Can I retire at age 64 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$125,520$124,402$123,311$122,247$121,207$120,494
2 years$62,139$60,981$59,860$58,772$57,718$56,998
3 years$41,014$39,852$38,733$37,656$36,618$35,915
4 years$30,454$29,295$28,188$27,129$26,117$25,434
5 years$24,120$22,968$21,875$20,838$19,853$19,194
6 years$19,898$18,755$17,678$16,664$15,709$15,075
7 years$16,884$15,751$14,691$13,700$12,776$12,166
8 years$14,624$13,501$12,459$11,493$10,599$10,013
9 years$12,868$11,755$10,731$9,789$8,926$8,365
10 years$11,463$10,362$9,355$8,439$7,605$7,068
11 years$10,315$9,224$8,236$7,344$6,541$6,027
12 years$9,359$8,279$7,310$6,442$5,668$5,178
13 years$8,550$7,482$6,531$5,687$4,943$4,476
14 years$7,858$6,801$5,868$5,048$4,333$3,888
15 years$7,258$6,213$5,298$4,502$3,815$3,392
16 years$6,734$5,700$4,803$4,031$3,372$2,970
17 years$6,272$5,250$4,371$3,622$2,989$2,608
18 years$5,862$4,851$3,990$3,264$2,658$2,297
19 years$5,495$4,496$3,653$2,950$2,369$2,027
20 years$5,166$4,178$3,352$2,671$2,116$1,792
21 years$4,868$3,891$3,083$2,424$1,894$1,588
22 years$4,598$3,632$2,842$2,204$1,698$1,409
23 years$4,352$3,397$2,624$2,008$1,524$1,251
24 years$4,126$3,183$2,427$1,831$1,370$1,113
25 years$3,919$2,987$2,248$1,672$1,232$991
26 years$3,728$2,807$2,084$1,529$1,110$883
27 years$3,551$2,642$1,936$1,399$1,001$787
28 years$3,388$2,490$1,799$1,282$903$703
29 years$3,236$2,349$1,675$1,176$815$627
30 years$3,094$2,218$1,560$1,079$737$561
31 years$2,962$2,097$1,454$991$666$501
32 years$2,838$1,984$1,357$911$603$448
33 years$2,722$1,879$1,267$838$545$401
34 years$2,613$1,781$1,184$771$494$359
35 years$2,511$1,689$1,107$709$447$321
36 years$2,414$1,603$1,035$653$405$288
37 years$2,323$1,523$969$602$367$258
38 years$2,237$1,447$907$555$333$231
39 years$2,155$1,376$850$512$302$207
40 years$2,078$1,309$797$472$274$185
41 years$2,005$1,246$747$435$248$166
42 years$1,935$1,187$701$402$225$149
43 years$1,869$1,131$658$371$205$134
44 years$1,806$1,078$617$342$186$120
45 years$1,746$1,028$580$316$169$108
46 years$1,689$981$544$292$153$96
47 years$1,634$936$511$270$139$86
48 years$1,582$893$481$249$126$78
49 years$1,532$853$452$231$115$70
50 years$1,484$815$425$213$104$62

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,520,000, adding $4,685 every year, while hoping to spend $22,742 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: 36/35/29 Blend
63$1,520,000$1,520,000$1,520,000$1,520,000
64$1,679,873$1,599,313$1,575,753$1,725,596
65$1,827,022$1,653,482$1,604,343$1,814,276
66$1,988,419$1,709,543$1,633,129$1,907,564
67$2,165,492$1,767,564$1,662,093$2,007,847
68$2,359,815$1,827,618$1,691,216$2,115,768
69$2,573,123$1,889,778$1,720,479$2,232,037
70$2,807,326$1,954,121$1,749,859$2,357,434
71$3,064,527$2,020,727$1,779,333$2,492,815
72$3,347,044$2,089,678$1,808,876$2,639,124
73$3,657,431$2,161,061$1,838,462$2,797,396
74$3,998,501$2,234,965$1,868,062$2,968,773
75$4,373,352$2,311,482$1,897,647$3,154,508
76$4,785,399$2,390,710$1,927,182$3,355,982
77$5,238,402$2,472,747$1,956,636$3,574,714
78$5,736,506$2,557,699$1,985,970$3,812,373
79$6,284,276$2,645,672$2,015,146$4,070,801
80$6,886,741$2,736,779$2,044,123$4,352,021
81$7,549,445$2,831,137$2,072,856$4,658,261
82$8,278,492$2,928,867$2,101,301$4,991,975
83$9,080,610$3,030,094$2,129,407$5,355,863
84$9,963,213$3,134,948$2,157,122$5,752,898
85$10,934,467$3,243,567$2,184,392$6,186,353
86$12,003,371$3,356,091$2,211,158$6,659,835
87$13,179,842$3,472,667$2,237,359$7,177,311
88$14,474,805$3,593,446$2,262,930$7,743,152
89$15,900,299$3,718,589$2,287,801$8,362,174
90$17,469,589$3,848,259$2,311,902$9,039,676
91$19,197,291$3,982,627$2,335,155$9,781,498
92$21,099,511$4,121,873$2,357,479$10,594,070
93$23,193,997$4,266,180$2,378,790$11,484,477
94$25,500,304$4,415,743$2,398,999$12,460,519
95$28,039,981$4,570,760$2,418,012$13,530,792
96$30,836,773$4,731,440$2,435,728$14,704,761
97$33,916,843$4,898,001$2,452,045$15,992,856
98$37,309,024$5,070,666$2,466,852$17,406,565
99$41,045,087$5,249,671$2,480,033$18,958,543
100$45,160,040$5,435,259$2,491,469$20,662,733