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%17.6%
1 years$78,120$77,424$76,745$76,082$75,435$73,108
2 years$38,673$37,953$37,255$36,578$35,922$33,598
3 years$25,526$24,803$24,106$23,436$22,790$20,542
4 years$18,954$18,233$17,543$16,884$16,254$14,099
5 years$15,011$14,295$13,614$12,969$12,356$10,300
6 years$12,384$11,673$11,002$10,371$9,777$7,821
7 years$10,508$9,803$9,143$8,527$7,951$6,096
8 years$9,102$8,403$7,754$7,153$6,596$4,841
9 years$8,008$7,316$6,679$6,093$5,555$3,897
10 years$7,134$6,449$5,822$5,252$4,733$3,170
11 years$6,420$5,741$5,126$4,571$4,071$2,600
12 years$5,825$5,153$4,549$4,009$3,528$2,146
13 years$5,321$4,657$4,064$3,539$3,076$1,780
14 years$4,890$4,233$3,652$3,142$2,697$1,483
15 years$4,517$3,867$3,297$2,802$2,374$1,240
16 years$4,191$3,548$2,989$2,509$2,098$1,039
17 years$3,904$3,267$2,720$2,254$1,861$873
18 years$3,648$3,019$2,483$2,032$1,654$735
19 years$3,420$2,798$2,273$1,836$1,475$620
20 years$3,215$2,600$2,086$1,663$1,317$523
21 years$3,030$2,422$1,919$1,509$1,179$442
22 years$2,862$2,261$1,769$1,372$1,056$374
23 years$2,708$2,114$1,633$1,249$948$317
24 years$2,568$1,981$1,510$1,140$852$268
25 years$2,439$1,859$1,399$1,041$767$227
26 years$2,320$1,747$1,297$952$691$193
27 years$2,210$1,644$1,205$871$623$164
28 years$2,108$1,549$1,120$798$562$139
29 years$2,014$1,462$1,042$732$508$118
30 years$1,926$1,380$971$672$459$100
31 years$1,843$1,305$905$617$415$85
32 years$1,766$1,235$844$567$375$72
33 years$1,694$1,169$788$521$339$61
34 years$1,626$1,108$737$480$307$52
35 years$1,563$1,051$689$442$278$44
36 years$1,502$998$644$407$252$38
37 years$1,446$948$603$375$229$32
38 years$1,392$901$565$345$207$27
39 years$1,341$856$529$318$188$23
40 years$1,293$815$496$294$170$20
41 years$1,248$776$465$271$155$17
42 years$1,204$739$436$250$140$14
43 years$1,163$704$409$231$127$12
44 years$1,124$671$384$213$116$10
45 years$1,087$640$361$197$105$9
46 years$1,051$610$339$182$95$7
47 years$1,017$582$318$168$87$6
48 years$984$556$299$155$79$5
49 years$953$531$281$143$71$5
50 years$924$507$264$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $946,000, adding $2,892 every year, while hoping to spend $49,241 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: 54/30/16 Blend
63$946,000$946,000$946,000$946,000
64$1,045,475$995,337$980,674$1,097,314
65$1,099,722$991,717$961,135$1,129,385
66$1,157,851$986,268$939,290$1,158,774
67$1,220,207$978,851$915,012$1,189,660
68$1,287,167$969,314$888,164$1,222,198
69$1,359,146$957,498$858,605$1,256,561
70$1,436,599$943,235$826,188$1,292,943
71$1,520,025$926,346$790,758$1,331,559
72$1,609,972$906,642$752,153$1,372,650
73$1,707,043$883,922$710,205$1,416,482
74$1,811,900$857,973$664,736$1,463,355
75$1,925,272$828,571$615,562$1,513,599
76$2,047,956$795,478$562,490$1,567,585
77$2,180,833$758,442$505,319$1,625,723
78$2,324,869$717,196$443,838$1,688,470
79$2,481,127$671,460$377,828$1,756,333
80$2,650,776$620,935$307,059$1,829,876
81$2,835,100$565,307$231,291$1,909,726
82$3,035,516$504,242$150,274$1,996,579
83$3,253,577$437,388$63,747$2,091,206
84$3,490,996$364,375$0$2,194,464
85$3,749,658$284,809$0$2,312,186
86$4,031,634$198,275$0$2,452,476
87$4,339,206$104,336$0$2,605,657
88$4,674,885$2,529$0$2,773,080
89$5,041,435$0$0$2,956,235
90$5,441,900$0$0$3,192,302
91$5,879,629$0$0$3,451,334
92$6,358,309$0$0$3,734,691
93$6,882,003$0$0$4,044,786
94$7,455,179$0$0$4,384,280
95$8,082,764$0$0$4,756,100
96$8,770,177$0$0$5,163,471
97$9,523,390$0$0$5,609,945
98$10,348,978$0$0$6,099,434
99$11,254,184$0$0$6,636,244
100$12,246,983$0$0$7,225,121