Can I retire at age 64 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$73,082$72,431$71,796$71,176$70,571$69,431
2 years$36,179$35,506$34,853$34,219$33,605$32,459
3 years$23,880$23,203$22,552$21,925$21,321$20,205
4 years$17,732$17,057$16,412$15,796$15,206$14,129
5 years$14,043$13,373$12,736$12,132$11,559$10,525
6 years$11,585$10,920$10,293$9,702$9,147$8,155
7 years$9,830$9,171$8,553$7,977$7,439$6,490
8 years$8,515$7,861$7,254$6,692$6,171$5,266
9 years$7,492$6,844$6,248$5,700$5,197$4,335
10 years$6,674$6,033$5,447$4,913$4,428$3,608
11 years$6,006$5,371$4,795$4,276$3,808$3,029
12 years$5,449$4,820$4,256$3,751$3,300$2,562
13 years$4,978$4,356$3,802$3,311$2,878$2,178
14 years$4,575$3,960$3,416$2,939$2,523$1,861
15 years$4,226$3,617$3,085$2,621$2,221$1,597
16 years$3,921$3,319$2,797$2,347$1,963$1,374
17 years$3,652$3,057$2,545$2,109$1,741$1,186
18 years$3,413$2,824$2,323$1,901$1,548$1,026
19 years$3,200$2,618$2,127$1,717$1,379$889
20 years$3,008$2,432$1,952$1,555$1,232$772
21 years$2,834$2,266$1,795$1,412$1,103$671
22 years$2,677$2,115$1,655$1,283$988$584
23 years$2,534$1,978$1,528$1,169$887$509
24 years$2,402$1,853$1,413$1,066$797$444
25 years$2,282$1,739$1,309$974$718$388
26 years$2,170$1,635$1,214$890$646$339
27 years$2,068$1,538$1,127$815$583$296
28 years$1,972$1,450$1,048$747$526$259
29 years$1,884$1,368$975$685$475$227
30 years$1,801$1,291$908$628$429$198
31 years$1,724$1,221$847$577$388$174
32 years$1,652$1,155$790$530$351$152
33 years$1,585$1,094$738$488$318$133
34 years$1,521$1,037$689$449$287$117
35 years$1,462$983$644$413$260$103
36 years$1,406$933$603$380$236$90
37 years$1,353$887$564$351$214$79
38 years$1,302$843$528$323$194$69
39 years$1,255$801$495$298$176$61
40 years$1,210$762$464$275$159$53
41 years$1,167$726$435$253$145$47
42 years$1,127$691$408$234$131$41
43 years$1,088$658$383$216$119$36
44 years$1,052$628$359$199$108$32
45 years$1,017$598$337$184$98$28
46 years$983$571$317$170$89$24
47 years$951$545$298$157$81$21
48 years$921$520$280$145$73$19
49 years$892$497$263$134$67$16
50 years$864$474$247$124$61$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $885,000, adding $3,972 every year, while hoping to spend $56,526 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: 41/36/23 Blend
63$885,000$885,000$885,000$885,000
64$979,367$932,462$918,745$1,012,748
65$1,019,119$918,010$889,379$1,022,585
66$1,061,032$900,954$857,136$1,027,544
67$1,105,265$881,109$821,858$1,031,781
68$1,151,994$858,276$783,382$1,035,261
69$1,201,411$832,244$741,539$1,037,951
70$1,253,723$802,793$696,149$1,039,819
71$1,309,159$769,686$647,026$1,040,835
72$1,367,967$732,674$593,975$1,040,972
73$1,430,420$691,495$536,794$1,040,204
74$1,496,815$645,871$475,268$1,038,512
75$1,567,478$595,506$409,178$1,035,877
76$1,642,765$540,090$338,289$1,032,289
77$1,723,067$479,294$262,362$1,027,742
78$1,808,810$412,771$181,142$1,022,239
79$1,900,465$340,152$94,365$1,015,790
80$1,998,543$261,050$1,757$1,008,415
81$2,103,609$175,056$0$1,000,145
82$2,216,279$81,736$0$1,014,849
83$2,337,232$0$0$1,030,770
84$2,467,212$0$0$1,055,303
85$2,607,034$0$0$1,116,605
86$2,757,595$0$0$1,182,701
87$2,919,880$0$0$1,254,032
88$3,094,970$0$0$1,331,087
89$3,284,053$0$0$1,414,399
90$3,488,434$0$0$1,504,556
91$3,709,548$0$0$1,602,205
92$3,948,973$0$0$1,708,056
93$4,208,442$0$0$1,822,890
94$4,489,862$0$0$1,947,566
95$4,795,330$0$0$2,083,030
96$5,127,153$0$0$2,230,321
97$5,487,866$0$0$2,390,582
98$5,880,260$0$0$2,565,072
99$6,307,407$0$0$2,755,175
100$6,772,685$0$0$2,962,416