Can I retire at age 64 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$143,688$142,408$141,159$139,940$138,750$135,838
2 years$71,132$69,808$68,524$67,279$66,071$63,151
3 years$46,951$45,620$44,339$43,106$41,918$39,081
4 years$34,862$33,536$32,268$31,056$29,897$27,164
5 years$27,611$26,292$25,041$23,854$22,727$20,107
6 years$22,778$21,470$20,237$19,076$17,983$15,479
7 years$19,328$18,030$16,817$15,683$14,625$12,236
8 years$16,741$15,455$14,262$13,156$12,133$9,860
9 years$14,730$13,457$12,284$11,206$10,218$8,058
10 years$13,122$11,861$10,709$9,660$8,706$6,658
11 years$11,808$10,559$9,428$8,407$7,487$5,548
12 years$10,713$9,478$8,367$7,374$6,488$4,655
13 years$9,788$8,565$7,476$6,510$5,658$3,927
14 years$8,995$7,785$6,717$5,779$4,960$3,329
15 years$8,309$7,112$6,065$5,154$4,367$2,832
16 years$7,709$6,525$5,498$4,615$3,860$2,416
17 years$7,180$6,009$5,003$4,146$3,422$2,067
18 years$6,711$5,553$4,567$3,737$3,043$1,773
19 years$6,291$5,146$4,181$3,376$2,712$1,523
20 years$5,914$4,782$3,837$3,058$2,423$1,310
21 years$5,573$4,455$3,530$2,775$2,168$1,129
22 years$5,263$4,158$3,253$2,523$1,943$974
23 years$4,981$3,889$3,004$2,298$1,744$841
24 years$4,723$3,644$2,778$2,096$1,568$727
25 years$4,486$3,419$2,573$1,914$1,411$628
26 years$4,267$3,214$2,386$1,750$1,271$544
27 years$4,065$3,025$2,216$1,602$1,146$471
28 years$3,878$2,850$2,060$1,468$1,034$408
29 years$3,704$2,689$1,917$1,346$934$353
30 years$3,542$2,539$1,786$1,235$843$306
31 years$3,391$2,400$1,665$1,135$763$266
32 years$3,249$2,271$1,553$1,043$690$230
33 years$3,116$2,151$1,450$959$624$200
34 years$2,991$2,039$1,355$882$565$173
35 years$2,874$1,934$1,267$812$512$150
36 years$2,764$1,835$1,185$748$464$131
37 years$2,659$1,743$1,109$689$420$113
38 years$2,561$1,656$1,039$635$381$98
39 years$2,467$1,575$973$586$346$85
40 years$2,379$1,499$912$540$313$74
41 years$2,295$1,427$855$498$284$64
42 years$2,215$1,359$802$460$258$56
43 years$2,139$1,294$753$425$234$49
44 years$2,067$1,234$707$392$213$42
45 years$1,999$1,177$664$362$193$37
46 years$1,933$1,122$623$334$175$32
47 years$1,871$1,071$585$309$159$28
48 years$1,811$1,023$550$286$145$24
49 years$1,754$977$517$264$131$21
50 years$1,699$933$486$244$119$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $1,740,000, adding $6,222 every year, while hoping to spend $45,591 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: 58/30/12 Blend
63$1,740,000$1,740,000$1,740,000$1,740,000
64$1,923,898$1,831,678$1,804,708$2,029,428
65$2,071,627$1,872,922$1,816,657$2,142,589
66$2,232,897$1,914,658$1,827,479$2,260,262
67$2,409,039$1,956,864$1,837,087$2,387,442
68$2,601,523$1,999,512$1,845,391$2,525,047
69$2,811,963$2,042,573$1,852,296$2,674,090
70$3,042,138$2,086,013$1,857,702$2,835,685
71$3,294,006$2,129,798$1,861,506$3,011,059
72$3,569,725$2,173,888$1,863,596$3,201,565
73$3,871,668$2,218,240$1,863,858$3,408,693
74$4,202,451$2,262,807$1,862,170$3,634,085
75$4,564,954$2,307,538$1,858,406$3,879,549
76$4,962,349$2,352,376$1,852,432$4,147,080
77$5,398,129$2,397,263$1,844,109$4,438,874
78$5,876,141$2,442,132$1,833,289$4,757,352
79$6,400,624$2,486,913$1,819,821$5,105,180
80$6,976,245$2,531,529$1,803,543$5,485,300
81$7,608,146$2,575,899$1,784,286$5,900,950
82$8,301,992$2,619,932$1,761,874$6,355,702
83$9,064,021$2,663,535$1,736,122$6,853,490
84$9,901,107$2,706,603$1,706,838$7,398,652
85$10,820,820$2,749,028$1,673,818$7,995,966
86$11,831,504$2,790,690$1,636,850$8,650,702
87$12,942,346$2,831,462$1,595,714$9,368,666
88$14,163,471$2,871,210$1,550,176$10,156,256
89$15,506,032$2,909,786$1,499,994$11,020,527
90$16,982,319$2,947,037$1,444,915$11,969,253
91$18,605,868$2,982,795$1,384,673$13,011,001
92$20,391,597$3,016,882$1,318,990$14,155,215
93$22,355,941$3,049,110$1,247,576$15,412,305
94$24,517,006$3,079,276$1,170,129$16,793,743
95$26,894,743$3,107,163$1,086,332$18,312,174
96$29,511,136$3,132,543$995,852$19,981,535
97$32,390,404$3,155,169$898,345$21,817,187
98$35,559,235$3,174,782$793,450$23,836,061
99$39,047,034$3,191,104$680,788$26,056,818
100$42,886,203$3,203,840$559,966$28,500,027