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%17.5%
1 years$78,202$77,506$76,826$76,163$75,515$73,215
2 years$38,714$37,993$37,294$36,617$35,960$33,662
3 years$25,553$24,829$24,132$23,461$22,814$20,591
4 years$18,974$18,252$17,562$16,902$16,271$14,140
5 years$15,027$14,310$13,629$12,982$12,369$10,335
6 years$12,397$11,685$11,014$10,382$9,787$7,853
7 years$10,519$9,813$9,153$8,536$7,960$6,124
8 years$9,111$8,412$7,762$7,160$6,603$4,866
9 years$8,017$7,324$6,686$6,099$5,561$3,919
10 years$7,142$6,456$5,829$5,257$4,738$3,190
11 years$6,427$5,747$5,131$4,576$4,075$2,618
12 years$5,831$5,158$4,554$4,013$3,531$2,162
13 years$5,327$4,661$4,069$3,543$3,079$1,795
14 years$4,896$4,237$3,656$3,145$2,699$1,497
15 years$4,522$3,871$3,301$2,805$2,377$1,252
16 years$4,196$3,551$2,993$2,512$2,101$1,050
17 years$3,908$3,271$2,723$2,257$1,863$883
18 years$3,652$3,022$2,486$2,034$1,656$744
19 years$3,424$2,801$2,276$1,838$1,476$628
20 years$3,219$2,603$2,088$1,664$1,318$530
21 years$3,033$2,424$1,921$1,510$1,180$449
22 years$2,865$2,263$1,771$1,373$1,058$380
23 years$2,711$2,117$1,635$1,251$949$322
24 years$2,571$1,983$1,512$1,141$853$273
25 years$2,442$1,861$1,400$1,042$768$231
26 years$2,323$1,749$1,299$953$692$196
27 years$2,213$1,646$1,206$872$624$167
28 years$2,111$1,551$1,121$799$563$142
29 years$2,016$1,463$1,043$733$508$120
30 years$1,928$1,382$972$672$459$102
31 years$1,845$1,306$906$617$415$87
32 years$1,768$1,236$845$567$375$74
33 years$1,696$1,171$789$522$340$63
34 years$1,628$1,109$737$480$308$53
35 years$1,564$1,052$689$442$279$45
36 years$1,504$999$645$407$252$39
37 years$1,447$949$604$375$229$33
38 years$1,394$902$565$346$207$28
39 years$1,343$857$530$319$188$24
40 years$1,295$816$496$294$171$20
41 years$1,249$776$465$271$155$17
42 years$1,206$739$437$250$140$15
43 years$1,164$705$410$231$127$12
44 years$1,125$672$385$213$116$11
45 years$1,088$640$361$197$105$9
46 years$1,052$611$339$182$95$8
47 years$1,018$583$319$168$87$7
48 years$985$557$299$155$79$6
49 years$954$531$281$144$71$5
50 years$925$508$265$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $947,000, adding $2,520 every year, while hoping to spend $29,449 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: 56/38/6 Blend
63$947,000$947,000$947,000$947,000
64$1,046,193$996,002$981,324$1,103,303
65$1,121,572$1,013,473$982,865$1,159,518
66$1,203,651$1,030,813$983,470$1,217,198
67$1,293,085$1,047,984$983,078$1,279,289
68$1,390,591$1,064,946$981,622$1,346,215
69$1,496,959$1,081,657$979,034$1,418,441
70$1,613,060$1,098,068$975,243$1,496,483
71$1,739,850$1,114,132$970,171$1,580,906
72$1,878,384$1,129,793$963,741$1,672,335
73$2,029,822$1,144,996$955,870$1,771,458
74$2,195,442$1,159,679$946,469$1,879,033
75$2,376,650$1,173,776$935,449$1,995,898
76$2,574,995$1,187,219$922,714$2,122,974
77$2,792,184$1,199,931$908,163$2,261,279
78$3,030,093$1,211,835$891,694$2,411,933
79$3,290,793$1,222,844$873,195$2,576,172
80$3,576,560$1,232,870$852,553$2,755,359
81$3,889,903$1,241,815$829,648$2,950,997
82$4,233,586$1,249,577$804,355$3,164,743
83$4,610,653$1,256,047$776,542$3,398,423
84$5,024,456$1,261,110$746,072$3,654,051
85$5,478,688$1,264,641$712,802$3,933,850
86$5,977,415$1,266,510$676,583$4,240,266
87$6,525,120$1,266,578$637,257$4,576,001
88$7,126,738$1,264,696$594,661$4,944,032
89$7,787,707$1,260,707$548,623$5,347,641
90$8,514,017$1,254,446$498,966$5,790,448
91$9,312,267$1,245,734$445,502$6,276,443
92$10,189,729$1,234,385$388,037$6,810,026
93$11,154,411$1,220,200$326,366$7,396,050
94$12,215,138$1,202,967$260,276$8,039,861
95$13,381,634$1,182,464$189,547$8,747,359
96$14,664,609$1,158,454$113,946$9,525,044
97$16,075,867$1,130,685$33,230$10,380,086
98$17,628,410$1,098,894$0$11,320,387
99$19,336,565$1,062,797$0$12,358,049
100$21,216,120$1,022,099$0$13,501,781