Can I retire at age 64 with 941,000?

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 $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%12.4%
1 years$77,707$77,015$76,339$75,680$75,037$74,284
2 years$38,469$37,752$37,058$36,385$35,732$34,974
3 years$25,391$24,672$23,979$23,312$22,670$21,930
4 years$18,854$18,136$17,451$16,795$16,168$15,452
5 years$14,932$14,219$13,542$12,900$12,291$11,600
6 years$12,319$11,611$10,944$10,316$9,725$9,062
7 years$10,453$9,751$9,095$8,482$7,909$7,273
8 years$9,054$8,358$7,713$7,115$6,562$5,952
9 years$7,966$7,277$6,643$6,060$5,526$4,943
10 years$7,097$6,415$5,792$5,224$4,708$4,152
11 years$6,386$5,711$5,099$4,547$4,049$3,519
12 years$5,794$5,125$4,525$3,988$3,509$3,004
13 years$5,293$4,632$4,043$3,521$3,060$2,580
14 years$4,865$4,210$3,633$3,125$2,682$2,226
15 years$4,493$3,846$3,280$2,787$2,362$1,929
16 years$4,169$3,529$2,974$2,496$2,087$1,678
17 years$3,883$3,250$2,706$2,242$1,851$1,463
18 years$3,629$3,003$2,470$2,021$1,646$1,279
19 years$3,402$2,783$2,261$1,826$1,467$1,121
20 years$3,198$2,586$2,075$1,654$1,310$984
21 years$3,014$2,409$1,909$1,501$1,172$865
22 years$2,847$2,249$1,759$1,365$1,051$762
23 years$2,694$2,103$1,624$1,243$943$672
24 years$2,554$1,971$1,502$1,134$848$593
25 years$2,426$1,849$1,391$1,035$763$524
26 years$2,308$1,738$1,290$947$687$463
27 years$2,199$1,636$1,198$866$620$410
28 years$2,097$1,541$1,114$794$559$363
29 years$2,003$1,454$1,037$728$505$321
30 years$1,915$1,373$966$668$456$285
31 years$1,834$1,298$900$614$412$253
32 years$1,757$1,228$840$564$373$224
33 years$1,685$1,163$784$519$338$199
34 years$1,618$1,102$733$477$306$176
35 years$1,554$1,046$685$439$277$157
36 years$1,495$992$641$404$251$139
37 years$1,438$943$600$373$227$124
38 years$1,385$896$562$344$206$110
39 years$1,334$852$526$317$187$97
40 years$1,286$810$493$292$170$87
41 years$1,241$771$463$270$154$77
42 years$1,198$735$434$249$140$68
43 years$1,157$700$407$230$127$61
44 years$1,118$667$382$212$115$54
45 years$1,081$636$359$196$104$48
46 years$1,045$607$337$181$95$43
47 years$1,012$579$317$167$86$38
48 years$979$553$298$154$78$34
49 years$948$528$280$143$71$30
50 years$919$504$263$132$64$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $941,000, adding $5,263 every year, while hoping to spend $41,903 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: 34/37/29 Blend
63$941,000$941,000$941,000$941,000
64$1,042,411$992,538$977,952$1,068,572
65$1,104,152$996,588$966,129$1,092,860
66$1,170,787$999,432$952,506$1,114,935
67$1,242,770$1,000,966$936,977$1,137,938
68$1,320,600$1,001,082$919,434$1,161,980
69$1,404,828$999,662$899,762$1,187,188
70$1,496,058$996,582$877,841$1,213,704
71$1,594,953$991,711$853,545$1,241,688
72$1,702,243$984,911$826,745$1,271,321
73$1,818,732$976,032$797,301$1,302,805
74$1,945,303$964,918$765,071$1,336,368
75$2,082,928$951,402$729,905$1,372,264
76$2,232,676$935,310$691,645$1,410,778
77$2,395,722$916,453$650,129$1,452,230
78$2,573,361$894,635$605,184$1,496,977
79$2,767,018$869,647$556,631$1,545,416
80$2,978,260$841,265$504,285$1,597,995
81$3,208,812$809,257$447,948$1,655,210
82$3,460,574$773,373$387,417$1,717,615
83$3,735,636$733,352$322,479$1,785,827
84$4,036,300$688,915$252,911$1,860,536
85$4,365,100$639,770$178,481$1,942,506
86$4,724,826$585,604$98,946$2,032,591
87$5,118,550$526,091$14,053$2,131,737
88$5,549,656$460,883$0$2,241,000
89$6,021,869$389,614$0$2,385,234
90$6,539,291$311,897$0$2,548,236
91$7,106,440$227,321$0$2,727,186
92$7,728,293$135,456$0$2,923,780
93$8,410,331$35,845$0$3,139,894
94$9,158,590$0$0$3,377,603
95$9,979,718$0$0$3,668,510
96$10,881,041$0$0$4,003,991
97$11,870,626$0$0$4,372,472
98$12,957,359$0$0$4,777,280
99$14,151,031$0$0$5,222,081
100$15,462,427$0$0$5,710,914