Can I retire at age 64 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$77,955$77,260$76,583$75,922$75,276$73,367
2 years$38,591$37,873$37,176$36,501$35,846$33,935
3 years$25,472$24,750$24,055$23,386$22,742$20,889
4 years$18,914$18,194$17,506$16,849$16,220$14,439
5 years$14,980$14,264$13,586$12,941$12,330$10,626
6 years$12,358$11,648$10,979$10,349$9,756$8,131
7 years$10,486$9,782$9,124$8,509$7,934$6,388
8 years$9,082$8,385$7,738$7,138$6,582$5,114
9 years$7,992$7,301$6,664$6,080$5,543$4,152
10 years$7,119$6,435$5,810$5,241$4,723$3,407
11 years$6,406$5,729$5,115$4,561$4,062$2,820
12 years$5,812$5,142$4,540$4,001$3,520$2,349
13 years$5,310$4,647$4,056$3,532$3,070$1,967
14 years$4,880$4,224$3,644$3,135$2,691$1,655
15 years$4,508$3,858$3,290$2,796$2,369$1,397
16 years$4,182$3,540$2,983$2,504$2,094$1,183
17 years$3,895$3,260$2,714$2,250$1,857$1,004
18 years$3,641$3,013$2,478$2,027$1,651$854
19 years$3,413$2,792$2,268$1,832$1,471$728
20 years$3,208$2,595$2,082$1,659$1,314$621
21 years$3,023$2,417$1,915$1,506$1,176$530
22 years$2,856$2,256$1,765$1,369$1,054$454
23 years$2,703$2,110$1,630$1,247$946$388
24 years$2,562$1,977$1,507$1,137$851$333
25 years$2,434$1,855$1,396$1,039$765$285
26 years$2,315$1,744$1,295$950$689$245
27 years$2,206$1,641$1,202$869$622$210
28 years$2,104$1,546$1,118$796$561$180
29 years$2,010$1,459$1,040$730$506$155
30 years$1,922$1,378$969$670$458$133
31 years$1,839$1,302$903$616$414$114
32 years$1,763$1,232$843$566$374$98
33 years$1,691$1,167$787$520$339$84
34 years$1,623$1,106$735$479$307$73
35 years$1,559$1,049$687$441$278$62
36 years$1,499$996$643$406$252$54
37 years$1,443$946$602$374$228$46
38 years$1,389$899$564$345$207$40
39 years$1,339$855$528$318$188$34
40 years$1,291$813$495$293$170$29
41 years$1,245$774$464$270$154$25
42 years$1,202$737$435$250$140$22
43 years$1,161$702$408$230$127$19
44 years$1,122$669$383$213$115$16
45 years$1,084$638$360$196$105$14
46 years$1,049$609$338$181$95$12
47 years$1,015$581$318$168$86$10
48 years$982$555$298$155$78$9
49 years$951$530$281$143$71$8
50 years$922$506$264$132$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $944,000, adding $5,858 every year, while hoping to spend $37,522 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: 79/6/15 Blend
63$944,000$944,000$944,000$944,000
64$1,046,331$996,299$981,667$1,125,269
65$1,113,133$1,005,194$974,629$1,186,965
66$1,185,492$1,013,268$966,099$1,249,256
67$1,263,934$1,020,440$955,985$1,316,545
68$1,349,040$1,026,626$944,195$1,389,316
69$1,441,446$1,031,734$930,629$1,468,104
70$1,541,853$1,035,669$915,185$1,553,496
71$1,651,034$1,038,329$897,756$1,646,142
72$1,769,836$1,039,604$878,227$1,746,756
73$1,899,194$1,039,379$856,482$1,856,125
74$2,040,134$1,037,531$832,397$1,975,118
75$2,193,788$1,033,930$805,843$2,104,690
76$2,361,400$1,028,438$776,684$2,245,895
77$2,544,339$1,020,908$744,779$2,399,895
78$2,744,114$1,011,184$709,981$2,567,969
79$2,962,383$999,102$672,135$2,751,530
80$3,200,974$984,487$631,080$2,952,130
81$3,461,900$967,152$586,647$3,171,484
82$3,747,374$946,903$538,660$3,411,482
83$4,059,836$923,531$486,935$3,674,204
84$4,401,971$896,816$431,279$3,961,945
85$4,776,737$866,525$371,492$4,277,234
86$5,187,390$832,411$307,363$4,622,860
87$5,637,519$794,214$238,675$5,001,893
88$6,131,072$751,657$165,197$5,417,722
89$6,672,401$704,448$86,691$5,874,078
90$7,266,299$652,279$2,908$6,375,076
91$7,918,044$594,822$0$6,925,250
92$8,633,450$531,734$0$7,543,444
93$9,418,921$462,649$0$8,222,719
94$10,281,515$387,182$0$8,968,726
95$11,229,001$304,926$0$9,788,206
96$12,269,942$215,450$0$10,688,585
97$13,413,770$118,301$0$11,678,046
98$14,670,876$12,999$0$12,765,604
99$16,052,707$0$0$13,961,193
100$17,571,875$0$0$15,282,424