Can I retire at age 64 with 894,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.2%
1 years$73,826$73,168$72,527$71,900$71,289$68,924
2 years$36,547$35,867$35,207$34,567$33,947$31,588
3 years$24,123$23,439$22,781$22,148$21,537$19,257
4 years$17,912$17,230$16,579$15,956$15,361$13,177
5 years$14,186$13,509$12,866$12,256$11,677$9,596
6 years$11,703$11,031$10,398$9,801$9,240$7,263
7 years$9,930$9,264$8,640$8,058$7,514$5,642
8 years$8,601$7,941$7,328$6,760$6,234$4,464
9 years$7,568$6,914$6,311$5,758$5,250$3,580
10 years$6,742$6,094$5,502$4,963$4,473$2,902
11 years$6,067$5,425$4,844$4,320$3,847$2,370
12 years$5,504$4,869$4,299$3,789$3,334$1,949
13 years$5,029$4,401$3,841$3,345$2,907$1,610
14 years$4,622$4,000$3,451$2,969$2,548$1,336
15 years$4,269$3,654$3,116$2,648$2,244$1,112
16 years$3,961$3,353$2,825$2,371$1,983$928
17 years$3,689$3,088$2,571$2,130$1,758$776
18 years$3,448$2,853$2,347$1,920$1,563$651
19 years$3,232$2,644$2,148$1,735$1,393$546
20 years$3,038$2,457$1,972$1,571$1,245$459
21 years$2,863$2,289$1,813$1,426$1,114$386
22 years$2,704$2,136$1,671$1,297$998$325
23 years$2,559$1,998$1,543$1,181$896$274
24 years$2,427$1,872$1,427$1,077$806$231
25 years$2,305$1,757$1,322$984$725$195
26 years$2,193$1,651$1,226$899$653$164
27 years$2,089$1,554$1,138$823$589$139
28 years$1,993$1,464$1,058$754$531$117
29 years$1,903$1,381$985$692$480$99
30 years$1,820$1,305$917$635$433$84
31 years$1,742$1,233$855$583$392$71
32 years$1,669$1,167$798$536$354$60
33 years$1,601$1,105$745$493$321$51
34 years$1,537$1,047$696$453$290$43
35 years$1,477$993$651$417$263$36
36 years$1,420$943$609$384$238$31
37 years$1,366$896$570$354$216$26
38 years$1,316$851$534$326$196$22
39 years$1,268$809$500$301$178$18
40 years$1,222$770$469$278$161$16
41 years$1,179$733$439$256$146$13
42 years$1,138$698$412$236$133$11
43 years$1,099$665$387$218$120$9
44 years$1,062$634$363$201$109$8
45 years$1,027$605$341$186$99$7
46 years$993$577$320$172$90$6
47 years$961$550$301$159$82$5
48 years$930$525$283$147$74$4
49 years$901$502$266$136$67$3
50 years$873$479$250$125$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $894,000, adding $4,055 every year, while hoping to spend $35,718 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: 40/35/25 Blend
63$894,000$894,000$894,000$894,000
64$989,371$941,989$928,132$1,021,494
65$1,052,283$950,143$921,220$1,053,232
66$1,120,415$957,499$912,881$1,083,890
67$1,194,262$963,981$903,026$1,116,357
68$1,274,367$969,506$891,568$1,150,821
69$1,361,329$973,989$878,413$1,187,487
70$1,455,806$977,336$863,461$1,226,589
71$1,558,522$979,449$846,611$1,268,381
72$1,670,273$980,224$827,754$1,313,148
73$1,791,936$979,549$806,778$1,361,208
74$1,924,473$977,307$783,565$1,412,912
75$2,068,947$973,373$757,992$1,468,649
76$2,226,525$967,613$729,930$1,528,852
77$2,398,491$959,887$699,244$1,594,002
78$2,586,262$950,046$665,793$1,664,630
79$2,791,394$937,931$629,430$1,741,328
80$3,015,601$923,375$590,001$1,824,749
81$3,260,771$906,199$547,345$1,915,619
82$3,528,981$886,215$501,293$2,014,741
83$3,822,522$863,224$451,671$2,123,006
84$4,143,911$837,014$398,294$2,241,398
85$4,495,924$807,361$340,970$2,371,011
86$4,881,616$774,030$279,501$2,513,052
87$5,304,353$736,770$213,676$2,668,859
88$5,767,841$695,315$143,278$2,839,912
89$6,276,161$649,386$68,078$3,027,849
90$6,833,810$598,686$0$3,234,482
91$7,445,740$542,903$0$3,465,062
92$8,117,405$481,705$0$3,738,148
93$8,854,814$414,743$0$4,038,082
94$9,664,587$341,647$0$4,367,645
95$10,554,014$262,026$0$4,729,906
96$11,531,126$175,469$0$5,128,255
97$12,604,773$81,539$0$5,566,431
98$13,784,703$0$0$6,048,562
99$15,081,654$0$0$6,586,991
100$16,507,458$0$0$7,213,564