Can I retire at age 64 with 923,000?

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 $923,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$76,220$75,542$74,879$74,233$73,601$72,802
2 years$37,733$37,030$36,349$35,689$35,048$34,244
3 years$24,905$24,200$23,520$22,866$22,236$21,451
4 years$18,493$17,789$17,117$16,474$15,859$15,100
5 years$14,646$13,947$13,283$12,653$12,056$11,324
6 years$12,083$11,389$10,735$10,119$9,539$8,836
7 years$10,253$9,564$8,921$8,319$7,758$7,084
8 years$8,880$8,198$7,565$6,979$6,436$5,791
9 years$7,814$7,138$6,516$5,945$5,420$4,803
10 years$6,961$6,292$5,681$5,124$4,618$4,030
11 years$6,264$5,601$5,001$4,460$3,972$3,411
12 years$5,683$5,027$4,439$3,912$3,442$2,908
13 years$5,192$4,543$3,966$3,453$3,001$2,494
14 years$4,772$4,130$3,563$3,066$2,631$2,150
15 years$4,407$3,773$3,217$2,734$2,317$1,861
16 years$4,089$3,461$2,917$2,448$2,047$1,616
17 years$3,809$3,188$2,654$2,199$1,815$1,407
18 years$3,560$2,946$2,423$1,982$1,614$1,229
19 years$3,337$2,730$2,218$1,791$1,439$1,075
20 years$3,137$2,537$2,036$1,622$1,285$942
21 years$2,956$2,363$1,872$1,472$1,150$827
22 years$2,792$2,206$1,726$1,339$1,031$727
23 years$2,642$2,063$1,593$1,219$925$640
24 years$2,505$1,933$1,474$1,112$832$564
25 years$2,380$1,814$1,365$1,015$748$498
26 years$2,264$1,705$1,266$928$674$439
27 years$2,157$1,604$1,175$850$608$388
28 years$2,057$1,512$1,093$779$548$343
29 years$1,965$1,426$1,017$714$495$303
30 years$1,879$1,347$947$655$447$268
31 years$1,799$1,273$883$602$405$238
32 years$1,723$1,205$824$553$366$210
33 years$1,653$1,141$769$509$331$186
34 years$1,587$1,081$719$468$300$165
35 years$1,525$1,026$672$431$272$146
36 years$1,466$973$629$397$246$130
37 years$1,411$925$588$366$223$115
38 years$1,358$879$551$337$202$102
39 years$1,309$836$516$311$183$91
40 years$1,262$795$484$287$166$80
41 years$1,217$757$454$264$151$71
42 years$1,175$721$426$244$137$63
43 years$1,135$687$399$225$124$56
44 years$1,097$655$375$208$113$50
45 years$1,060$624$352$192$102$44
46 years$1,025$595$331$177$93$39
47 years$992$568$311$164$84$35
48 years$961$542$292$151$77$31
49 years$930$518$274$140$70$27
50 years$901$495$258$129$63$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $923,000, adding $6,568 every year, while hoping to spend $50,050 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: 32/49/19 Blend
63$923,000$923,000$923,000$923,000
64$1,023,921$975,002$960,695$1,050,456
65$1,075,108$969,524$939,626$1,065,337
66$1,129,839$962,101$916,173$1,076,321
67$1,188,422$952,583$890,204$1,087,098
68$1,251,195$940,814$861,581$1,097,677
69$1,318,531$926,628$830,157$1,108,075
70$1,390,836$909,847$795,782$1,118,317
71$1,468,557$890,285$758,297$1,128,432
72$1,552,184$867,744$717,535$1,138,460
73$1,642,258$842,015$673,323$1,148,448
74$1,739,370$812,875$625,480$1,158,456
75$1,844,169$780,089$573,818$1,168,555
76$1,957,370$743,410$518,137$1,178,831
77$2,079,759$702,573$458,231$1,189,385
78$2,212,197$657,302$393,885$1,200,336
79$2,355,634$607,302$324,872$1,211,824
80$2,511,111$552,263$250,958$1,224,010
81$2,679,776$491,856$171,897$1,237,082
82$2,862,890$425,733$87,432$1,251,255
83$3,061,839$353,529$0$1,266,778
84$3,278,150$274,855$0$1,284,484
85$3,513,500$189,302$0$1,323,099
86$3,769,737$96,437$0$1,365,309
87$4,048,893$0$0$1,411,596
88$4,353,204$0$0$1,464,761
89$4,685,131$0$0$1,579,596
90$5,047,383$0$0$1,705,055
91$5,442,943$0$0$1,842,187
92$5,875,093$0$0$1,992,148
93$6,347,447$0$0$2,156,210
94$6,863,984$0$0$2,335,774
95$7,429,083$0$0$2,532,381
96$8,047,570$0$0$2,747,731
97$8,724,754$0$0$2,983,693
98$9,466,487$0$0$3,242,328
99$10,279,207$0$0$3,525,904
100$11,170,010$0$0$3,836,919