Can I retire at age 64 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$73,826$73,168$72,527$71,900$71,289$70,899
2 years$36,547$35,867$35,207$34,567$33,947$33,554
3 years$24,123$23,439$22,781$22,148$21,537$21,153
4 years$17,912$17,230$16,579$15,956$15,361$14,988
5 years$14,186$13,509$12,866$12,256$11,677$11,317
6 years$11,703$11,031$10,398$9,801$9,240$8,892
7 years$9,930$9,264$8,640$8,058$7,514$7,180
8 years$8,601$7,941$7,328$6,760$6,234$5,913
9 years$7,568$6,914$6,311$5,758$5,250$4,943
10 years$6,742$6,094$5,502$4,963$4,473$4,179
11 years$6,067$5,425$4,844$4,320$3,847$3,566
12 years$5,504$4,869$4,299$3,789$3,334$3,065
13 years$5,029$4,401$3,841$3,345$2,907$2,651
14 years$4,622$4,000$3,451$2,969$2,548$2,305
15 years$4,269$3,654$3,116$2,648$2,244$2,012
16 years$3,961$3,353$2,825$2,371$1,983$1,763
17 years$3,689$3,088$2,571$2,130$1,758$1,549
18 years$3,448$2,853$2,347$1,920$1,563$1,365
19 years$3,232$2,644$2,148$1,735$1,393$1,206
20 years$3,038$2,457$1,972$1,571$1,245$1,067
21 years$2,863$2,289$1,813$1,426$1,114$946
22 years$2,704$2,136$1,671$1,297$998$840
23 years$2,559$1,998$1,543$1,181$896$746
24 years$2,427$1,872$1,427$1,077$806$664
25 years$2,305$1,757$1,322$984$725$592
26 years$2,193$1,651$1,226$899$653$528
27 years$2,089$1,554$1,138$823$589$471
28 years$1,993$1,464$1,058$754$531$421
29 years$1,903$1,381$985$692$480$376
30 years$1,820$1,305$917$635$433$336
31 years$1,742$1,233$855$583$392$301
32 years$1,669$1,167$798$536$354$269
33 years$1,601$1,105$745$493$321$241
34 years$1,537$1,047$696$453$290$216
35 years$1,477$993$651$417$263$194
36 years$1,420$943$609$384$238$173
37 years$1,366$896$570$354$216$156
38 years$1,316$851$534$326$196$139
39 years$1,268$809$500$301$178$125
40 years$1,222$770$469$278$161$112
41 years$1,179$733$439$256$146$101
42 years$1,138$698$412$236$133$90
43 years$1,099$665$387$218$120$81
44 years$1,062$634$363$201$109$73
45 years$1,027$605$341$186$99$65
46 years$993$577$320$172$90$59
47 years$961$550$301$159$82$53
48 years$930$525$283$147$74$47
49 years$901$502$266$136$67$42
50 years$873$479$250$125$61$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $894,000, adding $5,109 every year, while hoping to spend $55,756 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: 42/48/10 Blend
63$894,000$894,000$894,000$894,000
64$990,458$943,076$929,219$1,028,949
65$1,032,161$929,963$901,024$1,043,236
66$1,076,248$914,338$870,015$1,052,700
67$1,122,906$896,021$836,041$1,061,695
68$1,172,333$874,817$798,940$1,070,200
69$1,224,752$850,524$758,545$1,078,197
70$1,280,402$822,924$714,681$1,085,671
71$1,339,546$791,791$667,166$1,092,611
72$1,402,471$756,880$615,808$1,099,006
73$1,469,493$717,938$560,407$1,104,854
74$1,540,957$674,692$500,756$1,110,158
75$1,617,240$626,857$436,637$1,114,924
76$1,698,755$574,129$367,821$1,119,168
77$1,785,956$516,190$294,071$1,122,916
78$1,879,340$452,700$215,139$1,126,201
79$1,979,453$383,303$130,766$1,129,069
80$2,086,893$307,620$40,683$1,131,580
81$2,202,316$225,253$0$1,133,807
82$2,326,443$135,781$0$1,141,758
83$2,460,064$38,759$0$1,154,644
84$2,604,050$0$0$1,168,286
85$2,759,353$0$0$1,217,885
86$2,927,022$0$0$1,293,622
87$3,108,209$0$0$1,375,558
88$3,304,180$0$0$1,464,275
89$3,516,327$0$0$1,560,417
90$3,746,179$0$0$1,664,688
91$3,995,419$0$0$1,777,867
92$4,265,895$0$0$1,900,806
93$4,559,642$0$0$2,034,445
94$4,878,899$0$0$2,179,817
95$5,226,126$0$0$2,338,060
96$5,604,032$0$0$2,510,425
97$6,015,597$0$0$2,698,289
98$6,464,101$0$0$2,903,166
99$6,953,151$0$0$3,126,724
100$7,486,720$0$0$3,370,800