Can I retire at age 64 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$88,360$87,573$86,805$86,055$85,323$83,362
2 years$43,742$42,928$42,138$41,373$40,630$38,665
3 years$28,872$28,054$27,266$26,508$25,777$23,870
4 years$21,438$20,622$19,843$19,097$18,385$16,550
5 years$16,979$16,168$15,399$14,669$13,976$12,218
6 years$14,007$13,203$12,445$11,731$11,059$9,380
7 years$11,885$11,088$10,341$9,644$8,994$7,394
8 years$10,295$9,504$8,770$8,090$7,461$5,941
9 years$9,058$8,275$7,554$6,891$6,283$4,841
10 years$8,070$7,294$6,586$5,940$5,354$3,987
11 years$7,261$6,493$5,798$5,170$4,604$3,312
12 years$6,588$5,828$5,146$4,535$3,990$2,770
13 years$6,019$5,267$4,597$4,003$3,479$2,329
14 years$5,531$4,788$4,131$3,554$3,050$1,967
15 years$5,109$4,373$3,729$3,169$2,685$1,668
16 years$4,741$4,013$3,381$2,838$2,373$1,418
17 years$4,415$3,695$3,077$2,550$2,104$1,209
18 years$4,127$3,415$2,809$2,298$1,871$1,033
19 years$3,869$3,165$2,571$2,076$1,668$884
20 years$3,637$2,941$2,360$1,880$1,490$758
21 years$3,427$2,739$2,171$1,707$1,333$650
22 years$3,237$2,557$2,000$1,552$1,195$559
23 years$3,063$2,392$1,847$1,413$1,073$481
24 years$2,904$2,241$1,708$1,289$964$414
25 years$2,759$2,103$1,582$1,177$868$356
26 years$2,624$1,976$1,467$1,076$781$307
27 years$2,500$1,860$1,363$985$705$265
28 years$2,385$1,753$1,267$903$636$228
29 years$2,278$1,653$1,179$828$574$197
30 years$2,178$1,561$1,098$760$519$170
31 years$2,085$1,476$1,024$698$469$147
32 years$1,998$1,397$955$641$424$127
33 years$1,916$1,323$892$590$384$110
34 years$1,840$1,254$833$543$348$95
35 years$1,767$1,189$779$499$315$82
36 years$1,699$1,129$729$460$285$71
37 years$1,635$1,072$682$424$259$61
38 years$1,575$1,019$639$391$234$53
39 years$1,517$969$598$360$213$46
40 years$1,463$922$561$332$193$40
41 years$1,411$877$526$306$175$34
42 years$1,362$835$493$283$159$30
43 years$1,316$796$463$261$144$26
44 years$1,271$759$435$241$131$22
45 years$1,229$724$408$223$119$19
46 years$1,189$690$383$206$108$17
47 years$1,150$659$360$190$98$14
48 years$1,113$629$338$176$89$12
49 years$1,078$600$318$162$81$11
50 years$1,045$574$299$150$73$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,070,000, adding $4,838 every year, while hoping to spend $56,579 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: 46/35/19 Blend
63$1,070,000$1,070,000$1,070,000$1,070,000
64$1,184,130$1,127,420$1,110,835$1,231,969
65$1,244,712$1,122,464$1,087,849$1,260,938
66$1,309,577$1,115,369$1,062,196$1,286,310
67$1,379,102$1,105,970$1,033,727$1,312,651
68$1,453,701$1,094,093$1,002,288$1,340,074
69$1,533,827$1,079,553$967,714$1,368,711
70$1,619,980$1,062,154$929,835$1,398,708
71$1,712,706$1,041,687$888,472$1,430,233
72$1,812,606$1,017,934$843,440$1,463,471
73$1,920,340$990,661$794,543$1,498,635
74$2,036,632$959,621$741,578$1,535,960
75$2,162,280$924,553$684,332$1,575,713
76$2,298,157$885,181$622,582$1,618,193
77$2,445,227$841,213$556,096$1,663,735
78$2,604,546$792,339$484,632$1,712,714
79$2,777,279$738,232$407,935$1,765,550
80$2,964,702$678,546$325,742$1,822,711
81$3,168,223$612,917$237,776$1,884,724
82$3,389,389$540,956$143,749$1,952,172
83$3,629,901$462,257$43,358$2,025,711
84$3,891,631$376,388$0$2,106,070
85$4,176,639$282,893$0$2,206,990
86$4,487,192$181,291$0$2,326,668
87$4,825,784$71,072$0$2,457,382
88$5,195,161$0$0$2,600,328
89$5,598,345$0$0$2,775,428
90$6,038,661$0$0$2,996,665
91$6,519,772$0$0$3,238,520
92$7,045,710$0$0$3,503,034
93$7,620,912$0$0$3,792,455
94$8,250,265$0$0$4,109,259
95$8,939,151$0$0$4,456,171
96$9,693,496$0$0$4,836,192
97$10,519,824$0$0$5,252,629
98$11,425,321$0$0$5,709,121
99$12,417,903$0$0$6,209,678
100$13,506,284$0$0$6,758,716