Can I retire at age 64 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$98,269$97,394$96,540$95,706$94,892$94,492
2 years$48,648$47,742$46,864$46,013$45,187$44,783
3 years$32,110$31,200$30,324$29,481$28,668$28,273
4 years$23,842$22,935$22,068$21,239$20,447$20,063
5 years$18,883$17,982$17,126$16,314$15,543$15,173
6 years$15,578$14,683$13,840$13,046$12,299$11,942
7 years$13,218$12,331$11,501$10,726$10,002$9,659
8 years$11,449$10,570$9,754$8,998$8,298$7,968
9 years$10,074$9,203$8,401$7,664$6,988$6,671
10 years$8,975$8,112$7,324$6,607$5,954$5,651
11 years$8,076$7,222$6,448$5,750$5,121$4,831
12 years$7,327$6,482$5,723$5,043$4,437$4,160
13 years$6,694$5,858$5,113$4,452$3,870$3,605
14 years$6,152$5,324$4,594$3,952$3,392$3,140
15 years$5,682$4,864$4,148$3,525$2,987$2,746
16 years$5,272$4,463$3,760$3,156$2,640$2,411
17 years$4,910$4,110$3,422$2,836$2,340$2,123
18 years$4,589$3,798$3,124$2,556$2,081$1,875
19 years$4,302$3,520$2,860$2,309$1,855$1,660
20 years$4,044$3,271$2,624$2,091$1,657$1,472
21 years$3,811$3,046$2,414$1,898$1,483$1,308
22 years$3,600$2,844$2,225$1,726$1,329$1,163
23 years$3,407$2,660$2,054$1,572$1,193$1,037
24 years$3,230$2,492$1,900$1,433$1,072$925
25 years$3,068$2,339$1,760$1,309$965$826
26 years$2,919$2,198$1,632$1,197$869$738
27 years$2,780$2,069$1,515$1,096$784$660
28 years$2,652$1,949$1,409$1,004$707$591
29 years$2,533$1,839$1,311$921$638$530
30 years$2,422$1,737$1,221$845$577$475
31 years$2,319$1,642$1,138$776$522$426
32 years$2,222$1,553$1,062$713$472$382
33 years$2,131$1,471$992$656$427$343
34 years$2,046$1,394$927$603$387$308
35 years$1,966$1,322$866$555$350$277
36 years$1,890$1,255$810$512$317$249
37 years$1,819$1,192$759$471$288$223
38 years$1,751$1,133$710$434$261$201
39 years$1,687$1,077$666$401$236$181
40 years$1,627$1,025$624$369$214$162
41 years$1,570$976$585$341$195$146
42 years$1,515$929$549$315$176$131
43 years$1,463$885$515$290$160$118
44 years$1,414$844$483$268$145$106
45 years$1,367$805$454$248$132$96
46 years$1,322$768$426$229$120$86
47 years$1,279$733$400$211$109$78
48 years$1,238$699$376$195$99$70
49 years$1,199$668$354$180$90$63
50 years$1,162$638$333$167$82$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,190,000, adding $2,878 every year, while hoping to spend $49,314 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: 33/50/17 Blend
63$1,190,000$1,190,000$1,190,000$1,190,000
64$1,314,349$1,251,279$1,232,834$1,350,685
65$1,395,943$1,260,122$1,221,664$1,386,573
66$1,484,206$1,267,745$1,208,467$1,420,456
67$1,579,768$1,274,037$1,193,123$1,455,922
68$1,683,318$1,278,879$1,175,507$1,493,135
69$1,795,617$1,282,144$1,155,487$1,532,285
70$1,917,499$1,283,698$1,132,925$1,573,579
71$2,049,883$1,283,399$1,107,676$1,617,252
72$2,193,779$1,281,093$1,079,592$1,663,565
73$2,350,299$1,276,621$1,048,513$1,712,810
74$2,520,666$1,269,812$1,014,274$1,765,314
75$2,706,225$1,260,484$976,704$1,821,441
76$2,908,457$1,248,446$935,621$1,881,596
77$3,128,993$1,233,493$890,837$1,946,233
78$3,369,625$1,215,409$842,155$2,015,856
79$3,632,328$1,193,965$789,369$2,091,027
80$3,919,275$1,168,919$732,262$2,172,372
81$4,232,860$1,140,014$670,611$2,260,585
82$4,575,715$1,106,978$604,180$2,356,442
83$4,950,741$1,069,523$532,723$2,460,803
84$5,361,131$1,027,344$455,984$2,574,625
85$5,810,401$980,119$373,694$2,698,969
86$6,302,424$927,507$285,575$2,835,017
87$6,841,463$869,147$191,334$2,984,079
88$7,432,214$804,657$90,665$3,147,608
89$8,079,849$733,634$0$3,327,219
90$8,790,063$655,651$0$3,527,741
91$9,569,130$570,259$0$3,765,867
92$10,423,960$476,981$0$4,027,396
93$11,362,165$375,313$0$4,314,832
94$12,392,127$264,725$0$4,630,945
95$13,523,083$144,656$0$4,978,797
96$14,765,206$14,512$0$5,361,778
97$16,129,702$0$0$5,783,635
98$17,628,918$0$0$6,318,018
99$19,276,455$0$0$6,914,234
100$21,087,296$0$0$7,569,746