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%16.1%
1 years$109,004$108,033$107,086$106,161$105,259$102,631
2 years$53,963$52,958$51,984$51,039$50,123$47,492
3 years$35,618$34,608$33,637$32,701$31,800$29,249
4 years$26,447$25,441$24,479$23,559$22,680$20,227
5 years$20,946$19,946$18,997$18,096$17,241$14,894
6 years$17,280$16,287$15,352$14,471$13,642$11,403
7 years$14,662$13,678$12,758$11,898$11,095$8,964
8 years$12,700$11,725$10,820$9,981$9,204$7,181
9 years$11,175$10,208$9,319$8,501$7,751$5,833
10 years$9,955$8,998$8,124$7,328$6,604$4,790
11 years$8,958$8,011$7,153$6,378$5,680$3,966
12 years$8,127$7,190$6,348$5,594$4,922$3,306
13 years$7,425$6,498$5,671$4,939$4,292$2,771
14 years$6,824$5,906$5,096$4,384$3,763$2,332
15 years$6,303$5,395$4,601$3,910$3,313$1,970
16 years$5,848$4,950$4,171$3,501$2,928$1,670
17 years$5,447$4,559$3,796$3,146$2,596$1,418
18 years$5,091$4,213$3,465$2,835$2,308$1,207
19 years$4,772$3,904$3,172$2,561$2,057$1,029
20 years$4,486$3,628$2,911$2,320$1,838$879
21 years$4,228$3,379$2,678$2,105$1,645$752
22 years$3,993$3,154$2,468$1,914$1,474$643
23 years$3,779$2,950$2,279$1,743$1,323$551
24 years$3,583$2,764$2,107$1,590$1,189$472
25 years$3,403$2,594$1,952$1,452$1,070$405
26 years$3,237$2,438$1,810$1,328$964$348
27 years$3,084$2,294$1,681$1,215$869$299
28 years$2,942$2,162$1,563$1,114$784$257
29 years$2,810$2,040$1,454$1,021$708$221
30 years$2,687$1,926$1,355$937$640$190
31 years$2,572$1,821$1,263$861$579$163
32 years$2,465$1,723$1,178$791$523$140
33 years$2,364$1,632$1,100$727$474$121
34 years$2,269$1,546$1,028$669$429$104
35 years$2,180$1,467$961$616$388$89
36 years$2,096$1,392$899$567$352$77
37 years$2,017$1,322$841$523$319$66
38 years$1,943$1,257$788$482$289$57
39 years$1,872$1,195$738$444$262$49
40 years$1,805$1,137$692$410$238$42
41 years$1,741$1,082$649$378$216$36
42 years$1,681$1,031$609$349$196$31
43 years$1,623$982$571$322$178$27
44 years$1,568$936$536$297$161$23
45 years$1,516$893$503$275$146$20
46 years$1,466$852$473$254$133$17
47 years$1,419$813$444$234$121$15
48 years$1,374$776$417$217$110$13
49 years$1,330$741$392$200$100$11
50 years$1,289$708$369$185$90$9

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 $4,439 every year, while hoping to spend $38,051 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: 64/25/11 Blend
63$1,320,000$1,320,000$1,320,000$1,320,000
64$1,459,219$1,389,259$1,368,799$1,548,731
65$1,567,573$1,416,847$1,374,168$1,636,656
66$1,685,704$1,444,511$1,378,441$1,727,816
67$1,814,569$1,472,215$1,381,542$1,826,427
68$1,955,222$1,499,920$1,383,390$1,933,212
69$2,108,821$1,527,583$1,383,900$2,048,969
70$2,276,644$1,555,157$1,382,984$2,174,575
71$2,460,095$1,582,593$1,380,547$2,310,999
72$2,660,722$1,609,838$1,376,493$2,459,306
73$2,880,229$1,636,833$1,370,719$2,620,672
74$3,120,491$1,663,517$1,363,116$2,796,390
75$3,383,574$1,689,822$1,353,574$2,987,887
76$3,671,752$1,715,676$1,341,972$3,196,736
77$3,987,531$1,741,004$1,328,188$3,424,670
78$4,333,668$1,765,723$1,312,092$3,673,596
79$4,713,203$1,789,744$1,293,547$3,945,621
80$5,129,482$1,812,974$1,272,414$4,243,064
81$5,586,191$1,835,311$1,248,541$4,568,480
82$6,087,389$1,856,648$1,221,774$4,924,688
83$6,637,549$1,876,870$1,191,949$5,314,792
84$7,241,596$1,895,854$1,158,897$5,742,217
85$7,904,957$1,913,469$1,122,438$6,210,734
86$8,633,610$1,929,576$1,082,387$6,724,501
87$9,434,139$1,944,026$1,038,548$7,288,103
88$10,313,799$1,956,661$990,717$7,906,590
89$11,280,581$1,967,313$938,681$8,585,532
90$12,343,291$1,975,802$882,217$9,331,065
91$13,511,628$1,981,938$821,093$10,149,955
92$14,796,279$1,985,518$755,065$11,049,658
93$16,209,018$1,986,327$683,878$12,038,393
94$17,762,818$1,984,136$607,268$13,125,220
95$19,471,970$1,978,704$524,956$14,320,123
96$21,352,222$1,969,771$436,653$15,634,108
97$23,420,924$1,957,065$342,056$17,079,307
98$25,697,193$1,940,296$240,850$18,669,090
99$28,202,093$1,919,157$132,704$20,418,196
100$30,958,832$1,893,321$17,275$22,342,868