Can I retire at age 64 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$132,127$130,950$129,801$128,681$127,586$126,149
2 years$65,409$64,191$63,010$61,866$60,755$59,308
3 years$43,173$41,950$40,772$39,638$38,546$37,134
4 years$32,057$30,837$29,671$28,557$27,491$26,126
5 years$25,389$24,177$23,026$21,934$20,898$19,583
6 years$20,945$19,742$18,609$17,541$16,536$15,272
7 years$17,773$16,579$15,464$14,422$13,448$12,237
8 years$15,394$14,212$13,115$12,098$11,157$9,997
9 years$13,545$12,374$11,296$10,305$9,396$8,288
10 years$12,067$10,907$9,848$8,883$8,005$6,949
11 years$10,858$9,710$8,670$7,731$6,885$5,879
12 years$9,851$8,715$7,694$6,781$5,966$5,009
13 years$9,000$7,876$6,874$5,986$5,203$4,293
14 years$8,271$7,159$6,177$5,314$4,561$3,698
15 years$7,640$6,540$5,577$4,739$4,016$3,198
16 years$7,089$6,000$5,056$4,243$3,549$2,775
17 years$6,602$5,526$4,601$3,813$3,147$2,415
18 years$6,171$5,106$4,200$3,436$2,798$2,107
19 years$5,785$4,732$3,845$3,105$2,494$1,843
20 years$5,438$4,398$3,529$2,812$2,228$1,614
21 years$5,124$4,096$3,246$2,552$1,993$1,416
22 years$4,840$3,824$2,991$2,320$1,787$1,244
23 years$4,581$3,576$2,762$2,113$1,604$1,094
24 years$4,343$3,351$2,554$1,927$1,442$964
25 years$4,125$3,144$2,366$1,760$1,297$849
26 years$3,924$2,955$2,194$1,609$1,169$749
27 years$3,738$2,781$2,038$1,473$1,054$661
28 years$3,566$2,621$1,894$1,350$951$584
29 years$3,406$2,472$1,763$1,238$858$516
30 years$3,257$2,335$1,642$1,136$776$456
31 years$3,118$2,207$1,531$1,043$701$404
32 years$2,987$2,088$1,428$959$634$357
33 years$2,865$1,978$1,333$882$574$316
34 years$2,751$1,875$1,246$811$520$280
35 years$2,643$1,778$1,165$747$471$248
36 years$2,541$1,688$1,090$688$427$219
37 years$2,445$1,603$1,020$634$387$194
38 years$2,355$1,523$955$584$350$172
39 years$2,269$1,448$895$539$318$153
40 years$2,187$1,378$839$497$288$135
41 years$2,110$1,312$786$458$262$120
42 years$2,037$1,249$738$423$237$106
43 years$1,967$1,190$692$390$215$94
44 years$1,901$1,135$650$361$195$84
45 years$1,838$1,082$610$333$177$74
46 years$1,778$1,032$573$308$161$66
47 years$1,720$985$538$284$146$58
48 years$1,665$940$506$263$133$52
49 years$1,612$898$476$243$121$46
50 years$1,562$858$447$224$110$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,600,000, adding $4,151 every year, while hoping to spend $28,830 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: 45/27/28 Blend
63$1,600,000$1,600,000$1,600,000$1,600,000
64$1,767,482$1,682,682$1,657,882$1,832,545
65$1,917,090$1,734,458$1,682,746$1,930,990
66$2,080,992$1,787,806$1,707,477$2,034,601
67$2,260,615$1,842,770$1,732,039$2,146,421
68$2,457,532$1,899,400$1,756,397$2,267,230
69$2,673,474$1,957,744$1,780,510$2,397,891
70$2,910,348$2,017,853$1,804,336$2,539,351
71$3,170,255$2,079,779$1,827,833$2,692,655
72$3,455,508$2,143,576$1,850,953$2,858,952
73$3,768,657$2,209,298$1,873,647$3,039,506
74$4,112,509$2,277,003$1,895,862$3,235,711
75$4,490,156$2,346,747$1,917,545$3,449,102
76$4,905,005$2,418,591$1,938,636$3,681,368
77$5,360,810$2,492,596$1,959,075$3,934,370
78$5,861,706$2,568,826$1,978,797$4,210,158
79$6,412,246$2,647,345$1,997,733$4,510,989
80$7,017,450$2,728,220$2,015,812$4,839,349
81$7,682,846$2,811,519$2,032,958$5,197,979
82$8,414,526$2,897,312$2,049,091$5,589,896
83$9,219,199$2,985,673$2,064,127$6,018,423
84$10,104,261$3,076,674$2,077,979$6,487,223
85$11,077,857$3,170,393$2,090,553$7,000,332
86$12,148,963$3,266,907$2,101,751$7,562,193
87$13,327,469$3,366,297$2,111,472$8,177,704
88$14,624,271$3,468,645$2,119,606$8,852,261
89$16,051,374$3,574,037$2,126,040$9,591,808
90$17,622,009$3,682,558$2,130,657$10,402,898
91$19,350,749$3,794,300$2,133,330$11,292,746
92$21,253,657$3,909,352$2,133,928$12,269,306
93$23,348,430$4,027,809$2,132,314$13,341,340
94$25,654,566$4,149,769$2,128,343$14,518,504
95$28,193,553$4,275,329$2,121,864$15,811,438
96$30,989,067$4,404,591$2,112,717$17,231,865
97$34,067,196$4,537,660$2,100,738$18,792,705
98$37,456,687$4,674,643$2,085,750$20,508,193
99$41,189,218$4,815,649$2,067,571$22,394,016
100$45,299,693$4,960,791$2,046,009$24,467,459