Can I retire at age 64 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$77,789$77,097$76,421$75,761$75,116$73,842
2 years$38,510$37,792$37,097$36,423$35,770$34,489
3 years$25,418$24,698$24,004$23,337$22,694$21,448
4 years$18,874$18,155$17,469$16,813$16,185$14,983
5 years$14,948$14,234$13,557$12,914$12,304$11,149
6 years$12,332$11,623$10,956$10,327$9,736$8,629
7 years$10,464$9,761$9,104$8,491$7,918$6,860
8 years$9,063$8,367$7,721$7,123$6,568$5,560
9 years$7,975$7,285$6,650$6,067$5,532$4,571
10 years$7,104$6,421$5,798$5,230$4,713$3,800
11 years$6,393$5,717$5,104$4,551$4,054$3,187
12 years$5,800$5,131$4,530$3,992$3,513$2,691
13 years$5,299$4,637$4,047$3,525$3,063$2,286
14 years$4,870$4,215$3,636$3,129$2,685$1,950
15 years$4,498$3,850$3,283$2,790$2,364$1,671
16 years$4,173$3,533$2,977$2,498$2,089$1,436
17 years$3,887$3,253$2,709$2,245$1,853$1,237
18 years$3,633$3,006$2,473$2,023$1,647$1,069
19 years$3,406$2,786$2,264$1,828$1,468$925
20 years$3,202$2,589$2,077$1,656$1,312$802
21 years$3,017$2,412$1,911$1,503$1,174$696
22 years$2,850$2,251$1,761$1,366$1,052$605
23 years$2,697$2,105$1,626$1,244$944$526
24 years$2,557$1,973$1,504$1,135$849$459
25 years$2,429$1,851$1,393$1,036$764$400
26 years$2,310$1,740$1,292$948$688$349
27 years$2,201$1,637$1,200$867$620$304
28 years$2,100$1,543$1,115$795$560$266
29 years$2,005$1,456$1,038$729$505$232
30 years$1,918$1,375$967$669$457$203
31 years$1,836$1,299$901$614$413$177
32 years$1,759$1,230$841$564$373$155
33 years$1,687$1,164$785$519$338$136
34 years$1,619$1,104$734$478$306$119
35 years$1,556$1,047$686$440$277$104
36 years$1,496$994$642$405$251$91
37 years$1,440$944$600$373$228$80
38 years$1,386$897$562$344$206$70
39 years$1,336$853$527$317$187$61
40 years$1,288$811$494$292$170$53
41 years$1,242$772$463$270$154$47
42 years$1,199$736$434$249$140$41
43 years$1,158$701$408$230$127$36
44 years$1,119$668$383$212$115$31
45 years$1,082$637$359$196$104$28
46 years$1,047$608$337$181$95$24
47 years$1,013$580$317$167$86$21
48 years$980$554$298$155$78$19
49 years$949$529$280$143$71$16
50 years$920$505$263$132$65$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $942,000, adding $3,419 every year, while hoping to spend $54,863 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: 75/15/10 Blend
63$942,000$942,000$942,000$942,000
64$1,041,611$991,685$977,084$1,117,607
65$1,089,481$981,903$951,442$1,158,380
66$1,140,396$969,804$923,103$1,195,789
67$1,194,607$955,215$891,918$1,235,241
68$1,252,391$937,955$857,731$1,276,921
69$1,314,051$917,831$820,381$1,321,033
70$1,379,919$894,639$779,699$1,367,800
71$1,450,358$868,164$735,506$1,417,472
72$1,525,767$838,177$687,618$1,470,323
73$1,606,583$804,435$635,841$1,526,657
74$1,693,286$766,684$579,973$1,586,808
75$1,786,401$724,652$519,803$1,651,147
76$1,886,507$678,053$455,109$1,720,085
77$1,994,238$626,584$385,662$1,794,074
78$2,110,289$569,926$311,221$1,873,614
79$2,235,426$507,739$231,533$1,959,259
80$2,370,488$439,667$146,338$2,051,619
81$2,516,398$365,331$55,361$2,151,370
82$2,674,171$284,333$0$2,259,258
83$2,844,921$196,250$0$2,380,560
84$3,029,875$100,638$0$2,518,327
85$3,230,379$0$0$2,667,687
86$3,447,915$0$0$2,830,276
87$3,684,113$0$0$3,024,882
88$3,940,766$0$0$3,236,374
89$4,219,844$0$0$3,466,382
90$4,523,518$0$0$3,716,696
91$4,854,174$0$0$3,989,291
92$5,214,438$0$0$4,286,335
93$5,607,202$0$0$4,610,217
94$6,035,645$0$0$4,963,565
95$6,503,269$0$0$5,349,272
96$7,013,929$0$0$5,770,523
97$7,571,867$0$0$6,230,825
98$8,181,754$0$0$6,734,035
99$8,848,732$0$0$7,284,405
100$9,578,464$0$0$7,886,613