Can I retire at age 64 with 897,000?

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 $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%11.5%
1 years$74,073$73,414$72,770$72,142$71,528$71,077
2 years$36,670$35,987$35,325$34,683$34,061$33,606
3 years$24,204$23,518$22,858$22,222$21,610$21,165
4 years$17,972$17,288$16,635$16,010$15,412$14,981
5 years$14,234$13,554$12,909$12,297$11,716$11,300
6 years$11,743$11,068$10,432$9,834$9,271$8,870
7 years$9,964$9,295$8,669$8,085$7,539$7,154
8 years$8,630$7,967$7,352$6,782$6,255$5,885
9 years$7,594$6,937$6,333$5,777$5,267$4,913
10 years$6,765$6,115$5,521$4,980$4,488$4,149
11 years$6,087$5,444$4,861$4,334$3,860$3,536
12 years$5,523$4,886$4,314$3,802$3,345$3,036
13 years$5,046$4,415$3,854$3,356$2,917$2,622
14 years$4,637$4,013$3,463$2,979$2,557$2,277
15 years$4,283$3,666$3,126$2,657$2,251$1,985
16 years$3,974$3,364$2,835$2,379$1,990$1,737
17 years$3,701$3,098$2,579$2,138$1,764$1,524
18 years$3,459$2,863$2,355$1,926$1,569$1,341
19 years$3,243$2,653$2,156$1,741$1,398$1,183
20 years$3,049$2,465$1,978$1,576$1,249$1,045
21 years$2,873$2,296$1,820$1,431$1,118$925
22 years$2,713$2,144$1,677$1,301$1,002$820
23 years$2,568$2,005$1,548$1,185$899$728
24 years$2,435$1,878$1,432$1,081$808$647
25 years$2,313$1,763$1,326$987$727$576
26 years$2,200$1,657$1,230$902$655$512
27 years$2,096$1,559$1,142$826$591$457
28 years$1,999$1,469$1,062$757$533$407
29 years$1,909$1,386$988$694$481$363
30 years$1,826$1,309$920$637$435$324
31 years$1,748$1,237$858$585$393$290
32 years$1,675$1,171$801$538$356$259
33 years$1,606$1,109$748$494$322$231
34 years$1,542$1,051$698$455$291$207
35 years$1,482$997$653$419$264$185
36 years$1,425$946$611$386$239$166
37 years$1,371$899$572$355$217$148
38 years$1,320$854$535$327$196$133
39 years$1,272$812$502$302$178$119
40 years$1,226$773$470$278$162$106
41 years$1,183$735$441$257$147$95
42 years$1,142$700$414$237$133$85
43 years$1,103$667$388$219$121$76
44 years$1,066$636$364$202$110$69
45 years$1,030$607$342$187$99$61
46 years$997$579$321$172$90$55
47 years$964$552$302$159$82$49
48 years$933$527$284$147$74$44
49 years$904$503$267$136$68$40
50 years$876$481$251$126$61$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $897,000, adding $4,670 every year, while hoping to spend $49,616 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: 63/11/26 Blend
63$897,000$897,000$897,000$897,000
64$993,311$945,770$931,867$1,048,773
65$1,041,838$939,322$910,293$1,080,436
66$1,093,651$930,895$886,334$1,109,128
67$1,149,034$920,339$859,857$1,139,380
68$1,208,297$907,497$830,724$1,171,352
69$1,271,780$892,201$798,789$1,205,223
70$1,339,855$874,273$763,902$1,241,189
71$1,412,933$853,524$725,905$1,279,471
72$1,491,461$829,755$684,632$1,320,314
73$1,575,932$802,756$639,910$1,363,989
74$1,666,889$772,303$591,558$1,410,797
75$1,764,925$738,159$539,389$1,461,073
76$1,870,693$700,074$483,204$1,515,189
77$1,984,910$657,785$422,798$1,573,558
78$2,108,365$611,010$357,956$1,636,635
79$2,241,924$559,455$288,452$1,704,930
80$2,386,538$502,806$214,054$1,779,002
81$2,543,255$440,734$134,515$1,859,477
82$2,713,226$372,889$49,580$1,947,043
83$2,897,717$298,902$0$2,042,467
84$3,098,120$218,384$0$2,157,985
85$3,315,965$130,922$0$2,298,564
86$3,552,939$36,083$0$2,451,554
87$3,810,895$0$0$2,618,187
88$4,091,873$0$0$2,807,885
89$4,398,116$0$0$3,019,460
90$4,732,096$0$0$3,250,258
91$5,096,531$0$0$3,502,167
92$5,494,413$0$0$3,777,262
93$5,929,038$0$0$4,077,831
94$6,404,032$0$0$4,406,388
95$6,923,388$0$0$4,765,706
96$7,491,501$0$0$5,158,835
97$8,113,213$0$0$5,589,135
98$8,793,852$0$0$6,060,304
99$9,539,290$0$0$6,576,417
100$10,355,989$0$0$7,141,959