Can I retire at age 64 with 947,000?

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 $947,000?

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 years$78,202$77,506$76,826$76,163$75,515$73,660
2 years$38,714$37,993$37,294$36,617$35,960$34,102
3 years$25,553$24,829$24,132$23,461$22,814$21,012
4 years$18,974$18,252$17,562$16,902$16,271$14,539
5 years$15,027$14,310$13,629$12,982$12,369$10,711
6 years$12,397$11,685$11,014$10,382$9,787$8,205
7 years$10,519$9,813$9,153$8,536$7,960$6,454
8 years$9,111$8,412$7,762$7,160$6,603$5,173
9 years$8,017$7,324$6,686$6,099$5,561$4,205
10 years$7,142$6,456$5,829$5,257$4,738$3,455
11 years$6,427$5,747$5,131$4,576$4,075$2,862
12 years$5,831$5,158$4,554$4,013$3,531$2,388
13 years$5,327$4,661$4,069$3,543$3,079$2,002
14 years$4,896$4,237$3,656$3,145$2,699$1,687
15 years$4,522$3,871$3,301$2,805$2,377$1,426
16 years$4,196$3,551$2,993$2,512$2,101$1,209
17 years$3,908$3,271$2,723$2,257$1,863$1,028
18 years$3,652$3,022$2,486$2,034$1,656$875
19 years$3,424$2,801$2,276$1,838$1,476$747
20 years$3,219$2,603$2,088$1,664$1,318$638
21 years$3,033$2,424$1,921$1,510$1,180$546
22 years$2,865$2,263$1,771$1,373$1,058$468
23 years$2,711$2,117$1,635$1,251$949$401
24 years$2,571$1,983$1,512$1,141$853$344
25 years$2,442$1,861$1,400$1,042$768$296
26 years$2,323$1,749$1,299$953$692$254
27 years$2,213$1,646$1,206$872$624$218
28 years$2,111$1,551$1,121$799$563$188
29 years$2,016$1,463$1,043$733$508$161
30 years$1,928$1,382$972$672$459$139
31 years$1,845$1,306$906$617$415$120
32 years$1,768$1,236$845$567$375$103
33 years$1,696$1,171$789$522$340$89
34 years$1,628$1,109$737$480$308$76
35 years$1,564$1,052$689$442$279$66
36 years$1,504$999$645$407$252$57
37 years$1,447$949$604$375$229$49
38 years$1,394$902$565$346$207$42
39 years$1,343$857$530$319$188$36
40 years$1,295$816$496$294$171$31
41 years$1,249$776$465$271$155$27
42 years$1,206$739$437$250$140$23
43 years$1,164$705$410$231$127$20
44 years$1,125$672$385$213$116$17
45 years$1,088$640$361$197$105$15
46 years$1,052$611$339$182$95$13
47 years$1,018$583$319$168$87$11
48 years$985$557$299$155$79$9
49 years$954$531$281$144$71$8
50 years$925$508$265$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $947,000, adding $6,272 every year, while hoping to spend $35,606 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: 49/37/14 Blend
63$947,000$947,000$947,000$947,000
64$1,050,064$999,873$985,194$1,097,171
65$1,119,286$1,010,982$980,314$1,141,384
66$1,194,375$1,021,442$974,076$1,185,175
67$1,275,892$1,031,184$966,399$1,231,952
68$1,364,455$1,040,133$957,195$1,282,009
69$1,460,741$1,048,212$946,372$1,335,666
70$1,565,497$1,055,335$933,837$1,393,282
71$1,679,545$1,061,413$919,487$1,455,250
72$1,803,788$1,066,352$903,220$1,522,007
73$1,939,222$1,070,051$884,925$1,594,034
74$2,086,940$1,072,401$864,488$1,671,866
75$2,248,148$1,073,289$841,788$1,756,090
76$2,424,172$1,072,592$816,701$1,847,357
77$2,616,472$1,070,184$789,094$1,946,388
78$2,826,655$1,065,925$758,832$2,053,977
79$3,056,490$1,059,673$725,769$2,171,003
80$3,307,927$1,051,271$689,757$2,298,437
81$3,583,110$1,040,558$650,639$2,437,350
82$3,884,401$1,027,359$608,249$2,588,928
83$4,214,402$1,011,492$562,418$2,754,480
84$4,575,978$992,762$512,966$2,935,450
85$4,972,284$970,963$459,706$3,133,437
86$5,406,793$945,877$402,443$3,350,203
87$5,883,334$917,273$340,972$3,587,696
88$6,406,121$884,906$275,082$3,848,066
89$6,979,796$848,518$204,548$4,133,687
90$7,609,475$807,835$129,140$4,447,183
91$8,300,789$762,566$48,614$4,791,446
92$9,059,945$712,407$0$5,169,673
93$9,893,778$657,034$0$5,590,966
94$10,809,817$596,103$0$6,061,756
95$11,816,360$529,253$0$6,579,111
96$12,922,543$456,101$0$7,147,818
97$14,138,437$376,244$0$7,773,157
98$15,475,131$289,254$0$8,460,951
99$16,944,848$194,681$0$9,217,623
100$18,561,051$92,048$0$10,050,259