Can I retire at age 64 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$77,624$76,933$76,258$75,600$74,957$72,068
2 years$38,428$37,712$37,019$36,346$35,694$32,818
3 years$25,364$24,645$23,953$23,287$22,646$19,873
4 years$18,834$18,117$17,432$16,777$16,151$13,503
5 years$14,916$14,204$13,528$12,886$12,278$9,761
6 years$12,305$11,599$10,933$10,305$9,715$7,331
7 years$10,441$9,740$9,085$8,473$7,901$5,649
8 years$9,044$8,349$7,705$7,108$6,555$4,433
9 years$7,958$7,270$6,636$6,054$5,520$3,525
10 years$7,089$6,408$5,786$5,219$4,703$2,832
11 years$6,379$5,704$5,094$4,542$4,045$2,292
12 years$5,788$5,120$4,520$3,984$3,505$1,867
13 years$5,288$4,627$4,039$3,517$3,057$1,528
14 years$4,859$4,206$3,629$3,122$2,679$1,255
15 years$4,489$3,842$3,276$2,784$2,359$1,034
16 years$4,165$3,525$2,970$2,493$2,085$855
17 years$3,879$3,246$2,703$2,240$1,849$708
18 years$3,625$3,000$2,467$2,019$1,644$587
19 years$3,399$2,780$2,259$1,824$1,465$487
20 years$3,195$2,584$2,073$1,652$1,309$405
21 years$3,011$2,406$1,907$1,499$1,171$337
22 years$2,843$2,246$1,757$1,363$1,050$281
23 years$2,691$2,101$1,623$1,242$942$234
24 years$2,552$1,968$1,501$1,132$847$195
25 years$2,423$1,847$1,390$1,034$762$163
26 years$2,305$1,736$1,289$946$687$136
27 years$2,196$1,634$1,197$865$619$113
28 years$2,095$1,540$1,113$793$559$95
29 years$2,001$1,452$1,036$727$504$79
30 years$1,913$1,372$965$667$456$66
31 years$1,832$1,297$899$613$412$55
32 years$1,755$1,227$839$563$373$46
33 years$1,683$1,162$783$518$337$39
34 years$1,616$1,101$732$477$305$32
35 years$1,553$1,045$684$439$277$27
36 years$1,493$991$640$404$251$23
37 years$1,437$942$599$372$227$19
38 years$1,383$895$561$343$206$16
39 years$1,333$851$526$316$187$13
40 years$1,285$810$493$292$169$11
41 years$1,240$771$462$269$154$9
42 years$1,197$734$433$248$139$8
43 years$1,156$699$407$229$127$6
44 years$1,117$667$382$212$115$5
45 years$1,080$636$358$196$104$4
46 years$1,044$606$337$181$95$4
47 years$1,011$579$316$167$86$3
48 years$978$552$297$154$78$3
49 years$947$528$279$143$71$2
50 years$918$504$263$132$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $940,000, adding $5,126 every year, while hoping to spend $34,337 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: 51/20/29 Blend
63$940,000$940,000$940,000$940,000
64$1,041,167$991,347$976,777$1,085,518
65$1,110,832$1,003,389$972,965$1,129,047
66$1,186,452$1,014,870$967,874$1,172,512
67$1,268,598$1,025,727$961,426$1,219,109
68$1,357,898$1,035,890$953,537$1,269,153
69$1,455,044$1,045,289$944,121$1,322,991
70$1,560,796$1,053,846$933,086$1,381,007
71$1,675,991$1,061,478$920,338$1,443,626
72$1,801,549$1,068,098$905,777$1,511,316
73$1,938,485$1,073,612$889,298$1,584,596
74$2,087,913$1,077,922$870,792$1,664,041
75$2,251,061$1,080,921$850,145$1,750,283
76$2,429,281$1,082,498$827,237$1,844,024
77$2,624,061$1,082,534$801,942$1,946,036
78$2,837,039$1,080,901$774,131$2,057,175
79$3,070,018$1,077,467$743,665$2,178,386
80$3,324,984$1,072,087$710,403$2,310,711
81$3,604,125$1,064,611$674,193$2,455,304
82$3,909,847$1,054,879$634,881$2,613,437
83$4,244,804$1,042,720$592,301$2,786,516
84$4,611,915$1,027,955$546,284$2,976,094
85$5,014,396$1,010,391$496,651$3,183,884
86$5,455,791$989,826$443,215$3,411,780
87$5,940,001$966,047$385,782$3,661,871
88$6,471,323$938,825$324,148$3,936,464
89$7,054,492$907,921$258,100$4,238,105
90$7,694,721$873,080$187,418$4,569,606
91$8,397,754$834,033$111,868$4,934,068
92$9,169,920$790,496$31,210$5,334,917
93$10,018,188$742,166$0$5,775,930
94$10,950,236$688,725$0$6,278,254
95$11,974,525$629,837$0$6,840,925
96$13,100,373$565,146$0$7,459,436
97$14,338,047$494,274$0$8,139,478
98$15,698,860$416,825$0$8,887,324
99$17,195,273$332,379$0$9,709,891
100$18,841,016$240,491$0$10,614,800