Can I retire at age 64 with 896,000?

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 $896,000?

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 years$73,991$73,332$72,689$72,061$71,448$70,850
2 years$36,629$35,947$35,286$34,645$34,023$33,420
3 years$24,177$23,492$22,832$22,197$21,586$20,996
4 years$17,952$17,269$16,616$15,992$15,395$14,824
5 years$14,218$13,539$12,895$12,283$11,703$11,152
6 years$11,729$11,056$10,421$9,823$9,260$8,730
7 years$9,953$9,285$8,660$8,076$7,531$7,022
8 years$8,621$7,959$7,344$6,775$6,248$5,760
9 years$7,585$6,929$6,326$5,771$5,261$4,795
10 years$6,757$6,108$5,515$4,974$4,483$4,037
11 years$6,080$5,437$4,855$4,329$3,856$3,430
12 years$5,517$4,880$4,309$3,797$3,341$2,936
13 years$5,040$4,410$3,850$3,352$2,914$2,528
14 years$4,632$4,009$3,459$2,976$2,554$2,187
15 years$4,279$3,662$3,123$2,654$2,249$1,900
16 years$3,970$3,360$2,831$2,376$1,987$1,657
17 years$3,697$3,094$2,576$2,135$1,762$1,449
18 years$3,456$2,859$2,352$1,924$1,567$1,271
19 years$3,239$2,650$2,153$1,739$1,397$1,117
20 years$3,045$2,463$1,976$1,575$1,247$983
21 years$2,870$2,294$1,818$1,429$1,116$867
22 years$2,710$2,141$1,675$1,299$1,001$766
23 years$2,565$2,003$1,547$1,183$898$677
24 years$2,432$1,876$1,430$1,079$807$600
25 years$2,310$1,761$1,325$986$726$531
26 years$2,197$1,655$1,229$901$654$471
27 years$2,093$1,557$1,141$825$590$418
28 years$1,997$1,468$1,061$756$532$372
29 years$1,907$1,384$987$693$481$330
30 years$1,824$1,308$919$636$434$294
31 years$1,746$1,236$857$584$393$261
32 years$1,673$1,170$800$537$355$232
33 years$1,605$1,108$747$494$321$207
34 years$1,540$1,050$698$454$291$184
35 years$1,480$996$652$418$264$164
36 years$1,423$945$610$385$239$146
37 years$1,369$898$571$355$216$130
38 years$1,319$853$535$327$196$116
39 years$1,271$811$501$302$178$104
40 years$1,225$772$470$278$161$92
41 years$1,182$735$440$257$146$82
42 years$1,141$700$413$237$133$73
43 years$1,102$667$388$219$121$66
44 years$1,065$635$364$202$109$58
45 years$1,029$606$342$186$99$52
46 years$995$578$321$172$90$47
47 years$963$552$301$159$82$42
48 years$932$527$283$147$74$37
49 years$903$503$266$136$68$33
50 years$875$480$250$126$61$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $896,000, adding $4,501 every year, while hoping to spend $52,244 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: 84/6/10 Blend
63$896,000$896,000$896,000$896,000
64$992,035$944,547$930,659$1,073,513
65$1,037,635$935,242$906,249$1,118,155
66$1,086,136$923,731$879,270$1,159,700
67$1,137,777$909,849$849,581$1,203,727
68$1,192,823$893,425$817,034$1,250,456
69$1,251,562$874,273$781,476$1,300,126
70$1,314,310$852,201$742,744$1,353,000
71$1,381,413$827,003$700,670$1,409,370
72$1,453,252$798,461$655,077$1,469,556
73$1,530,243$766,345$605,781$1,533,909
74$1,612,843$730,411$552,590$1,602,817
75$1,701,553$690,401$495,302$1,676,708
76$1,796,924$646,044$433,708$1,756,054
77$1,899,560$597,050$367,586$1,841,371
78$2,010,125$543,114$296,710$1,933,232
79$2,129,346$483,916$220,838$2,032,267
80$2,258,025$419,113$139,722$2,139,169
81$2,397,042$348,347$53,100$2,254,703
82$2,547,361$271,238$0$2,379,713
83$2,710,047$187,383$0$2,519,325
84$2,886,267$96,360$0$2,676,684
85$3,077,304$0$0$2,847,279
86$3,284,571$0$0$3,032,538
87$3,509,622$0$0$3,240,613
88$3,754,163$0$0$3,466,723
89$4,020,074$0$0$3,712,606
90$4,309,422$0$0$3,980,175
91$4,624,481$0$0$4,271,537
92$4,967,755$0$0$4,589,007
93$5,341,997$0$0$4,935,135
94$5,750,239$0$0$5,312,727
95$6,195,818$0$0$5,724,870
96$6,682,406$0$0$6,174,965
97$7,214,046$0$0$6,666,753
98$7,795,190$0$0$7,204,355
99$8,430,738$0$0$7,792,307
100$9,126,085$0$0$8,435,602