Can I retire at age 64 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$110,656$109,670$108,709$107,770$106,853$102,980
2 years$54,780$53,760$52,771$51,813$50,883$47,023
3 years$36,157$35,133$34,146$33,197$32,282$28,557
4 years$26,848$25,826$24,850$23,916$23,024$19,462
5 years$21,263$20,248$19,285$18,370$17,502$14,113
6 years$17,542$16,534$15,585$14,691$13,849$10,635
7 years$14,885$13,885$12,951$12,078$11,263$8,223
8 years$12,893$11,902$10,983$10,132$9,344$6,476
9 years$11,344$10,363$9,460$8,630$7,869$5,169
10 years$10,106$9,135$8,248$7,439$6,705$4,168
11 years$9,093$8,132$7,261$6,474$5,766$3,387
12 years$8,250$7,299$6,444$5,679$4,997$2,770
13 years$7,538$6,596$5,757$5,014$4,357$2,276
14 years$6,927$5,996$5,173$4,451$3,820$1,878
15 years$6,399$5,477$4,670$3,969$3,363$1,554
16 years$5,937$5,025$4,234$3,554$2,972$1,290
17 years$5,529$4,628$3,853$3,193$2,635$1,072
18 years$5,168$4,276$3,517$2,878$2,343$893
19 years$4,845$3,963$3,220$2,600$2,089$745
20 years$4,554$3,683$2,955$2,355$1,866$623
21 years$4,292$3,430$2,718$2,137$1,670$521
22 years$4,053$3,202$2,505$1,943$1,496$436
23 years$3,836$2,995$2,313$1,770$1,343$365
24 years$3,637$2,806$2,139$1,614$1,207$306
25 years$3,455$2,633$1,981$1,474$1,086$256
26 years$3,286$2,475$1,838$1,348$979$215
27 years$3,131$2,329$1,706$1,234$882$180
28 years$2,987$2,195$1,586$1,130$796$151
29 years$2,853$2,071$1,476$1,037$719$127
30 years$2,728$1,955$1,375$951$650$107
31 years$2,611$1,849$1,282$874$587$89
32 years$2,502$1,749$1,196$803$531$75
33 years$2,400$1,656$1,117$738$481$63
34 years$2,304$1,570$1,043$679$435$53
35 years$2,213$1,489$976$625$394$44
36 years$2,128$1,413$913$576$357$37
37 years$2,048$1,342$854$531$324$31
38 years$1,972$1,276$800$489$294$26
39 years$1,900$1,213$749$451$266$22
40 years$1,832$1,154$702$416$241$19
41 years$1,767$1,099$659$384$219$16
42 years$1,706$1,046$618$354$199$13
43 years$1,648$997$580$327$180$11
44 years$1,592$950$544$302$164$9
45 years$1,539$906$511$279$149$8
46 years$1,489$864$480$258$135$7
47 years$1,441$825$451$238$123$6
48 years$1,394$788$424$220$111$5
49 years$1,350$752$398$203$101$4
50 years$1,308$718$374$188$92$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,340,000, adding $4,295 every year, while hoping to spend $48,283 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: 61/15/24 Blend
63$1,340,000$1,340,000$1,340,000$1,340,000
64$1,481,110$1,410,090$1,389,320$1,561,773
65$1,580,811$1,427,812$1,384,490$1,634,715
66$1,689,063$1,444,784$1,377,879$1,708,640
67$1,806,687$1,460,918$1,369,378$1,788,269
68$1,934,587$1,476,121$1,358,870$1,874,166
69$2,073,757$1,490,293$1,346,234$1,966,952
70$2,225,290$1,503,327$1,331,343$2,067,315
71$2,390,390$1,515,111$1,314,063$2,176,013
72$2,570,380$1,525,522$1,294,256$2,293,883
73$2,766,720$1,534,433$1,271,774$2,421,848
74$2,981,012$1,541,707$1,246,465$2,560,927
75$3,215,022$1,547,198$1,218,169$2,712,245
76$3,470,695$1,550,751$1,186,718$2,877,043
77$3,750,170$1,552,202$1,151,937$3,056,690
78$4,055,804$1,551,377$1,113,644$3,252,697
79$4,390,191$1,548,089$1,071,646$3,466,732
80$4,756,187$1,542,142$1,025,742$3,700,634
81$5,156,938$1,533,327$975,724$3,956,433
82$5,595,908$1,521,422$921,373$4,236,369
83$6,076,911$1,506,192$862,459$4,542,912
84$6,604,148$1,487,387$798,744$4,878,788
85$7,182,245$1,464,744$729,977$5,247,004
86$7,816,300$1,437,982$655,897$5,650,876
87$8,511,925$1,406,806$576,231$6,094,064
88$9,275,302$1,370,899$490,696$6,580,603
89$10,113,241$1,329,932$398,992$7,114,946
90$11,033,243$1,283,550$300,810$7,702,003
91$12,043,571$1,231,382$195,825$8,347,190
92$13,153,329$1,173,033$83,698$9,056,479
93$14,372,543$1,108,086$0$9,836,459
94$15,712,261$1,036,100$0$10,703,604
95$17,184,652$956,610$0$11,680,189
96$18,803,124$869,121$0$12,753,693
97$20,582,447$773,112$0$13,933,961
98$22,538,896$668,034$0$15,231,847
99$24,690,399$553,304$0$16,659,310
100$27,056,711$428,306$0$18,229,532