Can I retire at age 64 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$77,707$77,015$76,339$75,680$75,037$74,689
2 years$38,469$37,752$37,058$36,385$35,732$35,381
3 years$25,391$24,672$23,979$23,312$22,670$22,326
4 years$18,854$18,136$17,451$16,795$16,168$15,835
5 years$14,932$14,219$13,542$12,900$12,291$11,969
6 years$12,319$11,611$10,944$10,316$9,725$9,415
7 years$10,453$9,751$9,095$8,482$7,909$7,611
8 years$9,054$8,358$7,713$7,115$6,562$6,275
9 years$7,966$7,277$6,643$6,060$5,526$5,251
10 years$7,097$6,415$5,792$5,224$4,708$4,445
11 years$6,386$5,711$5,099$4,547$4,049$3,798
12 years$5,794$5,125$4,525$3,988$3,509$3,269
13 years$5,293$4,632$4,043$3,521$3,060$2,830
14 years$4,865$4,210$3,633$3,125$2,682$2,464
15 years$4,493$3,846$3,280$2,787$2,362$2,154
16 years$4,169$3,529$2,974$2,496$2,087$1,889
17 years$3,883$3,250$2,706$2,242$1,851$1,663
18 years$3,629$3,003$2,470$2,021$1,646$1,467
19 years$3,402$2,783$2,261$1,826$1,467$1,298
20 years$3,198$2,586$2,075$1,654$1,310$1,150
21 years$3,014$2,409$1,909$1,501$1,172$1,021
22 years$2,847$2,249$1,759$1,365$1,051$908
23 years$2,694$2,103$1,624$1,243$943$808
24 years$2,554$1,971$1,502$1,134$848$721
25 years$2,426$1,849$1,391$1,035$763$643
26 years$2,308$1,738$1,290$947$687$574
27 years$2,199$1,636$1,198$866$620$513
28 years$2,097$1,541$1,114$794$559$459
29 years$2,003$1,454$1,037$728$505$411
30 years$1,915$1,373$966$668$456$368
31 years$1,834$1,298$900$614$412$330
32 years$1,757$1,228$840$564$373$296
33 years$1,685$1,163$784$519$338$265
34 years$1,618$1,102$733$477$306$238
35 years$1,554$1,046$685$439$277$214
36 years$1,495$992$641$404$251$192
37 years$1,438$943$600$373$227$172
38 years$1,385$896$562$344$206$155
39 years$1,334$852$526$317$187$139
40 years$1,286$810$493$292$170$125
41 years$1,241$771$463$270$154$112
42 years$1,198$735$434$249$140$101
43 years$1,157$700$407$230$127$91
44 years$1,118$667$382$212$115$82
45 years$1,081$636$359$196$104$73
46 years$1,045$607$337$181$95$66
47 years$1,012$579$317$167$86$59
48 years$979$553$298$154$78$53
49 years$948$528$280$143$71$48
50 years$919$504$263$132$64$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $941,000, adding $4,912 every year, while hoping to spend $42,691 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: 61/30/9 Blend
63$941,000$941,000$941,000$941,000
64$1,042,049$992,176$977,590$1,103,249
65$1,102,915$995,369$964,917$1,148,027
66$1,168,558$997,289$950,388$1,191,521
67$1,239,422$997,826$933,896$1,237,910
68$1,315,991$996,868$915,330$1,287,474
69$1,398,800$994,292$894,571$1,340,524
70$1,488,435$989,970$871,497$1,397,402
71$1,585,542$983,766$845,979$1,458,487
72$1,690,831$975,534$817,883$1,524,198
73$1,805,082$965,121$787,068$1,594,998
74$1,929,152$952,364$753,387$1,671,400
75$2,063,986$937,090$716,686$1,753,969
76$2,210,623$919,117$676,804$1,843,331
77$2,370,203$898,251$633,574$1,940,177
78$2,543,985$874,286$586,820$2,045,272
79$2,733,351$847,006$536,358$2,159,460
80$2,939,823$816,180$481,997$2,283,675
81$3,165,078$781,565$423,536$2,418,946
82$3,410,958$742,905$360,767$2,566,415
83$3,679,494$699,925$293,471$2,727,339
84$3,972,920$652,339$221,420$2,903,108
85$4,293,696$599,842$144,376$3,095,259
86$4,644,531$542,112$62,090$3,305,489
87$5,028,407$478,809$0$3,535,670
88$5,448,607$409,573$0$3,790,343
89$5,908,748$334,025$0$4,075,846
90$6,412,811$251,763$0$4,388,760
91$6,965,182$162,364$0$4,731,899
92$7,570,689$65,379$0$5,108,371
93$8,234,653$0$0$5,521,601
94$8,962,932$0$0$5,988,463
95$9,761,978$0$0$6,524,445
96$10,638,898$0$0$7,112,739
97$11,601,522$0$0$7,758,608
98$12,658,474$0$0$8,467,847
99$13,819,253$0$0$9,246,840
100$15,094,324$0$0$10,102,623