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%19.7%
1 years$77,707$77,015$76,339$75,680$75,037$72,116
2 years$38,469$37,752$37,058$36,385$35,732$32,825
3 years$25,391$24,672$23,979$23,312$22,670$19,868
4 years$18,854$18,136$17,451$16,795$16,168$13,493
5 years$14,932$14,219$13,542$12,900$12,291$9,748
6 years$12,319$11,611$10,944$10,316$9,725$7,318
7 years$10,453$9,751$9,095$8,482$7,909$5,636
8 years$9,054$8,358$7,713$7,115$6,562$4,420
9 years$7,966$7,277$6,643$6,060$5,526$3,512
10 years$7,097$6,415$5,792$5,224$4,708$2,820
11 years$6,386$5,711$5,099$4,547$4,049$2,281
12 years$5,794$5,125$4,525$3,988$3,509$1,857
13 years$5,293$4,632$4,043$3,521$3,060$1,518
14 years$4,865$4,210$3,633$3,125$2,682$1,247
15 years$4,493$3,846$3,280$2,787$2,362$1,027
16 years$4,169$3,529$2,974$2,496$2,087$848
17 years$3,883$3,250$2,706$2,242$1,851$701
18 years$3,629$3,003$2,470$2,021$1,646$581
19 years$3,402$2,783$2,261$1,826$1,467$482
20 years$3,198$2,586$2,075$1,654$1,310$401
21 years$3,014$2,409$1,909$1,501$1,172$333
22 years$2,847$2,249$1,759$1,365$1,051$277
23 years$2,694$2,103$1,624$1,243$943$231
24 years$2,554$1,971$1,502$1,134$848$192
25 years$2,426$1,849$1,391$1,035$763$160
26 years$2,308$1,738$1,290$947$687$134
27 years$2,199$1,636$1,198$866$620$112
28 years$2,097$1,541$1,114$794$559$93
29 years$2,003$1,454$1,037$728$505$78
30 years$1,915$1,373$966$668$456$65
31 years$1,834$1,298$900$614$412$54
32 years$1,757$1,228$840$564$373$45
33 years$1,685$1,163$784$519$338$38
34 years$1,618$1,102$733$477$306$31
35 years$1,554$1,046$685$439$277$26
36 years$1,495$992$641$404$251$22
37 years$1,438$943$600$373$227$18
38 years$1,385$896$562$344$206$15
39 years$1,334$852$526$317$187$13
40 years$1,286$810$493$292$170$11
41 years$1,241$771$463$270$154$9
42 years$1,198$735$434$249$140$7
43 years$1,157$700$407$230$127$6
44 years$1,118$667$382$212$115$5
45 years$1,081$636$359$196$104$4
46 years$1,045$607$337$181$95$4
47 years$1,012$579$317$167$86$3
48 years$979$553$298$154$78$3
49 years$948$528$280$143$71$2
50 years$919$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 $941,000, adding $6,120 every year, while hoping to spend $53,745 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: 53/28/19 Blend
63$941,000$941,000$941,000$941,000
64$1,043,295$993,422$978,836$1,092,876
65$1,092,527$984,915$954,443$1,119,049
66$1,144,979$974,190$927,431$1,141,364
67$1,200,923$961,082$897,657$1,164,480
68$1,260,657$945,415$864,968$1,188,489
69$1,324,507$927,003$829,207$1,213,498
70$1,392,830$905,650$790,209$1,239,624
71$1,466,019$881,147$747,802$1,267,003
72$1,544,503$853,274$701,803$1,295,784
73$1,628,755$821,797$652,026$1,326,138
74$1,719,292$786,468$598,273$1,358,256
75$1,816,682$747,028$540,338$1,392,354
76$1,921,550$703,199$478,005$1,428,671
77$2,034,581$654,688$411,051$1,467,480
78$2,156,527$601,187$339,240$1,509,082
79$2,288,217$542,368$262,328$1,553,818
80$2,430,557$477,887$180,059$1,602,065
81$2,584,549$407,378$92,165$1,654,249
82$2,751,288$330,455$0$1,710,842
83$2,931,983$246,711$0$1,772,704
84$3,127,962$155,716$0$1,860,055
85$3,340,682$57,015$0$1,954,910
86$3,571,751$0$0$2,058,063
87$3,822,934$0$0$2,185,765
88$4,096,174$0$0$2,343,871
89$4,393,608$0$0$2,516,062
90$4,717,589$0$0$2,703,709
91$5,070,704$0$0$2,908,323
92$5,455,803$0$0$3,131,565
93$5,876,020$0$0$3,375,266
94$6,334,807$0$0$3,641,440
95$6,835,962$0$0$3,932,303
96$7,383,668$0$0$4,250,296
97$7,982,529$0$0$4,598,107
98$8,637,613$0$0$4,978,694
99$9,354,504$0$0$5,395,316
100$10,139,346$0$0$5,851,561