Can I retire at age 64 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$83,405$82,662$81,937$81,230$80,539$79,731
2 years$41,290$40,521$39,775$39,053$38,352$37,538
3 years$27,253$26,481$25,737$25,021$24,332$23,538
4 years$20,236$19,466$18,730$18,027$17,354$16,585
5 years$16,027$15,262$14,535$13,846$13,192$12,451
6 years$13,222$12,462$11,747$11,073$10,438$9,726
7 years$11,219$10,466$9,762$9,104$8,489$7,806
8 years$9,717$8,971$8,279$7,637$7,043$6,388
9 years$8,550$7,811$7,130$6,505$5,931$5,305
10 years$7,617$6,885$6,216$5,607$5,053$4,456
11 years$6,854$6,129$5,473$4,880$4,346$3,777
12 years$6,219$5,501$4,857$4,280$3,766$3,224
13 years$5,681$4,972$4,339$3,779$3,284$2,769
14 years$5,221$4,519$3,899$3,355$2,879$2,390
15 years$4,823$4,128$3,520$2,992$2,535$2,071
16 years$4,475$3,788$3,192$2,679$2,240$1,801
17 years$4,168$3,488$2,904$2,407$1,986$1,571
18 years$3,895$3,223$2,651$2,169$1,766$1,373
19 years$3,652$2,987$2,427$1,960$1,574$1,203
20 years$3,433$2,776$2,227$1,775$1,406$1,056
21 years$3,235$2,586$2,049$1,611$1,258$929
22 years$3,055$2,414$1,888$1,465$1,128$818
23 years$2,891$2,257$1,743$1,334$1,013$721
24 years$2,742$2,115$1,612$1,217$910$636
25 years$2,604$1,985$1,493$1,111$819$562
26 years$2,477$1,865$1,385$1,016$738$497
27 years$2,360$1,756$1,286$930$665$440
28 years$2,251$1,654$1,196$852$600$389
29 years$2,150$1,561$1,113$781$542$345
30 years$2,056$1,474$1,036$717$490$306
31 years$1,968$1,393$966$659$443$271
32 years$1,886$1,318$901$605$400$240
33 years$1,809$1,248$842$557$362$213
34 years$1,736$1,183$786$512$328$189
35 years$1,668$1,122$735$471$297$168
36 years$1,604$1,065$688$434$269$149
37 years$1,544$1,012$644$400$244$133
38 years$1,486$962$603$369$221$118
39 years$1,432$914$565$340$201$105
40 years$1,381$870$529$314$182$93
41 years$1,332$828$496$289$165$83
42 years$1,286$789$466$267$150$73
43 years$1,242$751$437$246$136$65
44 years$1,200$716$410$228$123$58
45 years$1,160$683$385$210$112$52
46 years$1,122$652$362$194$102$46
47 years$1,086$622$340$179$92$41
48 years$1,051$594$319$166$84$36
49 years$1,018$567$300$153$76$32
50 years$986$541$282$142$69$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,010,000, adding $6,917 every year, while hoping to spend $20,144 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: 61/17/22 Blend
63$1,010,000$1,010,000$1,010,000$1,010,000
64$1,120,155$1,066,625$1,050,970$1,181,605
65$1,212,978$1,097,456$1,064,744$1,254,858
66$1,314,593$1,129,124$1,078,305$1,331,949
67$1,425,877$1,161,646$1,091,624$1,415,639
68$1,547,794$1,195,044$1,104,670$1,506,572
69$1,681,405$1,229,337$1,117,413$1,605,458
70$1,827,880$1,264,546$1,129,818$1,713,081
71$1,988,507$1,300,692$1,141,850$1,830,300
72$2,164,704$1,337,796$1,153,472$1,958,067
73$2,358,036$1,375,880$1,164,645$2,097,425
74$2,570,221$1,414,964$1,175,326$2,249,526
75$2,803,157$1,455,071$1,185,473$2,415,640
76$3,058,932$1,496,222$1,195,040$2,597,162
77$3,339,847$1,538,440$1,203,977$2,795,633
78$3,648,435$1,581,747$1,212,234$3,012,749
79$3,987,488$1,626,166$1,219,757$3,250,378
80$4,360,083$1,671,720$1,226,490$3,510,579
81$4,769,608$1,718,430$1,232,373$3,795,621
82$5,219,795$1,766,320$1,237,345$4,108,003
83$5,714,757$1,815,413$1,241,339$4,450,479
84$6,259,026$1,865,731$1,244,287$4,826,082
85$6,857,593$1,917,299$1,246,117$5,238,158
86$7,515,958$1,970,137$1,246,753$5,690,389
87$8,240,182$2,024,270$1,246,115$6,186,836
88$9,036,940$2,079,719$1,244,120$6,731,972
89$9,913,591$2,136,508$1,240,680$7,330,727
90$10,878,238$2,194,658$1,235,704$7,988,531
91$11,939,814$2,254,192$1,229,096$8,711,372
92$13,108,158$2,315,130$1,220,754$9,505,844
93$14,394,113$2,377,495$1,210,572$10,379,217
94$15,809,627$2,441,306$1,198,441$11,339,501
95$17,367,864$2,506,585$1,184,243$12,395,521
96$19,083,329$2,573,351$1,167,858$13,557,005
97$20,972,006$2,641,622$1,149,159$14,834,672
98$23,051,506$2,711,417$1,128,011$16,240,334
99$25,341,237$2,782,754$1,104,277$17,787,008
100$27,862,582$2,855,648$1,077,809$19,489,039