Can I retire at age 64 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$69,944$69,321$68,714$68,120$67,541$67,200
2 years$34,626$33,981$33,356$32,750$32,162$31,818
3 years$22,855$22,207$21,584$20,983$20,405$20,068
4 years$16,970$16,325$15,707$15,117$14,553$14,226
5 years$13,440$12,799$12,190$11,612$11,063$10,747
6 years$11,088$10,451$9,851$9,286$8,754$8,450
7 years$9,408$8,777$8,186$7,634$7,119$6,827
8 years$8,149$7,523$6,943$6,404$5,906$5,625
9 years$7,170$6,550$5,980$5,455$4,974$4,705
10 years$6,388$5,774$5,213$4,702$4,238$3,980
11 years$5,748$5,140$4,590$4,092$3,645$3,398
12 years$5,215$4,613$4,073$3,590$3,158$2,923
13 years$4,765$4,169$3,639$3,169$2,754$2,530
14 years$4,379$3,790$3,270$2,813$2,414$2,200
15 years$4,045$3,462$2,952$2,509$2,126$1,922
16 years$3,753$3,176$2,677$2,246$1,879$1,685
17 years$3,495$2,925$2,436$2,018$1,666$1,482
18 years$3,267$2,703$2,223$1,819$1,481$1,307
19 years$3,062$2,505$2,035$1,644$1,320$1,155
20 years$2,879$2,328$1,868$1,489$1,179$1,023
21 years$2,713$2,168$1,718$1,351$1,055$907
22 years$2,562$2,024$1,584$1,228$946$806
23 years$2,425$1,893$1,462$1,119$849$717
24 years$2,299$1,774$1,352$1,020$763$639
25 years$2,184$1,665$1,252$932$687$570
26 years$2,077$1,564$1,162$852$619$508
27 years$1,979$1,472$1,079$780$558$454
28 years$1,888$1,387$1,003$715$503$406
29 years$1,803$1,309$933$655$454$363
30 years$1,724$1,236$869$601$411$325
31 years$1,650$1,168$810$552$371$291
32 years$1,581$1,106$756$508$336$261
33 years$1,517$1,047$706$467$304$234
34 years$1,456$992$660$429$275$209
35 years$1,399$941$617$395$249$188
36 years$1,345$893$577$364$226$168
37 years$1,294$848$540$335$205$151
38 years$1,246$806$506$309$186$136
39 years$1,201$767$474$285$168$122
40 years$1,158$730$444$263$153$109
41 years$1,117$694$416$243$138$98
42 years$1,078$661$391$224$126$88
43 years$1,041$630$366$207$114$79
44 years$1,006$601$344$191$103$71
45 years$973$573$323$176$94$64
46 years$941$546$303$163$85$57
47 years$911$521$285$150$77$52
48 years$881$498$268$139$70$46
49 years$854$475$252$128$64$42
50 years$827$454$237$119$58$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $847,000, adding $6,101 every year, while hoping to spend $39,696 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: 70/6/24 Blend
63$847,000$847,000$847,000$847,000
64$939,687$894,796$881,668$999,364
65$993,299$896,405$868,967$1,041,669
66$1,051,049$896,762$854,511$1,082,763
67$1,113,317$895,764$838,198$1,126,801
68$1,180,521$893,302$819,923$1,174,070
69$1,253,119$889,259$799,576$1,224,892
70$1,331,616$883,512$777,041$1,279,617
71$1,416,566$875,930$752,197$1,338,636
72$1,508,579$866,373$724,918$1,402,379
73$1,608,324$854,695$695,073$1,471,321
74$1,716,538$840,740$662,523$1,545,985
75$1,834,030$824,342$627,123$1,626,951
76$1,961,693$805,327$588,724$1,714,859
77$2,100,506$783,508$547,166$1,810,412
78$2,251,548$758,690$502,286$1,914,391
79$2,416,005$730,665$453,912$2,027,654
80$2,595,183$699,213$401,863$2,151,151
81$2,790,518$664,101$345,952$2,285,929
82$3,003,592$625,083$285,983$2,433,144
83$3,236,146$581,899$221,751$2,594,071
84$3,490,095$534,275$153,041$2,770,119
85$3,767,548$481,918$79,632$2,962,840
86$4,070,828$424,522$1,290$3,173,950
87$4,402,491$361,761$0$3,405,338
88$4,765,351$293,294$0$3,680,173
89$5,162,507$218,756$0$3,981,398
90$5,597,373$137,765$0$4,311,292
91$6,073,707$49,917$0$4,672,728
92$6,595,646$0$0$5,068,871
93$7,167,750$0$0$5,506,193
94$7,795,037$0$0$5,989,358
95$8,483,038$0$0$6,519,334
96$9,237,841$0$0$7,100,818
97$10,066,154$0$0$7,738,983
98$10,975,366$0$0$8,439,529
99$11,973,615$0$0$9,208,732
100$13,069,867$0$0$10,053,507