Can I retire at age 64 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$77,459$76,769$76,096$75,439$74,797$72,000
2 years$38,346$37,632$36,940$36,269$35,618$32,832
3 years$25,310$24,593$23,903$23,238$22,597$19,910
4 years$18,793$18,078$17,395$16,741$16,117$13,549
5 years$14,884$14,174$13,499$12,859$12,252$9,810
6 years$12,279$11,574$10,909$10,283$9,694$7,380
7 years$10,419$9,720$9,066$8,455$7,884$5,697
8 years$9,025$8,332$7,688$7,092$6,541$4,478
9 years$7,941$7,254$6,622$6,041$5,508$3,568
10 years$7,074$6,394$5,773$5,208$4,693$2,871
11 years$6,365$5,692$5,083$4,532$4,036$2,329
12 years$5,775$5,109$4,511$3,975$3,498$1,901
13 years$5,276$4,617$4,030$3,510$3,050$1,559
14 years$4,849$4,197$3,621$3,115$2,674$1,283
15 years$4,479$3,834$3,269$2,778$2,354$1,060
16 years$4,156$3,518$2,964$2,488$2,081$877
17 years$3,871$3,240$2,697$2,235$1,845$728
18 years$3,618$2,993$2,462$2,014$1,640$605
19 years$3,391$2,774$2,254$1,820$1,462$504
20 years$3,188$2,578$2,069$1,649$1,306$420
21 years$3,004$2,401$1,903$1,496$1,169$350
22 years$2,837$2,242$1,754$1,360$1,048$292
23 years$2,685$2,096$1,619$1,239$940$244
24 years$2,546$1,964$1,497$1,130$845$204
25 years$2,418$1,843$1,387$1,032$761$171
26 years$2,300$1,732$1,286$944$685$143
27 years$2,192$1,630$1,194$864$618$119
28 years$2,091$1,536$1,110$791$557$100
29 years$1,997$1,449$1,033$726$503$84
30 years$1,909$1,369$963$666$455$70
31 years$1,828$1,294$897$612$411$59
32 years$1,751$1,224$837$562$372$49
33 years$1,680$1,159$782$517$337$41
34 years$1,613$1,099$730$476$305$35
35 years$1,549$1,042$683$438$276$29
36 years$1,490$989$639$403$250$24
37 years$1,434$940$598$371$227$20
38 years$1,380$893$560$342$205$17
39 years$1,330$849$525$316$186$14
40 years$1,282$808$492$291$169$12
41 years$1,237$769$461$269$153$10
42 years$1,194$732$432$248$139$8
43 years$1,153$698$406$229$126$7
44 years$1,114$665$381$211$115$6
45 years$1,077$634$358$195$104$5
46 years$1,042$605$336$180$94$4
47 years$1,008$577$316$167$86$3
48 years$976$551$297$154$78$3
49 years$945$526$279$142$71$2
50 years$916$503$262$131$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $938,000, adding $2,168 every year, while hoping to spend $24,711 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: 57/23/20 Blend
63$938,000$938,000$938,000$938,000
64$1,035,912$986,198$971,659$1,089,310
65$1,115,283$1,008,230$977,918$1,147,946
66$1,201,921$1,030,512$983,557$1,208,972
67$1,296,543$1,053,033$988,532$1,274,934
68$1,399,934$1,075,775$992,791$1,346,313
69$1,512,962$1,098,723$996,285$1,423,639
70$1,636,582$1,121,858$998,958$1,507,495
71$1,771,843$1,145,159$1,000,753$1,598,524
72$1,919,904$1,168,605$1,001,611$1,697,437
73$2,082,038$1,192,170$1,001,469$1,805,014
74$2,259,648$1,215,829$1,000,260$1,922,118
75$2,454,279$1,239,552$997,916$2,049,696
76$2,667,634$1,263,308$994,365$2,188,796
77$2,901,586$1,287,063$989,529$2,340,571
78$3,158,199$1,310,781$983,330$2,506,292
79$3,439,747$1,334,421$975,683$2,687,361
80$3,748,735$1,357,941$966,502$2,885,323
81$4,087,920$1,381,295$955,694$3,101,880
82$4,460,342$1,404,432$943,164$3,338,909
83$4,869,349$1,427,301$928,811$3,598,480
84$5,318,626$1,449,842$912,530$3,882,872
85$5,812,236$1,471,995$894,211$4,194,601
86$6,354,655$1,493,694$873,738$4,536,436
87$6,950,812$1,514,867$850,990$4,911,434
88$7,606,139$1,535,439$825,842$5,322,961
89$8,326,618$1,555,329$798,161$5,774,729
90$9,118,844$1,574,450$767,810$6,270,829
91$9,990,077$1,592,710$734,643$6,815,773
92$10,948,322$1,610,009$698,510$7,414,531
93$12,002,394$1,626,243$659,254$8,072,584
94$13,162,008$1,641,299$616,708$8,795,972
95$14,437,867$1,655,056$570,702$9,591,355
96$15,841,763$1,667,388$521,054$10,466,071
97$17,386,690$1,678,157$467,577$11,428,212
98$19,086,966$1,687,220$410,074$12,486,694
99$20,958,365$1,694,423$348,340$13,651,347
100$23,018,270$1,699,601$282,161$14,933,006