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%12.1%
1 years$73,082$72,431$71,796$71,176$70,571$69,951
2 years$36,179$35,506$34,853$34,219$33,605$32,980
3 years$23,880$23,203$22,552$21,925$21,321$20,710
4 years$17,732$17,057$16,412$15,796$15,206$14,615
5 years$14,043$13,373$12,736$12,132$11,559$10,989
6 years$11,585$10,920$10,293$9,702$9,147$8,598
7 years$9,830$9,171$8,553$7,977$7,439$6,912
8 years$8,515$7,861$7,254$6,692$6,171$5,666
9 years$7,492$6,844$6,248$5,700$5,197$4,714
10 years$6,674$6,033$5,447$4,913$4,428$3,967
11 years$6,006$5,371$4,795$4,276$3,808$3,368
12 years$5,449$4,820$4,256$3,751$3,300$2,881
13 years$4,978$4,356$3,802$3,311$2,878$2,479
14 years$4,575$3,960$3,416$2,939$2,523$2,144
15 years$4,226$3,617$3,085$2,621$2,221$1,861
16 years$3,921$3,319$2,797$2,347$1,963$1,622
17 years$3,652$3,057$2,545$2,109$1,741$1,418
18 years$3,413$2,824$2,323$1,901$1,548$1,242
19 years$3,200$2,618$2,127$1,717$1,379$1,091
20 years$3,008$2,432$1,952$1,555$1,232$960
21 years$2,834$2,266$1,795$1,412$1,103$846
22 years$2,677$2,115$1,655$1,283$988$746
23 years$2,534$1,978$1,528$1,169$887$660
24 years$2,402$1,853$1,413$1,066$797$583
25 years$2,282$1,739$1,309$974$718$517
26 years$2,170$1,635$1,214$890$646$458
27 years$2,068$1,538$1,127$815$583$406
28 years$1,972$1,450$1,048$747$526$360
29 years$1,884$1,368$975$685$475$320
30 years$1,801$1,291$908$628$429$284
31 years$1,724$1,221$847$577$388$253
32 years$1,652$1,155$790$530$351$225
33 years$1,585$1,094$738$488$318$200
34 years$1,521$1,037$689$449$287$178
35 years$1,462$983$644$413$260$158
36 years$1,406$933$603$380$236$141
37 years$1,353$887$564$351$214$125
38 years$1,302$843$528$323$194$112
39 years$1,255$801$495$298$176$100
40 years$1,210$762$464$275$159$89
41 years$1,167$726$435$253$145$79
42 years$1,127$691$408$234$131$70
43 years$1,088$658$383$216$119$63
44 years$1,052$628$359$199$108$56
45 years$1,017$598$337$184$98$50
46 years$983$571$317$170$89$44
47 years$951$545$298$157$81$40
48 years$921$520$280$145$73$35
49 years$892$497$263$134$67$32
50 years$864$474$247$124$61$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $885,000, adding $4,933 every year, while hoping to spend $30,996 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: 55/25/20 Blend
63$885,000$885,000$885,000$885,000
64$980,358$933,453$919,736$1,028,721
65$1,047,375$946,213$917,568$1,075,095
66$1,120,189$958,559$914,288$1,121,865
67$1,199,359$970,439$909,826$1,172,123
68$1,285,498$981,795$904,110$1,226,212
69$1,379,283$992,567$897,063$1,284,509
70$1,481,459$1,002,692$888,603$1,347,433
71$1,592,843$1,012,099$878,646$1,415,443
72$1,714,337$1,020,716$867,105$1,489,048
73$1,846,933$1,028,464$853,886$1,568,811
74$1,991,722$1,035,261$838,893$1,655,351
75$2,149,906$1,041,017$822,025$1,749,353
76$2,322,809$1,045,639$803,175$1,851,571
77$2,511,886$1,049,026$782,232$1,962,840
78$2,718,742$1,051,072$759,080$2,084,079
79$2,945,142$1,051,664$733,598$2,216,305
80$3,193,032$1,050,680$705,659$2,360,638
81$3,464,552$1,047,994$675,129$2,518,316
82$3,762,061$1,043,471$641,871$2,690,703
83$4,088,156$1,036,965$605,738$2,879,307
84$4,445,696$1,028,325$566,579$3,085,789
85$4,837,834$1,017,390$524,236$3,311,983
86$5,268,037$1,003,986$478,542$3,559,915
87$5,740,129$987,934$429,325$3,831,816
88$6,258,319$969,039$376,404$4,130,151
89$6,827,244$947,098$319,591$4,457,639
90$7,452,013$921,896$258,687$4,817,277
91$8,138,252$893,203$193,487$5,212,374
92$8,892,161$860,777$123,776$5,646,580
93$9,720,569$824,363$49,330$6,123,921
94$10,630,998$783,688$0$6,648,836
95$11,631,738$738,467$0$7,232,650
96$12,731,919$688,395$0$7,885,992
97$13,941,601$633,153$0$8,604,336
98$15,271,869$572,402$0$9,394,310
99$16,734,933$505,783$0$10,263,221
100$18,344,247$432,917$0$11,219,125