Can I retire at age 64 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$78,120$77,424$76,745$76,082$75,435$73,552
2 years$38,673$37,953$37,255$36,578$35,922$34,036
3 years$25,526$24,803$24,106$23,436$22,790$20,961
4 years$18,954$18,233$17,543$16,884$16,254$14,496
5 years$15,011$14,295$13,614$12,969$12,356$10,674
6 years$12,384$11,673$11,002$10,371$9,777$8,172
7 years$10,508$9,803$9,143$8,527$7,951$6,424
8 years$9,102$8,403$7,754$7,153$6,596$5,146
9 years$8,008$7,316$6,679$6,093$5,555$4,181
10 years$7,134$6,449$5,822$5,252$4,733$3,433
11 years$6,420$5,741$5,126$4,571$4,071$2,843
12 years$5,825$5,153$4,549$4,009$3,528$2,369
13 years$5,321$4,657$4,064$3,539$3,076$1,986
14 years$4,890$4,233$3,652$3,142$2,697$1,672
15 years$4,517$3,867$3,297$2,802$2,374$1,412
16 years$4,191$3,548$2,989$2,509$2,098$1,196
17 years$3,904$3,267$2,720$2,254$1,861$1,016
18 years$3,648$3,019$2,483$2,032$1,654$865
19 years$3,420$2,798$2,273$1,836$1,475$738
20 years$3,215$2,600$2,086$1,663$1,317$630
21 years$3,030$2,422$1,919$1,509$1,179$539
22 years$2,862$2,261$1,769$1,372$1,056$461
23 years$2,708$2,114$1,633$1,249$948$395
24 years$2,568$1,981$1,510$1,140$852$339
25 years$2,439$1,859$1,399$1,041$767$290
26 years$2,320$1,747$1,297$952$691$249
27 years$2,210$1,644$1,205$871$623$214
28 years$2,108$1,549$1,120$798$562$184
29 years$2,014$1,462$1,042$732$508$158
30 years$1,926$1,380$971$672$459$136
31 years$1,843$1,305$905$617$415$117
32 years$1,766$1,235$844$567$375$101
33 years$1,694$1,169$788$521$339$87
34 years$1,626$1,108$737$480$307$74
35 years$1,563$1,051$689$442$278$64
36 years$1,502$998$644$407$252$55
37 years$1,446$948$603$375$229$47
38 years$1,392$901$565$345$207$41
39 years$1,341$856$529$318$188$35
40 years$1,293$815$496$294$170$30
41 years$1,248$776$465$271$155$26
42 years$1,204$739$436$250$140$22
43 years$1,163$704$409$231$127$19
44 years$1,124$671$384$213$116$17
45 years$1,087$640$361$197$105$14
46 years$1,051$610$339$182$95$12
47 years$1,017$582$318$168$87$11
48 years$984$556$299$155$79$9
49 years$953$531$281$143$71$8
50 years$924$507$264$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $946,000, adding $3,493 every year, while hoping to spend $56,443 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: 53/29/18 Blend
63$946,000$946,000$946,000$946,000
64$1,046,095$995,957$981,294$1,096,245
65$1,092,742$984,704$954,112$1,119,739
66$1,142,255$971,008$924,129$1,139,054
67$1,194,867$954,689$891,189$1,158,835
68$1,250,833$935,558$855,133$1,179,145
69$1,310,431$913,414$815,793$1,200,053
70$1,373,966$888,042$772,994$1,221,640
71$1,441,773$859,219$726,551$1,244,000
72$1,514,217$826,705$676,275$1,267,237
73$1,591,701$790,246$621,963$1,291,472
74$1,674,663$749,577$563,408$1,316,842
75$1,763,587$704,415$500,390$1,343,503
76$1,859,002$654,460$432,682$1,371,630
77$1,961,487$599,396$360,044$1,401,422
78$2,071,682$538,889$282,229$1,433,103
79$2,190,286$472,587$198,975$1,466,927
80$2,318,066$400,115$110,012$1,503,180
81$2,455,868$321,080$15,057$1,542,180
82$2,604,619$235,065$0$1,584,290
83$2,765,337$141,630$0$1,646,482
84$2,939,143$40,311$0$1,716,803
85$3,127,266$0$0$1,792,927
86$3,331,061$0$0$1,897,628
87$3,552,014$0$0$2,025,169
88$3,791,761$0$0$2,163,639
89$4,052,102$0$0$2,314,089
90$4,335,016$0$0$2,477,671
91$4,642,680$0$0$2,655,656
92$4,977,488$0$0$2,849,442
93$5,342,076$0$0$3,060,566
94$5,739,344$0$0$3,290,719
95$6,172,483$0$0$3,541,764
96$6,645,006$0$0$3,815,750
97$7,160,779$0$0$4,114,934
98$7,724,056$0$0$4,441,800
99$8,339,524$0$0$4,799,080
100$9,012,339$0$0$5,189,786