Can I retire at age 64 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$78,285$77,588$76,907$76,243$75,595$72,913
2 years$38,755$38,033$37,334$36,655$35,998$33,324
3 years$25,580$24,855$24,157$23,485$22,838$20,257
4 years$18,994$18,271$17,580$16,920$16,288$13,820
5 years$15,043$14,325$13,643$12,996$12,382$10,032
6 years$12,410$11,697$11,026$10,393$9,798$7,568
7 years$10,530$9,823$9,162$8,545$7,968$5,859
8 years$9,121$8,420$7,770$7,168$6,610$4,619
9 years$8,025$7,331$6,693$6,106$5,567$3,691
10 years$7,149$6,462$5,835$5,263$4,743$2,980
11 years$6,433$5,753$5,137$4,580$4,079$2,425
12 years$5,837$5,164$4,559$4,018$3,535$1,986
13 years$5,333$4,666$4,073$3,547$3,083$1,634
14 years$4,901$4,242$3,660$3,149$2,702$1,350
15 years$4,527$3,875$3,304$2,808$2,379$1,119
16 years$4,200$3,555$2,996$2,514$2,103$930
17 years$3,912$3,274$2,726$2,259$1,864$774
18 years$3,656$3,025$2,488$2,036$1,658$646
19 years$3,427$2,804$2,278$1,840$1,478$540
20 years$3,222$2,606$2,091$1,666$1,320$452
21 years$3,036$2,427$1,923$1,512$1,181$378
22 years$2,868$2,265$1,772$1,375$1,059$317
23 years$2,714$2,119$1,636$1,252$950$266
24 years$2,573$1,985$1,513$1,142$854$223
25 years$2,444$1,863$1,402$1,043$769$187
26 years$2,325$1,751$1,300$954$692$157
27 years$2,215$1,648$1,207$873$624$132
28 years$2,113$1,553$1,122$800$563$111
29 years$2,018$1,465$1,044$733$509$93
30 years$1,930$1,383$973$673$460$79
31 years$1,847$1,308$907$618$415$66
32 years$1,770$1,237$846$568$376$56
33 years$1,698$1,172$790$522$340$47
34 years$1,630$1,111$738$481$308$39
35 years$1,566$1,053$690$442$279$33
36 years$1,506$1,000$646$407$253$28
37 years$1,449$950$604$375$229$23
38 years$1,395$902$566$346$208$20
39 years$1,344$858$530$319$188$17
40 years$1,296$816$497$294$171$14
41 years$1,250$777$466$272$155$12
42 years$1,207$740$437$251$141$10
43 years$1,166$705$410$231$128$8
44 years$1,126$672$385$214$116$7
45 years$1,089$641$362$197$105$6
46 years$1,053$612$340$182$95$5
47 years$1,019$584$319$168$87$4
48 years$987$557$300$156$79$4
49 years$955$532$282$144$72$3
50 years$926$508$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $948,000, adding $4,048 every year, while hoping to spend $56,643 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: 34/40/26 Blend
63$948,000$948,000$948,000$948,000
64$1,048,872$998,628$983,934$1,076,145
65$1,095,589$987,293$956,628$1,085,615
66$1,145,173$973,504$926,508$1,090,433
67$1,197,856$957,081$893,422$1,094,514
68$1,253,893$937,834$857,207$1,097,830
69$1,313,562$915,560$817,696$1,100,355
70$1,377,168$890,045$774,712$1,102,066
71$1,445,046$861,063$728,071$1,102,945
72$1,517,560$828,375$677,581$1,102,975
73$1,595,111$791,726$623,040$1,102,147
74$1,678,140$750,848$564,240$1,100,457
75$1,767,129$705,458$500,960$1,097,907
76$1,862,605$655,254$432,971$1,094,509
77$1,965,150$599,921$360,034$1,090,282
78$2,075,399$539,121$281,900$1,085,257
79$2,194,054$472,502$198,307$1,079,477
80$2,321,880$399,687$108,983$1,073,000
81$2,459,721$320,281$13,644$1,065,900
82$2,608,504$233,867$0$1,058,268
83$2,769,247$140,001$0$1,074,659
84$2,943,067$38,219$0$1,096,395
85$3,131,195$0$0$1,119,942
86$3,334,983$0$0$1,177,267
87$3,555,915$0$0$1,257,769
88$3,795,626$0$0$1,345,236
89$4,055,913$0$0$1,440,338
90$4,338,754$0$0$1,543,813
91$4,646,322$0$0$1,656,475
92$4,981,010$0$0$1,779,217
93$5,345,451$0$0$1,913,023
94$5,742,540$0$0$2,058,976
95$6,175,465$0$0$2,218,266
96$6,647,736$0$0$2,392,206
97$7,163,212$0$0$2,582,240
98$7,726,146$0$0$2,789,957
99$8,341,216$0$0$3,017,108
100$9,013,573$0$0$3,265,619