Can I retire at age 64 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$128,823$127,676$126,556$125,464$124,397$119,414
2 years$63,774$62,586$61,435$60,319$59,236$54,279
3 years$42,094$40,901$39,753$38,647$37,582$32,806
4 years$31,256$30,066$28,930$27,843$26,804$22,246
5 years$24,754$23,572$22,451$21,386$20,376$16,047
6 years$20,422$19,249$18,143$17,103$16,123$12,026
7 years$17,328$16,165$15,077$14,061$13,112$9,245
8 years$15,009$13,856$12,787$11,795$10,878$7,238
9 years$13,206$12,064$11,013$10,047$9,161$5,741
10 years$11,765$10,634$9,602$8,661$7,805$4,600
11 years$10,586$9,467$8,453$7,537$6,713$3,714
12 years$9,605$8,497$7,502$6,611$5,817$3,017
13 years$8,775$7,679$6,702$5,837$5,073$2,462
14 years$8,065$6,980$6,022$5,181$4,447$2,017
15 years$7,449$6,376$5,437$4,621$3,915$1,658
16 years$6,911$5,850$4,930$4,137$3,460$1,366
17 years$6,437$5,388$4,486$3,717$3,068$1,127
18 years$6,016$4,979$4,095$3,350$2,728$932
19 years$5,640$4,614$3,749$3,027$2,432$772
20 years$5,302$4,288$3,440$2,742$2,172$640
21 years$4,996$3,994$3,164$2,488$1,944$531
22 years$4,719$3,728$2,917$2,262$1,742$441
23 years$4,466$3,487$2,693$2,060$1,564$366
24 years$4,235$3,267$2,491$1,879$1,406$304
25 years$4,022$3,066$2,307$1,716$1,265$253
26 years$3,826$2,881$2,139$1,569$1,139$210
27 years$3,645$2,712$1,987$1,436$1,027$175
28 years$3,477$2,555$1,847$1,316$927$146
29 years$3,321$2,411$1,719$1,207$837$121
30 years$3,175$2,276$1,601$1,108$756$101
31 years$3,040$2,152$1,492$1,017$684$84
32 years$2,913$2,036$1,392$935$618$70
33 years$2,794$1,928$1,300$860$560$58
34 years$2,682$1,828$1,215$791$507$49
35 years$2,577$1,733$1,136$728$459$41
36 years$2,478$1,645$1,062$671$416$34
37 years$2,384$1,563$994$618$377$28
38 years$2,296$1,485$931$569$342$23
39 years$2,212$1,412$872$525$310$20
40 years$2,133$1,344$818$484$281$16
41 years$2,058$1,279$767$447$255$14
42 years$1,986$1,218$719$412$231$11
43 years$1,918$1,161$675$381$210$9
44 years$1,854$1,106$634$351$191$8
45 years$1,792$1,055$595$325$173$7
46 years$1,733$1,006$559$300$157$5
47 years$1,677$960$525$277$143$5
48 years$1,623$917$493$256$130$4
49 years$1,572$875$464$237$118$3
50 years$1,523$836$436$219$107$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,560,000, adding $6,843 every year, while hoping to spend $47,128 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: 80/11/9 Blend
63$1,560,000$1,560,000$1,560,000$1,560,000
64$1,726,179$1,643,499$1,619,319$1,861,428
65$1,852,105$1,673,886$1,623,422$1,981,481
66$1,989,296$1,704,183$1,626,083$2,106,315
67$2,138,852$1,734,336$1,627,204$2,241,893
68$2,301,982$1,764,285$1,626,682$2,389,267
69$2,480,017$1,793,968$1,624,409$2,549,593
70$2,674,424$1,823,317$1,620,272$2,724,144
71$2,886,815$1,852,260$1,614,152$2,914,325
72$3,118,969$1,880,719$1,605,924$3,121,681
73$3,372,839$1,908,610$1,595,458$3,347,915
74$3,650,579$1,935,843$1,582,617$3,594,901
75$3,954,562$1,962,322$1,567,258$3,864,707
76$4,287,396$1,987,945$1,549,230$4,159,607
77$4,651,958$2,012,602$1,528,377$4,482,110
78$5,051,413$2,036,175$1,504,533$4,834,979
79$5,489,249$2,058,540$1,477,527$5,221,256
80$5,969,306$2,079,562$1,447,177$5,644,297
81$6,495,814$2,099,098$1,413,296$6,107,795
82$7,073,431$2,116,998$1,375,685$6,615,823
83$7,707,288$2,133,099$1,334,139$7,172,866
84$8,403,039$2,147,228$1,288,440$7,783,868
85$9,166,909$2,159,202$1,238,362$8,454,276
86$10,005,757$2,168,826$1,183,671$9,190,092
87$10,927,138$2,175,892$1,124,117$9,997,930
88$11,939,374$2,180,179$1,059,443$10,885,078
89$13,051,635$2,181,453$989,379$11,859,567
90$14,274,022$2,179,464$913,644$12,930,248
91$15,617,662$2,173,948$831,941$14,106,875
92$17,094,816$2,164,624$743,963$15,400,193
93$18,718,991$2,151,194$649,389$16,822,047
94$20,505,067$2,133,342$547,883$18,385,489
95$22,469,441$2,110,732$439,094$20,104,902
96$24,630,175$2,083,009$322,655$21,996,136
97$27,007,173$2,049,797$198,184$24,076,660
98$29,622,363$2,010,696$65,282$26,365,721
99$32,499,908$1,965,283$0$28,884,535
100$35,666,428$1,913,111$0$31,663,830