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%14.4%
1 years$73,991$73,332$72,689$72,061$71,448$70,149
2 years$36,629$35,947$35,286$34,645$34,023$32,719
3 years$24,177$23,492$22,832$22,197$21,586$20,317
4 years$17,952$17,269$16,616$15,992$15,395$14,172
5 years$14,218$13,539$12,895$12,283$11,703$10,529
6 years$11,729$11,056$10,421$9,823$9,260$8,136
7 years$9,953$9,285$8,660$8,076$7,531$6,457
8 years$8,621$7,959$7,344$6,775$6,248$5,224
9 years$7,585$6,929$6,326$5,771$5,261$4,287
10 years$6,757$6,108$5,515$4,974$4,483$3,558
11 years$6,080$5,437$4,855$4,329$3,856$2,978
12 years$5,517$4,880$4,309$3,797$3,341$2,510
13 years$5,040$4,410$3,850$3,352$2,914$2,127
14 years$4,632$4,009$3,459$2,976$2,554$1,812
15 years$4,279$3,662$3,123$2,654$2,249$1,549
16 years$3,970$3,360$2,831$2,376$1,987$1,328
17 years$3,697$3,094$2,576$2,135$1,762$1,142
18 years$3,456$2,859$2,352$1,924$1,567$984
19 years$3,239$2,650$2,153$1,739$1,397$850
20 years$3,045$2,463$1,976$1,575$1,247$735
21 years$2,870$2,294$1,818$1,429$1,116$637
22 years$2,710$2,141$1,675$1,299$1,001$552
23 years$2,565$2,003$1,547$1,183$898$479
24 years$2,432$1,876$1,430$1,079$807$417
25 years$2,310$1,761$1,325$986$726$362
26 years$2,197$1,655$1,229$901$654$315
27 years$2,093$1,557$1,141$825$590$274
28 years$1,997$1,468$1,061$756$532$239
29 years$1,907$1,384$987$693$481$208
30 years$1,824$1,308$919$636$434$182
31 years$1,746$1,236$857$584$393$158
32 years$1,673$1,170$800$537$355$138
33 years$1,605$1,108$747$494$321$121
34 years$1,540$1,050$698$454$291$105
35 years$1,480$996$652$418$264$92
36 years$1,423$945$610$385$239$80
37 years$1,369$898$571$355$216$70
38 years$1,319$853$535$327$196$61
39 years$1,271$811$501$302$178$53
40 years$1,225$772$470$278$161$47
41 years$1,182$735$440$257$146$41
42 years$1,141$700$413$237$133$36
43 years$1,102$667$388$219$121$31
44 years$1,065$635$364$202$109$27
45 years$1,029$606$342$186$99$24
46 years$995$578$321$172$90$21
47 years$963$552$301$159$82$18
48 years$932$527$283$147$74$16
49 years$903$503$266$136$68$14
50 years$875$480$250$126$61$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $896,000, adding $3,704 every year, while hoping to spend $58,482 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: 55/40/5 Blend
63$896,000$896,000$896,000$896,000
64$991,213$943,725$929,837$1,044,515
65$1,030,092$927,743$898,762$1,064,878
66$1,070,977$909,018$864,686$1,080,192
67$1,114,010$887,353$827,447$1,095,416
68$1,159,348$862,542$786,874$1,110,549
69$1,207,158$834,363$742,792$1,125,592
70$1,257,626$802,585$695,013$1,140,549
71$1,310,953$766,961$643,345$1,155,430
72$1,367,359$727,231$587,586$1,170,248
73$1,427,082$683,118$527,523$1,185,021
74$1,490,386$634,332$462,936$1,199,775
75$1,557,555$580,564$393,594$1,214,543
76$1,628,902$521,488$319,256$1,229,364
77$1,704,771$456,761$239,671$1,244,289
78$1,785,533$386,019$154,577$1,259,378
79$1,871,601$308,876$63,698$1,274,706
80$1,963,421$224,928$0$1,290,358
81$2,061,486$133,746$0$1,308,213
82$2,166,334$34,876$0$1,330,358
83$2,278,555$0$0$1,353,549
84$2,398,798$0$0$1,409,728
85$2,527,772$0$0$1,486,507
86$2,666,257$0$0$1,569,007
87$2,815,108$0$0$1,657,745
88$2,975,264$0$0$1,753,288
89$3,147,756$0$0$1,856,260
90$3,333,715$0$0$1,967,345
91$3,534,387$0$0$2,087,295
92$3,751,137$0$0$2,216,938
93$3,985,468$0$0$2,357,182
94$4,239,029$0$0$2,509,026
95$4,513,635$0$0$2,673,567
96$4,811,281$0$0$2,852,012
97$5,134,160$0$0$3,045,690
98$5,484,686$0$0$3,256,061
99$5,865,510$0$0$3,484,730
100$6,279,552$0$0$3,733,464