Can I retire at age 64 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$78,037$77,342$76,664$76,002$75,356$73,208
2 years$38,632$37,913$37,215$36,539$35,884$33,736
3 years$25,499$24,776$24,081$23,411$22,766$20,687
4 years$18,934$18,213$17,525$16,866$16,237$14,241
5 years$14,996$14,279$13,600$12,955$12,343$10,437
6 years$12,371$11,660$10,991$10,360$9,767$7,951
7 years$10,497$9,792$9,133$8,518$7,943$6,219
8 years$9,092$8,394$7,746$7,145$6,589$4,955
9 years$8,000$7,308$6,671$6,086$5,549$4,004
10 years$7,127$6,442$5,816$5,246$4,728$3,269
11 years$6,413$5,735$5,121$4,566$4,066$2,691
12 years$5,818$5,147$4,544$4,005$3,524$2,230
13 years$5,316$4,652$4,060$3,536$3,073$1,858
14 years$4,885$4,228$3,648$3,139$2,694$1,554
15 years$4,513$3,863$3,294$2,799$2,372$1,305
16 years$4,187$3,544$2,986$2,506$2,096$1,098
17 years$3,900$3,264$2,717$2,252$1,859$927
18 years$3,645$3,016$2,481$2,029$1,653$784
19 years$3,417$2,795$2,271$1,834$1,473$664
20 years$3,212$2,597$2,084$1,661$1,316$563
21 years$3,027$2,419$1,917$1,507$1,177$478
22 years$2,859$2,258$1,767$1,370$1,055$406
23 years$2,705$2,112$1,631$1,248$947$346
24 years$2,565$1,979$1,509$1,138$852$294
25 years$2,436$1,857$1,397$1,040$766$251
26 years$2,318$1,745$1,296$951$690$214
27 years$2,208$1,643$1,203$870$622$182
28 years$2,106$1,548$1,119$797$561$155
29 years$2,012$1,460$1,041$731$507$132
30 years$1,924$1,379$970$671$458$113
31 years$1,841$1,304$904$616$414$97
32 years$1,764$1,233$843$566$375$82
33 years$1,692$1,168$788$521$339$70
34 years$1,625$1,107$736$479$307$60
35 years$1,561$1,050$688$441$278$51
36 years$1,501$997$644$406$252$44
37 years$1,444$947$602$374$228$37
38 years$1,391$900$564$345$207$32
39 years$1,340$855$529$318$188$27
40 years$1,292$814$495$293$170$23
41 years$1,246$775$464$271$154$20
42 years$1,203$738$436$250$140$17
43 years$1,162$703$409$231$127$15
44 years$1,123$670$384$213$115$12
45 years$1,085$639$360$197$105$11
46 years$1,050$610$338$182$95$9
47 years$1,016$582$318$168$86$8
48 years$983$555$299$155$78$7
49 years$952$530$281$143$71$6
50 years$923$507$264$132$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $945,000, adding $2,537 every year, while hoping to spend $46,147 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: 42/47/11 Blend
63$945,000$945,000$945,000$945,000
64$1,044,007$993,922$979,274$1,084,388
65$1,101,396$993,524$962,980$1,112,499
66$1,163,091$991,560$944,593$1,138,103
67$1,229,484$987,904$923,995$1,164,799
68$1,301,004$982,424$901,061$1,192,707
69$1,378,121$974,978$875,662$1,221,959
70$1,461,354$965,415$847,660$1,252,706
71$1,551,270$953,579$816,915$1,285,117
72$1,648,494$939,299$783,276$1,319,381
73$1,753,714$922,398$746,589$1,355,711
74$1,867,683$902,686$706,691$1,394,345
75$1,991,233$879,964$663,411$1,435,548
76$2,125,276$854,020$616,573$1,479,619
77$2,270,816$824,628$565,990$1,526,891
78$2,428,958$791,553$511,468$1,577,735
79$2,600,914$754,542$452,806$1,632,568
80$2,788,023$713,330$389,790$1,691,853
81$2,991,754$667,636$322,201$1,756,107
82$3,213,726$617,163$249,807$1,825,906
83$3,455,718$561,596$172,367$1,901,892
84$3,719,690$500,603$89,631$1,984,779
85$4,007,799$433,833$1,334$2,075,364
86$4,322,419$360,916$0$2,174,532
87$4,666,165$281,459$0$2,294,169
88$5,041,912$195,049$0$2,425,342
89$5,452,829$101,249$0$2,569,145
90$5,902,404$0$0$2,726,965
91$6,394,477$0$0$2,900,547
92$6,933,278$0$0$3,148,065
93$7,523,463$0$0$3,419,307
94$8,170,161$0$0$3,716,645
95$8,879,020$0$0$4,042,691
96$9,656,262$0$0$4,400,323
97$10,508,737$0$0$4,792,709
98$11,443,991$0$0$5,223,341
99$12,470,338$0$0$5,696,064
100$13,596,932$0$0$6,215,112