Can I retire at age 64 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$75,642$74,969$74,311$73,670$73,043$71,656
2 years$37,447$36,749$36,073$35,418$34,782$33,391
3 years$24,717$24,016$23,342$22,693$22,067$20,714
4 years$18,353$17,654$16,987$16,349$15,739$14,434
5 years$14,535$13,841$13,183$12,557$11,964$10,712
6 years$11,991$11,302$10,653$10,042$9,467$8,269
7 years$10,175$9,492$8,853$8,256$7,699$6,555
8 years$8,813$8,136$7,508$6,926$6,387$5,297
9 years$7,755$7,084$6,467$5,899$5,379$4,342
10 years$6,908$6,244$5,638$5,085$4,583$3,599
11 years$6,216$5,559$4,963$4,426$3,942$3,008
12 years$5,640$4,989$4,405$3,882$3,416$2,532
13 years$5,153$4,509$3,936$3,427$2,979$2,144
14 years$4,735$4,098$3,536$3,042$2,611$1,823
15 years$4,374$3,744$3,193$2,713$2,299$1,556
16 years$4,058$3,435$2,895$2,429$2,032$1,333
17 years$3,780$3,164$2,634$2,183$1,802$1,144
18 years$3,533$2,923$2,404$1,967$1,602$985
19 years$3,312$2,709$2,201$1,777$1,428$849
20 years$3,113$2,518$2,020$1,610$1,275$733
21 years$2,934$2,345$1,858$1,461$1,141$634
22 years$2,771$2,189$1,713$1,328$1,023$549
23 years$2,622$2,047$1,581$1,210$918$476
24 years$2,486$1,918$1,462$1,103$825$413
25 years$2,362$1,800$1,354$1,008$743$359
26 years$2,247$1,692$1,256$921$669$312
27 years$2,140$1,592$1,166$843$603$271
28 years$2,042$1,500$1,084$773$544$236
29 years$1,950$1,415$1,009$709$491$205
30 years$1,865$1,337$940$650$444$178
31 years$1,785$1,264$876$597$401$155
32 years$1,710$1,196$818$549$363$135
33 years$1,640$1,132$763$505$329$118
34 years$1,575$1,073$713$464$298$103
35 years$1,513$1,018$667$428$270$90
36 years$1,455$966$624$394$244$78
37 years$1,400$918$584$363$221$68
38 years$1,348$872$547$334$201$59
39 years$1,299$829$512$308$182$52
40 years$1,252$789$480$284$165$45
41 years$1,208$751$450$262$150$39
42 years$1,166$715$422$242$136$34
43 years$1,126$681$396$224$123$30
44 years$1,088$650$372$206$112$26
45 years$1,052$619$349$191$102$23
46 years$1,018$591$328$176$92$20
47 years$985$564$308$163$84$17
48 years$953$538$290$150$76$15
49 years$923$514$272$139$69$13
50 years$894$491$256$128$63$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $916,000, adding $5,490 every year, while hoping to spend $22,529 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: 57/17/26 Blend
63$916,000$916,000$916,000$916,000
64$1,015,095$966,547$952,349$1,065,466
65$1,094,664$989,937$960,282$1,123,977
66$1,181,594$1,013,718$967,726$1,184,879
67$1,276,612$1,037,886$974,640$1,250,790
68$1,380,518$1,062,434$980,982$1,322,200
69$1,494,194$1,087,357$986,708$1,399,650
70$1,618,611$1,112,646$991,772$1,483,736
71$1,754,836$1,138,292$996,123$1,575,113
72$1,904,046$1,164,286$999,710$1,674,506
73$2,067,538$1,190,615$1,002,479$1,782,711
74$2,246,738$1,217,266$1,004,374$1,900,609
75$2,443,219$1,244,225$1,005,334$2,029,167
76$2,658,711$1,271,476$1,005,296$2,169,453
77$2,895,121$1,299,000$1,004,195$2,322,643
78$3,154,549$1,326,777$1,001,961$2,490,036
79$3,439,309$1,354,785$998,523$2,673,061
80$3,751,948$1,382,999$993,804$2,873,294
81$4,095,275$1,411,394$987,724$3,092,471
82$4,472,381$1,439,940$980,200$3,332,509
83$4,886,672$1,468,606$971,146$3,595,517
84$5,341,902$1,497,356$960,468$3,883,822
85$5,842,203$1,526,155$948,071$4,199,988
86$6,392,132$1,554,960$933,855$4,546,842
87$6,996,705$1,583,728$917,715$4,927,501
88$7,661,450$1,612,413$899,540$5,345,398
89$8,392,459$1,640,961$879,215$5,804,319
90$9,196,440$1,669,320$856,620$6,308,437
91$10,080,789$1,697,428$831,628$6,862,352
92$11,053,650$1,725,222$804,108$7,471,134
93$12,123,998$1,752,634$773,922$8,140,371
94$13,301,722$1,779,590$740,925$8,876,222
95$14,597,719$1,806,010$704,966$9,685,478
96$16,023,992$1,831,811$665,888$10,575,621
97$17,593,770$1,856,900$623,527$11,554,901
98$19,321,629$1,881,182$577,709$12,632,410
99$21,223,627$1,904,553$528,255$13,818,169
100$23,317,463$1,926,902$474,977$15,123,222