Can I retire at age 64 with 1,420,000?

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 $1,420,000?

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$117,262$116,218$115,199$114,204$113,233$110,406
2 years$58,051$56,969$55,922$54,906$53,920$51,090
3 years$38,316$37,230$36,185$35,179$34,209$31,464
4 years$28,451$27,368$26,333$25,344$24,398$21,760
5 years$22,533$21,457$20,436$19,467$18,547$16,022
6 years$18,589$17,521$16,515$15,568$14,676$12,267
7 years$15,773$14,714$13,724$12,799$11,935$9,643
8 years$13,662$12,613$11,639$10,737$9,902$7,725
9 years$12,021$10,982$10,025$9,145$8,339$6,275
10 years$10,709$9,680$8,740$7,883$7,105$5,153
11 years$9,636$8,617$7,694$6,861$6,110$4,267
12 years$8,743$7,735$6,829$6,018$5,295$3,557
13 years$7,988$6,990$6,101$5,313$4,617$2,981
14 years$7,341$6,354$5,482$4,716$4,048$2,509
15 years$6,781$5,804$4,949$4,206$3,564$2,120
16 years$6,291$5,325$4,487$3,766$3,150$1,796
17 years$5,860$4,904$4,083$3,384$2,793$1,526
18 years$5,476$4,532$3,727$3,049$2,483$1,299
19 years$5,134$4,200$3,412$2,755$2,213$1,107
20 years$4,826$3,903$3,132$2,496$1,977$946
21 years$4,548$3,635$2,880$2,265$1,769$808
22 years$4,295$3,393$2,655$2,059$1,586$692
23 years$4,065$3,174$2,451$1,875$1,424$593
24 years$3,855$2,974$2,267$1,711$1,280$508
25 years$3,661$2,791$2,100$1,562$1,151$436
26 years$3,483$2,623$1,947$1,428$1,037$374
27 years$3,318$2,468$1,808$1,307$935$321
28 years$3,165$2,326$1,681$1,198$844$276
29 years$3,023$2,194$1,564$1,098$762$237
30 years$2,891$2,072$1,457$1,008$688$204
31 years$2,767$1,959$1,358$926$622$176
32 years$2,651$1,854$1,267$851$563$151
33 years$2,543$1,755$1,183$782$509$130
34 years$2,441$1,664$1,106$720$461$112
35 years$2,346$1,578$1,034$663$418$96
36 years$2,255$1,498$967$610$379$83
37 years$2,170$1,422$905$562$343$71
38 years$2,090$1,352$848$518$311$61
39 years$2,014$1,285$794$478$282$53
40 years$1,941$1,223$744$441$256$45
41 years$1,873$1,164$698$407$232$39
42 years$1,808$1,109$655$375$211$34
43 years$1,746$1,056$614$347$191$29
44 years$1,687$1,007$577$320$173$25
45 years$1,631$960$541$295$158$22
46 years$1,578$916$509$273$143$19
47 years$1,527$874$478$252$130$16
48 years$1,478$835$449$233$118$14
49 years$1,431$797$422$215$107$12
50 years$1,386$761$397$199$97$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,420,000, adding $5,309 every year, while hoping to spend $27,211 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: 52/20/28 Blend
63$1,420,000$1,420,000$1,420,000$1,420,000
64$1,570,316$1,495,056$1,473,046$1,639,391
65$1,701,536$1,539,362$1,493,441$1,732,269
66$1,845,229$1,584,926$1,513,607$1,830,072
67$2,002,637$1,631,782$1,533,508$1,935,930
68$2,175,130$1,679,964$1,553,105$2,050,626
69$2,364,218$1,729,506$1,572,358$2,175,018
70$2,571,559$1,780,443$1,591,223$2,310,053
71$2,798,984$1,832,811$1,609,655$2,456,774
72$3,048,508$1,886,647$1,627,606$2,616,330
73$3,322,351$1,941,987$1,645,026$2,789,986
74$3,622,956$1,998,871$1,661,860$2,979,135
75$3,953,018$2,057,335$1,678,052$3,185,313
76$4,315,503$2,117,421$1,693,544$3,410,209
77$4,713,678$2,179,169$1,708,271$3,655,689
78$5,151,143$2,242,619$1,722,169$3,923,803
79$5,631,866$2,307,813$1,735,167$4,216,814
80$6,160,214$2,374,793$1,747,193$4,537,213
81$6,741,001$2,443,604$1,758,170$4,887,745
82$7,379,531$2,514,288$1,768,016$5,271,435
83$8,081,645$2,586,891$1,776,647$5,691,616
84$8,853,782$2,661,457$1,783,973$6,151,960
85$9,703,032$2,738,033$1,789,901$6,656,515
86$10,637,211$2,816,665$1,794,332$7,209,738
87$11,664,926$2,897,401$1,797,161$7,816,543
88$12,795,663$2,980,289$1,798,282$8,482,345
89$14,039,875$3,065,378$1,797,578$9,213,111
90$15,409,077$3,152,715$1,794,931$10,015,414
91$16,915,956$3,242,353$1,790,215$10,896,501
92$18,574,495$3,334,339$1,783,299$11,864,355
93$20,400,098$3,428,726$1,774,044$12,927,775
94$22,409,739$3,525,565$1,762,305$14,096,456
95$24,622,122$3,624,907$1,747,932$15,381,084
96$27,057,855$3,726,804$1,730,764$16,793,434
97$29,739,648$3,831,309$1,710,636$18,346,481
98$32,692,523$3,938,474$1,687,374$20,054,526
99$35,944,053$4,048,352$1,660,794$21,933,327
100$39,524,622$4,160,997$1,630,706$24,000,251