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%13.7%
1 years$128,823$127,676$126,556$125,464$124,397$122,487
2 years$63,774$62,586$61,435$60,319$59,236$57,317
3 years$42,094$40,901$39,753$38,647$37,582$35,713
4 years$31,256$30,066$28,930$27,843$26,804$24,999
5 years$24,754$23,572$22,451$21,386$20,376$18,641
6 years$20,422$19,249$18,143$17,103$16,123$14,459
7 years$17,328$16,165$15,077$14,061$13,112$11,521
8 years$15,009$13,856$12,787$11,795$10,878$9,359
9 years$13,206$12,064$11,013$10,047$9,161$7,713
10 years$11,765$10,634$9,602$8,661$7,805$6,427
11 years$10,586$9,467$8,453$7,537$6,713$5,404
12 years$9,605$8,497$7,502$6,611$5,817$4,575
13 years$8,775$7,679$6,702$5,837$5,073$3,896
14 years$8,065$6,980$6,022$5,181$4,447$3,333
15 years$7,449$6,376$5,437$4,621$3,915$2,863
16 years$6,911$5,850$4,930$4,137$3,460$2,467
17 years$6,437$5,388$4,486$3,717$3,068$2,132
18 years$6,016$4,979$4,095$3,350$2,728$1,847
19 years$5,640$4,614$3,749$3,027$2,432$1,603
20 years$5,302$4,288$3,440$2,742$2,172$1,394
21 years$4,996$3,994$3,164$2,488$1,944$1,214
22 years$4,719$3,728$2,917$2,262$1,742$1,058
23 years$4,466$3,487$2,693$2,060$1,564$924
24 years$4,235$3,267$2,491$1,879$1,406$807
25 years$4,022$3,066$2,307$1,716$1,265$706
26 years$3,826$2,881$2,139$1,569$1,139$618
27 years$3,645$2,712$1,987$1,436$1,027$541
28 years$3,477$2,555$1,847$1,316$927$474
29 years$3,321$2,411$1,719$1,207$837$415
30 years$3,175$2,276$1,601$1,108$756$364
31 years$3,040$2,152$1,492$1,017$684$319
32 years$2,913$2,036$1,392$935$618$280
33 years$2,794$1,928$1,300$860$560$246
34 years$2,682$1,828$1,215$791$507$216
35 years$2,577$1,733$1,136$728$459$190
36 years$2,478$1,645$1,062$671$416$167
37 years$2,384$1,563$994$618$377$146
38 years$2,296$1,485$931$569$342$129
39 years$2,212$1,412$872$525$310$113
40 years$2,133$1,344$818$484$281$99
41 years$2,058$1,279$767$447$255$87
42 years$1,986$1,218$719$412$231$77
43 years$1,918$1,161$675$381$210$67
44 years$1,854$1,106$634$351$191$59
45 years$1,792$1,055$595$325$173$52
46 years$1,733$1,006$559$300$157$46
47 years$1,677$960$525$277$143$40
48 years$1,623$917$493$256$130$35
49 years$1,572$875$464$237$118$31
50 years$1,523$836$436$219$107$27

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 $5,210 every year, while hoping to spend $34,144 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: 60/29/11 Blend
63$1,560,000$1,560,000$1,560,000$1,560,000
64$1,724,494$1,641,814$1,617,634$1,823,167
65$1,864,064$1,685,934$1,635,496$1,934,202
66$2,016,725$1,731,072$1,652,812$2,050,932
67$2,183,777$1,777,240$1,669,527$2,177,425
68$2,366,651$1,824,454$1,685,585$2,314,626
69$2,566,922$1,872,725$1,700,925$2,463,573
70$2,786,325$1,922,065$1,715,483$2,625,410
71$3,026,771$1,972,488$1,729,193$2,801,396
72$3,290,365$2,024,002$1,741,983$2,992,918
73$3,579,422$2,076,619$1,753,780$3,201,503
74$3,896,498$2,130,347$1,764,506$3,428,834
75$4,244,402$2,185,195$1,774,078$3,676,761
76$4,626,231$2,241,171$1,782,410$3,947,326
77$5,045,398$2,298,279$1,789,412$4,242,775
78$5,505,659$2,356,526$1,794,988$4,565,584
79$6,011,155$2,415,914$1,799,039$4,918,480
80$6,566,444$2,476,445$1,801,458$5,304,466
81$7,176,551$2,538,120$1,802,136$5,726,852
82$7,847,009$2,600,938$1,800,958$6,189,284
83$8,583,915$2,664,895$1,797,801$6,695,777
84$9,393,985$2,729,986$1,792,538$7,250,756
85$10,284,619$2,796,203$1,785,036$7,859,098
86$11,263,971$2,863,537$1,775,155$8,526,174
87$12,341,021$2,931,976$1,762,748$9,257,903
88$13,525,667$3,001,504$1,747,661$10,060,805
89$14,828,811$3,072,103$1,729,734$10,942,068
90$16,262,466$3,143,753$1,708,797$11,909,608
91$17,839,870$3,216,429$1,684,674$12,972,150
92$19,575,606$3,290,104$1,657,180$14,139,308
93$21,485,743$3,364,744$1,626,120$15,421,675
94$23,587,986$3,440,314$1,591,293$16,830,924
95$25,901,846$3,516,775$1,552,487$18,379,919
96$28,448,818$3,594,080$1,509,479$20,082,834
97$31,252,588$3,672,181$1,462,037$21,955,289
98$34,339,255$3,751,021$1,409,918$24,014,496
99$37,737,578$3,830,539$1,352,869$26,279,424
100$41,479,244$3,910,670$1,290,624$28,770,974