,146$2,596$2,221
18 years$5,091$4,213$3,465$2,835$2,308$1,953
19 years$4,772$3,904$3,172$2,561$2,057$1,721
20 years$4,486$3,628$2,911$2,320$1,838$1,520
21 years$4,228$3,379$2,678$2,105$1,645$1,344
22 years$3,993$3,154$2,468$1,914$1,474$1,191
23 years$3,779$2,950$2,279$1,743$1,323$1,056
24 years$3,583$2,764$2,107$1,590$1,189$938
25 years$3,403$2,594$1,952$1,452$1,070$834
26 years$3,237$2,438$1,810$1,328$964$742
27 years$3,084$2,294$1,681$1,215$869$661
28 years$2,942$2,162$1,563$1,114$784$589
29 years$2,810$2,040$1,454$1,021$708$525
30 years$2,687$1,926$1,355$937$640$468
31 years$2,572$1,821$1,263$861$579$418
32 years$2,465$1,723$1,178$791$523$373
33 years$2,364$1,632$1,100$727$474$333
34 years$2,269$1,546$1,028$669$429$298
35 years$2,180$1,467$961$616$388$266
36 years$2,096$1,392$899$567$352$238
37 years$2,017$1,322$841$523$319$213
38 years$1,943$1,257$788$482$289$190
39 years$1,872$1,195$738$444$262$170
40 years$1,805$1,137$692$410$238$152
41 years$1,741$1,082$649$378$216$136
42 years$1,681$1,031$609$349$196$122
43 years$1,623$982$571$322$178$109
44 years$1,568$936$536$297$161$98
45 years$1,516$893$503$275$146$88
46 years$1,466$852$473$254$133$78
47 years$1,419$813$444$234$121$70
48 years$1,374$776$417$217$110$63
49 years$1,330$741$392$200$100$56
50 years$1,289$708$369$185$90$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,320,000, adding $3,735 every year, while hoping to spend $51,772 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: 61/18/21 Blend
63$1,320,000$1,320,000$1,320,000$1,320,000
64$1,458,493$1,388,533$1,368,073$1,539,230
65$1,552,174$1,401,486$1,358,818$1,607,243
66$1,653,675$1,413,338$1,347,518$1,675,395
67$1,763,740$1,423,982$1,334,050$1,748,609
68$1,883,186$1,433,301$1,318,285$1,827,385
69$2,012,910$1,441,172$1,300,087$1,912,273
70$2,153,902$1,447,464$1,279,314$2,003,884
71$2,307,249$1,452,039$1,255,820$2,102,890
72$2,474,147$1,454,748$1,229,449$2,210,033
73$2,655,912$1,455,433$1,200,038$2,326,135
74$2,853,995$1,453,928$1,167,419$2,452,099
75$3,069,987$1,450,056$1,131,412$2,588,927
76$3,305,645$1,443,628$1,091,834$2,737,722
77$3,562,899$1,434,444$1,048,489$2,899,702
78$3,843,876$1,422,292$1,001,174$3,076,214
79$4,150,915$1,406,949$949,677$3,268,740
80$4,486,594$1,388,175$893,777$3,478,922
81$4,853,749$1,365,718$833,241$3,708,568
82$5,255,503$1,339,310$767,827$3,959,675
83$5,695,297$1,308,669$697,281$4,234,446
84$6,176,918$1,273,494$621,340$4,535,314
85$6,704,535$1,233,467$539,727$4,864,963
86$7,282,744$1,188,253$452,154$5,226,354
87$7,916,601$1,137,495$358,319$5,622,756
88$8,611,679$1,080,817$257,907$6,057,774
89$9,374,114$1,017,820$150,590$6,535,388
90$10,210,664$948,084$36,026$7,059,987
91$11,128,775$871,164$0$7,636,415
92$12,136,647$786,587$0$8,289,336
93$13,243,313$693,858$0$9,015,193
94$14,458,724$592,450$0$9,812,494
95$15,793,842$481,808$0$10,688,502
96$17,260,741$361,345$0$11,651,224
97$18,872,727$230,440$0$12,709,485
98$20,644,453$88,440$0$13,873,012
99$22,592,067$0$0$15,152,528
100$24,733,357$0$0$16,572,796