Can I retire at age 64 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$74,073$73,414$72,770$72,142$71,528$70,199
2 years$36,670$35,987$35,325$34,683$34,061$32,727
3 years$24,204$23,518$22,858$22,222$21,610$20,312
4 years$17,972$17,288$16,635$16,010$15,412$14,161
5 years$14,234$13,554$12,909$12,297$11,716$10,515
6 years$11,743$11,068$10,432$9,834$9,271$8,121
7 years$9,964$9,295$8,669$8,085$7,539$6,442
8 years$8,630$7,967$7,352$6,782$6,255$5,209
9 years$7,594$6,937$6,333$5,777$5,267$4,272
10 years$6,765$6,115$5,521$4,980$4,488$3,543
11 years$6,087$5,444$4,861$4,334$3,860$2,964
12 years$5,523$4,886$4,314$3,802$3,345$2,496
13 years$5,046$4,415$3,854$3,356$2,917$2,114
14 years$4,637$4,013$3,463$2,979$2,557$1,799
15 years$4,283$3,666$3,126$2,657$2,251$1,537
16 years$3,974$3,364$2,835$2,379$1,990$1,317
17 years$3,701$3,098$2,579$2,138$1,764$1,132
18 years$3,459$2,863$2,355$1,926$1,569$975
19 years$3,243$2,653$2,156$1,741$1,398$841
20 years$3,049$2,465$1,978$1,576$1,249$727
21 years$2,873$2,296$1,820$1,431$1,118$629
22 years$2,713$2,144$1,677$1,301$1,002$545
23 years$2,568$2,005$1,548$1,185$899$473
24 years$2,435$1,878$1,432$1,081$808$411
25 years$2,313$1,763$1,326$987$727$357
26 years$2,200$1,657$1,230$902$655$310
27 years$2,096$1,559$1,142$826$591$270
28 years$1,999$1,469$1,062$757$533$235
29 years$1,909$1,386$988$694$481$205
30 years$1,826$1,309$920$637$435$178
31 years$1,748$1,237$858$585$393$155
32 years$1,675$1,171$801$538$356$135
33 years$1,606$1,109$748$494$322$118
34 years$1,542$1,051$698$455$291$103
35 years$1,482$997$653$419$264$90
36 years$1,425$946$611$386$239$78
37 years$1,371$899$572$355$217$68
38 years$1,320$854$535$327$196$60
39 years$1,272$812$502$302$178$52
40 years$1,226$773$470$278$162$45
41 years$1,183$735$441$257$147$40
42 years$1,142$700$414$237$133$35
43 years$1,103$667$388$219$121$30
44 years$1,066$636$364$202$110$26
45 years$1,030$607$342$187$99$23
46 years$997$579$321$172$90$20
47 years$964$552$302$159$82$18
48 years$933$527$284$147$74$15
49 years$904$503$267$136$68$13
50 years$876$481$251$126$61$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $897,000, adding $3,725 every year, while hoping to spend $46,908 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: 65/10/25 Blend
63$897,000$897,000$897,000$897,000
64$992,336$944,795$930,892$1,050,133
65$1,043,645$941,181$912,167$1,085,945
66$1,098,615$935,817$891,243$1,119,476
67$1,157,570$928,568$867,996$1,155,068
68$1,220,866$919,291$842,297$1,192,927
69$1,288,892$907,835$814,012$1,233,282
70$1,362,078$894,037$783,000$1,276,386
71$1,440,892$877,728$749,113$1,322,521
72$1,525,852$858,725$712,197$1,371,996
73$1,617,524$836,838$672,091$1,425,158
74$1,716,532$811,864$628,627$1,482,388
75$1,823,561$783,587$581,628$1,544,109
76$1,939,362$751,781$530,911$1,610,788
77$2,064,764$716,206$476,284$1,682,943
78$2,200,676$676,606$417,545$1,761,147
79$2,348,099$632,713$354,486$1,846,036
80$2,508,131$584,242$286,888$1,938,310
81$2,681,983$530,893$214,521$2,038,745
82$2,870,986$472,347$137,148$2,148,201
83$3,076,603$408,269$54,520$2,267,626
84$3,300,446$338,303$0$2,398,069
85$3,544,287$262,075$0$2,549,671
86$3,810,076$179,189$0$2,730,838
87$4,099,960$89,226$0$2,928,506
88$4,416,302$0$0$3,144,320
89$4,761,703$0$0$3,381,002
90$5,139,025$0$0$3,650,338
91$5,551,420$0$0$3,944,768
92$6,002,358$0$0$4,266,776
93$6,495,659$0$0$4,619,098
94$7,035,531$0$0$5,004,745
95$7,626,605$0$0$5,427,035
96$8,273,983$0$0$5,889,621
97$8,983,281$0$0$6,396,524
98$9,760,686$0$0$6,952,176
99$10,613,011$0$0$7,561,455
100$11,547,760$0$0$8,229,736