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

Use the below retirement simulation to view the chances of a successful retirement.
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%
1 years$110,656$109,670$108,709$107,770$106,853$102,939
2 years$54,780$53,760$52,771$51,813$50,883$46,983
3 years$36,157$35,133$34,146$33,197$32,282$28,519
4 years$26,848$25,826$24,850$23,916$23,024$19,427
5 years$21,263$20,248$19,285$18,370$17,502$14,080
6 years$17,542$16,534$15,585$14,691$13,849$10,604
7 years$14,885$13,885$12,951$12,078$11,263$8,195
8 years$12,893$11,902$10,983$10,132$9,344$6,450
9 years$11,344$10,363$9,460$8,630$7,869$5,145
10 years$10,106$9,135$8,248$7,439$6,705$4,146
11 years$9,093$8,132$7,261$6,474$5,766$3,367
12 years$8,250$7,299$6,444$5,679$4,997$2,751
13 years$7,538$6,596$5,757$5,014$4,357$2,259
14 years$6,927$5,996$5,173$4,451$3,820$1,863
15 years$6,399$5,477$4,670$3,969$3,363$1,541
16 years$5,937$5,025$4,234$3,554$2,972$1,278
17 years$5,529$4,628$3,853$3,193$2,635$1,062
18 years$5,168$4,276$3,517$2,878$2,343$884
19 years$4,845$3,963$3,220$2,600$2,089$737
20 years$4,554$3,683$2,955$2,355$1,866$615
21 years$4,292$3,430$2,718$2,137$1,670$514
22 years$4,053$3,202$2,505$1,943$1,496$429
23 years$3,836$2,995$2,313$1,770$1,343$359
24 years$3,637$2,806$2,139$1,614$1,207$301
25 years$3,455$2,633$1,981$1,474$1,086$252
26 years$3,286$2,475$1,838$1,348$979$211
27 years$3,131$2,329$1,706$1,234$882$177
28 years$2,987$2,195$1,586$1,130$796$148
29 years$2,853$2,071$1,476$1,037$719$124
30 years$2,728$1,955$1,375$951$650$104
31 years$2,611$1,849$1,282$874$587$88
32 years$2,502$1,749$1,196$803$531$73
33 years$2,400$1,656$1,117$738$481$62
34 years$2,304$1,570$1,043$679$435$52
35 years$2,213$1,489$976$625$394$43
36 years$2,128$1,413$913$576$357$36
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$18
41 years$1,767$1,099$659$384$219$15
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$6
47 years$1,441$825$451$238$123$5
48 years$1,394$788$424$220$111$4
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 $2,920 every year, while hoping to spend $40,987 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: 33/42/25 Blend
63$1,340,000$1,340,000$1,340,000$1,340,000
64$1,479,692$1,408,672$1,387,902$1,517,148
65$1,587,011$1,434,087$1,390,787$1,571,038
66$1,703,902$1,459,374$1,392,395$1,625,189
67$1,831,300$1,484,483$1,392,639$1,682,732
68$1,970,230$1,509,360$1,391,431$1,743,995
69$2,121,824$1,533,949$1,388,674$1,809,339
70$2,287,325$1,558,187$1,384,269$1,879,164
71$2,468,103$1,582,009$1,378,113$1,953,911
72$2,665,666$1,605,344$1,370,096$2,034,070
73$2,881,673$1,628,115$1,360,104$2,120,181
74$3,117,952$1,650,242$1,348,016$2,212,842
75$3,376,517$1,671,637$1,333,708$2,312,714
76$3,659,581$1,692,207$1,317,047$2,420,528
77$3,969,586$1,711,852$1,297,895$2,537,093
78$4,309,218$1,730,467$1,276,109$2,663,301
79$4,681,436$1,747,939$1,251,537$2,800,139
80$5,089,501$1,764,146$1,224,021$2,948,700
81$5,537,000$1,778,959$1,193,397$3,110,188
82$6,027,888$1,792,242$1,159,489$3,285,937
83$6,566,520$1,803,849$1,122,119$3,477,420
84$7,157,691$1,813,623$1,081,096$3,686,263
85$7,806,685$1,821,400$1,036,222$3,914,263
86$8,519,322$1,827,004$987,291$4,163,407
87$9,302,013$1,830,248$934,086$4,435,888
88$10,161,821$1,830,933$876,380$4,734,128
89$11,106,526$1,828,848$813,938$5,060,803
90$12,144,699$1,823,769$746,513$5,418,867
91$13,285,783$1,815,458$673,846$5,811,583
92$14,540,181$1,803,664$595,668$6,242,555
93$15,919,354$1,788,118$511,697$6,715,758
94$17,435,929$1,768,536$421,639$7,235,585
95$19,103,817$1,744,618$325,188$7,806,882
96$20,938,347$1,716,045$222,022$8,435,001
97$22,956,407$1,682,479$111,808$9,125,849
98$25,176,602$1,643,562$0$9,885,943
99$27,619,434$1,598,916$0$10,724,028
100$30,307,492$1,548,138$0$11,678,424