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

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$128,823$127,676$126,556$125,464$124,397$121,885
2 years$63,774$62,586$61,435$60,319$59,236$56,717
3 years$42,094$40,901$39,753$38,647$37,582$35,133
4 years$31,256$30,066$28,930$27,843$26,804$24,445
5 years$24,754$23,572$22,451$21,386$20,376$18,113
6 years$20,422$19,249$18,143$17,103$16,123$13,959
7 years$17,328$16,165$15,077$14,061$13,112$11,048
8 years$15,009$13,856$12,787$11,795$10,878$8,912
9 years$13,206$12,064$11,013$10,047$9,161$7,292
10 years$11,765$10,634$9,602$8,661$7,805$6,032
11 years$10,586$9,467$8,453$7,537$6,713$5,033
12 years$9,605$8,497$7,502$6,611$5,817$4,229
13 years$8,775$7,679$6,702$5,837$5,073$3,572
14 years$8,065$6,980$6,022$5,181$4,447$3,032
15 years$7,449$6,376$5,437$4,621$3,915$2,583
16 years$6,911$5,850$4,930$4,137$3,460$2,207
17 years$6,437$5,388$4,486$3,717$3,068$1,891
18 years$6,016$4,979$4,095$3,350$2,728$1,624
19 years$5,640$4,614$3,749$3,027$2,432$1,397
20 years$5,302$4,288$3,440$2,742$2,172$1,204
21 years$4,996$3,994$3,164$2,488$1,944$1,039
22 years$4,719$3,728$2,917$2,262$1,742$898
23 years$4,466$3,487$2,693$2,060$1,564$776
24 years$4,235$3,267$2,491$1,879$1,406$672
25 years$4,022$3,066$2,307$1,716$1,265$582
26 years$3,826$2,881$2,139$1,569$1,139$504
27 years$3,645$2,712$1,987$1,436$1,027$437
28 years$3,477$2,555$1,847$1,316$927$379
29 years$3,321$2,411$1,719$1,207$837$329
30 years$3,175$2,276$1,601$1,108$756$286
31 years$3,040$2,152$1,492$1,017$684$248
32 years$2,913$2,036$1,392$935$618$216
33 years$2,794$1,928$1,300$860$560$188
34 years$2,682$1,828$1,215$791$507$163
35 years$2,577$1,733$1,136$728$459$142
36 years$2,478$1,645$1,062$671$416$123
37 years$2,384$1,563$994$618$377$107
38 years$2,296$1,485$931$569$342$93
39 years$2,212$1,412$872$525$310$81
40 years$2,133$1,344$818$484$281$70
41 years$2,058$1,279$767$447$255$61
42 years$1,986$1,218$719$412$231$53
43 years$1,918$1,161$675$381$210$46
44 years$1,854$1,106$634$351$191$40
45 years$1,792$1,055$595$325$173$35
46 years$1,733$1,006$559$300$157$31
47 years$1,677$960$525$277$143$27
48 years$1,623$917$493$256$130$23
49 years$1,572$875$464$237$118$20
50 years$1,523$836$436$219$107$18

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 $6,810 every year, while hoping to spend $28,408 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: 48/28/24 Blend
63$1,560,000$1,560,000$1,560,000$1,560,000
64$1,726,145$1,643,465$1,619,285$1,796,930
65$1,871,985$1,693,768$1,643,305$1,897,442
66$2,031,750$1,745,585$1,667,177$2,003,159
67$2,206,828$1,798,959$1,690,868$2,117,391
68$2,398,752$1,853,934$1,714,339$2,240,952
69$2,609,206$1,910,559$1,737,551$2,374,737
70$2,840,049$1,968,880$1,760,463$2,519,733
71$3,093,326$2,028,948$1,783,030$2,677,026
72$3,371,291$2,090,812$1,805,207$2,847,811
73$3,676,425$2,154,524$1,826,944$3,033,403
74$4,011,463$2,220,138$1,848,189$3,235,253
75$4,379,415$2,287,708$1,868,887$3,454,954
76$4,783,601$2,357,291$1,888,980$3,694,266
77$5,227,674$2,428,944$1,908,406$3,955,122
78$5,715,661$2,502,727$1,927,102$4,239,654
79$6,251,998$2,578,700$1,945,000$4,550,210
80$6,841,572$2,656,926$1,962,027$4,889,375
81$7,489,766$2,737,469$1,978,109$5,259,997
82$8,202,512$2,820,395$1,993,165$5,665,213
83$8,986,345$2,905,771$2,007,113$6,108,480
84$9,848,465$2,993,666$2,019,864$6,593,604
85$10,796,805$3,084,152$2,031,326$7,124,780
86$11,840,105$3,177,302$2,041,402$7,706,628
87$12,987,995$3,273,190$2,049,988$8,344,239
88$14,251,087$3,371,892$2,056,979$9,043,222
89$15,641,071$3,473,488$2,062,261$9,809,757
90$17,170,829$3,578,058$2,065,716$10,650,650
91$18,854,555$3,685,684$2,067,219$11,573,405
92$20,707,888$3,796,451$2,066,640$12,586,286
93$22,748,062$3,910,447$2,063,841$13,698,401
94$24,994,065$4,027,759$2,058,680$14,919,784
95$27,466,820$4,148,479$2,051,006$16,261,492
96$30,189,381$4,272,700$2,040,660$17,735,709
97$33,187,153$4,400,518$2,027,478$19,355,859
98$36,488,130$4,532,030$2,011,285$21,136,737
99$40,123,156$4,667,337$1,991,901$23,094,642
100$44,126,223$4,806,541$1,969,134$25,247,537