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%11.2%
1 years$82,579$81,843$81,126$80,425$79,741$79,339
2 years$40,881$40,119$39,381$38,666$37,972$37,566
3 years$26,983$26,218$25,482$24,774$24,091$23,693
4 years$20,036$19,273$18,545$17,848$17,182$16,796
5 years$15,868$15,111$14,391$13,709$13,061$12,689
6 years$13,091$12,339$11,630$10,963$10,335$9,976
7 years$11,108$10,362$9,665$9,013$8,405$8,060
8 years$9,621$8,882$8,197$7,561$6,973$6,641
9 years$8,466$7,734$7,060$6,440$5,872$5,554
10 years$7,542$6,817$6,155$5,552$5,003$4,699
11 years$6,786$6,069$5,419$4,832$4,303$4,012
12 years$6,157$5,447$4,809$4,238$3,729$3,451
13 years$5,625$4,922$4,296$3,742$3,252$2,987
14 years$5,170$4,474$3,860$3,321$2,850$2,598
15 years$4,775$4,087$3,485$2,962$2,510$2,269
16 years$4,430$3,750$3,160$2,652$2,218$1,990
17 years$4,126$3,454$2,875$2,383$1,967$1,750
18 years$3,857$3,191$2,625$2,148$1,749$1,543
19 years$3,615$2,958$2,403$1,940$1,559$1,364
20 years$3,399$2,748$2,205$1,757$1,392$1,208
21 years$3,203$2,560$2,029$1,595$1,246$1,071
22 years$3,025$2,390$1,870$1,450$1,117$952
23 years$2,863$2,235$1,726$1,321$1,002$847
24 years$2,714$2,094$1,596$1,205$901$754
25 years$2,578$1,965$1,479$1,100$811$673
26 years$2,453$1,847$1,371$1,006$730$600
27 years$2,336$1,738$1,273$921$658$536
28 years$2,229$1,638$1,184$844$594$479
29 years$2,129$1,545$1,102$774$537$429
30 years$2,036$1,459$1,026$710$485$384
31 years$1,949$1,380$957$652$438$343
32 years$1,867$1,305$893$599$396$308
33 years$1,791$1,236$833$551$359$276
34 years$1,719$1,172$779$507$325$247
35 years$1,652$1,111$728$467$294$222
36 years$1,588$1,055$681$430$267$199
37 years$1,528$1,002$637$396$242$178
38 years$1,472$952$597$365$219$160
39 years$1,418$905$559$337$199$144
40 years$1,367$861$524$310$180$129
41 years$1,319$820$492$286$163$116
42 years$1,273$781$461$264$148$104
43 years$1,230$744$433$244$135$93
44 years$1,188$709$406$225$122$84
45 years$1,149$676$381$208$111$75
46 years$1,111$645$358$192$101$68
47 years$1,075$616$336$178$91$61
48 years$1,041$588$316$164$83$55
49 years$1,008$561$297$152$75$49
50 years$976$536$279$140$69$44

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 $6,044 every year, while hoping to spend $40,897 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: 35/46/19 Blend
63$1,000,000$1,000,000$1,000,000$1,000,000
64$1,108,234$1,055,234$1,039,734$1,140,403
65$1,177,760$1,063,427$1,031,051$1,172,682
66$1,253,007$1,070,650$1,020,707$1,203,247
67$1,334,515$1,076,813$1,008,602$1,235,373
68$1,422,878$1,081,820$994,633$1,269,222
69$1,518,751$1,085,568$978,692$1,304,975
70$1,622,850$1,087,947$960,665$1,342,835
71$1,735,967$1,088,843$940,433$1,383,027
72$1,858,971$1,088,131$917,873$1,425,803
73$1,992,818$1,085,682$892,854$1,471,443
74$2,138,561$1,081,356$865,240$1,520,260
75$2,297,358$1,075,006$834,889$1,572,601
76$2,470,483$1,066,476$801,652$1,628,853
77$2,659,338$1,055,599$765,374$1,689,447
78$2,865,468$1,042,201$725,892$1,754,862
79$3,090,572$1,026,095$683,035$1,825,630
80$3,336,521$1,007,084$636,627$1,902,342
81$3,605,374$984,959$586,482$1,985,657
82$3,899,398$959,499$532,405$2,076,303
83$4,221,091$930,468$474,195$2,175,091
84$4,573,201$897,620$411,639$2,282,920
85$4,958,755$860,691$344,517$2,400,788
86$5,381,087$819,404$272,597$2,529,801
87$5,843,868$773,464$195,639$2,671,186
88$6,351,141$722,562$113,391$2,826,303
89$6,907,358$666,368$25,591$2,996,660
90$7,517,424$604,536$0$3,183,927
91$8,186,740$536,697$0$3,403,762
92$8,921,257$462,465$0$3,650,841
93$9,727,528$381,428$0$3,922,299
94$10,612,772$293,154$0$4,220,711
95$11,584,941$197,185$0$4,548,924
96$12,652,796$93,038$0$4,910,083
97$13,825,987$0$0$5,307,663
98$15,115,146$0$0$5,755,525
99$16,531,985$0$0$6,299,657
100$18,089,407$0$0$6,897,937