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%11.7%
1 years$110,656$109,670$108,709$107,770$106,853$106,091
2 years$54,780$53,760$52,771$51,813$50,883$50,114
3 years$36,157$35,133$34,146$33,197$32,282$31,531
4 years$26,848$25,826$24,850$23,916$23,024$22,296
5 years$21,263$20,248$19,285$18,370$17,502$16,800
6 years$17,542$16,534$15,585$14,691$13,849$13,173
7 years$14,885$13,885$12,951$12,078$11,263$10,613
8 years$12,893$11,902$10,983$10,132$9,344$8,720
9 years$11,344$10,363$9,460$8,630$7,869$7,272
10 years$10,106$9,135$8,248$7,439$6,705$6,134
11 years$9,093$8,132$7,261$6,474$5,766$5,221
12 years$8,250$7,299$6,444$5,679$4,997$4,477
13 years$7,538$6,596$5,757$5,014$4,357$3,862
14 years$6,927$5,996$5,173$4,451$3,820$3,348
15 years$6,399$5,477$4,670$3,969$3,363$2,915
16 years$5,937$5,025$4,234$3,554$2,972$2,547
17 years$5,529$4,628$3,853$3,193$2,635$2,232
18 years$5,168$4,276$3,517$2,878$2,343$1,962
19 years$4,845$3,963$3,220$2,600$2,089$1,728
20 years$4,554$3,683$2,955$2,355$1,866$1,524
21 years$4,292$3,430$2,718$2,137$1,670$1,347
22 years$4,053$3,202$2,505$1,943$1,496$1,193
23 years$3,836$2,995$2,313$1,770$1,343$1,057
24 years$3,637$2,806$2,139$1,614$1,207$938
25 years$3,455$2,633$1,981$1,474$1,086$833
26 years$3,286$2,475$1,838$1,348$979$741
27 years$3,131$2,329$1,706$1,234$882$659
28 years$2,987$2,195$1,586$1,130$796$587
29 years$2,853$2,071$1,476$1,037$719$523
30 years$2,728$1,955$1,375$951$650$466
31 years$2,611$1,849$1,282$874$587$415
32 years$2,502$1,749$1,196$803$531$371
33 years$2,400$1,656$1,117$738$481$331
34 years$2,304$1,570$1,043$679$435$295
35 years$2,213$1,489$976$625$394$264
36 years$2,128$1,413$913$576$357$236
37 years$2,048$1,342$854$531$324$210
38 years$1,972$1,276$800$489$294$188
39 years$1,900$1,213$749$451$266$168
40 years$1,832$1,154$702$416$241$150
41 years$1,767$1,099$659$384$219$134
42 years$1,706$1,046$618$354$199$120
43 years$1,648$997$580$327$180$107
44 years$1,592$950$544$302$164$96
45 years$1,539$906$511$279$149$86
46 years$1,489$864$480$258$135$77
47 years$1,441$825$451$238$123$69
48 years$1,394$788$424$220$111$62
49 years$1,350$752$398$203$101$55
50 years$1,308$718$374$188$92$49

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 $4,749 every year, while hoping to spend $32,682 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: 39/47/14 Blend
63$1,340,000$1,340,000$1,340,000$1,340,000
64$1,481,579$1,410,559$1,389,789$1,532,958
65$1,597,926$1,444,903$1,401,573$1,604,278
66$1,725,046$1,479,834$1,412,657$1,677,811
67$1,864,002$1,515,347$1,422,982$1,756,611
68$2,015,966$1,551,435$1,432,488$1,841,169
69$2,182,228$1,588,089$1,441,110$1,932,025
70$2,364,209$1,625,299$1,448,781$2,029,776
71$2,563,473$1,663,054$1,455,430$2,135,078
72$2,781,743$1,701,339$1,460,982$2,248,654
73$3,020,915$1,740,138$1,465,359$2,371,300
74$3,283,079$1,779,436$1,468,479$2,503,894
75$3,570,535$1,819,210$1,470,256$2,647,402
76$3,885,819$1,859,440$1,470,598$2,802,889
77$4,231,720$1,900,101$1,469,411$2,971,530
78$4,611,314$1,941,165$1,466,595$3,154,618
79$5,027,988$1,982,602$1,462,046$3,353,578
80$5,485,471$2,024,378$1,455,653$3,569,981
81$5,987,874$2,066,456$1,447,302$3,805,559
82$6,539,722$2,108,798$1,436,872$4,062,220
83$7,146,003$2,151,359$1,424,236$4,342,068
84$7,812,211$2,194,090$1,409,263$4,647,422
85$8,544,397$2,236,941$1,391,814$4,980,836
86$9,349,229$2,279,855$1,371,744$5,345,128
87$10,234,053$2,322,771$1,348,900$5,743,404
88$11,206,963$2,365,623$1,323,124$6,179,084
89$12,276,873$2,408,339$1,294,249$6,655,944
90$13,453,609$2,450,842$1,262,101$7,178,141
91$14,747,993$2,493,049$1,226,498$7,750,260
92$16,171,952$2,534,872$1,187,248$8,377,355
93$17,738,623$2,576,212$1,144,153$9,064,996
94$19,462,484$2,616,969$1,097,004$9,819,326
95$21,359,487$2,657,030$1,045,583$10,647,113
96$23,447,207$2,696,276$989,662$11,555,819
97$25,745,009$2,734,581$929,003$12,553,670
98$28,274,232$2,771,807$863,357$13,649,734
99$31,058,387$2,807,809$792,463$14,854,007
100$34,123,382$2,842,432$716,050$16,177,506