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

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$82,579$81,843$81,126$80,425$79,741$77,531
2 years$40,881$40,119$39,381$38,666$37,972$35,761
3 years$26,983$26,218$25,482$24,774$24,091$21,950
4 years$20,036$19,273$18,545$17,848$17,182$15,126
5 years$15,868$15,111$14,391$13,709$13,061$11,097
6 years$13,091$12,339$11,630$10,963$10,335$8,464
7 years$11,108$10,362$9,665$9,013$8,405$6,627
8 years$9,621$8,882$8,197$7,561$6,973$5,287
9 years$8,466$7,734$7,060$6,440$5,872$4,277
10 years$7,542$6,817$6,155$5,552$5,003$3,496
11 years$6,786$6,069$5,419$4,832$4,303$2,882
12 years$6,157$5,447$4,809$4,238$3,729$2,392
13 years$5,625$4,922$4,296$3,742$3,252$1,995
14 years$5,170$4,474$3,860$3,321$2,850$1,671
15 years$4,775$4,087$3,485$2,962$2,510$1,405
16 years$4,430$3,750$3,160$2,652$2,218$1,184
17 years$4,126$3,454$2,875$2,383$1,967$1,001
18 years$3,857$3,191$2,625$2,148$1,749$848
19 years$3,615$2,958$2,403$1,940$1,559$719
20 years$3,399$2,748$2,205$1,757$1,392$611
21 years$3,203$2,560$2,029$1,595$1,246$519
22 years$3,025$2,390$1,870$1,450$1,117$442
23 years$2,863$2,235$1,726$1,321$1,002$377
24 years$2,714$2,094$1,596$1,205$901$321
25 years$2,578$1,965$1,479$1,100$811$274
26 years$2,453$1,847$1,371$1,006$730$234
27 years$2,336$1,738$1,273$921$658$200
28 years$2,229$1,638$1,184$844$594$171
29 years$2,129$1,545$1,102$774$537$146
30 years$2,036$1,459$1,026$710$485$125
31 years$1,949$1,380$957$652$438$107
32 years$1,867$1,305$893$599$396$91
33 years$1,791$1,236$833$551$359$78
34 years$1,719$1,172$779$507$325$67
35 years$1,652$1,111$728$467$294$57
36 years$1,588$1,055$681$430$267$49
37 years$1,528$1,002$637$396$242$42
38 years$1,472$952$597$365$219$36
39 years$1,418$905$559$337$199$31
40 years$1,367$861$524$310$180$26
41 years$1,319$820$492$286$163$22
42 years$1,273$781$461$264$148$19
43 years$1,230$744$433$244$135$16
44 years$1,188$709$406$225$122$14
45 years$1,149$676$381$208$111$12
46 years$1,111$645$358$192$101$10
47 years$1,075$616$336$178$91$9
48 years$1,041$588$316$164$83$8
49 years$1,008$561$297$152$75$6
50 years$976$536$279$140$69$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,000,000, adding $6,250 every year, while hoping to spend $47,713 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: 85/8/7 Blend
63$1,000,000$1,000,000$1,000,000$1,000,000
64$1,108,447$1,055,447$1,039,947$1,201,491
65$1,170,742$1,056,398$1,024,019$1,264,089
66$1,237,792$1,055,796$1,005,958$1,325,687
67$1,310,032$1,053,515$985,643$1,391,846
68$1,387,939$1,049,421$962,945$1,462,994
69$1,472,038$1,043,371$937,733$1,539,600
70$1,562,904$1,035,214$909,865$1,622,182
71$1,661,171$1,024,790$879,196$1,711,309
72$1,767,535$1,011,930$845,574$1,807,608
73$1,882,761$996,452$808,838$1,911,769
74$2,007,691$978,166$768,823$2,024,551
75$2,143,250$956,871$725,353$2,146,794
76$2,290,455$932,351$678,246$2,279,418
77$2,450,426$904,381$627,311$2,423,440
78$2,624,393$872,720$572,350$2,579,978
79$2,813,712$837,114$513,155$2,750,265
80$3,019,874$797,295$449,508$2,935,659
81$3,244,517$752,978$381,183$3,137,657
82$3,489,447$703,864$307,941$3,357,907
83$3,756,650$649,633$229,538$3,598,225
84$4,048,314$589,950$145,712$3,860,614
85$4,366,845$524,460$56,196$4,147,277
86$4,714,892$452,788$0$4,460,647
87$5,095,373$374,537$0$4,806,338
88$5,511,499$289,287$0$5,189,034
89$5,966,807$196,597$0$5,607,810
90$6,465,189$95,999$0$6,066,272
91$7,010,935$0$0$6,568,396
92$7,608,764$0$0$7,119,705
93$8,263,878$0$0$7,733,117
94$8,982,003$0$0$8,405,543
95$9,769,446$0$0$9,142,892
96$10,633,152$0$0$9,951,669
97$11,580,775$0$0$10,839,042
98$12,620,741$0$0$11,812,905
99$13,762,333$0$0$12,881,953
100$15,015,777$0$0$14,055,764