Can I retire at age 64 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$110,656$109,670$108,709$107,770$106,853$104,782
2 years$54,780$53,760$52,771$51,813$50,883$48,804
3 years$36,157$35,133$34,146$33,197$32,282$30,261
4 years$26,848$25,826$24,850$23,916$23,024$21,076
5 years$21,263$20,248$19,285$18,370$17,502$15,633
6 years$17,542$16,534$15,585$14,691$13,849$12,061
7 years$14,885$13,885$12,951$12,078$11,263$9,556
8 years$12,893$11,902$10,983$10,132$9,344$7,718
9 years$11,344$10,363$9,460$8,630$7,869$6,323
10 years$10,106$9,135$8,248$7,439$6,705$5,237
11 years$9,093$8,132$7,261$6,474$5,766$4,375
12 years$8,250$7,299$6,444$5,679$4,997$3,680
13 years$7,538$6,596$5,757$5,014$4,357$3,113
14 years$6,927$5,996$5,173$4,451$3,820$2,646
15 years$6,399$5,477$4,670$3,969$3,363$2,257
16 years$5,937$5,025$4,234$3,554$2,972$1,931
17 years$5,529$4,628$3,853$3,193$2,635$1,657
18 years$5,168$4,276$3,517$2,878$2,343$1,425
19 years$4,845$3,963$3,220$2,600$2,089$1,228
20 years$4,554$3,683$2,955$2,355$1,866$1,060
21 years$4,292$3,430$2,718$2,137$1,670$916
22 years$4,053$3,202$2,505$1,943$1,496$792
23 years$3,836$2,995$2,313$1,770$1,343$686
24 years$3,637$2,806$2,139$1,614$1,207$595
25 years$3,455$2,633$1,981$1,474$1,086$516
26 years$3,286$2,475$1,838$1,348$979$448
27 years$3,131$2,329$1,706$1,234$882$389
28 years$2,987$2,195$1,586$1,130$796$338
29 years$2,853$2,071$1,476$1,037$719$294
30 years$2,728$1,955$1,375$951$650$256
31 years$2,611$1,849$1,282$874$587$223
32 years$2,502$1,749$1,196$803$531$194
33 years$2,400$1,656$1,117$738$481$169
34 years$2,304$1,570$1,043$679$435$147
35 years$2,213$1,489$976$625$394$128
36 years$2,128$1,413$913$576$357$111
37 years$2,048$1,342$854$531$324$97
38 years$1,972$1,276$800$489$294$84
39 years$1,900$1,213$749$451$266$74
40 years$1,832$1,154$702$416$241$64
41 years$1,767$1,099$659$384$219$56
42 years$1,706$1,046$618$354$199$49
43 years$1,648$997$580$327$180$42
44 years$1,592$950$544$302$164$37
45 years$1,539$906$511$279$149$32
46 years$1,489$864$480$258$135$28
47 years$1,441$825$451$238$123$24
48 years$1,394$788$424$220$111$21
49 years$1,350$752$398$203$101$19
50 years$1,308$718$374$188$92$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,340,000, adding $5,027 every year, while hoping to spend $53,682 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: 57/30/13 Blend
63$1,340,000$1,340,000$1,340,000$1,340,000
64$1,481,865$1,410,845$1,390,075$1,561,175
65$1,575,898$1,422,860$1,379,526$1,627,414
66$1,677,724$1,433,663$1,366,823$1,693,207
67$1,788,079$1,443,140$1,351,840$1,763,638
68$1,907,777$1,451,168$1,334,440$1,839,161
69$2,037,709$1,457,614$1,314,482$1,920,276
70$2,178,857$1,462,339$1,291,819$2,007,536
71$2,332,301$1,465,194$1,266,296$2,101,552
72$2,499,229$1,466,022$1,237,751$2,203,000
73$2,680,949$1,464,656$1,206,014$2,312,623
74$2,878,899$1,460,917$1,170,908$2,431,248
75$3,094,660$1,454,615$1,132,247$2,559,783
76$3,329,976$1,445,552$1,089,838$2,699,233
77$3,586,764$1,433,514$1,043,477$2,850,710
78$3,867,133$1,418,276$992,953$3,015,439
79$4,173,407$1,399,598$938,044$3,194,775
80$4,508,144$1,377,228$878,518$3,390,213
81$4,874,159$1,350,896$814,133$3,603,406
82$5,274,553$1,320,320$744,635$3,836,178
83$5,712,738$1,285,196$669,762$4,090,542
84$6,192,474$1,245,207$589,235$4,368,723
85$6,717,900$1,200,016$502,768$4,673,175
86$7,293,573$1,149,265$410,059$5,006,609
87$7,924,515$1,092,575$310,793$5,372,018
88$8,616,253$1,029,549$204,641$5,772,705
89$9,374,876$959,762$91,263$6,212,315
90$10,207,092$882,769$0$6,694,873
91$11,120,287$798,096$0$7,228,945
92$12,122,598$705,245$0$7,829,086
93$13,222,988$603,687$0$8,488,087
94$14,431,330$492,865$0$9,211,975
95$15,758,500$372,190$0$10,007,395
96$17,216,480$241,040$0$10,881,676
97$18,818,468$98,758$0$11,842,904
98$20,579,005$0$0$12,899,993
99$22,514,110$0$0$14,081,045
100$24,641,431$0$0$15,415,380